Bloomberg To Announce Bare-Bones, Doomsday Budget
After reading the above article, something dawned on me....all this time I kept saying to myself "what do I pay taxes for?", (Especially when unemployment denied my claim).
I never thought that with the millions of jobs lost, that is billions of tax revenue lost. With unemployment at a record high, I can't imagine what that does to government spending and the security of government jobs.
It's all a trickle down effect. The local store can't keep up shop, you see him go out of business. What you don't see is the management company going under b/c they can't rent his space, or the bank taking the hit b/c he couldn't make the mortgage.
You see the local bakery go under, not the hurting farmer that can't sell his product to the baker anymore. so on and so on.
My dad once said to me that he had just bought tons of ground beef. I asked why so much ground beef, isn't that bad for you? "yeah Elnora, but it's cheap and I can't make so many things out of it, cheap gets me through these days".
Now when I go to the store, it's nothing but shopping for deals, penny pinching, buying nothing but the store brand. I realize this is how it was when I was younger, this is how it is now. But now there is more to understand, and it makes me humble.