Land of the stupid, Home of the screwed

[canadianhitman]

It's not a ton of money but I wouldn't consider it scrapping by.

In an expensive city with two or more kids, it's scraping by.

 

[EnderJE]

that's the problem. Americans (and more specifically white americans) are very gullible. Or at least very susceptible to being that way it seems.

r@c1st!

 

[uamaverick]

-Taxation of businesses is killing a lot of revenue building. It's impossible to tax a business, you tax the individuals that make that business successful and the consumers that make up the client base of their service or product. The reason why blue collar jobs are insufficient now is because we do not make anything anymore. We outsource so much in this country now that if (when) things get to the breaking point, we're going to be entirely screwed. How can we possibly compete on an international scale when businesses can't pay their employees equal and above inflation per year because of high taxation?

-As Wulfgar said, the only way out of this mess is a solution that simply will not fly in this country. We are going to have to reduce the yearly fiscal budget by at least $1 trillion per year. This will mean millions of Americans will suffer in the short term, and possibly a great deal of suffering. 100s of thousands of jobs will be eliminated, welfare and section 8 packages will be reduced by 80%, collegiate financial aid will be cut by 70%, and a plethora of other programs will be drastically cut or eliminated. A short-term quality of life indicator will absolutely drop sharply. This will be impossible to pass, because it requires everybody in the executive and legislative branches to go all in, and that simply is not going to happen, nor is our voter base at the point where they're willing to give up that much.

-I believe that middle class Americans who complain about rich people are just that, complainers. I'm not a wealthy person. I just now finally landed a job where I feel like I'm making solid money. I didn't go out and buy a new car, even though that's what a lot of my friends and family suggested I do. I still drive my 2000 Chevy Blazer with 128k miles on it. It's been a good car to me, and automobiles are terrible investments. I still live on beans and rice. I've upgraded from one package of ramen noodles a day to eating two ham and turkey sandwiches with mayo a day. I haven't gotten take out one single time at work for lunch since I started my new job. My coworkers make fun of me. They all drive nice sports cars and order for lunch, and go out to dinner 4 times a week. I've gone out with friends once in two months, and I only had two drinks. I have a vision for where I want my life to be, and I'm living beans and rice to make that happen now. I've already saved up enough money to blow it on TONS of stuff: 55 inch LEDs, sound systems, designer clothes, and what have you, but I don't. I just bought a new button down shirt at Academy Sports for $15, and almost wept at parting with my money. I WILL be ahead of my coworkers financially in 5 years or less, you can count on that.

-One quick final thought. When things get to that aforementioned breaking point economically, we have the resources we need to get out of it. All of those oil wells we drilled dry in the 1950s and 1960s? They're all full to the top in oil today.

 

[mrplunkey]

-Taxation of businesses is killing a lot of revenue building. It's impossible to tax a business, you tax the individuals that make that business successful and the consumers that make up the client base of their service or product. The reason why blue collar jobs are insufficient now is because we do not make anything anymore. We outsource so much in this country now that if (when) things get to the breaking point, we're going to be entirely screwed. How can we possibly compete on an international scale when businesses can't pay their employees equal and above inflation per year because of high taxation?

-As Wulfgar said, the only way out of this mess is a solution that simply will not fly in this country. We are going to have to reduce the yearly fiscal budget by at least $1 trillion per year. This will mean millions of Americans will suffer in the short term, and possibly a great deal of suffering. 100s of thousands of jobs will be eliminated, welfare and section 8 packages will be reduced by 80%, collegiate financial aid will be cut by 70%, and a plethora of other programs will be drastically cut or eliminated. A short-term quality of life indicator will absolutely drop sharply. This will be impossible to pass, because it requires everybody in the executive and legislative branches to go all in, and that simply is not going to happen, nor is our voter base at the point where they're willing to give up that much.

-I believe that middle class Americans who complain about rich people are just that, complainers. I'm not a wealthy person. I just now finally landed a job where I feel like I'm making solid money. I didn't go out and buy a new car, even though that's what a lot of my friends and family suggested I do. I still drive my 2000 Chevy Blazer with 128k miles on it. It's been a good car to me, and automobiles are terrible investments. I still live on beans and rice. I've upgraded from one package of ramen noodles a day to eating two ham and turkey sandwiches with mayo a day. I haven't gotten take out one single time at work for lunch since I started my new job. My coworkers make fun of me. They all drive nice sports cars and order for lunch, and go out to dinner 4 times a week. I've gone out with friends once in two months, and I only had two drinks. I have a vision for where I want my life to be, and I'm living beans and rice to make that happen now. I've already saved up enough money to blow it on TONS of stuff: 55 inch LEDs, sound systems, designer clothes, and what have you, but I don't. I just bought a new button down shirt at Academy Sports for $15, and almost wept at parting with my money. I WILL be ahead of my coworkers financially in 5 years or less, you can count on that.

-One quick final thought. When things get to that aforementioned breaking point economically, we have the resources we need to get out of it. All of those oil wells we drilled dry in the 1950s and 1960s? They're all full to the top in oil today.

Great post.

And here's the paradox. If enough middle-class Americans realize that you just typed, it will allow us to create an atmosphere where more of them become top income earners.

Incidentally, I love your attitude and the sacrifice will pay off. I've seen people like this before with your attitude and the smart money is on them. There are no guarantees, but there sure are inclinations. Hell, I'm downright pulling for you now.

 

[canadianhitman]

Great post uamaverick...unfortunately, your long-term planning over short-term luxury is the exception and not the rule in society. Most people can't wait to max out their house, clothes, vacations, and vehicle(s) to account for every penny (and often more) of their new higher salary. I am shocked how many people I know don't max out their RRSP (Canadian equivalent of 401k), tax-free savings account, ect...let alone have enough in a savings account to cover 6 months of expenses in the event of losing their job. I'm nowhere near as spartan as you, but I make damn sure to have my financial bases covered every year with RRSP, TFSA, general savings/investments before I start treating myself. If more people had the sense to do the same, there'd be less blood in the streets when the economy has a hiccup.

 

[75th]

If more people had the sense to do the same, there'd be less blood in the streets when the economy has a hiccup.

What if that economic hiccup resulted in peoples 401(k) balances dropping by 30-50%?

Thats a helluva case of indigestion.

 

[canadianhitman]

What if that economic hiccup resulted in peoples 401(k) balances dropping by 30-50%?

Thats a helluva case of indigestion.

Having 50-70 percent of the money you have saved is better than having dick-all money saved, crushing debt, and a job in jeopardy.