Inflation, Taxes, and Self-Sufficiency
I recently received an e-mail from T.F. in Utah, who quipped: “They tell us that inflation is now non-existent. Well, how many years of deflation will it take to get prices back to where they once were? It is noteworthy that the average annual property tax on a house on a city lot now exceeds the entire land purchase price and construction cost of a comparable square footage house, in 1890.” Inflation is indeed insidious. And its has implications that are far-reaching. For example, consider the following: Creeping tax increases one of the reasons that it is now nearly impossible …