Documentry "Maxed Out"

[Riles_and_Gabe]

I just watched this Documentry last night on netflix. It was very eye opening and very sad for so many people. I know it came out in 2006 but still very interesting. It definitely strengthens my resolve to become debt free as soon as possible.

 

[wiigirl]

I have seen that too, I really liked it.

 

[My2CrazyGirls]

I just watched this Documentry last night on netflix. It was very eye opening and very sad for so many people. I know it came out in 2006 but still very interesting. It definitely strengthens my resolve to become debt free as soon as possible.

OP, I have so much I need to do and I read your post and started watching this instead! I am sitting here with tears in my eyes, it is so sad that people kill themselves over debt

 

[jmac323]

OOH I know what I'll be doing Friday night LOL. Sad but true.

 

[mrssmith06]

Hmmm.. going to watch it now...

 

[eliza61]

I watched it a long time ago.

 

[HeyIt'sMe]

I'm going to have to watch that; sounds like an interesting documentary.

DH & I have had our share of debt -- especially when we were younger. But now that we are older & wiser --- and make more money! --- we save money & try hard not to incur debt. We do have a small balance at 0% for a TV we bought last year and DH's car has a small balance. Both will be paid off this year and then we'll just have our mortgage. Then we're gonna tackle that sucker!

 

[Riles_and_Gabe]

OP, I have so much I need to do and I read your post and started watching this instead! I am sitting here with tears in my eyes, it is so sad that people kill themselves over debt

I cried too! Those two mothers just broke my heart.

 

[preschoolmom]

I watched it this afternoon after reading this thread. I thought it was just okay...

Of course it is sad when kids kill themselves over credit card debt.

I think parents need to do a better job of educating their children about money/finances/investing.

Tell them to avoid consumer credit. To start their retirement with their very first paycheck.

I'm so thankful my parents told me to start my retirement young. I've told them that. Then they said it was the only advice they ever gave me that I followed

 

[TiggerTails57]

I watched a few clips on youtube, Elizabeth Warren knows her stuff.

 

[leahjade]

It's such an entitlement era now! My friend works at a jewelry store and was telling me how so many young people come in and think nothing of charging $10,000 for an engagement ring. They have low paying jobs and don't even own a home, but they will blow all that money to have a "rock." Same thing for the newest computer, phone, car etc. We are doing a bad job educating our youth about economics in this country.

 

[HippieChickadee]

I can't imagine wanting to die because debt collectors are harassing and threatening me! Horrible!

Debt is such a hard thing. Whether you got there from hard times or from being young and stupid, debt sucks and it is near impossible to get out of unless you strike it big.

I'm sorry to everyone who finds themselves trapped in an unfixable situation.

If I knew then what I know now.......

 

[danielle79]

Oh My Gosh, I watched this today on Netflix and thought it was so sad. We can only do so much ourselves, the state that this country is in is horrible. I truly doubt that there will be social security or my husbands pension for us when we retire after watching this. I felt very small and insignifigent after I watched this, how does one person or family contribute to make the national debt go away. Are we not taxed enough! How do other countries not have this debt maybe we should learn something from them.

 

[Marionnette]

Oh My Gosh, I watched this today on Netflix and thought it was so sad. We can only do so much ourselves, the state that this country is in is horrible. I truly doubt that there will be social security or my husbands pension for us when we retire after watching this. I felt very small and insignifigent after I watched this, how does one person or family contribute to make the national debt go away. Are we not taxed enough! How do other countries not have this debt maybe we should learn something from them.

They don't have the amount of debt because they are taxed more. Take a look at what some countries charge in taxes. We are not taxed nearly as much in comparison. Yet we want similar social programs. We just want only a small segment of our society to pay for them.

The EU has a VAT (value added tax) on all consumables. Everyone pays it. You buy a sweater, you pay the VAT. You buy a luxury car, you pay the VAT. The VAT is 15% of the base price. Can you imagine if we tried to institute a 15% flat tax on consumables in this country?

But if you think that our debt is bad, take a look at Greece, Spain, Italy and France. The actual number may not be as high as our debt (there are a heck of a lot more of us than there are of them), but those countries are on the brink of bankruptcy. They've had to scale back on entitlements and people were rioting in the streets over losing their government give-aways. I'm not saying this to wave the red, white and blue. I just want to point out that it's not so wonderful in other nations around the globe, either.