THE TARGET ON YOUR BACK
Did you know that 60% of Americans pay no income taxes?
And another thing. Social Security covers roughly 40% of the average recipient’s overall expenses.
Those percentages are only going to go up.
Meanwhile, the ratio of workers to Social Security recipients has dropped from 159 to 1 to less than 3 to 1.
Nobody in D.C. wants to be the bad guy and have their constituents lose any of these essential benefits … or any Medicare benefits.
Here’s another thing.
Roughly 80% of tax payers earn $75,000 or less a year at work.
If you earn $150,000 or more a year, you’re in the top 5% of wage earners!
If the government gets to the point that it can’t print any more money and they need to raise a lot of money, guess who they’re going to tap into for those funds?
Wouldn’t it make sense to have a strategy in place to take advantage of the historically low tax rates of today, rather than getting caught in the Tax Vortex that is bound to come?
#taxes #socialsecurity #strategy #retirement #taxvortex