Comments on: Will Your Standard of Living Bubble Burst?

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Mon, 25 Aug 2008 20:38:01 +0000

Matt – Unfortunately, for a lot of people its going to require structural changes in their standard of living. A lot of them have been living financially on hopes and prayers since the dot.com days, then through the real estate bubble. It’s all over for them.

By: Matt

Matt — Mon, 25 Aug 2008 20:10:20 +0000

Nice research here. Sadly, it will take such recent events to get the majority of Americans back into the savings & investing mentality. Too bad we require the “Three Stooges slap across the face” wake up call to get our own financial house in order.

But hey – China and India can continue to buy all of our debt forever (sarcasm included)? Right?

By: MasterPo

MasterPo — Mon, 25 Aug 2008 12:52:56 +0000

Good article. I agree about the CC’s.

However, you and others who speak of savings and costs always overlook the most *significant* cost out there: TAXES!

Between my Federal, State, FICA and Medicare tax I loose 37% of my pay before I even see it (over 40% when I lived in NYC and had to pay city income tax). With what’s left I then have to pay sales tax, use tax, excise tax, property tax, energy tax, disposal tax, import tax, port tax, required licenses/permits/registrations (another form of tax), government service charges, etc etc etc.

I’d LOVE to say more! But how can I? And if I work really hard and make more money, I have a “silent partner” who will take even more the better I do.

And now we have politicians promising to raise taxes more, how “unfair” it was they were reduced, and have you looked at all the green/global warming proposals out there? They ALL start with raising taxes more!

It’s not always the individual’s fault.

By: Eric Hundin

Eric Hundin — Mon, 25 Aug 2008 12:48:26 +0000

I found your blog on MSN Search. Nice writing. I will check back to read more.

Eric Hundin