Blog Entry

Lingerie ain't cheap, silk is getting expensive!!

Posted on: October 18, 2008 1:29 pm
 

Hi there.  I am Cyndi (real name - Americanized though).  I thought I would go through my budget with you.  To share my thoughts on my needs and wants, and to decide where do I cut to prepare for the coming economic doom.  To start, I do not make more than $250k per year, so I am looking forward to that tax cut BHO, and I am going to hold you to your promise. 

Where do I start?

My mortgage is $2343 on a thirty year fixed at 6.125 including taxes and insurance into a monthly escrow.  I suppose I could refinance to a lower payment to conserve funds.  I do have two roommates who throw in $500 each. Perhaps I could sell it, but then there would be a nasty loss in value.

Cellphone bill - $149.77 including all applicable taxes.  Hey, I 'm young and single and need all that texting to commune with my comrades.  But do I NEED it?

Utility bills are running an average of $327 in gas and electric w/includes applicable taxes, thanks Duke!  Could turn the thermostat in the proper direction except I already keep it cold in the winter and warm in the summer.

DirecTV costs me $169 a month including taxes.  Gotta have my sports channels right?

Starbucks is about $140 a month including taxes.  A girl's gotta have her coffee or else I might get bitchy, right?

I have an Audi TT but it's paid for but I could ride the bus except I work out of my house most of the time now because I live on the road but the company picks up that tab. So no real opportunites there.  Oh wait, I could get a tire gauge.

I give $233 per month to United Way because my company stresses how much I should give.  I guess I could keep that.

I give $1250 to a scholarship foundation I set up each month.  Since education is free in a socialist republic, I should be able to stopt those costs too.

The gym membership and my personal trainer.  That costs me $219 per month combined.  I guess I don't need to spend that kind of cash to look and feel my best.  What the heck, Im gonna have free health care to fix me up if I fall apart, so why take care of myself?  The government is signing up for that one.

Shoes - hmm.  Probably $200 a month average.  Silk things and other fine garments (my uniform) $400 a month including dry cleaning.

I suppose $750 a month in groceries is exhorbitant for a single lady.  But I do like to cook for my friends and my roomies.  I guess I can stop eating fresh fruits and veggies and move over to the preprocessed variety. 

Looks like I have some real opportunity to be more patriotic here and pay up my fair share in taxes.  Last year I paid $33,459 in federal taxes even with my foundation.  All I have to do is cut out my cell phone, my lattes, my directv, healthclub, my golf, vacations, going to the movies, cut back on my food bill, and I should be ready for my patriotic tax increase, uhhh I mean tax cut.  Notice I am keeping shoes and silk in the budget otherwise morale could sink to an all time low around my house.

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The point is folks I do have a means to cut and I will get by.  I know many of you will struggle to make the ends meet. And you will slash your expenses in the process.  But the problem is, if we all cut back we will further strangle the economy.  If we all drop our cable or sattelite, a bunch of big companies will take it on the chin and will likely layoff their workforce.  If we cut back on lattes or frapaccinos then Starbucks and a bunch of coffee houses drain their pots and close up shop.  If we stop purchasing cars, electronics, ipods, etc...we only serve to deepen the recession.  Keeping up deficit spending on the other hand is not the answer.  Use cash to buy stuff.  Break the cycle of credit. Otherwise you are not helping the economy grow, you are only borrowing from your future.

You know there was a much lampooned President who said we should continue on with life and keep shopping after 9/11.  He was right.  But Obama has made that the punch line in campaign bumper sticker speech.  So now no one can utter it.  But it does not change the fact that we the consumer are the ones (not our government) who must spend our way out of a recession or else the entire economy - housing, autos, electronics, commercial, etc...- will fall on harder times than we see today.

Surely we must be responsible and only spend what we must (You, Me and the Government).  We should ask if we REALLY need that thing we have in our hands (or in our barrel.)  If the answer is no then don't buy it.  I am talking to you, politicians!

The question is....Do we vote in Obama who wants to spend $1 trillion AND raise taxes (and let's not kid ourselves, shall we, $250k is not the threshold is it BHO?)  Or do we vote for McCain who proposes a spending freeze and lowering all taxes? 

Both candidates say they will sift through the budget and look for waste.  IS that possible?  I wonder.  When my division's budget came across my desk this past week for next year, my pen made contact with the paper and crossed out many things we do not need to do, heck, it would be irresponsible to our customers, employees and shareholders if we did not.  Hey politicians, why don't you give it a try, it might make you feel like a leader instead of pretending.

Just my ramblings....I am out of the country next week so don't be sad, I will post again when I return.  Our European division is credit and cash strapped thanks to the economic turmoil.  The Europeans are looking for difficult cuts to help them get by.  Otherwise we may face job cuts across the globe in our company to remain afloat.  By the way, this is precisely the reason the government bailouts of the banks are happening folks.  Without it, corporate debt, a necessary evil to fend off takeover bids, cannot be refinanced which will force companies to tap into cash reserves to make payroll and other commitments.  IF you are not scared it is because you just don't understand, but you will be effected.  Count on it.

Do you think we can get BHO to add shoes and lingerie to the tax deductible list?  I will vote for him if he does.

