US Tax Increases and Debt Pose Major Risks

“I will break the pride of your power” (Leviticus 26:19)

Taxes for many living in the USA are to go up on January 1, 2013:

Psst, taxes go up in 2013 for 163 million workers

AP – Oct 21, 2012

President Barack Obama isn’t talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election. http://apnews.myway.com/article/20121021/DA221AF00.html

Some have called this increase “taxmageddon” a take-off of the term Armageddon used in the Bible (Revelation 16:16; see earlier post, 12 Weeks to ‘Taxmaggedon’). The problem that the USA is facing is difficult and the results likely catastrophic. On the one hand, the USA is drowning in debt and this is a major risk, hence various ones believe that tax increases are the answer. On the other hand, tax increases tend to reduce the productive economy and can cause reductions in economic growth, which in turn can lead to more debt.

The danger of USA debt to its military is a concern that many have:

22 October 2012

Many see U.S. debt as a threat to national security. But they don’t agree on what role defense spending should play in deficit reduction.

NEW YORK (CNNMoney) — The national debt is not on the official agenda for Monday’s presidential debate on foreign policy.

But it may as well as be. A chorus of former military leaders, current administration officials and fiscal hawks have all labeled the country’s debt a threat to national security.

“A nation with our current levels of unsustainable debt … cannot hope to sustain for very long its superiority from a military perspective, or its influence in world affairs,” Admiral Michael Mullen, former chairman of the Joint Chiefs of Staff, said last month.

The concern: If the debt continues to grow unbridled, the U.S. government will be constrained in its ability to pay for what it wants to do militarily and diplomatically. And it could limit the country’s leverage with foreign powers. http://money.cnn.com/2012/10/22/news/economy/national-security-debt/?source=cnn_bin

Bible prophecy takes the above a step further and ties high debt in with destruction. The Prophet Habakkuk mentioned that destruction will happen to someone that increased their debt at the end times:

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you. Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:3,5,6-8).

The above prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use same the Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. As far as “violence of the land” as a contributing factor, this would seem to include crime, military missions, violent sports, and perhaps riots/civil unrest–are these not characteristics of the USA?

The economy, debt situation, and moral situation in the USA is serious and will end in ways that most Americans really do not believe is possible. National repentance is what the USA needs to fix its problems.

To learn more, please check out the following articles:

Taxes What caused the descendants of Israel to pay taxes? Should Christians pay taxes?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Some Dissimilarities Between The Church of Jesus Christ of Latter Day Saints (LDS) and the Real Church of God The genuine Church of God is not related to the Mormons and this article explains some differences and a couple of similarities. Also, might certain LDS prophecies apply to Mitt Romney?
Barack Obama, Prophecy, and the Destruction of the United States This is a new 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about Mitt Romney. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Mitt Romney?
Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it: Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon’s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition.