Sunday, May 17, 2009
Here We Go Again!
Greed, mixed with a little stupidity, played a big part in the current recession. I am talking mostly about the people who are investing in and manipulating the prices of basic things such as food and energy in order to pad their wallets. In fact I think that such trading should be banned. Necessities such as food and energy should not be traded for profit. The common people simply cannot afford higher prices on food and energy just so the rich people can get richer.
So Sayeth The Shack
Sunday, May 03, 2009
Feeling Unstimulated
I recently received a notice from a bank with which I have a card account. I have never missed a payment or been late, but the notice said they were raising my interest rate about 8 percent! I had the option of "accepting"the change or cancelling my card and paying off the balance at the old rate and terms. So I called and asked them why the increase since I had done nothing to merit this increase. They said it was because of "economic conditions". In other words I was being punished for the actions of other people, since I had nothing to do with the current recession. So I cancelled my card. If that's what they're going to do, screw them! I hope they do fail! I encourage everyone else in this situation to do the same thing so the banks will get the message!
So Sayeth The Shack
Thursday, April 23, 2009
Trickle-Down Taxation
Previously I had been all for the idea of increasing taxes on better-off individuals and companies while keeping taxes low on the rest of us. But this little exchange got me to think. If the company I work for has to pay more taxes, they will have less money to pay their workers or to invest in capital improvement. So really a tax increases on businesses and well-off individuals can really also end up being a tax increase on the rest of us, without the rest of us realizing it. So we end up paying one way or the other.
Of course there is no guarantee that if our employers get to keep the money, they will use it to increase our compensation or to better our working conditions.
So Sayeth The Shack
Thursday, December 18, 2008
We're All Going To Pay Dearly
Gas prices are way down. Other prices are coming down. There are plenty of bargains out there.
As long as you still have a job.
BUT WAIT!!!!
Have you heard about the tax and fee increases?
Due to loss of revenue from real estate values and other investments, most municipalities are increasing taxes and fees. Five percent seems to be the going rate where I live. A 5 percent real estate tax increase. A 5 percent sewer rate increase. And increases across the board on virtually all services...like trash collection, etc. Soon they'll be charging us by the street foot frontage to plow the snow. Renters, many of whom are on fixed incomes, will get slammed as landlords pass on all the increases.
What lies ahead? No one knows. Certainly not the "experts" who just months ago were predicting $10/gallon gas in the near future. Where is all the money going to come from for these "bailouts"? Oh yeah...I know...HIGHER TAXES FOR US!! So my grim prediction: more of us will lose our jobs, prices can only go so low, but taxes and fees will continue to go up, to the point where many of us will not be able to pay them.
A side note: What I can't believe is the NFL is losing money and cutting jobs. Yeah right. With the price they charge for tickets plus all the advertising revenue? I see those stadiums filled every week on TV. That's a crock o' crap that they're losing money.
So Sayeth The Shack
Wednesday, November 19, 2008
Bailout For The Common Folk
But will it help you or me? Maybe. Maybe not.
So here is my idea: bail out the common people instead. I don't mean a token thousand bucks or so like the government sent out earlier this year to "stimulate" the economy. Obviously that didn't work. Why not? Because instead of spending the money on new items, a lot of people, like myself, used the money to pay down debt. So what will work? Bail us out of our personal debt. Maybe not out mortgages but all other debt. I know that some people are are in debt through their own stupidity and foolishness, but many have had to borrow...use credit cards...whatever...for emergency home or auto repairs, medical expenses, etc. Having this debt erased would free up huge amounts of cash that could stimulate the economy from the bottom up which will likely work better than trying to stimulate it from the top down.
So Sayeth The Shack
Saturday, October 11, 2008
Serves You Right
SERVES YOU RIGHT, I SAY
Those who mess with the lives of others by speculating in the markets of necessities such as food and fuel and driving prices upward for the common person deserve to lose their money, I say. Just look at the economic toll of $140/barrel crude and $4/gallon-plus gasoline plus the huge rise in food prices. People going broke, losing their jobs and losing their homes so that some other greedy person could have even more money.
Now its time for those greedy people to lose some of what they have.
What goes around comes around.
So Sayeth The Shack
Thursday, October 09, 2008
Will Anything Be Learned From This?
If we as individuals get "bailed out" every time we make a mistake, will we ever learn anything from our mistakes? Probably not. We will just figure that everything is OK and even if we make the same mistake again, it will still be OK because someone will again bail is out.
