Veritas my comment is speculative only and based on the belief that we as in everyone will be taxed a great deal more then we are now.
Unfortunately most people feel that taxes come only in the form of the income tax that they pay annually. Unfortunately this is far from correct. I do indeed believe that sales on primary residences will see the 250k/500k cap gains exemption be removed. It is not inconceivable that other previously untouchable tax shelters such as your 401k become targets as well. Again, this is not a tax on the “super rich”. It is a tax to raise revenues to pay for increased spending.
Additionally many people think that when corporate taxes are raised, that only corporations will suffer. In reality however, the corporations frequently pass along the tax increases to you the consumer.
Once again, this is only AN OPINION.
I cannot find a single economist out there who advocates increasing taxes in a recession but I guess the government knows better. Sorry to be so pessimistic. I hope I am wrong.
