Does not surprise me that folks cannot answer these simple questions. We are a nation that is largely full of financial illiterates and it shows. Try to explain to someone that you can make your phone bill drastically lower but there is an upfront outlay of a little over a hundred bucks and their mind stops right at that point. The idea of a small sacrifice now for long term savings is unknown to them, I have seen it in my own family I am ashamed to say.
I have one question that I would like some input on. Obamacare premiums must be paid or you face the IRS or whoever, read recently that 70% of people have less then a thousand bucks in the bank, they are living check to check, now comes higher premiums and much higher deductibles with Obamacare, with the amount of cushion folks have they cannot absorb any unexpected expense, what will they have to give up? You do not have to pay your mortgage by law, so I expect many people to walk away from their house payments, they really have no choice. What will this do to the value of homes? What will this do to rents? I figure what is coming as Obamacare is fully implemented and the subsidies are cut, is a glut of houses on the market and sky high rents. The way I see it this is going to make the Great Depression look like a cakewalk. Most people could feed themselves by gardening and raising a pig or two or hunting. Not now, not in this world of fast food and no knowledge of how to live off the land and with the government regulating everything right down to rainwater collection and gardens, it is not possible. If I am reading the tea leaves correctly, I see nothing but the hardest times we as a nation have ever faced, with the exception of the first settlers in America. If I am wrong, let me know the flaw in my thinking. I would appreciate it.
I can’t disagree with your reasoning.
To depress you even further, read my post #69. Even the people that make the laws don’t understand simple percentages.