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I hope you have a wonderful Labor Day holiday. I plan to.
But I have to ask, on this day that celebrates the economic and social contributions that American workers have made, past and present, to our great nation: Does Washington really respect those contributions?
When you add in the impact of state, local and property taxes, the average American is one of the most taxed citizens in the industrialized world.
Our federal corporate tax rates are the second highest in the world after Japan’s.
All Americans, no matter where you live and work, are taxed on their worldwide income.
What’s even worse: Washington seems to be hell-bent on forever lying to us. We’re told inflation is running at 2 percent, when you and I both know it’s substantially higher.
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| The average American is one of the most taxed citizens in the industrialized world. |
We’re told that our Social Security taxes will be returned to us in the form of retirement income.
Yet, Social Security will soon go broke, Washington keeps changing the definition of retirement, and Washington incessantly devalues the dollar, meaning you will never get back what you paid into the fund.
And, recently, we found out that Washington can spy on us anytime it wants. Washington can read your emails. Track your Web surfing. Tap your phones. Analyze what you buy and sell online. Snoop on you like never before, and all without due process and without you ever knowing about it.
Washington can even detain you, confiscate your laptop or even your passport, all without due process.
Is this how Washington respects the labor of American citizens, past and present?
Is it how we will be treated in the future?
I sure hope not. For we are a great nation. And we can certainly do better.
Have a great holiday,
Larry
Larry Edelson, one of the world’s foremost experts on gold and precious metals, is the editor of Real Wealth Report and Supercycle Trader.
Larry has called the ups and downs in the gold market time and again. As a result, he is often called upon by the media for his investing views. Larry has been featured on Bloomberg, Reuters and CNBC as well as The New York Times and New York Sun.
{ 3 comments }
What chances do you give silver of dipping into the 18s this month?
Actually, the problem is worse than you say.The problem is your fellow, greedy, ignorant Americans.They are the ones, who elect Obama and other big govt fascists.If we could just change a few people, in govt, that would be easy.Not so easy, getting the majority of Americans, to become intelligent and honest.
Hi Larry,
IS a currency devaluation on your list of possibilities, or not probable?
subscriber Mike & Renate Riley.