Schiff’s America – This Is How It Will Look Post Crash

I believe the US government will handle the post dollar crisis in the exact same way as Greece. This is how it will look.

These are the steps the government will take in the order they will happen.

Step 1. Massive tax increases, specifically massive federal tax increases.

Fuel duty increases, at least a doubling in the price of gas.

Nationwide property taxes based on federal valuations of property value.

Dramatic increases in federal income tax.

The introduction of a federal sales tax of a minimum of 5% with steady increases forever

Massive increases in federal social security taxes. At least a doubling.

A federal tax on yearly vehicle registrations

Step 2. Massive cuts in benefit payments

Pension payments slashed on a not means adjusted basis.

Disability and unemployment benefits slashed.

Step 3. Huge cuts in public sector wages.

The theme here the is federal government passing all the burden onto the public.

Austerity for the government would be the government providing the same levels of services or close to the same levels with less staff.

Government austerity can only come through payroll cuts. Anything else is the government passing the burden onto the public.

Reducing the government payroll will mean the government reducing its power over the economy and no government does this.

If you’re in America and you want to see what is going to happen in America when the dollar crisis hits just look to Greece.

Of course there is another option and that is hyper inflation where taxes stay the same and the price of products go through the roof. And even in this case the effect is the same, average Americans are going to be much poorer.

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