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The social contract contines to change to the detriment of many. The elderly continue to see their Social Security income taken to pay higher local tax cost, reducing their standard of living.
The middle class continues to shrink, while wages move by whatever percent, the wedge of compounding opens the economic wage abyss between the rich and poor. Mergers, downsizings and layoffs countinue to recycle workers into lower paying jobs. Many of the older employees are laid off, and replaced by lower paid or contract workers. Many of these receive no health, pension or vaction benefits.
The young will be ask to not only pay the national debt, but also the interest on the debt. This hideous act is called intergernerational debt passing. There are those among us that will ask the young and those yet unborn, to pay not only the Social Security of retired workers, but to contribute to their own.
No. informed citizen would sign an open ended contract saying each entity of goverenment may bill me for whatever cost, the majority says I owe.
Each and every independent taxing entity of government that is applied to society, continues to limit the degrees of freedom of society. To many taxing entities will produce an economic system that will not work properly, thus defeating itself.
The evolution of higher taxes by all levels of government over a given time period, adds instability and uncertainty to citizens and business, and adds overriding performance constrains to any discrete econmic configuration.
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