There's nothing more permanent than a temporary tax increase

A while back when crude prices were crossing all known levels and threatening to go beyond $200/ barrel, airlines came in with a "fuel surcharge" - guess what as crude prices are now at $72 these fuel surcharges remain!!

Similarly the government brought in temporary hike in rates of certain taxes to meet "social scheme costs" - these are today a permanent fixture.

The thing that the voting public needs to remember is that there is no free lunch and that the fiscal deficits of today have to be met by revenues generated in the "FUTURE". (unless of course you live in the American state of Vermont which is the only state that is not bound by any legislation to balance its books!!)

So get used to a regime of higher taxes and consequently higher prices for all goods and services. Also get used to seeing more "vice" businesses as these are the highest revenue grossers for the government. (Ironically this reflects on the voters taste to begin with). Dont be surprised if banned substances are allowed to be legally sold as long as the govt gets its share of the pie!!

So what can you as the voter do today to change the future? Start by balancing your books. Live within your means. Borrowing should be only for a house or for ones education. Cars, holidays and other "stuff" should be separately saved for.

For those "addicted" to plastic money - start using prepaid cards with zero possibility of credit on them.

Start a signature campaign to force the government to adopt a legislation to never run a deficit until 50% of all existing debts/ obligations/ liabilities of the govt are extinguished. (For the US that would amount to close to $4-5Trillion, For India that would be close to $400Billion)

Would this make life better as we know it - I dont know - but at least our children and grandchildren wont be cursing us when the country goes bankrupt one fine day!!