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Tuesday, September 25, 2012

Countdown to Taxmageddon

Read:
http://theweek.com/article/index/229851/countdown-to-taxmageddon

Americans had approved government bond issues one after another for many years based on the popular premise of "growing out of debt". [Fancy talk for pushing the day of fiscal reckoning into the future. And why wouldn't we -- after all, that's the American infomercial way of going from rags to riches.]

Our nation is now running a $1 trillion annual deficit. The U.S. public debt is now up to 70% of the gross domestic product -- and growing. If the bubble doesn't burst, it'll be 200% in one generation. We need to reform entitlements and eliminate tax breaks. Otherwise our voters are no better than those in Greece.

My advice for individuals is the same now as it's always been:
Get out of debt no matter what it takes. Then learn to live within your means while saving 15% of your net income for emergency use only. A hillbilly living in poverty now is better prepared for "taxmageddon" than someone who's mortgaged to the hilt.

Taoistic Noninterference

Never force things to happen, but rather, let them happen naturally. Do not seek to interfere with or control nature; do not seek to interfere with or to control other peo­ple.
http://www.allsoulsuuindy.org/ser20090419.htm

Appropriate action is taken only at the opportune moment and on the right occasion. For what at first sight appears to be good fortune may ultimately prove to be to our detriment; whilst what seems bad fortune at the outset, may eventually turn out to be to our advantage.
http://www.nembutsu.info/hsrnonin.htm

Taoism (pronounced Dowism) is an ancient Chinese religion founded in the third or fourth century B.C. by Lao Tzu. Taoism also is called the water course way, for it believes that life flows in much the same way as a river. And like the river, though we are able to have influence over our lives, we are never able to take total control.
The Taoist prefers to look at life events without judgment or interpretation. According to Taoism, the true significance of events can never be understood as they are occurring, for in every event there are elements of both good and bad. Furthermore, each event has no specific beginning or end and may influence future events for years or even centuries to come. An excellent example of the Taoist view of life is found in the following parable of the Taoist farmer.
http://www.pediatricservices.com/prof/prof-47.htm

 “The highest form of human intelligence is to observe yourself without judgement.”
 Jiddu Krishnamurti