While this government bailout might help the economy, eventually, I fear that sometime down the road, we will find ourselves in the same boat once again and will again be looking for a bailout.
On all levels, from the individual to the corporation to the nation, we must at some time have to face the consequences of our action and of our mistakes if we are ever to learn not to repeat them.
So Sayeth The Shack
Sunday, September 21, 2008
Don't Be a One-Issue Voter
There are many such "one-issue voters" out there. They vote based on the candidate's stand on one issue only. For some, the issue is abortion rights. For others it may be gay rights, or gun control, or some other thing.
This is not the way to pick our political leaders. We must figure out which candidate will do the best job overall leading our nation. We may not agree with their view on every issue, but sometimes sacrifices must be made. We must try to pick the person who has the best vision for our nation's future and will do the best job turning things around and getting us back on track as a world leader.
As far as abortion rights are concerned, I believe that this is a personal issue. I personally believe that abortion is wrong, but I believe that each woman must be given the freedom to decide this issue for herself.
As far as gay rights are concerned, I believe that we must treat all human beings equally regardless of their sexual orientation or other characteristcs. If being gay is a "sin" then God can deal with it at the appropriate time.
As far as gun laws are concerned, this would have been a much better world if guns had not been invented in the first place. Can we go back in time and undo that one? But seriously I believe that everyone has the right to own a gun to defend themselves, their family and their property, and to hunt if they so desire. The exception would be convicted criminals and those who are mentally unstable and have displayed suicidal or homicidal tendencies.
So Sayeth The Shack
Monday, August 11, 2008
Don't Be Fooled
The point is, whatever you were doing earlier this summer to save on gasoline, KEEP IT UP!!
Drive less, combine trips and errands, put off that vacation trip, switch to a more fuel-efficient vehicle, if possible. Don't be lulled into a false sense of security that the crisis is over. This has happened time after time in the past, and we never learn. Do you think we've learned this time? Only time will tell.
So Sayeth The Shack
Friday, August 01, 2008
Post-Election Taxes
The following was received via e-mail. Thought I would pass it on.
DATA ON TAXES
Proposed changes in taxes after the 2008 General election:
CAPITAL GAINS TAX
MCCAIN
0% on home sales up to $500,000 per home (couples). McCain does not propose
any change in existing home sales income tax.
OBAMA
28% on profit from ALL home sales
How does this affect you? If you sell your home and make a profit, you
will pay 28% of your gain on taxes. If you are heading toward retirement and
would like to down-size your home or move into a retirement community, 28%
of the money you make from your home will go to taxes. This proposal will
adversely affect the elderly who are counting on the income from their
homes as part of their retirement income.
DIVIDEND TAX
MCCAIN 15% (no change)
OBAMA 39.6%
How will this affect you? If you have any money invested in stock market,
IRA, mutual funds, college funds, life insurance, retirement accounts, or
anything that pays or reinvests dividends, you will now be paying nearly
40% of the money earned on taxes if Obama becomes president. The experts
predict that 'Higher tax rates on dividends and capital gains would crash
the stock market, yet do absolutely nothing to cut the deficit.'
INCOME TAX
MCCAIN (no changes)
Single making 30K - tax $4,500
Single making 50K - tax $12,500
Single making 75K - tax $18,750
Married making 60K- tax $9,000
Married making 75K - tax $18,750
Married making 125K - tax $31,250
OBAMA (reversion to pre-Bush tax cuts)
Single making 30K - tax $8,400
Single making 50K - tax $14,000
Single making 75K - tax $23,250
Married making 60K - tax $16,800
Married making 75K - tax $21,000
Married making 125K - tax $38,750
Under Obama, your taxes could almost double!
INHERITANCE TAX
MCCAIN 0% (No change, Bush repealed this tax)
OBAMA Restore the inheritance tax
Many families have lost businesses, farms, ranches, and homes that have
been in their families for generations because they could not afford the
inheritance tax. Those willing their assets to loved ones will only lose
them to these taxes.
NEW TAXES PROPOSED BY OBAMA
New government taxes proposed on homes that are more than 2400 square feet.
New gasoline taxes (as if gas weren't high enough already)
New taxes on natural resources consumption (heating gas, water, electricity)
New taxes on retirement accounts, and last but not least....
New taxes to pay for socialized medicine so we can receive the same level
of medical care as other third-world countries!!!