 

Comments

Since: Sep 4, 2006
Posted on: October 22, 2008 8:49 am
 

Lingerie ain't cheap, silk is getting expensive!!

PETA?  Is that People Eating Tasty Animals or what?Well, that's the PETA that I'm a member of. . .



Since: Mar 20, 2008
Posted on: October 22, 2008 8:20 am
 

Lingerie ain't cheap, silk is getting expensive!!

PETA?  Is that People Eating Tasty Animals or what?  Just kidding folks....lighten up.

Read yesterday's Wall Street Journal.  For you Obama-ites, you might want to check out the last three written pages of Section A.  Have some great articles talking about taxation under BHO that might edumacationize yourselfs and the potential impact written by professors of Economics at various think tanks and Univs.




Since: Sep 4, 2006
Posted on: October 21, 2008 2:56 pm
 

Lingerie ain't cheap, silk is getting expensive!!

Why are we talking about taxation when we could be spending valuable time discussing Smorgie's evening attire?!?!  One subject is terribly depressing, while the other is sure to lead to an arousing and stimulating discourse. 

My opinion:  go with the stunning little black number with heels, you can always add a fur (both for warmth and to pi$$ off the PETA people). 




Since: Mar 20, 2008
Posted on: October 21, 2008 1:51 pm
 

Lingerie ain't cheap, silk is getting expensive!!

All that crazy flat tax nonsense actually addresses the windfall profit tax proposed by the Socialists Democrats, and all that raise and lower taxes garbage proposed by the Socialists Democrats and Republicans.  I could cut how many govmint jobs if we went to a flat tax (think IRS employment - ALL OF THEM).  What is that worth a year?  85,000 times an average salary of ....oh, I don't know.....$65,000 with benefits equals $5.5 billion annually.  That sounds like a good cut to me.

Time to go out for a late dinner with the boys.  Shall I wear a dress this evening?  It is a little chilly tonight. 

Good night my political friends.

Merci.




Since: Dec 31, 2007
Posted on: October 21, 2008 1:01 pm
 

Lingerie ain't cheap, silk is getting expensive!!

Well considering I went from a LTR to single over the last week I suppose that would be the next step.

Getting a place I shall call my own or george......which ever comes first.




Since: Sep 4, 2006
Posted on: October 21, 2008 12:26 pm
 

Lingerie ain't cheap, silk is getting expensive!!

Smorgie and J.D.,

All this tax code talk makes me long for Jack Kemp and his "crazy" flat-tax talk :)




Since: Oct 19, 2007
Posted on: October 21, 2008 11:38 am
 

Lingerie ain't cheap, silk is getting expensive!!

Smorgie,

You fill out schedule A to see what you may be able to deduct, and then must complete the AMT form that means tests you and takes away a lot if not most of the deductions on your schedule A, effectively putting you in a higher bracket and keeping the tax accountants employed.  Not too many venture to do their own taxes when the AMT is invoived.  In the tax world, the left hand taketh away what the right hand giveth. 

It is insane to offer up the deductions in one scedule and take them away in another.  The AMT (alternative minimum tax) has become a policital football impacting more and more people without extraordinary incomes as except for one time limit adjustments, has not ever been indexed for inflation.  I feel your pain Smorgie.  Perhaps we are becoming the USSR. 

 




Since: Mar 20, 2008
Posted on: October 21, 2008 11:02 am
 

Lingerie ain't cheap, silk is getting expensive!!

An afternoon in Paris....and I am ...... working.  Drat.

Maxed Schedule A  is referenced to the IRS' 1040 Schedule A form for itemizing your deductions.  You get to deduct your state and local taxes, your property taxes, your mortgage interest, mortgage points (when you buy down a rate), and your charitable contributions on this form.  The catch is... you are limited to what you can deduct. 

I max out my 401k to make sure I get all of those tax advantages. My social security gets maxed out each year.

You know Nathan, if you are paying $835 / month you should look into a house payment of  $1100 - they are the same thing with all the tax advantages.  Then you would be helping the economy!!




Since: Jan 1, 2007
Posted on: October 21, 2008 3:03 am
 

Lingerie ain't cheap, silk is getting expensive!!

Great budget breakdown, although now is not a good time to re-fi your mortgage with home prices falling the way they are. HMMM, wonder what magic wand BHO thinks he has in mind for that one. I do have to say that the shoe budget seems a little on the low end, that is about comparable to what my wife spends and that is only because I have to draw the line somewhere.

Let's be homest with ourselves here, with all of Obama's proposed social programs there is no way we will NOT see across the board tax increases. He will probaly do like Willy-Jeff did in 93, get in front of the cameras and tell us how hard he tried to find a way not to raise taxes, but he just can't.

As far as Halloween costumes, the naughty librarian is always good or the night shift nurse. Hope you had a productive trip.




Since: Sep 4, 2006
Posted on: October 20, 2008 3:48 pm
 

Lingerie ain't cheap, silk is getting expensive!!

Buying high-quality, stylish footwear not only makes perfect economic sense, its a matter of public safety.  From Wiki - "High heels are stated to have been invented in the 1500s as a response to the problem of the rider's foot slipping while riding."  Kudos to the forward-thinking chap who invented the high heel shoe.  He has no doubt curtailed numerous painful injuries (to both rider and ridee alike). . .

 

 



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