I had to read the report several times to fully appreciate what it said about today’s debate/food fight/hissy fit/standoff over raising the debt ceiling and curtailing spending by either/or cutting programs and raising taxes. This report was a tightly focused look at federal government receipts (also known as taxes). Sorry, I am not allowed to reproduce it here without permission, but there are plenty of other sources of this information in the world wide web.
As of today, the federal government is collecting taxes at the lowest level since 1950, when calculated as a percentage of our GDP. Lower than at any time in some 60 years, we are not being taxed heavily at all right now, although it always seems like a huge burden when you have to pay it.
By contrast and comparison, our overall economy is most likely now in its worst condition since the late 1930’s. That means we are seeing more unemployment, lower morale among taxpayers that vote (or not) and more financial hardship for all than at any other time in over 70 years.
Yet some of our elected officials in Washington refuse to even consider raising taxes on anyone, whether the most wealthy or the least. Hmmm, who can we get money from to keep the lights on and the doors open? Or should we just shut the doors? Maybe China will send us a check? Our national credit rating is already headed lower. The ripple effect of that will be felt for 10 years or more, long after new people are elected who actually understand the big picture and will act on the needs of their constituents. Were the tax increase deny-niks elected to shut down the government? Let me know your opinion. Or just vote them in again if that’s what you want.
Should taxes be raised on anyone? It would be nice to sit around the campfire and say hell no. But is that realistic and will that accomplish anything other than forcing our country into more expensive debt service? Should these issues have been addressed many years ago? Hell yes.
So get registered to vote and then when its time, vote like your future depends on it. What does this have to do with Santa Fe residential real estate? It only matters if you own a home or are trying to sell a home or purchase a home or lease an apartment or live in a garage or squat on national forest land or sleep in your car or live with relatives or friends. Otherwise it doesn’t really matter, I guess.