Ran across a story in the Wall Street Journal talking about a survey of rich people, that is Obama rich people, those making more than 250-thousand dollars, measuring how they feel about this current financial crisis. According to the study done by American Express, 69% are worried that they may run out of money, or at the very least have to cut back on spending.
Now, in my world, when I think of cutting back spending, that means I’m worried about how I’m gonna pay my mortgage, car note or gas and electric bills. Fancy food and wine are the first things that go, as well as cutting back on driving. Restaurants and take out food are out of the question in these tough times.
But rich people, as we know, think differently. What do they say they need to cut back on? Buying SUVs, jewelry, leather goods, handbags, and private jet usage. They would also, according to the report, cut down on home decor and fine liquor.
Another difference, the rich look at the current mortgage crisis as an opportunity rather than a headache. Fully 30% said they are buyers this year.
It all comes down to your cash cushion....rich people have a cushion....poor people don’t. But we all worry the same way, apparently.
On another front, Congress is debating about whether to give out another round of stimulus checks in addition to food stamps and extending unemployment benefits. While I and my neighbors can use the extra money, I worry about whether we, as a nation can afford it, on top of all of these other promises being made to the corporate world and banking.
I mean, rather than printing or borrowing more money....how about some jobs....you know, work in exchange for cash? Can we take some of that 700-billion dollars and get some infrastructure work going on to employ some of these laid off skilled laborers who need to feed their families? And I’m talking jobs with a real wage. For years corporations have been cutting payroll or giving substandard raises if at all, while at the same time padding the pockets of their Directors, and CEOs.
I like Obama’s idea of tax breaks for those corporations who hire Americans right here in America rather than shipping it all overseas. Do you realize how many families could benefit if say the 24 million dollar golden parachute given to Carli Fiorina were given to them instead of her? She nearly bankrupted her company, yet walked away with all that money.
Off topic Question.......The American car company that builds the 60 miles per gallon Fiesta, soon to be on the market.....why is that car not being sold in America? Why can’t they sell it in America? Flex cars, which have just recently come to the American market, have been sold in South America for years, WHY? Why screw us? If corporations would take care of their own, maybe we wouldn’t be having this financial breakdown right now. The usual answer is that they need to use overseas workers in order to remain profitable. American workers cost too much. We won’t work for 50-cents an hour. Yeah we do cost, but we make a helluva product and why does your profitability need to be high enough to pay your CEO mega millions golden parachute?
You want to cut government.....how about getting rid of the Department of Homeland Security. The stuff it purports to do overlaps already existing departments...Let’s cancel all contracts with KBR and Haliburton and Blackwater...they were no bid sweetheart deals for Cheney’s friends....there’s got to be some kind of eminent domain type rule that allows the government to back out of these bad deals.....How about cancelling the contracts for all those useless and already out dated weapons?....
Question...Why do we pay farmers not to grow food? Is there still a rice shortage in the world that could be aided by us doing away with these types of subsidies? Just asking..
Other places to cut...The Internal Revenue Service....somebody please revise the damn tax code...it’s killing us! Just start by making it understandable, please!
Let’s go through the books and cancel any deal written by lobbyists....like our national energy policy...and then rewrite it to benefit the people, rather than the industry it purports to regulate...That would cut a lot of waste....in insurance, in medicare and it’s drug plans, etc...it goes on and on...
Since, I’m on a rant today....how about term limits for Congress....If the president can only serve two consecutive terms...why should congressmen be allowed more? I’m tired of entrenched public servants who have forgotten that they work for us, not themselves...
Lobbyists....I would like them banned, period. No perks or gifts exceeding 25-bucks..that’s the rule that all corporations live by, why not congress..
Line Item Veto....I think the President needs one.
And although I’m dreaming....how about mandating a balanced budget by the end of the president’s four year term or when he/she turns over the government to the new president....with consequences to be determined if he or she fails to deliver....