California’s Meltdown: A Foreshadowing of Our National Fate
What will happen if the recommended policies of the Obama administration are instituted?
California’s crisis is a predictor. The state has one of the highest income tax rates, many of its cities have the highest unemployment rates in the nation, and many entrepreneurs are fleeing the state in search of business-friendly states.
If the government doesn’t stop its excessive spending it will have to raise revenues. This means that your money will never be worth more than it is now, and that you’re in the lowest tax bracket you’ll ever be in.
Right now the economy is running on the artificial high of the stimulus packages. These are like caffeine and energy drinks — they’ve bumped up the economy but there will be an inevitable crash.
We’ve got to start nourishing the economy correctly with a healthy diet of entrepreneurship, lower taxes, decreased regulation, and fiscal responsibility.
Listen to this week’s Missed Fortune Radio episode that talks about this.
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