Sad news on the news....just heard Bob Herbert of the New York Times on Morning Joe saying that if you only have a high school diploma in this country that it's "virtually impossible" that you will ever own a home. Also our generation makes on average 5,000 dollars less than our parents generation did. Over the last couple decades it's just that so much of the emphasis on the economy has been put on trickle down economics. I mean I love business owners, don't get me wrong, but the tax policies, the loopholes, and the breaks that have been put in by Republicans and conservatives have been designed to help small business and corporations overwhelmingly. And their excuse is that 'well you have to help the businesses because they create the jobs' and they expect that if you give the money to the folks at the top that they'll pass it on down the line. Now I will admit, there are great business owners in the world who take the tax breaks they are given and reinvest that money back into not only their business but their people, and then those people invest money back into the economy, and everything works out swimmingly. But the problem is that the vast majority don't do that, they invest that money into their own pockets and let the working man or woman flounder. And then when the working man or woman asks for a little help they get scolded and accused of asking for a handout. As Fats Domino once said, Aint that a shame.
Tuesday, May 13, 2008
Aint That a Shame
Sad news on the news....just heard Bob Herbert of the New York Times on Morning Joe saying that if you only have a high school diploma in this country that it's "virtually impossible" that you will ever own a home. Also our generation makes on average 5,000 dollars less than our parents generation did. Over the last couple decades it's just that so much of the emphasis on the economy has been put on trickle down economics. I mean I love business owners, don't get me wrong, but the tax policies, the loopholes, and the breaks that have been put in by Republicans and conservatives have been designed to help small business and corporations overwhelmingly. And their excuse is that 'well you have to help the businesses because they create the jobs' and they expect that if you give the money to the folks at the top that they'll pass it on down the line. Now I will admit, there are great business owners in the world who take the tax breaks they are given and reinvest that money back into not only their business but their people, and then those people invest money back into the economy, and everything works out swimmingly. But the problem is that the vast majority don't do that, they invest that money into their own pockets and let the working man or woman flounder. And then when the working man or woman asks for a little help they get scolded and accused of asking for a handout. As Fats Domino once said, Aint that a shame.
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I could rant on this forever... Many things have attributed to todays' workers being "worse off" than the previous generation. The economy has become more globalized (aka US has no manufacturing jobs), the dollar has been in decline for years now (thus higher gas prices), and many Americans are not prepared. The last 8 years have been a tremedous waste of national resources. The Iraq War is bleeding our treasure dry. Instead of investing in alternative fuels, education, infastructure, real security, or a real energy policy, we have (and continue to squander) our time in the middle east.
Also Social Security is a pipe dream for the millenials (people born in the 1980's or later). Don't bank on receiving what you've been paying out. If contributing to a 401k at your current employer is an option DO IT. If not, try to set aside a little money out of each paycheck to put in a "hands off" savings account. Easier said than done, I know, but just because the government is not monetarily disciplined doesn't mean you shouldn't be.
I prefer to follow the Tim McGraw investment plan laid out in the Country hit "Live Like You Were Dyin'"
I do fortunately feel as if there is a real shift going on within our democracy. To quote that Bob Herbert column that he wrote in today's NYT "The landscape is changing before our eyes. Younger voters struggling with the enormous costs of a college education, or trying to raise families in a bleak employment environment, or using their credit cards to cover everyday expenses like food or energy costs are not much interested in hearing that the government to which they pay taxes can do little or nothing to help them."
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