The work-to-reward ratio has been in steady decline for decades, but may have shifted decisively and perhaps irreversibly since the bottom fell out in 2008. It’s bad enough (but still tolerable) when they take 35 percent of your income, but the remainder is sufficient to provide for the necessities plus some extras. When you can still comfortably indulge occasionally. But what happens when your income drops by a third or more – and they’re still taking 35 percent? Or more? And when the cost of necessities – gas, for example – has doubled during the same time?
All of a sudden, you find you’re working harder and longer for less. You notice there’s not time for much outside of work. Mainly, you’d just like to get some sleep – and now sweat the cost of groceries. Indulgences are a memory. Your stuff has become a burden(rant on that here).
I added it up recently.
I own two trucks (both older, the newest a 2002 model) and five motorcycles (the newest a 2003 model). Even so, I am still paying about $60 a year each to maintain “registration.” That’s $420 annually. Add in yearly state [amazon asin=1619490927&template=*lrc ad (right)]“safety” inspections ($15 each) plus the rancid “personal property” tax my state levies (ranges from $70 per on the low end to $150 on the high end) and I’m easily hemorrhaging $1,000 a year just to maintain the fiction that I “own” my vehicles.
Mind that this does not include insurance – which (legally) I am just as obliged to pay, though my money is filched for the benefit of a private mafia as opposed to the public one. If you include the cost to maintain insurance – and my costs are relatively low because I’m a married, middle-aged guy with a “clean” driving record, who owns older, paid-for vehicles and thus I can still choose a minimum-coverage/liability-only policy – the “cost to own” figure easily doubles.
Now, factor in the cost of gasoline – which has doubled. And motor oil and so on.
Owning – that is, being allowed temporary and conditional use of – a vehicle has become a pricey proposition.
And more than just that – it’s a hassle.
Is it any wonder more and more people – especially young people – are beginning to abandon ship? In researching my pending book about the end of America’s love affair with the car, I found a very interesting statistic: An all-time record high percentage of people in the 18-35 bracket have never had a driver’s license. Many of them, when asked, state that they have no desire to ever get one. They’d rather walk, or bicycle or use public (government) transportation.[amazon asin=0990463109&template=*lrc ad (right)]
Kids approaching 16 in prior times pined for the day when they could get their driver’s license – and their first car – almost as much as they ached to lose their virginity. It was a rite of passage – and much more importantly, it was about fun.
And freedom.
Not anymore.
And the reason why is obvious.
They – TPTB – have systematically sucked the fun out of driving with their ridiculous laws and over-the-top punishments (see for example my recent piece about “reckless” driving). Their fees and taxes and mandates and so on have imposed stultifying costs that have made owning a car a 3,200 pound albatross of debt and expense that smarter people are beginning to realize just ain’t worth it.
