I.R.S. Says Americans' Income Shrank for 2 Consecutive Years

You can remove your head from the sand (or some body oriface) anytime now.

Exsqueeze me? body "oriface"?

You have no idea of the tax revolt going on.

Accept the fact...

I accept nothing.

...sitting at the kitchen table...

I and a lot of people sit at kitchen tables and talk of many things.

"family of man" indeed. I don't think you know what is really coming...I will vote, for Bush, but that is only to stave off what would come at a faster pace. The controllers of the taxes make everything happen, or not happen.

If you wish to discuss this further, PM me. Just don't address me here on this forum insinuating I have my head up my ass. OK?

FMCDH(BITS)

Those tax cuts were to improve the economy and also ending the double taxation was to spur job growth. So those jobs must be out there somewhere.

Recently reported: over 80% of the jobs created since Bush has been in office were taken by non-citizens.

I am convinced that beating my brains out to learn the latest software skill is basically a very bad gamble. Why should I spend my time learning something that my Indian and Russian friends will happily do for less than $12 per hour. I think I will go back to school and get a law degree.

There are a lot of engineers that feel that way, apparently. What concerns me is how they will vote come November.

What's the rate of foreclosure on homes now? In this area there are many houses going into foreclosures for several reasons, many homes in the central neighborhoods have been sitting vacant for a number of years --- no renters or buyers living in them and they seem to be decaying very rapidly by sitting empty.

Thank you for making this point. I don't have #s in front of me, but Wall Street Journal has written about this several times and apparently foreclosure rates *are* up.

The typical pattern is this: couple buys a lot of house at a high price; so high that they both need to be working full-time professional jobs to make the mortgage payments. One loses their job & they take out a home equity loan. The other loses their job and they start getting behind in the payments. One or more gets new job at lower wage rate, and still have trouble making the payments. So eventually they foreclose.

Many of these houses were bought at the peak of the "dot boom," when everyone thought that the good times were going to keep rolling on forever, and when real estate prices had gone up exponentially (i.e. they bought high.)

With loss of 7 trillion in market capitalization when the Clinton buble burst, Billions in capital gains were not flowing to investors and into state and federal coffers.

Remember in 98' Amazon traded at $625 a share after multiple splits with a huge operating loss!

Capital gains will start flowing again.

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