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============================ .......my take on this....
To many people spending well above there Means!!!
I know that the big companies...and the big banks are also to blame...but come on.... does someone who makes $60,000 -$70,000 a year really need a $180,000 dollar home,and new car (another $30 to 40 thousand dollar loan)... a boat,motocylces,snow machines,and cabin up north,or a house down south and all the things that go with it?
...HELL NO!
buying to much on credit is what did some of is. wants before needs
.am I wrong here???? post back with your coments.....
Post subject: Re: How the Middle Class Got Screwed
Posted: Aug 26 2011 1:21 AM
In the STANDS
Joined: Jul 15 2009 7:39 PM Posts: 223
Living within your means is a major part of this whole mess.
Student loans are a racket, a friend of mine has a Bachelors and is $40,000 in the hole with just that student loan debt.
In feudal Scotland, the Serfs paid the first three months wages to the local Laird in exchange for housing, shelter, defense, etc. Today in New York state, the first 5 (yes five) months go to taxes and social programs. Problem is, none of that goes toward your shelter. I am not sure when "tax freedom day" (the day you actually start earning money you can keep) is in Michigan. If the folks in the middle ages were Serfs, what does that make us?
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Rich1028
