We all know that the government will continue to increase the debt limit and it has to be paid eventually. Of course they are trying to ax as much as they can...because I heard that they started the mileage tax in San Diego (not 100% sure).
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What good is a debt limit if it keeps getting raised at every opportunity? The debt limit was supposed to be used by Congress to keep budgets in line. It hasn't been used this way for decades. The national debt will never be paid, and everyone involved knows it.
We can't do dead pools here (I think), but we can take bets on when the government officially defaults. I give it 5 years.
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Well I think it will last for a bit longer. They did hire a bunch of new people in the IRS so maybe they are looking to get more revenue on that end. Of course I just hope they don't target the normal citizens and go after the rich and powerful.
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The rich and powerful know how to use tax laws to their advantage. In some cases, they have access to the legislators who write the tax laws. In many cases, the rich and powerful have "their people" in key positions to make sure things go as they want.
As for not going after normal people, we can forget that immediately. One reason the Income Tax became part of the U. S. Constitution via ammendment is because it was marketed as a took to go after "only" the "top 3 percent" of income earners. We know how that turned out.
When politicians say they won't tax the normal people, what they really mean is they won't tax the normal people today: tomorrow is another matter.
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