ilmscore | The Truth About Escaping the Middle Class

The Truth About Escaping the Middle Class

Published: 2025-12-13
Status: Available | Analyzed

Predictions from this Video

Total: 8
Correct: 5
Incorrect: 0
Pending: 3
Unrated: 0
Prediction
Topic
Status
The IRS hiring of 87,000 new workers over 10 years is intended to replace retiring staff and increase auditing capacity, not solely add new agents in the immediate future.
"So, the 87,000 people that they're hiring are not all IRS agents and they're not all being hired today. They're going to be hired over the course of 10 years. And the whole idea is this is what they're saying. Again, this is what they're saying. What might happen is could be a little bit different. So, I I want to be just completely transparent because I don't want to mislead people. I want to make sure everyone's fully understanding what's happening. You have about what's scheduled is about 50,000 or so people in the IRS are scheduled to retire over the next 10 years. So these 87,000 people are supposed to replace them and beef up the agents that are actually going to be doing the auditing to go and collect more money."
IRS Audits
Pending
In 2021, half of all IRS audits targeted individuals earning under $75,000 annually.
"Well, in 2021, 50% of IRS audits were on people earning less than $75,000 a year."
Tax Audits
Correct
The IRS is motivated to collect even small amounts of undeclared income, such as $1,000 from side hustles.
"The IRS wants that thousand bucks."
IRS Audits
Correct
The potential creation of a digital dollar is driven by the government's desire for greater visibility into and taxation of all transactions.
"maybe creating a digital dollar because they want to be able to see every transaction, which means they want to be able to tax every transaction."
Digital Currency
Correct
Investing $100 per month from age 21 to 65 with a 10% average annual return will result in retiring as a millionaire.
"Did you know if if you're 21 and you start investing $100 a month and you never change that and you just get a 10% return on your money, which is the average stock market return and you do that until you're 65, you will retire a millionaire."
Retirement Savings
Pending
Buying a home when interest rates are high, especially with a discount on the purchase price, can be advantageous if rates subsequently drop, allowing for refinancing.
"So it's almost good to buy it when interest rates are high, if you can get the house on discount and then if in a year or two that the interest rates drop in half, you can refinance."
Home Buying
Correct
A scenario where the Fed cuts interest rates due to a recession could lead to increased housing market investment, widening the wealth gap and potentially making homeownership unattainable for most, leading to a 'renter nation'.
"if the Fed cuts interest rates and we go into a recession, if so, our economy slows down, the Fed starts cutting interest rates, mortgage rates go back down, you're going to see a bigger flood of cash into the housing market and that will create a bigger wealth gap and it will make it significantly more difficult for the regular person to buy a home. Home ownership will become a real American nightmare because you will not it will be so difficult for the regular person. It will turn into essentially a renter nation."
Homeownership
Pending
Adjustable Rate Mortgages (ARMs) are considered very risky and are only advisable if one is completely certain they can pay off the loan within the initial promotional rate period.
"But a an ARM, an adjustable rate mortgage is significantly more risky. Only time that I would say an arm is okay is if you are like 100% confident that you're going to be able to pay off the home during that initial teaser rate."
Adjustable Rate Mortgages
Correct