Comments on: (Not) Keeping Up With Our Parents: Career Struggles

By: The Simple Dollar Weekly Roundup: Best Money Saving Tips Edition | Rich Dad Poor Dad Blog

Thu, 08 May 2008 11:51:09 +0000

[...] (Not) Keeping Up With Our Parents: Career Struggles I know that I often use my wife’s parents as a measuring stick for how we’re doing – and I feel frustrated when we’re not measuring up. (@ being frugal) [...]

By: Lynnae

Lynnae — Thu, 08 May 2008 06:10:15 +0000

@MITBeta – I do agree that the government should spend less than it earns. I think the government constantly being in debt is a very bad thing.

However, I think tax fairness based on a percentage of incomes is oversimplifying things. Warren Buffet probably pays millions in taxes, compared to the paltry $3000 we paid in federal taxes. Furthermore, Warren Buffet can afford to give people jobs to keep the economy going and keep people working, whereas I can’t.

It was an interesting article, and if Warren Buffet really believes he should pay more taxes, he should feel free to do so.

By: MITBeta @ Don't Feed The Alligators

MITBeta @ Don't Feed The Alligators — Thu, 08 May 2008 01:17:00 +0000

I think that too many Americans today rail against high taxes and the government rather than railing against tax fairness. There’s no reason, Lynnae, that your taxes should have to increase as long as Warren Buffet pays a significantly lower percentage of his income in taxes than his secretary. See http://freakonomics.blogs.nyti.....air-share/

I don’t believe for an instant that the government tries to manage people’s lives, and I further believe that we should expect the government to spend less than it earns, the same way we all have to, but our present administration has taken the previous administration’s Balanced Budget Act and torn it up and thrown it away. Until the last congressional election, the administration hadn’t met a spending bill it didn’t like.

I further submit that if you asked present taxpayers to actually foot the bill for the war, the war would be over in about 8 minutes.

By: The Simple Dollar » The Simple Dollar Weekly Roundup: Best Money Saving Tips Edition

Wed, 07 May 2008 14:01:58 +0000

By: pam munro

pam munro — Tue, 06 May 2008 17:51:33 +0000

Odd that you wouldn’t have thought of reversing the Swiffer cloth – what I learned from my mother to do is exactly THAT sort of thing. That’s how I turned into a bargain queen.

By: Frugal Mom LA

Frugal Mom LA — Tue, 06 May 2008 14:12:37 +0000

By: Frugal Mom LA

Frugal Mom LA — Tue, 06 May 2008 14:11:31 +0000

My parents were the original frugal King and Queen and because they were so frugal, they can afford to live well now but, interestingly, they don’t splurge or live ostentatiously. They rarely go out to eat (my mom’s a better cook then many restaurant chefs), they don’t spoil their grandchildren (well, maybe a little), they buy and wear clothes way longer than most people, they live in a small home albeit in a nice neighborhood, etc. They do drive nice cars but that’s about it. They are both Depression-era babies so that may have something to do with it, too! My mother actually reverses and uses the other side of the Swifter cloth–I’d never even thought of that! So, throughout their lives, they chose to live frugally (I was QUITE aware of that as I was growing up and all my friends seemed to have everything!). So, keeping up with my parents? I’d be glad to have their fortitude and discipline although there have been occasions where I’ve wished they rewarded themselves more often or splurged but their habits are so ingrained that it’s hard for them to do so.

By: plonkee

plonkee — Tue, 06 May 2008 12:12:24 +0000

Just because the examples given aren’t that great, doesn’t mean that the problem isn’t real. Which set of Americans hasn’t complained about the high cost of gas, or food, or real estate? Some of the basics really are more expensive than they used to be – these will affect the low-paid the most.

But, for most people reading the book, it’s probably not the increasing costs of basics that are hurting them the most.

By: Ron@TheWisdomJournal

Ron@TheWisdomJournal — Tue, 06 May 2008 02:30:51 +0000

Ya know, it’s not the “high cost of living” thats the problem it’s the “cost of living high” that snares most people.

By: Mrs. Micah

Mrs. Micah — Tue, 06 May 2008 02:22:40 +0000

I agree with you about her examples. Pastors have never been rich, as far as I know. My old one had a computer consulting business on the side so that he was flexible enough to do church stuff but because he needed more income.

Artists don’t ever seem to get rich and people looking for flexibility may have to sacrifice money. In the same way our parents sacrificed flexibility for money.

At the same time, some things like the minimum wage have increased very little compared to cost of living. It’s easier to see how people can’t make ends meet there. In theory, people outside highschool shouldn’t be having to work at minimum wage jobs, but our society is shaped so that they do.

I don’t really have an answer. But for her examples, I’d suggest looking into alternative income and perhaps reducing lifestyle expectations and instant gratiication.