Posted Jan 30, 2013 by Martin Armstrong
I laughed when I heard they were going to let the Bush Tax Cuts expire. I SAW the 2% decrease in my pay. I now bring home @$200 less per month than I did in Decembere. So what does that mean to me … 1) I am getting rid of Sirius XM Radio (@$200/yr) 2) I already lowered my cable TV premium (@$49/month) 3) We will go out to eat 2-3 times less per month (@140/mo) . Those are the “easy” cuts. When they raise taxes again It won’t really “hurt” me because I will just get rid of more of my “fun spending” .
Don’t they realize that other people are going to reduce their spending as well? Start watching the subscriptions of cable companies, wireless phone providers, etc.. That will be a telltale sign of the impact of the 2% increase in taxes.
These clowns are going to drive the economy in to the ground. It’s already running on fumes. I guess they think that driving it over a cliff will make it much more enjoyable to watch. Unfortunately there won’t be a big explosiion when it hits the ground … just a bunch of dust.
I know of two companies owned by friends that are hanging by a thread. Any reduction in sales will spell the end of their companies. That’s only about 40 workers. Now multiply that by 100,000 other businesses surrendering to the economy and we’ll all be standing around looking at each other.
Eventually we will become “Great Britain” and repeat their history and become a second tier nation. In the meantime I am going to enjoy life to its fullest … with less cash in my pocket!
I love your work and I look forward to the March conference … I’ll be there!