A home selling for 240 thousand could line Uncle Sam’s pockets with tax dividends of around $14, 000. The tax is expected to reap close to 300 billion.  Hello.  There aren’t many homes aren’t selling these days.

If Obama is anything, he is an eloquent speaker. So how does this clunky, derisive sounding word “unearned” appear in the Obamacare legislation?  It feels like machismo manipulation. Whatever the motive, “unearned” carries a demoralizing connotation.

Already depressed, the housing industry has the potential to boost employment, and the economy.  Why cripple housing potential with disincentives like the “unearned” income legislation?

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More than this, the rental industry becomes valueless to landlords.  If landlords try to absorb the “unearned” income tax through the rental charges, who will be able to afford rent?  Is the work that goes into maintaining rental property really as undeserving of reward as the title of “unearned” conotates? 

As part of the Obamacare package, a huge life endeavor for seniors to stay self supporting in their old age is wasted.  Instead of reaping from the industrious and honest retirement planning, seniors may be turning to welfare, instead.  The income they planned on receiving is regarded as “unearned,” so that gives license to it away from them?

Why is the “unearned” income legislation worthless if not deleterious? 

                1.) Unearned income taxes create disincentives for people who spent a lifetime of being self supporting, creating a retirement nest egg to continue their independence into old age. 

        2.) Taking away from the income planned for retirement may even result in a swell of people requiring welfare. 

                  3.) Another difficulty comes in a sort of trickle down effect. The cost of taxes inflates the cost of rentals, and presumably the resale values of homes. This creates difficulty for kids to leave home and start a family life of their own.

                  4.)  The already depressed housing industry could be a source of employment and job creation, which would be much more valuable to the economy than the current plan for extra taxation on it.

Viewing reader comments on this topic, one of particular note was sarcastic, but true. It went something like this:  Throw granny onto an iceberg and send her away . . .  Remove the Obama from Obamacare, and return to the word care.  

When Obama won the presidency of the United States, the entire world rejoiced in the event  that finally the black people of America  were recognized as equal to the white after so many centuries. Yet, as I sit here in front of my computer reading peoples comments, the newspaper articles and especially so on the Times, I cannot help but think that racisms has not died but maybe getting stronger now that the fat cats of America have found that their money tree have been cut down.

Not being an American citizen, nor knowing the politicsl system very well and not being immersed in the economy of the country, I can only judge things by what I see and read

First of all the American economy was left in absolute tatters by the Bush administration which being a typical conservative party would have only looked after  the wealthy, their benefits and well being. The banks and their finances have ruined the housing industry with millions of people losing out badly on their biggest investments. Which responsible economy would lend large sums of money on the most ridicules low interest? The war in the Middle East which was started by the republicans is enough to send any country to the poor house; especially when the ammunition factories are reaping the enormous benefits from their government contracts.

What Obama took on, was a job that no matter what he did,  nothing could be done to improve the situation immediately.  The road to a real recovery will take years and a lot of sacrifices from the American people. Yes the American dollar has gone down and China is growing stronger, but why don’t the American look at this country where the entire population is expandable and then look at themselves?

Unfortunately people have a short memories and very quickly the racism that seemed to have died down is fast rearing its ugly head again, only because people selfish attitude want everything without giving anything in return.

Image by author.

Jobs are disappearing daily all over the world. The news media is reporting hundreds of job cuts and giving gloomy forecasts. The International Labour Organization (ILO) predicts that 20 million jobs, mostly in construction, real estate, financial services, and the automobile sector, will disappear by the end of 2009.

Are there any industries, where jobs will be stable throughout the current financial crisis?

If we compare the current recession to earlier ones like in 1981-1982, 1990-1991 and 2001 in the USA, we would see how some sectors did not lose jobs and the number of jobs even grew in some.

Recession Proof Industries

• Security – No matter how bad the financial crisis gets, the need for security shall not decrease. Jobs like firemen, police, law enforcement officers, customs and security services, forensics, and shop security personnel may even need more skilled personnel during the recession.
• Healthcare – The need for skilled nurses, doctors, psychologists and psychotherapists, analysts, caregivers, medical assistants, physical therapists, home health aides, medical records staff and health information technicians will hardly decrease and may even grow during the recession.
• Education – The need for trained teachers and some other skilled people in the core processes of the education industry in highly populated growth areas remain constant during recessions and will probably remain so now.
• Personal Care – Barbers, hairdressers, beauticians and cosmetologists also could keep their jobs. Businesses in the upmarket range might lose customers but those who cater to downmarket needs will probably survive.
• Legal Professions – Skilled professionals in the claims and compensation sectors, or those dealing with bankruptcies, and contractual disputes usually see more work during recessions.
• Food Industry – People can’t give up eating even during a recession. Cheaper take-aways and eateries would need more staff ready to work at lower pay to function than luxury restaurants, which may not have enough customers.
• House and Car Repairs – Skilled house repair servicemen like plumbers or electricians in densely populated areas didn’t lose their jobs during previous recessions. Though not many new houses are being built, emergency repairs are vital. We might drive older cars, but they need to be serviced and repaired. Cleaners will still be needed.
• Environmental Sector – The demand for skilled professionals in environmental health and protection has been constant and is not likely to diminish during the recession.
• Sales and Marketing – Business need to market more aggressively in hard times. Skilled marketing and salespeople working on commission pay basis would keep their jobs even during the recession days.
• IT and Accounting Services – IT services need to function always. Skilled people working to provide accounting and IT-related services in core business functions would still be in high demand throughout the recession and more during the next upswing.

Image by author.

Recession Prioritizes Spending Habits

However, there might be a redistribution of jobs. Some of these jobs will likely move from scarcely populated areas to high growth coastal areas. During recessions people usually prioritize their spending. This has often meant growth for the cosmetics industry. In tough times, people buy small cosmetic products to feel good quickly rather than more expensive products like TVs or cars.

Overall, business which depend on discretionary spending like entertainment, health supplements like vitamins, voluntary financial services or new houses will lose more jobs than businesses depending on compulsory spending like healthcare, food, childcare, primary education and security etc.

What Skills Employers Look For in Employees During a Recession

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Employers look for certain qualities or personal attributes in addition to the skills that you must have for a particular job. On the job skill sets and attributes are broadly:

1.     Personal skill sets and attributes

2.     Professional skill sets and attributes

3.     Social skill sets and attributes

read more in this article…

Some things have changed permanently. There is no going back in markets struggling to come out of the global recession. The skills you need to improve your marketability and recession-proof your job prospects or get a new job are very different from what many people think. Highly valued skills now are:

• Compatibility with the Job

• Organisational Cultural Malleability
• Motivation and Purpose
• Problem-Solving Ability
• Dependability
• Positive Personality

Read more about them here …

Good luck with your job!