Summary: Clarity Empowers Are you concerned about what will happen to this great country of America and her economy? Do you worry about what will happen, no matter who is attempting to run the country? First of all, you're not alone. Many people feel powerless and confused about what they can do. Nothing snaps us out of our sense of paralysis and into action like having clarity. It is becoming active that keeps us from merely being reactive to what's going on around us. This should be of special importance to anyone who pays taxes. For instance, in the past 8 years, we went from 45 percent of Americans being tax consumers and 55 percent of Americans taxpayers to exactly the opposite. This means that, for the foreseeable future, there will be more voters electing candidates who will continue to spend without slowing. Remember, the federal government collects $3.1 trillion in taxes every year which is about what they own in interest on the national debt and Social Security and Medicare benefits each year. This means that 100 percent of what the collect is spent before they collect it. The $1 trillion it takes to run the government is 100% newly borrowed debt. The federal government collects taxes, primarily personal income tax, FICA, Social Security and Medicare and corporate income tax. Why Taxes Keep Rising We have 41 out of 50 states with a state income tax and, on top of that, they also collect property and sales taxes. This amounts to about $2.9 trillion that the states collect. If you add that to what the federal government collects, it comes out to $6 trillion. America's Gross Domestic Product or GDP is $17 trillion. That means that a third of our economy goes out in the form of taxes. What most people don't understand is that the government comes up with these slick ways to get other revenue from the middle class and the poor. One of the biggest ways is the $70 billion lottery system. It's a tax that most people don't realize is a tax. The bottom line is that as our government continues to spend unabated and continues to print money at an increasing rate, it's going to be looking for ways to raise more revenue. This should have special significance to all taxpayers. If you haven't figured it out yet, they'll be looking at those who are perceived to have money, especially those who have saved for retirement in order to provide benefits for those who have not. If you're not taking action to protect yourself from rising taxes, you're likely to get fleeced. <a href="http://liveabundant.com/events/" target="_blank">Knowing your options</a> empowers you to protect yourself and those you care about from the negative impact of higher taxes, rising inflation and market volatility. Start by <a href="http://liveabundant.com/free-analysis/" target="_blank">visiting with a wealth architect</a> today. *Life insurance policies are not investments and, accordingly, should not be purchased as an investment.