You can verify the above at the following web sites:
http://money.cnn.com/news/specials/election/2008/index.html
http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html
http://elections.foxnews.com/?s=proposed+taxes
http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/
http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/
Thursday, July 31, 2008
Twenty Million To Retire? Sure!!!!!!
WOW! I wish somebody would give me $20 million to retire! In fact, I'd be happy with a tenth of that....it should last me the rest of my life with no problem whatsoever, and I'd be living better than I do now.
So Sayeth The Shack
Monday, July 21, 2008
Leave The Gas Tax Alone
According to an article in yesterday's paper, however, this talk has been mostly silenced, and replaced by the idea of raising fuel taxes. This new idea is being "quietly" discussed in congress (sounds a little like pay increase that Pennsylvania lawmakers voted themselves in the not so distant past) especially among those who have constituents who would profit from additional road construction.
At this time I feel that both of the above are bad ideas. Lowering or temporarily eliminating the tax would be bad because the money is need for road repair. And oil companies would probably just raise the prices back to where they were before the tax reduction anyway. Raising the tax is an even worse idea given the current economic situation. The consumer, the very engine that is supposed to be driving this economy, is already being suffocated by massive increases in the cost of necessities such as food and fuel. The higher tax would further increase the cost of fuel, which would, in turn, cause even higher prices for everything else. This would just strengthen the economic choke hold on the consumer and would ultimately not benefit anyone. So the best thing to do right now is to not change fuel taxes at all.
So Sayeth The Shack
Sunday, July 13, 2008
Well Said
I think that very nicely sums up some of the things that I have been trying to say in posts concerning the economic excess of some at the expense of the unmet needs of others. If everyone in this world would simply take only what they needed. I believe that there would enough to cover the needs of everyone and that no one would be homeless or starving.
There are those who say that people who live a lavish and extravagant lifestyle have perhaps worked hard and earned the money and the right to spend it any way they want. That is true, but does anyone really need massive homes on huge plots of land, a fleet of lavish, gas-sucking vehicles, designer clothes, jewelery, etc.? It would be better that these people would donate of their excess and live humbly and simply so that others' basic needs might met.
So Sayeth The Shack
Monday, July 07, 2008
Now This Is What I'm Talkin' About!
http://www.cnn.com/2008/LIVING/wayoflife/07/02/hunger.house/index.html?eref=rss_topstories
CNN





ATLANTA, Georgia (CNN) -- One day while driving with her father, Hannah Salwen noticed a Mercedes stopped next to a homeless man sitting on the curb.

The Salwen family of Atlanta, Georgia, has decided to sell this house and give half the proceeds to charity.
And so began the tale of what the Salwen family calls "Hannah's Lunchbox." Watch why family wants to give away $800K »
It started as family discussions about what they needed versus what was enough. Hannah's father Kevin, an entrepreneur, is on the board of the Atlanta Habitat for Humanity and is no stranger to community work, but he said this family conversation was life-changing.
"We stopped and paused and thought about what are the things in the world that could really make a difference, a little bit of difference in the world," he said.
They talked about selling their cars or other things, but it was Hannah's mother, Joan, who came up with selling their 6,500-square-foot house, donating half the proceeds and then moving into a house half the size.
For nine years, the family lived in a historic 1912 mansion near downtown Atlanta. It boasts five bedrooms, eight fireplaces, a kitchen that would make any cook jealous and even an elevator. See the new and old houses, side by side »
When Hannah would bring friends over, she said, often their jaws would drop and they'd gasp, "Wow, you live here?"
Like most teens, Hannah loves to shop, and she jammed every space of her massive walk-in closet full of clothes. But she also knows many people are less fortunate; she volunteers at a local community food bank and other relief agencies.
Joan Salwen, a teacher, said the mansion was her dream home.
"It was a challenge," she said of giving up that house. "It was a test, almost, to see: How committed are we? I mean, how serious are these kids about what we should do? And they all nodded and there we were."
So the Salwens put the house up for sale in May 2007 and started figuring out what they would do with half the proceeds, which would amount to more than $800,000.
They spent six months researching charity organizations before deciding on the Hunger Project, an organization dedicated to helping end world hunger through people helping themselves.
Hunger Project Vice President John Coonrod said the family met with organizers in New York and notified them months later that the charity was the winner.
When the Salwen house sells, the money will be channeled through the Atlanta Community Foundation over a six-year period and end up in Ghana, Coonrod said.
