the usa's debt dwarfs china's debt ..., page-74

CT,
You paint a dark whirlpool scenario.
What to do ?
The man who stays frozen in the spotlight will become roadkill. You haven't told us when "D" day is !

I took your suggestion and read the NY Times back through the 30's -- in about 1935 the US raised inheritance taxes to a top rate of 75 % to recoup all the stimulus packages.
I am in self managed super -- this is a defacto inheritance tax because when you die the exit tax is 15%.

I have 3 kids -- they need a house each-- so I am gifting 80% of the house cost to them now.

Slowly we will buy 3 + weatherboard houses in a row on a main road and get a land bank near the Epping to Parramatta railway. When it is finished it should translate into a far higher development intensity. Even if the house price falls 50% we can pay out the loan and sit for 20 years.
House prices in my suburb went up 13% last year.

Whatever I do will be better than suffering all the tax increases that are sure to come and the kids have to get out.