Look Out Middle Class
I came across this nifty graph released by the IMF. Click on the graph to enlarge it.



It appears that for the first time in our history, the average share of our public debt per person is higher than our average income. This got me to thinking the following: If the average income of Americans is $50,000/year then how are those who are making significantly lower than this figure ever going to pay off their share of the debt? Obviously,they can't.

Also, you can rest assured that those who are making significantly more than this figure aren't going to pick up any more than their share of the debt.

Which leaves you and me.... the middle class, getting stuck with the bill. Look out as higher taxes and/or inflation (the hidden tax) are on the way.

Why are you still putting money in tax deferred retirement accounts only to pay a higher percentage in taxes when you eventually draw that money out? At this point in American history, tax-deferral is not only the wrong thing to be doing.... it is the exact opposite of the right thing!