Vinnie:

You wrote: "BTW, I took precaution and have 1 year's worth of mortgage
payments in the bank,
in case this ever happens. So to answer your question, I would have 1 year
before I would be in trouble. "

NO my friend, you are in trouble now! In one year, "YOU ARE DOOMED!!!"

Warmest regards,
John

"Vinnie S." wrote in message
...
| On Mon, 2 May 2005 11:17:14 -0500, "Kevin, WB5RUE"
wrote:
|
| "Vinnie S." wrote in message
| .. .
| On Tue, 26 Apr 2005 13:19:22 -0500, "Kevin, WB5RUE"

| wrote:
|
|
| $10/hour is MUCH better than 0$/hour!
|
| Kevin, WB5RUE
|
|
| Not if you purchased a home, car, and pay property taxes based on your
| ability
| to earn $25.
|
| Vinnie S.
|
| It all comes down to priorities. You don't NEED a new car, 2500sqft
house,
| health club membership, Platinum MasterCard w/$10k balance....
|
| Nonsense. I have a 1300 Sq foot house, 1900 if you count the finished
basement.
| I paid $225,000. I have a car I bought new for $17,500. I put $9,000 down.
I
| have about $400 outstanding credit card bills. No kids. I do not have any
| re-occcuring bills like a health club. If I lose my job and make $10 per
hour, I
| am losing everything listed above.
|
|
| If you pay cash for everything and save what you don't spend then a job
loss
| or salary reduction isn't so devastating.
|
| So what you are telling me, is that if your family took a 60% pay cut, you
would
| be OK? I don't think so.
|
| Yes I know the "American way" is
| to spend more than you make and then, hopefully, be able to make the
| payments between spending sprees.
|
| There is alot of people like me, whose only bills are a mortgage and a car
| payment, aside from the utilities/etc. If you cut their pay by 60%, their
all in
| trouble.
|
|
| BTW, I took precaution and have 1 year's worth of mortgage payments in the
bank,
| in case this ever happens. So to answer your question, I would have 1 year
| before I would be in trouble.
|
| Vinnie S.