Hello again and thanks for checking back in with me. There is one other comment I want to make about the debate, then I'll let it go. A woman asked about tax cuts; specifically about credits and deductible items such as learning credits that Romney plans to eliminate. Romney stated that she would still come out ahead even though she had children in college because he is planning to eliminate capital gains taxes. Ok, he had just finished commenting on the terrible state of the economy and the horrifically high unemployment rate: does he honestly believe that people who are depleting their savings accounts are concerned about capital gains taxes. They have no capital gain. People are concerned about feeding the kids and paying the rent. There is no more disposable income. There is no money left to invest once the bills have been paid. Savings accounts are shrinking even as I write. People are living in the present. What got them to this point?
In fairness to both Obama and Romney, neither is as fault for the sad state in which people find themselves.Who then is to blame? The last time this country had a balanced budget and was debt free was under Andrew Jackson, sometime around 1836. Obama did this, Bush did that, and Clinton did everything...or should I say everyone? I am not financially intelligent enough to describe why the stock market took a dive, but it did and people lost a lot of money and a lot of jobs. I am one of the lucky ones; I have a job and health benefits. However, I had dug myself into a financial hole by living well beyond my means on credit. A great number of others did the same on a much larger scale. They bought homes they could not afford and had 2 SUVs in the driveway. I live in the Phoenix area and have seen new neighborhoods pop up, alive with activity and kids riding bikes in the street. Those same neighborhoods are now virtual ghost towns. I am truly sorry for those people as they may not be as fortunate as I. However, in some cases---not all so don't get offended---the circumstances in which they now find themselves are a result of the choices they previously made. Those people, through their own fault or just plain bad luck have no concern at the present time as to whether or not their savings accounts will be face tax implications. Their savings accounts are on their kids feet or in their lenders hands.
As I said, I am fortunate to have a job. I am also fortunate in my wisdom; that is to say I am wise enough to be a renter with a 16 year old truck that does not belong to the bank. I once had the responsibility of being a home owner.....never again. Maybe I'll talk about that next time.
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