In response to:

Incomes Drop Most in 20 Years

pwregan Wrote: Mar 01, 2013 11:39 PM
Hey you jealous lasy slob...there's a reason the 9th Commandment says "thou shalt not covet those things that are thy neighbors". And while I'm at it, even God only asked for 10%, not 60% like California! Where exactly in the Constitution does it say that if I have more than you, that you are allowed to come and take from me so you have as much as I do? The only difference between a burglar and the Government is that I can't shoot the government when they take from me without my permission. And if I refuse to give it to them, I am the one that goes to jail.

In January of this year incomes dropped the most they have in 20 years. Let me just allow that to sink in. With the payroll tax cuts expiring January 1st, it is no surprise that people’s incomes fell and were spending and saving differently. Consumer spending rose in January, which seems to indicate that with these tax increases, households were forced to spend more of their income and save less.

Incomes fell by 3. 6 percent in January! This then sent the savings rate down to the lowest it’s been since November of 2007. What Americans now face is trying...