I personally know a number of people who are only spending on necessities, nothing discretionary, because they expect the economy to tank, and are worried about being able to pay bills going forward.
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That would be me and my husband. We are relatively comfortable retirees. Our son and DIL are both attorneys and their financial advisor advised them to not purchase a home because of the uncertainty surrounding another Trump administration.
Absolutely. We purchased a car shortly after the election. We cancelled a lifetime trip to Scotland. All purchases will be need only at this time.His Bat Shittery will cause another recession.
Sadly, not 'til next year if they can convince the fiscal hawks of their performance once the House CR expires on March 14th. That's what DOGE is about.
Find your after deductions number.
Doesn't include Corporate or Capital Gains rate changes.
Yes, definitely impacts household spending. It's going up still from the last Repug "tax reform," and going up again soon if they get their way, for any taxpayer making less than $360K/year.
Oh, and Project 2025 rate don't come in until then can con the fiscal hawks after the House CR expires on March 14th.
Look up you aft-deduction number here.
FWIW, $74k is the median individual income after basic deductions.
Doesn't include changes to Corporate or Capital Gains rates.
Nope, that's next year's pain. provided that the co-potuses can wink at the fiscal hawks when the House CR runs out on March 14th.
Does not include Corporate or Capital Gains rate changes.
We bought a new fridge, washer and dryer in late November in anticipation of the tariffs. Now we’re being prudent with our Social Security checks, because there’s a chance we won’t get regular checks in the future thanks to DOGE’s Musk Rats. 😡
My household is doing it by design. 2/3 of all US economic activity is consumer spending. Our $ is our most effective voice against this travesty. So we are war time rationing to do our part to hurt the market. That is the only thing Rs respond to.
Yes, definitely the only thing they will respond to is loss of revenue. Sustained boycotts are one of the very few resistance tactics that have consistently changed corporate and business practices for the better. It is just as critical to support the companies not bending the knee.
That can be a self fulfilling prophecy when a lot of people pull back on spending, it can cause a downturn in the economy or worse a recession. I get it, Trump is surrounded by chaos, you feel like you need to prepare for everything?
Comments
Find your after deductions number.
Doesn't include Corporate or Capital Gains rate changes.
Look up you aft-deduction number here.
FWIW, $74k is the median individual income after basic deductions.
Doesn't include changes to Corporate or Capital Gains rates.
Does not include Corporate or Capital Gains rate changes.
NADA in January....nothin'.
Doom preppers are pessimists
PREPARERS are realist
I'm sticking with that 😁
#prepping #prepky