This “crash” may come much more quickly than most anyone might imagine.
Daily, there are reports and anecdotal tales of businesses that are either about to close, or shall very soon, as they cannot operate profitably because of sharply rising taxes, or draconian regulations that seem to be written for the express purpose of bankrupting what productive capability we have remaining.
Bankrupt businesses do not hire people. Self-employment, if subjected to too much regulation, responds by going underground, operating on cash-only or barter basis, further eroding whatever tax base remains.
There is every reason to believe this will have a snowball effect beyond anything the United States has ever experienced.
Declaring a date of 2014 to 2016 may be unduly optimistic.
Get out of blue areas, WROL will be lethal there.
-——Self-employment, if subjected to too much regulation, responds by going underground, operating on cash-only or barter basis, further eroding whatever tax base remains.-——
I run a business that services exclusively to the self employed...
I have an in house account for people who want to buy off the “ books”
In the last two years it is my # 1 account now...it was basically used for new customers until they were set up with a customer number...
People are doing exactly that....avoiding regulation which means avoiding taxes just to survive ...
It wil only get worse ....
“Declaring a date of 2014 to 2016 may be unduly optimistic.”
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It may be VERY unduly optimistic but one thing I have learned is that Old Rip Sawyer is not a good judge of the timing, I am amazed that we have not collapsed already. Things are in terrible shape but not as bad as I expected by now.