This is how america’s tax problem could affect your Future…
By Evan Baker and Parker Osoba
Modern day America has a major tax crisis. Taxes are extremely uneven between the rich and the poor and people are getting upset. One example of how inflation is affecting you is the drastic price increase on something as small as a movie ticket. The average price of a movie ticket in 2019 averages eight to ten dollars for kids, and 10 to 12 dollars per adult whereas in 2000, cost half as much, valued at $5.66.
How taxes are costing you more than money
Although many of us think we pay a lot of taxes, we should glad that we aren’t paying $150,000 in taxes per year like the people in america’s top 1%. Or if you are one of the people unlucky enough to be in america’s top 20% and pay 87% income tax, then there are a few ways to make that lost money back from what some might consider to be a greedy government.
Three ways to gain your tax money back
1.invest your money in tax deductible activities when possible.
2.Learn how to file taxes correctly or use services such as turbo tax.
3.Save money by taking classes and learn how you can get paid for filing taxes correctly on your own.
America’s ever-growing inflation rate has skyrocketed over the last 20 years even on everyday luxuries like a candy bar. Did you know that on average, you can save about 30% of your annual income just by skipping out on the convenience store trips and unnecessary items from the grocery store like that box of cheese-its or that case of Gatorade. America’s inflation rate problem is similar to the inflation rate problem that led to the downfall of Greece in the way that every year, the cost of items continue to grow in order to keep up with the ever-growing global economy that is slowly requiring the consumption of more and more money, until the price of resources is too high for even the richest Americans to afford.
Not to mention the major debt crisis that America already faces. America is about 22 trillion dollars in debt and counting, so if something like a third world war were to occur, then our economy would take a massive hit and would be unable to help fund allies.
Then the economy would start to go under and look like a modern day Rome(for comparison). America already has the largest debt out of all of the countries in the world. Yet, we believe we are able to fund our rapidly expanding economy just to keep up with the other countries, which will cause our country to become bankrupt, and end up as a modern day(maybe even worse) version of Rome.
America has slowed down the expansion of ideas just like Rome had. Rome built itself to be a huge empire with many feats just like America had. But Rome stopped being innovative. Once they achieved aqueducts, arches, and domes they stopped.
America has given freedom to the people, right to bear arms, and completed many architectural feats like the Empire State Building, the Golden Gate Bridge, and the Jefferson Memorial.
Our country flourishes in innovation and now just like Rome we’ve stopped. This stand still could weaken our country while other countries like China and Korea are currently thriving with new ideas and modernizing their cities.
America has many things happening to it similar to that of Rome. It doesn’t necessarily mean America is going to fall but it is a possibility.