How Angry Are You?
One of the most heavily reported economic stories of recent weeks was the widespread anger over bonuses paid to AIG executives. What isn’t making the news, but is probably far more significant, is a different type of anger that I am hearing from friends and clients.
Suppose, like most of my clients, you have worked hard all your life. You educated yourself and found a good job. You showed up daily and did everything you were asked and more. If you went into business, you took risks. You learned to live on less than you made and saved as much as you could.
It wasn’t easy. You went without some of the luxuries that others enjoyed. Instead, you plowed the extra back into your business or put the maximum into your IRA and 401(k) plans every year. You paid your debts and your taxes on time.
For years you have been responsible and “done the right thing.” Today, you are mostly debt free. Your retirement account has grown. You don’t consider yourself rich, but you are doing okay financially.
If this describes you, I have a hunch that you are mad as hell. And it’s no wonder. Continue reading on FinancialAwakenings.com
April 12th, 2009 at 12:15 pm
A maximum tax increase for incomes over $250,000 of 4%. Before your readers get too angry they should reflect back to a period when the rate was at that same level, during the Reagan administration. At that time that tax rate was hailed as a watershed moment for the American taxpayer, freeing us from generations of tax and spend liberal policies. I know, I voted for Ronald Reagan twice.
Yet today returning to the same level, following a ten year period of negative growth of the stock market and declining real earnings for most Americans, is regarded by some as the ascent of socialism and justification for armed revolt.
I appreciate the conservative ethos but isn’t it prudent and conservative to manage your emotions and keep issues in perspective? You may start sounding like a raving liberal.