Do you think you will lose your job in 2011?

The Bush tax cuts expire this year. Other taxes become active over the next couple years, and loopholes are being closed. As has always been the case, people will take “next year’s” income, this year in order to avoid next year’s taxes. Also, in anticipation of greater regulation and taxes causing price increases, consumption is being moved from 2011 into 2010. All of this means that the 2010 economy looks better than it really is. Next year, under the burden of higher taxes and decreased consumption, businesses will have to lower their costs. Since personnel is always a big expense, that means they will have to let people go (which means that the government will get less in revenue from income and sales taxes by the way). Since it is unlikely that this government will admit that raising taxes is a bad idea, some of us will not have jobs next year. Do you think you could be one of them?