Know what I think? Someone else can bail out the economy, not me
Will someone please explain to me why the people who have the least money, and who spend the largest percentage of their income, have to be the ones to spend MORE money to get this economy rolling again?
Think about it. Thanks, JP, for making me think about it again.
The government is giving us a tax rebate in May to encourage spending. Go out and buy yourself something pretty, single mothers, and laugh while Rome burns. Let’s be smart about this. Do you spend more than 25% of your monthly income on rent? In much of the country, you do. Heck, I’m going to be spending more than half my income on rent when I move out of this house. If you’re making over a million dollars a year, do you think you’re going to be spending 50% of your income on rent or a mortgage? I don’t think so. The richer you are, the smaller a percentage of your income gets spent.
Let’s get the JP Morgans of the nouveau teens to step up and stimulate the economy by investing in our infrastructure, our education, our factories and our laboratories. Well, wait a minute, perhaps JP Morgan isn’t the best example:”During the American Civil War, Morgan was approached to finance the purchase of antiquated rifles being sold by the army for $3.50 each. Morgan’s partner re-machined them and sold the rifles back to the army for $22 each. The military knew it was buying back its own guns, so the so-called ’scandal’ turned out to be more about government inefficiency than any chicanery by Morgan (who never even saw the guns and acted only as a lender).” — from Wikipedia…
All I’m saying is, someone else go out and spend their money to bail out this recession. Please don’t ask those of us who don’t always make ends meet to continue to go into credit card debt for you.
Tags: economy, macroeconomics, single-mom, single-motherRelated Stories
POSTED IN: money
2 opinions for Know what I think? Someone else can bail out the economy, not me
Lisa
Mar 25, 2008 at 3:59 pm
I spend way more than 25% of my income on rent right now. So no, I won’t be running out with my “rebate” to stimulate the economy. It will be going to pay debt.
christina
Mar 25, 2008 at 4:05 pm
Seriously. I’m about to spend more than 50% on my rent/housing. It scares me to death… but I don’t have a car payment and the move is a big jump in quality of life. It’s worth the money but MAN! That piddly $600 or $800 we’re getting back is just going to eek us through until the ex decides to pay child support.
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