Are you guys hunkering down money wise?

[Dargo]

I'm not sure if it's that my list of things to do is big enough that I don't need or want anything else right now, or that I'm holding tight on cash because I think things are going to get allot worse with the decisions being made by the government.

Eddie

That is the truth. I've promised my employees that I would not lay anyone off at least in the first six months of this year even though my industry has really fallen. Right now I'm just taking it on the chin and keeping them on and paying them. However, if the government keeps on blowing money like crazy and raises my taxes, several will have to be let go mid year. If my costs go up, via increased taxes, I can no longer afford to keep good people on who aren't making me more than I'm paying them. By mid year 2009 it will be right at a full year that I've held on to employees because I feel it's the right thing to do even though I'm losing money with them.

It's unfortunate, but the government give away programs are going to hurt hundreds of thousands of people like my employees who are middle class tax paying citizens by putting them out of work. They don't want to, but if I have to lay them off, they too will go on the government payroll and cause things to spiral down even more. I'm almost embarrassed to say that I'll be okay, but many people who have worked for me over ten years may be in trouble due to the government's actions.

 

[2manyrocks]

Write your congressman and explain where in your opinion the economic policy is are going wrong. Keep a copy. If things continue to mess up as you predicted, send a follow up letter reminding him of what you told him, and then try again to get him pointed in the right direction.

My congressman is going to get another one from me next week because I specifically told him it was foolish to pass the TARP legislation giving the Treasury total discretion how they spent the funds with no restrictions, and now the public is just starting to see to whom the $ actually went.

I might even publish a few of them in the local paper come next election and publish how he voted.

 

[EddieWalker]

I'm gonna try to say this without getting the thread closed or having it deleted. LOL

An email was going around that told of a business owner who had to lay off several employees due to the slow down in business. He decided to take a walk through the parking lot of his business and noted who's car had bumper stickers for a certain politician who he feels is causing these changes and making it so much worse. He then let those employees go.

Eddie

 

[riptides]

I'm gonna try to say this without getting the thread closed or having it deleted. LOL

An email was going around that told of a business owner who had to lay off several employees due to the slow down in business. He decided to take a walk through the parking lot of his business and noted who's car had bumper stickers for a certain politician who he feels is causing these changes and making it so much worse. He then let those employees go.

Eddie

Wow. I'd rather hire and let go of people based on their ability to produce product or their work ethic.

In these hard times you will find out who you want to work for when things get better.

 

[300UGUY]

That is the truth. I've promised my employees that I would not lay anyone off at least in the first six months of this year even though my industry has really fallen. Right now I'm just taking it on the chin and keeping them on and paying them. However, if the government keeps on blowing money like crazy and raises my taxes, several will have to be let go mid year. If my costs go up, via increased taxes, I can no longer afford to keep good people on who aren't making me more than I'm paying them. By mid year 2009 it will be right at a full year that I've held on to employees because I feel it's the right thing to do even though I'm losing money with them.

It's unfortunate, but the government give away programs are going to hurt hundreds of thousands of people like my employees who are middle class tax paying citizens by putting them out of work. They don't want to, but if I have to lay them off, they too will go on the government payroll and cause things to spiral down even more. I'm almost embarrassed to say that I'll be okay, but many people who have worked for me over ten years may be in trouble due to the government's actions.

I commend you on your sense of social responsibility. But what federal taxes have gone up? We run a business here, it's down, but I haven't seen any increase in taxes. Maybe some are on the way, but nothing yet. I haven't had to pay one penny more. God Bless!

 

[300UGUY]

Wow. I'd rather hire and let go of people based on their ability to produce product or their work ethic.

In these hard times you will find out who you want to work for when things get better.

I think if you fired people on the basis of bumper stickers, you would find yourself in court very quickly. And out of business, too. I wouldn't patronize a business like that even if I agreed with the owner's ploitics.

 

[Patriotic Stabilist]

I'm new here but one of the older folks. One of the guys on another forum, he's known as Oldtimer there told me about this forum, its called Moneyand More.lefora.com. He said I might be interested in some of the topics here.

We are from Indiana, wow, almost 30 years ago now. We have lived in Texas since the early 80's, but I still own a little 25 acre farm up there, that a farmer takes care of for me. Here our house is on about 2 acres in the country. But having grown up in Indiana with depression era parents at least mine were, you learn about thrift.

My husband and I always saved a bit, paid cash, and lived within our means. We never got into the stock market, just the safest in his 401K and CD's or bonds for the most part. We only lost a small amount in a 401K he had long ago that was small, a few thousand dollars.

He has worked overseas since 2001 after his division was closed down so we have been fine. The last couple of years we have been saving 50%, but not much return on anything. We also have a few rentals, sold a couple before the bust, and now bought one I'm working on now.

I like Obama, we voted for him, but I think they are really grasping at straws trying to fix this mess and worry they can't. What I fear is horrible inflation from all the spending and borrowing, do I have better ideas? No, I sure dont. I know there are people hurting. Here we had tons of illegals all over working, what I have noted is that many have disappeared and now Americans are getting a chance at jobs, to me that is a good thing.
Housebuilding has really slowed down but we still have commercial building going on here, at least for now.

We personally are doing fine, but I can tell in the restuarants and things not as much activity during the week. But this is a pretty affluent area and people here are still spending. We have always been careful, we know there will be booms and busts and have always been very careful so none have really effected us.

I also fear that all this will effect social security and medicare and that will effect us in retirement, but I'm hoping for the best.

I hope all of you are doing well.

 

[dmccarty]

I received an email from a wood stove company that said that stimulous package has tax credits for new wood stoves. The stoves have to meet EPA standards. You get 30% of the cost of the stove back on your taxes.

Later,
Dan

 

[LMTC]

I received an email from a wood stove company that said that stimulous package has tax credits for new wood stoves. The stoves have to meet EPA standards. You get 30% of the cost of the stove back on your taxes.

Later,
Dan

I'd buy a new stove like that and then end up in a "No Burn" zone because those in charge can't tell an approved stove from any other when they do their drive-by.

The horrendous truth is that way too much of what is done in an attempt to "control" free market influences ends up having dramatic unintended consequences. The horrendous loss of life in the 30s, 40s, 50s and 60s from famine (see how well central planning works?) in the Soviet Union and China stands as testimony to unintended consequences (though one could argue that the starvation in the Ukraine was intended by Stalin).

I used to specialize in unintended consequences (think Risk Management). I would review policy changes and then advise what would/could happen BEYOND what was intended, or review situations where there was an acknowledged problem and make recommendations for policy/procedure changes. I could find reasonably possible unintended consequences in 100% of everything ever submitted to me for review, and probably significantly undesirable and reasonably possible UI in around 75%. My experience taught me that most administrators/bureaucrats/legislators/etc. do not even understand UI, and few are willing to consider them when they are given the information. Thus we end up with band-aid responses on top of previous band-aid responses. Sometimes the best thing is to leave the wound exposed to air and let nature take it's course.

 

[dmccarty]

I'd buy a new stove like that and then end up in a "No Burn" zone because those in charge can't tell an approved stove from any other when they do their drive-by.
...

I thought of the TBNers out in CA with the burn bans when I wrote about the tax credit. Give with one hand and take with the other.....

Hmm, well, since its a tax credit it might be take with hand, pass to another, and then take it away.

Unintended consequences. Hmmm. If I go down that road the thread will get closed or my post deleted.

Later,
Dan