"Control your generosity when you're dealing with a chronic borrower." In this episode of Asset Protection Today, elder law attorney Bill Alexander applies that maxim to the biggest borrower of all, the federal government, and explains what the national debt, taxes, and rising prices could mean for your finances and your family's future.

With political ads promising lower taxes, Bill offers a non-partisan reality check. He argues that taxes in some form will have to rise, so the real question is who will pay more. He walks through his view of today's historically low tax rates, why he considers tariffs a regressive tax that falls on consumers, small businesses, and farmers, and how higher oil and diesel prices ripple into the cost of food and everyday goods.

Bill also breaks down the numbers behind the federal budget as he sees them: a deficit of more than $2 trillion, a national debt above $40 trillion, and interest payments that are now the largest item in the budget. He explains why he believes the government can no longer simply "grow its way out," why Social Security cost-of-living increases may not keep up with inflation and Medicare premiums, and how the "K-shaped" economy is leaving wage earners and first-time homebuyers behind while investors do well.

If you're planning for retirement, protecting your assets, or trying to make sense of the economic headlines, this episode offers a plain-spoken perspective from one of North Carolina's most respected elder law attorneys.

Want to learn more? W.G. Alexander & Associates hosts free educational webinars on asset protection, trust planning, and long-term care. Sign up at https://wgalaw.com/seminars/

(1:09) The Biggest Chronic Borrower of All
(2:59) Political Ads & the "Lower Taxes" Promise
(5:22) Today's Tax Rates & the Sunset That Never Came
(6:35) Tariffs as a Regressive Tax
(8:50) Oil, Diesel & the Cost of Food
(11:25) The $2 Trillion Deficit
(13:05) $40 Trillion in Debt & Rising Interest Costs
(14:44) Inflation, Social Security & Raising Revenue
(16:28) The K-Shaped Economy
(18:42) Housing Affordability & Mortgage Rates
(20:25) Wrap-Up & Free Webinar Info

#TaxPlanning #NationalDebt #RetirementPlanning #AssetProtection #ElderLaw #Inflation #FinancialPlanning