ilmscore | The REAL Reason Why Taxes Are Rising

The REAL Reason Why Taxes Are Rising

Published: 2024-06-21
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
US government interest payments on national debt are predicted to consume half of all tax dollars in the near future.
"At this rate, it doesn't look like it'll be that long before half of every dollar that you pay in taxes are going to be used to pay back the government's credit card, I mean national debt."
US Government Debt Interest Expense
Pending
US government spending is projected to increase by 46% from 2019 to 2024, growing at more than twice the rate of reported inflation.
"Then fast forward 5 years to 2019. The government is projected to spend $6.5 trillion. This is an increase in 46% which by the way for you money nerds out there is more than twice the speed at the reported inflation numbers."
Government Spending Growth
Pending
Inflation is predicted to benefit the financially educated and harm the financially uneducated population in the US.
"Inflation benefits the financially educated. Inflation hurts the financially uneducated. And most of our country is financially uneducated."
Inflation Impact on Wealth
Pending
Over the past five years, the S&P 500 has increased by approximately 80%, while most people's incomes have grown by less than 20%.
"The S&P 500 is up around 80% over the last 5 years. Most people's incomes have barely grown by 20% over the last 5 years."
Asset Price Growth vs. Income Growth
Pending