Have you ever looked at where our National Debt is going? Here is a live Debt Clock.
Currently our country is at one of the lowest tax rates, ever. However, there are issues at hand that have to be considered to determine where taxes are headed:
- National Debt
- In 2008, our country's “official” national debt was 9.6 trillion and in 2010 that number rose to 16.9 trillion. This was a 7.3+ trillion dollar increase.
- Spending is now triple what it was 20 years ago. The “real” national debt is 70+ trillion. This is equivalent to $147K per household.
- Social Security
- Was not meant to be permanent source of retirement. By 2017 the government will be paying out more benefits than revenue going in.
- By 2041 funds will be exhausted.
- Health Care
- Who is going to pay these costs?
If taxes go up and you have a significant amount of money in a 401K or IRA, you could end up spending a significant amount of your retirement money on TAXES! Contact Family First Life of Maryland for a better solution. We have a Tax-Free Retirement alternative for you!
Michael E. Pfeil
Family First Life of Maryland
www.FamilyFirstLife.com
mpfeil@familyfirstlifemd.com
Looking For A New Career? Visit Our Jobs Website www.FamilyFirstLifeJobs.com
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