My debts have increased a large amount. Should I ask my boss to reduce my income?

Question

Isn't that what Bush has done by reducing taxes of the rich?

Answer 1

Obviously the answer is to call your friends in China and Japan, and have them lend you some more money. Just keep stringing your debt along until you die... let your kids worry about it. Remember, as long as your checking account says you have money, you're doing fine.

"I have long argued that paying down the national debt is beneficial for the economy: It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes."
-- Alan Greenspan, a guy who knew a little bit about Economics

Sidenote: Bill Clinton's administration created 22.5 million jobs in just under eight years

Answer 2

I so know what you mean. No one plans on becomming disabled. The same thing happened to me and I didn't have disability insurance. I would check my mortage contract to see if any insurance policy is part of the contract. Some contracts do have a disability insurance rider. That would be the biggest help. Also if you just happened to sign up for disability insurance on any of your credit cards that would be a big help too. Baring that there are the following possibilities: Your church may have funds available to assist you. Mine does and it is a blessing believe me. Some power companies have funds set asside to help people pay their power bills and bill averaging plans that can help too. Social Services can help with money for food and health care under some circumstances. Many Churches and Charity organizations have food banks that can help you will food needs also. They also have some assistance as it pertains to power bills. The best you can do with the credit card companies if you don't want to file for bankruptcy is to make a payment plan with automatic withdrawals from your bank account. The other option is to sell the house and get something smaller but if the fair market value of your house is only 85,000 then you probably won't find anyplace at a lesser cost. And right now is not the time to try and sell unless you absolutely have to. I'm sorry you are in the situation you are in. I know if it weren't for the church I'd be looking at homelessness myself.

Answer 3

First of all let's set the record straight about me. I am not rich (at least financially).

Now on to your question.

President Bush has reduced taxes across the board, and in many cases the poorer pay less or nothing and also get a payment from the government for being at the poverty level.

The more money you make the more you pay in taxes. The reduction seems high for the wealthy because although they have the largest cut according to their income, they still pay the most per capita compared to the rest of the population. No matter how high or low their tax bracket they will always be perceived as the beneficiaries of an unbalanced tax structure. Nothing can be further from the truth.

These are the same people that take enormous risks starting new companies and hiring people who count on them for a stable and long term carrier. They invest in the stock market, they pay their bills on time, and they contribute massive amounts of money to charitable causes. It's essential in our society that people or corporations are able to retain dollars in order to recapitilize their companies whether it is for technology improvements or meeting the demands of union health care provisions, and retirement.

Now you have the trickle down effect coming into play. If a company pays their employees more, provides them with more benefits, and ensures their retirement security by paying into a 401K or some similiar retirement instrument, the company is in effect providing their employees with additional discretionary spending capabilities. If you own a hardware store that means that joe blow might just go ahead and by that new lawn mower he wants and needs. Thank god he can afford that mower, you need to make a profit off of him.

These are the same people that buy goods and services with disposable income and invest in new infrastructure in our country. Without intelligent people who are driven to succeed in our capitalist economy we would be screwed.

Answer 4

I'm sorry, that makes NO sense at all. Don't blame the president because you don't know how to manage your money. Reducing your income SURE won't help matters. You need to go to a debt conselor and learn how to pay your bills and live within your means.

Answer 5

If you will look at the facts the revenues have actually increased. The upper 1% of wage earners already pay over 50% of all taxes. How much do you want them to pay? Do you know they are the job creators? That is why we have added 6.6 million jobs since 2003.

Answer 6

Uh, how is reducing taxes reducing anyone's income?

Answer 7

No, ask him for a lesson in economics 101.

Or better yet, ask him to make sure Democrats raise taxes so that the people who own your company don't have money to invest, and your business suffers, and you lose your job.

Have a nice life on skid row.

Answer 8

brilliant Reaganomics ........ Bushitnomic ............. everytime they start a war ......... they fund it by cutting taxes

http://zfacts.com/p/331.html


this war is being waged on behalf of the big oil companies and the weapons manufacturer ....... shouldn't they pay more taxes when they are the one getting rich from the misery of others

Answer 9

yes then you won't have as much to not pay your bills & can get GOVT. AID.

Answer 10

hahaha... it makes perfect sense... right?

I'm sure a Republican will come on here talking about how you don't understand the "economy"... but I'm sure Rush, where they get their info, understands it great... right? hahahaha