The economy is certainly a challenge for anyone to clearly understand. The
main problem as I see it is that the middle class is being gutted by job
loss, two income families IF you can find jobs and an unbelievable tax
burden. Taxes are not just in the form payroll, sales or properties tax but
all the additional taxes tied to products. In today's paper, there is an
article about increasing the gas tax gradually over X number of years to pay
for rebuilding the US infrastructure. The middle class can not afford to pay
an additional tax.
The economy has been driven by the middle class for years.
The big problem we have is that we all want to look at our government for
answers to make the economy better. In all honesty, they can't and won't.
The Federal Reserve has no accountability to any branch of the government.
They answer to no one. Business obviously does what it feels it needs to do
to make a profit so their stock prices will increase. We all want are
401K's to go up. That often means the big US corporations sending middle
class jobs overseas while posting record profits. I live in Northern Ohio.
I see job loss on a daily basis.
If the government wants to seriously do something that they can do, they can
cut taxes dramatically. When you add up things like payroll, property,
sales and other hidden taxes, the tax rate for the middle class is close to
50%. That is just insane.
You might ask, well then how can the government run if we cut taxes?
Simple, quit spending so much. How do you cut spending? By giving the
President, regardless of which party they are from, a line item veto.
Congress, which really runs the country NOT the President, will NEVER pass a
line item veto because then they would not be able to funnel tax dollars
back to their political territory so that they can be re-elected.
I am 55 years old with six kids(16-28). This generation of kids is being
considered the first generation in US history where their standard of living
will be less than their parents. Sad but true.
The buying power of the middle class has always been the key to economic
recovery, not the rich and certainly not the poor.
All this dumped on the middle class and then the increased cost of
healthcare? I really do not see how or where the middle class survives
unless there are massive tax cuts and a line item veto to cut government
spending. Oh yes, healthcare has to be affordable. Anybody see that
happening soon???
What do I know though? I am just a broker !!!!!!!
Bob Sigworth
Bay Pointe Technology
1-800-746-1420 Ext. 235
HP 9000 & 3000 Servers & Upgrades
Buy - Sell - Trade - Rent
GSA Number: GS-35F-0510T
-----Original Message-----
From: HP-3000 Systems Discussion [mailto:[log in to unmask]] On Behalf
Of Craig Lalley
Sent: Wednesday, January 16, 2008 1:30 PM
To: [log in to unmask]
Subject: [HP3000-L] OT: Economy
I really don't understand the economy.
For the past 15+ years, home prices have been spiraling out of control.
People are spending more than they make and the savings rate has gone
negative. All that time, inflation was low, if not stagnate. Some people
even talked about the problem of deflation.
And now that home prices have all but collapsed, financial institutions
are being bailed out by foreign countries. Defaults on mortgages are at
record numbers. The ON thing stopping bankruptcy is the recent changes in
the laws.
So now, now that everyone is cutting expenses and on a budget, now that the
money system is tight. Sub-prime mortgages, which really are not
Sub-Prime... (check THAT one out), are setting records for default.. with
all this happening.
Whole Prices Soared Last Year
http://ap.google.com/article/ALeqM5jsanM66tszKz1zFq0LOG4XvWS7zAD8U6CQQ80 If
someone can explain this, in layman's terms preferably, I would really
appreciate it. (just in case it goes in this direction, I already know,
"It's all Bush's fault.") Please leave the politics out of the debate.
-Craig
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