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United States’ First Quarter (Q1) Economic Highlights 2012
After the financial crisis of 2008, recovery has been sluggish since the Dow Jones hit a high of 14,164.53 on October 7, 2007. Rising oil prices and Europe Debt Crisis have slowed the recovery of the US economy. The current year guarantees no new tax reforms until after the 2012 Presidential Election in November. However many states need revenue and tax increases maybe in their future but certain states are looking beyond taxing their citizens to raise revenue.
Gambling, alcohol, and fireworks are becoming alternatives to raise revenue rather than increasing taxes. Washington State began auctioning their liquor licenses while Georgia lifted their ban on alcohol on Sundays. Massachusetts became the 24th state to allow casinos last year similar to Ohio in 2009 and Maryland in 2008. Both Maine and Rhode Island lifted the ban on fireworks and expand gambling casinos. These alternatives to taxations prevent the loss of sales to other states and return lost income and revenue through job creation.
According to Strauss-Howe Generational Theory, the United States is currently undergoing a crisis period. Both Medicare and Social Security will be exhausted in 2024 and 2036, respectively, due to the financial pressures from the baby boomer generation. Less people are paying into these programs as the population of the aging baby boomer generation increases.
Gambling, alcohol, and fireworks are becoming alternatives to raise revenue rather than increasing taxes. Washington State began auctioning their liquor licenses while Georgia lifted their ban on alcohol on Sundays. Massachusetts became the 24th state to allow casinos last year similar to Ohio in 2009 and Maryland in 2008. Both Maine and Rhode Island lifted the ban on fireworks and expand gambling casinos. These alternatives to taxations prevent the loss of sales to other states and return lost income and revenue through job creation.
According to Strauss-Howe Generational Theory, the United States is currently undergoing a crisis period. Both Medicare and Social Security will be exhausted in 2024 and 2036, respectively, due to the financial pressures from the baby boomer generation. Less people are paying into these programs as the population of the aging baby boomer generation increases.
- TAGS:
- united_states,
- first_quarter,
- 2012,
- economy,
- q1
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