More Leaving US Than Ever as (Surprise!) Taxes DID Surge...

Expatriation Applications have gone from a few months to 2 years waiting times as real tax rates went up ~30% during Bush tax cut and more factoids in intriguing opinion piece…http://www.dollarvigilante.com/blog/2012/1/31/the-us-is-the-new-offshore.html

ALL DOWNHILL FROM HERE

And there is no reason to hope anything will be getting any better. All indicators point to things only accelerating. US Government debt is now expanding at a rate that can only be described as exponential. At the current rate, the total amount of US Government debt added during the Obama administration will be more than $6 trillion by the time his first term is up. The TOTAL amount of US Government debt in 2002 was $6 trillion. Therefore, total debt will have doubled in just the past decade.

This massive amount of government debt is completely washing out private enterprise and now takes up 30% of all debt “investments” in the US. As the cartoon below shows, it is much the same tact that occurred in 1932 which made the depression last from months to over a decade.

 

So, what could be worse? How about increasing taxes in the US by more than 30 percent between 2012 and 2014. The Congressional Budget Office released a report which shows a jump in taxes from 15.4 percent of GDP in fiscal 2011 to 20.0 percent of GDP in fiscal 2014 – a 29.8 percent increase.

The US has already been in a depression since 2001, as can be seen by most real (not nominal or government massaged) stats such as food stamp usage and employment as a percentage of the population (see below).

 

Don’t let the “Shaded areas indicate US recessions” fool you either. It’s been a depression since 2000… only most people don’t know because it’s been an inflationary one.

Increasing debt, declining employment and rising taxes… not a recipe for success.

ESCAPE FROM AMERICA

The financial and economic landscape in the US has left anyone with the ability wanting to run. Corporations have been heading for the exits for years. And now, according to our sources, the wait list to renounce US citizenship has increased from six months to over two years.

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