"This will underwrite a process in more than 30 villages to enable people to meet all of their basic needs on a sustainable basis," he said. "They will be able to grow enough food, to build clinics and schools, and the villagers will be doing the lion's share of the work."
Coonrod said he'd never heard of a family donating in this way.
"Hannah's awakening to social injustice, and her family's ability to make a difference in that issue will make a profound difference in the lives of tens of thousands of people," he said, estimating the money could affect more than 20,000 people in Ghana.
Hannah's 13-year-old brother, Joseph, was so impressed with his big sister's ideas that he made a three-minute video of the family's project. Watch Joseph's video
The video won the grand prize in the 2008 "My Home: The American Dream" contest, sponsored by Coldwell Banker and Scholastic Publishing.
In the video, Joseph tells viewers, "We're showing you can redefine the American dream."
But the Salwens' house has sat on the market for more than a year. It's a tough time to sell any house, let alone one with an asking price of nearly $1.8 million.
Real estate agent Sally George said she's shown the house 40 or 50 times, and there have been nibbles but no buyers. See the house's real estate listing
Many people are interested in the house's rich history but often don't know anything about the philanthropic aspects of the family's project.
"I've never handled a house selling for this reason," George said. "I didn't learn about what the family was doing until early this year."
Hannah and Joseph said most of their friends at school don't know about it.
"We didn't do it for the fame or the glory," said Joan Salwen. "This was something Hannah sort of yanked us into."
Even though it was Joan Salwen's idea to sell the house, it has been tough for her to give it up. "I have to admit," she said, "I loved living in this house. Does that make me an evil person? I hope not because it's a beautiful place."
The family recently moved to a house less than half the size of their mansion four blocks away. While Hannah's friends called her old home the "wow house," this one is more ordinary and that's fine with her.
Lately the family has spent a lot of time around the kitchen table talking about an upcoming two-week trip to Ghana. The Salwens will spend six or seven hours a day visiting the villages where their money will be put to work.
Kevin Salwen said the new house is great, it's just smaller.
"We as Americans have so much," said Salwen, a former Wall Street Journal writer. "We love the concept of half. We are going from a house that's 6,000 square feet to a house that's half the size, and we're giving away half the money.
"And we do think everyone can do something if they think through half."So Sayeth The Shack
Saturday, June 14, 2008
A New Way To Fund Our Roads
Some of the more comical ones might be "The Enzyte Expressway" and "The Viagra Viaduct Bridge"!!
So Sayeth The Shack
Tuesday, May 27, 2008
How To Spend Your Rebate
IRS rebate, and just who it finally Helps !
The federal government is sending each and everyone of us a $600 rebate.
If we spend that money at Wal-Mart, the money will go to China .
If we spend it on gasoline it will go to the Arabs.
If we purchase a computer it will go to India ..
If we purchase fruit and vegetables it will go to Mexico , Honduras , and Guatemala ..
If we purchase a good car it will go to Japan .
If we purchase useless crap it will go to Taiwan ....and>none of it will help the American economy.
The only way to keep that money here at home is to buy prostitutes, weed, beer, and tattoos, sincethese are the only products still produced in the USA .
Thank you for your help & please support the USA......
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Wednesday, May 21, 2008
The Fifty Buck Car Wash
So Sayeth The Shack
Sunday, April 27, 2008
More Worried About Animals Than People?
Whenever the circus comes to town, there are people who write letters to the editor of our newspaper protesting the way the animals are treated. Animals that are supposed to be running wild in Africa, Asia or wherever are instead captured, trained and made to perform for our entertainment. I do not totally disagree with the writers of these letters. However, human beings have been subjugating animals just about as long as there have been human beings on this planet. We have captured them, tamed and domesticated them, put them to work for us, made pets out of them, and made food out of them. The circus animals are probably treated relatively well compared to some of these others. But more importantly, I wonder if these same letter-writers are just as horrified by the way we treat other human beings. I am not specifying any "we" in particular, but human beings in general are not know for their wonderful treatment of other humans. Slavery, genocide, torture and war are just some of the examples. And you don't have to go to some far-flung country. Right here at home, in the news on a regular basis, are examples. In fact the majority of us are now being forced into poverty by Big Oil, Big Business and Big Government. So before we worry about how the circus animals are treated (I'm sure they are well fed, at the very least), we should worry about how we treat others, starting with our family and neighbors and going outward from there.
