22 reasons Obama will raise your taxes … soon! ‘Tax Bomb’ dead ahead: Former GAO chief says your taxes will double |

22 reasons Obama will raise your taxes … soon! ‘Tax Bomb’ dead ahead: Former GAO chief says your taxes will double

ARROYO GRANDE, Calif. (MarketWatch) — Yes, taxes will go up. Must. Why? Debt: federal, state, corporate, bank, pensions, personal. The hole just keeps getting deeper, bigger. Well over $100 trillion of debt is being piled on future generations, while our GDP is only $15 trillion annually.

Reagan was right, “government is the problem,” both the GOP and the Dems.

Imagine doubling your taxes: That’s what David Walker, the former U.S. comptroller general and GAO chief, recently said on CNN: “The federal government has spent more money than it takes in at an increasing rate. Total federal debt almost doubled during President George W. Bush’s administration and, as much as we needed some stimulus spending to boost the economy, the nonpartisan Congressional Budget Office now estimates total debt levels could almost double again over the next eight years based on the budget recently outlined by President Obama,” with our “tax bill doubling over time.”

http://www.marketwatch.com/story/22-reasons-obama-will-raise-your-taxes-soon

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