It seems no effort is being spared in the effort to crash the economy, or even drive it right off a cliff. As a result, Long Island property owners must be prepared for some of the most intense tax hikes they’ve even seen. As well as many new taxes.
This Will Make The Great Recession Look Like A Bull Run
Valuations and the dollar amounts, and separation from real fundamentals mean that this next downturn is likely to make the 2008 Great Recession look like a luxury vacation or economic boom.
Yet, again, the Fed continues to hike rates to increase unemployment, drive defaults on debts, and make life too expensive for most workers to keep up.
Major banks are failing, and many more will. They’ll need hundreds of billions of dollars in bailouts. Zombie homes, retail stores, and even Amazon warehouses will litter the state. Requiring counties to raise millions of dollars to secure and maintain them.
Fast rising unemployment and scarcity of job openings is going to mean far more will have to rely on many different levels of governments for food, housing, and basic financial support, as well as healthcare. All while living costs continue to soar with inflation.
Brace For the Tax Tsunami
All of the above is going to require many new different types of taxes, and as well as record tax hikes to pay for. All of this government spending is going to come from you, the taxpayer.
In fact, many would consider that driving the economy into the crisis so that taxes can be raised is the purpose of it all.
What Can You Do?
After you total up all your taxes at the different levels, don’t be surprised if it eats up more than half of your income. That’s even if you still have a job and income. So, what can you do to survive it?
If you can work remotely, or are living on your retirement income, you could consider living abroad most of the year and avoiding the brunt of income taxes.
You may also work remotely from somewhere else, or choose to downsize everything. You cars, your home, and your shopping.
You can short all the stocks that are about to fail. You can cash in municipal bonds in the anticipation of some towns, cities, and counties going bankrupt as well.
One thing we can all do is to challenge and appeal our property taxes and get them lowered.
It seems no effort is being spared in the effort to crash the economy, or even drive it right off a cliff. As a result, Long Island property owners must be prepared for some of the most intense tax hikes they’ve even seen. As well as many new taxes.
This Will Make The Great Recession Look Like A Bull Run
Valuations and the dollar amounts, and separation from real fundamentals mean that this next downturn is likely to make the 2008 Great Recession look like a luxury vacation or economic boom.
Yet, again, the Fed continues to hike rates to increase unemployment, drive defaults on debts, and make life too expensive for most workers to keep up.
Major banks are failing, and many more will. They’ll need hundreds of billions of dollars in bailouts. Zombie homes, retail stores, and even Amazon warehouses will litter the state. Requiring counties to raise millions of dollars to secure and maintain them.
Fast rising unemployment and scarcity of job openings is going to mean far more will have to rely on many different levels of governments for food, housing, and basic financial support, as well as healthcare. All while living costs continue to soar with inflation.
Brace For the Tax Tsunami
All of the above is going to require many new different types of taxes, and as well as record tax hikes to pay for. All of this government spending is going to come from you, the taxpayer.
In fact, many would consider that driving the economy into the crisis so that taxes can be raised is the purpose of it all.
What Can You Do?
After you total up all your taxes at the different levels, don’t be surprised if it eats up more than half of your income. That’s even if you still have a job and income. So, what can you do to survive it?
If you can work remotely, or are living on your retirement income, you could consider living abroad most of the year and avoiding the brunt of income taxes.
You may also work remotely from somewhere else, or choose to downsize everything. You cars, your home, and your shopping.
You can short all the stocks that are about to fail. You can cash in municipal bonds in the anticipation of some towns, cities, and counties going bankrupt as well.
One thing we can all do is to challenge and appeal your property taxes and get them lowered.