Posted on 10/14/2009 2:31:17 PM PDT by blam
Another Great Depression Low, Beware Getting Your Salary Slashed
By Rocky Vega
10/14/09 Stockholm, Sweden – According to the New York Times, “now pay cuts, sometimes the result of downgrades in rank or shortened workweeks, are occurring more frequently than at any time since the Great Depression.”
What does this mean for you? Well, for Bryan Lawlor it has meant taking a 50 percent pay cut, down to $34,000 per year. The government holds up our weak “recovery” statistics and when it comes to the tragic realities facing the average American it’s just the same refrain… deny, deny, and deny some more.
It’s not just the money, the pay cuts are also contributing to strained relationships. Lawlor feels that he’s less of a man while his wife disputes that she considered trading him in for another husband. All the while they hide the painful reality from their children and are terrified of Christmas, and the near-certain promise of gift shortcomings.
[snip]
Been there, done that. How’s Obamanomics working out there for ya?
My quarterly bonus is 15% of my pay. It has always been there since I was hired on. The company changed the way it is calculated effective this quarter. It is looking like we will get no bonus this time. Not even a “Jelly of the month club” membership.
It is, in effect, a 15% pay cut.
Good news is that I cut my living expenses by almost 30% in the last four months. I anticipated it and am in full preparation for the next GD.
Lower pay means lower income taxes and lower tax revenue, and lower pay means lower spending. That means lower sales tax revenue.
Pain is going to increase for various levels of government.
The funny thing is this hurts liberals who spend like no tomorrow on credit cards than us conservative freepers who live within our means.
So, how’s that Hope and Change workin’ out for you.
Yes, but then they just raise taxes, because that is all they know how to do....
And one continues to make less and less - TAXABLE income.
That is what I am working toward.
Pain is going to increase for various levels of government.
With 2 paycuts since last fall, hubby is now working at 50% what he was a year ago. We are grateful he still has a job, but he’s been looking for another one for over a year, as we saw all this coming. What we are wondering is if business picks up where he works, what are the chances his salary will go back up to where it was? We highly doubt that will happen, now that they know he and others were willing to work for less.
Today they changed our insurance so that if you spouse works for a company that has insurance you MUST drop him or her from the company’s policy. There isn’t a doubt in my mind that if they ever passed a public option the company would drop us before Obama lifts his pen off the paper just so they could pass the cost on to someone else. We have more business than ever but they used the economy to deny any raises.
I’m basically killing time until I can start drawing 401k money out. I feel very bad about my children’s future, they are just starting out. I’m so sorry it turned out this way for them.
Not so for most other folk where I work.
This government is a malevolent parasite that feeds off our earnings. The more we make, the more they take. At this point, I'm perfectly willing to earn less and reduce my standard of living to help starve it. There is no other solution.
I just lost my six-figure IT job with little prospect of finding another in this market, and I'm ok with that. We're selling our house and going back to renting, after which we will have absolutely zero debt. Our soon-to-be-tiny income will provide virtually no blood for the .GOV to suck, and we'll be down to subsistence-level consumption.
Yeah, it will be a big adjustment, and it will be painful. But this government is a cancer upon our country, and nobody ever said chemotherapy was any fun.
The funny thing is this hurts liberals who spend like no tomorrow on credit cards than us conservative freepers who live within our means.
But that’s just a new excuse to go back and pile more regulations on the evil credit card companies. So it works for them.
Buy guns and ammunition. Buy storable food and emergency supplies. Be ready for TEOTWAWKI.
I just lost my six-figure IT job with little prospect of finding another in this market, and I’m ok with that. We’re selling our house and going back to renting, after which we will have absolutely zero debt. Our soon-to-be-tiny income will provide virtually no blood for the .GOV to suck, and we’ll be down to subsistence-level consumption.
Oh, if only we were all able to go Galt in this manner, they’d be waving the white flags within 48 hrs. I applaud you!
>>The funny thing is this hurts liberals who spend like no tomorrow on credit cards than us conservative freepers who live within our means.
But that’s just a new excuse to go back and pile more regulations on the evil credit card companies. So it works for them. <<
and those who use credit cards responsibly are the first to be screwed by those regulations as well....
Boy am I with you. I have become REAL aware of how to manipulate the tax system and are cutting my hours and doing odd jobs for cash. SCREW THEM. They want to tax the crap out of me to pay for dimocrats acorn types to steal elections and then pay for their constituants to vote for them? NO MORE. This is a defining moment and I will do everything within my power to make my tax bill as close to zero as possible. My government is targeing me because I am part of the group in Marx’s statement “From those according to their ability”. Well, sorry mugabe no more ability. Slow roll big time.
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Whenever I read stories like this I thank God I’m a federal government employee. I can retire now with a full inflation-indexed pension and government subsidized health insurance for life.
THIS government is a direct result of the LAST government. Just as it took a Jimmy Carter to bring forth a Ronald Reagan it took Republican runaway spending and a POTUS who couldn't say no to his own party to usher in the Pelosis, Reids and Obamas on a platform of, unbeleivable as it may seem, fiscal conservatism. You may have full-blown cancer now but the tumor started growing years ago. A pox on both their houses.
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