Loans, investments taxes equal crisis
Bad loans? Bad investors? Are they to blame?
Yes, but that is not the only thing that helped push us into one of the worst financial years in history, you can also blame property taxes.
When someone asks for a loan, most people know how much they need to budget for that loan. Then the shoe falls, your property taxes go up, and up, and up before you know it you cannot afford the mortgage and the property taxes, so you cut back, but what do you cut back on: vacations, eating out, newspapers, and subscription TV.
Which we did six months ago, but now the cost of gasoline, natural gas for heat, electricity, health insurance, food all which have gone up at an alarming rate in the past few months.
Where do we cut next, medical insurance, retirement fund, children's education fund, where? Where does the government think we are getting this money?
Most of us in the real world don't get a cost-of-living increase every year; most are lucky if they get an increase every 2 or 3 years and even fewer of us get pensions anymore unless you work for the government or some automotive company.
No, in the real world we are struggling to survive. S
o where does the money come from?
It comes from us making even more sacrifices to the point where we just can't keep paying more, more, more.
America is in a crisis, a big one and the worst is yet to come.
Patrick Harvey
Fox Lake