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July 10, 2008

$4 Gasoline, Rising Interest Rates & A Tanking Economy

I'm back with a vengeance my friends.

I had my wonderful sojourn in the Grand Canyon and learned a great deal about nature and my autistic 12-year-old.

Upon my return, I was hit with a massive dose of reality. Our refinance still wasn't approved after more than 30 days, despite excellent credit and a great deal of equity, the stock market was tanking and my self-employed husband had less work than ever.

I don't know how normal people survive these days, so you can imagine how much hair I've pulled out trying to crunch the special needs numbers for the coming months:
  • $300 per month for medications
  • $525 per 12-week social skills training session
  • $6,000 per year for private Montessori school (my son could not function in public school)

The list goes on and on and doesn't include any of the normal family items, such as food, utilities, mortgages, insurance, soccer fees and school field trips.

In short, we have less money coming in, despite my annual raises, more and more money going out for rising costs and no end in site.

I don't know about the rest of you, but this is the first time in my life that I have taken a very serious look at an upcoming presidential election. I haven't decided how I'm going to vote, but I have no choice, but to vote against higher taxes and simplified filing for the middle class.

I'm not taking about taxes on short-term investors, who flip stocks and real estate for a quick profit. I'm talking about long-term capitals gains from wise investments that middle class Americans, like us, have established to care for our special needs children and provide for our retirements.

HELLO CANDIDATES: The bulk of my investments are not in 401K or other tax exempt retirement plans. There in solid stocks, bonds and CDs that are accessible in case of emergencies, are not subject to huge fees from fund managers and are properly diversified so that I won't lose my shirt, if the matching company's stock suddenly becomes worthless.

I/we should not be punished for selling a long-term stock at a significant gain or earning a hefty dividend on a wise long-term investment.

And don't even get me started on the domino effect to the already tanking economy and real estate market, if the government raises investment taxes or cuts itemized deductions for insurance, medical expenses and small businesses. I need those deductions to pay my bills.

If you agree with me, vote yes on my current poll.

If you don't agree, don't worry, I'm getting off my political soap box. I really haven't got time for it and it only causes more frustration in my life as the parent of two special needs children.

Until next time,

Nianya

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