The Holiday season has ended. Now it’s time to pay the bills. Once again, people opened their hearts and their wallets and now it’s time to pay up. We live in an age of greed where people are over spending unlike anytime before. It is not how much money you have, or what your salary is, it’s what your credit rating is.
Credit was originally used to bail out people who lost their jobs to by the essentials like food, water, and pay the rent. Its purpose was expanded to help pay for big-ticket items such as homes and cars. Now people using credit to fulfill their every whim and desire. People are using credit to buy everything from cell phones, big screen TV’s, vacations, and high-priced furniture.
The American dream of prosperity is no longer earned by hard work. It is now attained only by shear luck of winning the lottery. People have become enslaved by greed and allowed themselves to be buried by debt. More and more people believe that they can live like their favourite celebrities that they read about in the tabloids. This is a lie; consumers must start acting more responsible, and refuse to buy things they cannot afford.
This is the myth behind the philosophy of tax-cutting politicians. They keep telling people that they should maintain these dangerous habits because they are giving them more of their taxes back. The reality is that these tax cuts will never be enough because people will continue to want more toys. Some even go as far as saying they will maintain spending problems and pass the debt on to future generations. The Steven Harper’s of the world should seize focusing solely on government fiscal accountability. What about the fiscal accountability of the citizens?
We have credited a society of borrowers and a few lenders. I believe this directly responsible for the increasing income gaps because only a few people are profiting off exuberant interest charges. The rich are getting richer off the poor.