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[linrom1]

Another 30% decline from here should obliterate all Public Pensions. Those rosy and bogus annual pension fund projections of 8-9% returns, should deep-six all governmental bodies budgets. So get ready to pay more in taxes to make up for the shortfall that your state local representative or city councilman approved to take care of public servants-----you probably don't even know who they are! Do you? Of course, the Black Swan is that you likely won't have a job either, so payment of any taxes will decrease your overall spending. And when you eventually get foreclosed, banks will be on the hook for payment of all property taxes. The bad part is that you pay for banks' plant and upkeep out of YOUR future Social Security benefits.

Edited by linrom1, 02 March 2009 - 07:50 PM.

[Xenophon]

I have been dealing with higher taxes to make up for shortfalls. I am going to the Board of Review for my county for a hearing on my real estate taxes today, they went up about 28% (they say there is a review every four years which accounts for the large spike) from the previous year and when I submited a form petioning for a lowering of my taxes they responded by knocking about 1% off the 28%. So I am going to present my arguments today. On a related note, I am a fairly recent college graduate and I was unable to find a job after graduating and still haven't found one though I quit looking some time ago(good thing I know how take care of myself). The point is it seems as if the older generations in this country are using the younger generations as fodder. They constantly raise college tuition at the same time wages are stagnant or dropping. Additionaly basically all levels of government have staggering levels of debt which I think is primarily going to be passed on to the youth of today. Most people in this country are desperately trying to cling to an unfeasable standard of living and to do that they are incurring substantial debt on their progeny.