A few days ago, I began my research into the often frightening and very often misunderstood word known as recession. In this episode, we continue to unlock the fiscal mystery that seems to have our country in a headlock…

Why is everyone talking about taxes?

Taxes are a way that the government can inject money back into the economy.
A way of reversing the chain—you buy something at a store= store owner buys something at another store= etc.

President Bush and Senator McCain believe that continuing the current economic trajectory with regards to taxes is the proper response. They feel that this is all merely an economic downturn, — not the R-word.

Both Senators Obama and Clinton call for tax reform in the form of restructuring the system – placing the burden of taxes upon the upper echelon of people and giving more breaks to the middle and lower classes.

While the politicians continue their debate over tax cuts/ breaks/ rebates/ and whether the term recession should be employed, you and I are daily facing the economic reality—whatever you choose to call it. Read More »