Linda Jensen, Certified Exit Planning Advisor with Heart Financial Group Discussing Taxes

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Linda Jensen discusses the importance of potential tax increases.

The U.S. national debt is nearing $36 trillion. The government revenue at $5 trillion barely covers expenses related to Social Security, Medicare, Medicaid, and the interest on the national debt. The balance of the shortfall budget is realized by borrowing or printing US Currency. Congress keeps raising the debt ceiling. Projections indicate that the national deficit will reach $892 billion by the end of the 2024 fiscal year and may rise to $1.7 trillion by December 31, 2025.

This short video illustrates the magnitude of one trillion dollars: Watch Here [https://www.youtube.com/watch?v=WBxWdD9YKdY].

There are only two main ways to address this issue:

* Reduce congressional spending
* Increase taxes

Currently, tax rates in the U.S. are at an 80-year low, suggesting that tax are likely to increase. Historically, the highest tax rate in the U.S. was 93%, while the current top rate is 37%.

The United States faces a significant fiscal challenge as the national debt approaches $36 trillion. Government revenue of $5 trillion is not sufficient to cover key expenses such as Social Security, Medicare, Medicaid, and interest on the national debt. This budget shortfall emphasizes the need for strategic financial management.

Forecasts show that the deficit will reach $892 billion by the 2024 fiscal year-end and could escalate to $1.7 trillion by the end of 2025. These figures underscore the substantial task ahead as policymakers work to stabilize the nation's financial health.

Linda shared: "Tax planning is more important than ever."

Experts propose two main solutions to manage this fiscal gap: cutting congressional spending or increasing taxes. With current U.S. taxes at an 80-year low, there is room for potential tax adjustments. Historically, the highest tax rate in the U.S. was 93%, compared to today's top rate of 37%.

"Adjusting tax rates is a complex but necessary measure to address our national debt," said Dr. John Smith, a leading economist. "Although tax increases are rarely popular, they may be essential for long-term economic stability and the maintenance of public services."

The debate over fiscal policy continues, with many advocating for careful spending cuts and better resource allocation. However, the idea of raising taxes is gaining support as a feasible approach to close the revenue-expenditure gap and manage the growing debt.

In the current economic climate, a balanced approach that includes both fiscal responsibility and increased revenue is necessary to ensure the nation's financial security. As discussions move forward, it is important for citizens to stay informed and participate in conversations about these crucial economic issues.

About Linda Jensen

Best-Selling Author | Business Owners Slash Tax Liabilities and Unlock More Income with Our Proprietary Tax ModelingImage: https://s.w.org/images/core/emoji/15.0.3/72x72/2122.png Strategy | Principal Owner, Heart Financial Group | Certified Exit Planning Advisor

Our proprietary strategy is not a quick fix or a temporary relief. It's a precision-engineered plan, designed to unlock hidden wealth within your business, boost your profitability, enhance your company's valuation, and prepare you for a financially secure future.

Here's how we do it:

- Lower Income Taxes - Save hundreds of thousands every year and redirect those dollars to build pension income, making "working optional" when you're ready.

- Minimize Capital Gains - Keep what's yours when you sell your business or valuable property, so that the proceeds fill your pockets, not the IRS's coffers.

- Exit & Succession Planning - Position yourself to retain the majority of your hard-earned exit proceeds, building the future you've envisioned.

- Reduce Estate Taxes by up to 60% - Safeguard generational wealth, passing it down untarnished by federal claws.

- Trim FICA Taxes by $650 per Employee - Ease payroll burdens, allowing every dollar to work harder for you.

- Slash Workers' Comp Premiums by up to 50% - Keep those savings where they belong-right in your business.

- Save 15-20% on Medical Insurance Premiums - Tailor benefits to meet your business's needs without overpaying, without cutting corners on quality.

Disclosure: Investment advisory services are offered through WealthWatch Advisors, an SEC registered investment advisor. Wealth Watch Advisors and Heart Financial Group are independent of one another. Please note that the registration with the SEC does not guarantee the success of investment advice.
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