Habit. That's the main reason.
I still consider a $10 lunch to be on the pricey side. I'll do it if
I'm with friends, or it's something like barbecue. But not for just
basic re-fueling. (Which most lunches are.)
Sevcondly, time. I find most expensive places are sit-down places, and
this takes time. In most cases the time taken exceeds the cost of the
food....often by a large factor. I usually prefer to be "In-N-Out," so
to speak.
Thirdly, there really is some economic uncertainty. If current trends
continue, my marginal tax rate is set to go to some very high numbers.
I think I gave an estimate a few weeks ago.
(But if not, in a nutshell: marginally, 39% for income and dividends,
plus 3% Obamacare surtax, plus 10% California, plus 3% special
California surtax, plus other sneaky surcharges and surtaxes which are
not yet fully-expained = a likely 56% marginal tax rate. And, of
course, much of this was already taxed as corporate profits at high
marginal rates before being disbursed to me.)
Several of the high-rollers around here have interspersed their talk of
decadent weekends spent at the Ritz-Carlton, a one example, with talk
of being "currently unemployed."
Amazing.
--
Tim May