We have an economy where many consumers don’t want to spend. Today on the way back from lunch I ran into and spoke with a friend who works at one of the major shipping companies in the US and he tells me volume is way way down. Things are just not being shipped he complained.
After that conversation I saw a big banner on the corner saying there is a sale on live lobster at a seafood store. I think it was $5.89/lb. Are you kidding me? A sale on lobster. I have been waiting for one of these my whole life .
This is like me going to a store and seeing a buy one iPhone get one Storm free sign. Or better yet, seeing a buy one Chevy, get one Porsche free sign.
President Elect Obama — the rich think you are going to raise taxes and maybe you are and maybe you aren’t… I have heard both recently.
Please get on TV and tell the nation you won’t raise taxes on anyone. You see, when people feel like taxes will go up, they get unsure and try to save to offset the loss of income. Lifestyles it seems, adjusts to income — regardless of the amount.
Now more than ever, we need the wealthy to spend their money. You can’t tax people into buying cars, going to restaurants or sending gifts to one another.
People spend when they feel certain about their future income stream. Right now between the stock market and your rhetoric on taxes, consumers are pulling back — and severely.
Guess what the result is? The middle class are losing their jobs. How will they be getting those tax refunds when they have almost no income? You ran on the idea of helping, not hurting these people but your words are helping them to get laid off.
Time to cancel any talk of tax hikes and tell us you won’t raise taxes on anyone. Then we have to hope the people who actually have money and don’t rely on credit to purchase will go out and spend some of this cash to get the economy up to speed.