Yesterday I went to get my taxes done for the year 2021. Like any good citizen I expected to pay a little more in taxes this year due to the inflation hikes, but when I was told I had to pay $8,500 dollars, I said, "Yikes!"
Today, I learned that Bloomberg put out a report that shows how the White House Billionaire tax increase will trickle down to an increase to every household in America. The chart (attached) shows that the "average US household has to spend an extra $5,200 this year ($433 per month)" to receive the same level of goods and services due to the 6.4% inflation rate. Double Yikes! Oh, and inflation is not stopping. Triple yikes?
If you put gas in your car you notice the increase in gas prices has gone up every day in a row for nearly 2 months with a projection of prices to reach $10 a gallon. If you buy groceries for your family you also see that food costs have doubled in some areas and the shelves are running thin. No wonder everyone is angry and over sensitive.
What can we do about this? Well, we can sit idly by and not prepare for the economic crash that is being brought down on our heads, or we can ask older people what they did in 2008 when the stock market and real estate market crashed. We still had food because there wasn't a food shortage at that time, but many people suddenly found themselves upside down on their homes, evicted, unemployed, and homeless. Many people have still not returned to work and will find themselves on the out-and-out that much quicker. Anyone who has been asleep at the wheel will realize that someone took the wheel from them and sadly, many middle to low income families will suffer the worst.
Or, you can get out, get a job, and start planning for the crash. Pay off debt, sell what you don't need, and unplug the game system that keeps you uninformed. Don't trust only one source of information but seek wisdom in all areas of life. Read financial reports, educational reports, insurance reports, and government reports. Many laws have and are being enacted that may influence your ability to work, go to school, or provide for your family.
When you are proactive in your approach to living, you are less likely to worry, less likely to be angry, and less likely to be caught unaware. Gather with others and discuss how they are preparing. If you find your friends are the one's idly standing by, go find some new friends. The ship is sinking and the rats are jumping overboard saving themselves. Will you be one who goes down with the ship or will you be aboard the life raft seeking refuge?
"Don't have anything to do with foolish and stupid arguments, because you know they produce quarrels."
2 Timothy 2:23 (NIV)