#shorts
For years, we’ve been told to save for retirement using pre-tax dollars under the assumption that taxes will be lower in our golden years. But is this really the case?

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✔The Most Important Factors to Consider BEFORE You File for Benefits
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✔Why This Is The Biggest Decision of Your Retirement

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See Disclosures Below

⭐⚠️⭐Please read this⭐⚠️⭐

⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government . I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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As the end of the year approaches, many Americans are wondering whether taxes will be going up in the near future. With the economy still recovering from the impact of the COVID-19 pandemic, there is much speculation about how the government plans to address the growing deficit and budget shortfall.

Several factors suggest that taxes may indeed be on the rise in the coming years. For one, President Joe Biden has proposed several tax increases on corporations and wealthy individuals as part of his infrastructure and social spending plans. These measures are intended to fund the ambitious proposals laid out in the Build Back Better agenda, which includes investments in areas such as education, healthcare, and renewable energy.

Additionally, the IRS recently announced that it will be cracking down on tax evasion and increasing audits of high-income individuals and corporations. This increased enforcement effort is expected to bring in additional revenue for the government, further supporting the idea that taxes may need to be raised to help close the budget gap.

Furthermore, the federal government has already implemented measures to provide relief during the pandemic, such as stimulus checks and enhanced unemployment benefits. These programs have added to the national debt and deficit, making it more likely that tax increases will be necessary to pay for these expenses in the long run.

However, it is important to note that any proposed tax increases would need to go through Congress before becoming law. This process can be complex and contentious, with debates likely to center around the potential impact on the economy and businesses.

Overall, it is still uncertain exactly how much taxes will go up in the future. But with the current economic climate and government spending trends, it is not unlikely that Americans may see higher taxes in the near future. This possibility serves as a reminder to stay informed about tax policies and plan accordingly for any potential changes that may affect personal finances.