A new post from Economic Freedom asks What’s Your Lifetime Share of the National Debt? and provides a calculator to generate your age-based share. At Estate of Denial®, we believe understanding probate and other legal abuse/corruption issues requires recognizing the threats Americans face with regard to both their personal liberty and property rights as well as the impact of extraneous yet related fiscal concerns. To that end, knowledge of our U.S. political and financial landscape is required.
As federal coffers experience new challenges and if resistance to shrinking the size of government continues, states will find themselves dealing with a host of new financial pressures. Our home state of Texas – like most other states – will address serious budgetary issues in our upcoming legislative session. We also have $322 billion in local government debt, second only to California. The consequences of recent spending sprees by virtually all locales and levels of government is coming to a head.
The numbers of people paying taxes continue to shrink while demands for taxpayer-funded services continue to rise. The government and its cronies will keep looking for new resources. Many corporations and other businesses would say they have already been targeted – via government over-regulation, excessive taxation and/or through frivolous lawsuits. Probate venues and Involuntary Redistribution of Assets (IRA) are a way in which we see the assets of private individuals targeted. We’ve also seen it happen with receiverships, civil asset forfeitures and other property diversion tactics.
If the overall American economic picture doesn’t get better, more of this all is likely in store. And for that reason, no one in this country can afford to not understand their piece of what’s at stake!