So Sayeth The Shack
Monday, April 21, 2008
Some Pennsylvanians Unable To Vote
The reason?
They can't afford the gas to drive to their polling place!!!!
So Sayeth The Shack
Thursday, March 27, 2008
Ecomonic Disaster Fast Approaching
NEW YORK (CNN) -- Let's say a giant asteroid was headed toward Earth right now and experts say it has a good chance of ending civilization as we know it. Let's also say that we've known about this asteroid for years but even as it gets closer and closer our leaders do nothing.
"Don't worry," they tell us, "The next administration will figure something out."
With the future of our country at stake, would Americans really sit back and tolerate that kind of inaction? Of course not -- we'd be sharpening our pitchforks and demanding answers.
Well there may not be a space asteroid heading toward us, but there is an economic one -- and the threat to our future is just as severe.
You might think that I'm talking about the recession (sorry: potential recession) or credit crisis, but I'm thinking bigger. Much, much bigger.
Let me give you three numbers that will put this economic asteroid into perspective: $200 billion, $14.1 trillion, and $53 trillion.
While no one will ever mistake me for Alan Greenspan, it seems to me that the third number is quite a bit larger than the other two. It also seems very few people care.
According to the latest Social Security and Medicare Trustees report (and I use that term loosely since it has the word "trust" in it) released earlier this week, the economic asteroid will first make impact in the year 2019 when the Medicaid trust fund becomes insolvent.
Only an immediate 122 percent increase in Medicare taxes and a 26 percent increase in Social Security taxes can prevent (or more likely, delay) its impact.
Realizing that Americans have become pretty much numb to these kinds of ridiculous sounding proposals, U.S. Treasury Secretary Henry Paulson tried to up the ante this week. "Without change," he said, "Rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues, and threaten America's future prosperity."
Now, I know we're all worried about important sounding things that none of us understand, like CDO's, SIV's, and Credit Default Swaps, but did you hear what our Treasury Secretary just said?
"Rising costs will ... consume nearly all projected federal revenues ..."
Translation: Every single tax dollar that is sent to Washington will be used to pay for just these two programs.
That means no money is left for anything else. Nothing. No Department of Defense or Homeland Security, no Department of Energy, no Department of Justice, no Environmental Protection Agency, no Internal Revenue Service. Actually, knowing our government, they'd probably keep the IRS going somehow.
Of course, none of this is exactly breaking news. Our leaders have known about this rapidly approaching asteroid for years now and they've done nothing but debate it. At the same time, I'm a realist. I understand that this stuff is "the third rail of politics," but our leaders' negligence on this issue is damn near criminal. No, correction, it is criminal.
Americans aren't afraid of the truth. In fact, we crave the truth only slightly more than we crave a leader who will actually give it to us. But part of the problem with this issue is that numbers followed by 12 zeroes aren't very relatable to the average American. Instead, try this on for size.
A million seconds is 12 days. A billion seconds is 32 years. A trillion seconds is 32,000 years. And 53 trillion seconds? 1.7 million years.
In an article that will appear in an upcoming issue of my magazine, Fusion, former Comptroller General of the United States David Walker tries a different tactic. He writes that our unfunded promises translate into "an IOU of around $455,000 per American household."
Wow. Does the size of our debt hit home now?
The America that I know doesn't sit around waiting for someone to rescue it from disaster. Besides, who do we expect to swoop in and save the day? Congress? The president? Please -- they're not only the ones who put the asteroid into space, they've also been making it bigger with irresponsible spending on everything from prescription drugs to billions in rebate checks and bailouts.
Bruce Willis and Tommy Lee Jones? They're more likely to be on Social Security than to save it.
And that leaves only us: We the People. Like every other crisis we face, it's up to us to save ourselves.
But how?
Be honest, no matter what side of the political aisle you're on, it's obvious that our financial deficit is dwarfed only by the deficit of trust we have in our leaders.
I'm willing to do the right thing for our future, I'm willing to sacrifice, but not when I believe that our leaders will do nothing but make the asteroid even larger.
----------------------------------------------
None of us want to see our taxes go up, especially with our budgets being squeezed by inflation. But as I have said before, there is a crash coming, and drastic action must be taking to save our country and our economy. My guess is that rather coming from the top (our so-called "leaders") it may actually come from the bottom by way of some kinds of grass roots revolution. That is if we can get our minds away from Britney Spears, NASCAR and March Madness and focus on what is really important.
So Sayeth The Shack