Despite 14 Year Highs, Bond Yields Have a Long Way to Rise – Ep 849
The Peter Schiff Show Podcast
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We've More Than Tripled the Size of the National Debt
The government is taxing Americans at the highest rate relative to GDP, almost in history. The all-time record high for taxes as a percentage of GDP was just under 20% and that was the level that we reached twice in our history. Even though we're being taxed at a record high level, we're not being taxed enough to cover the massive amount of government spending. But what these numbers tell you is that higher tax rates are coming, especially since the US government will have to spend a lot more money because of inflation.
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