So what? 25% less salary won't make any significant difference. Just purchase a smaller house or cheaper car or stop eating out and start cooking your meal (you will have time to that). If you give people 25% more of their free time to spend with their families, it is a very good sign. Who said that people should spend all their lives on somebody's wealth and not on their families? There are many countries with salaries 10-100 smaller than in US (with the same prices for food and goods) and people sill live there. Russia had at least two financial crashes. Nothing terrible happened. Bankruptcy is OK, hyperinflation is not that bad too. Working less on somebody and spending more time with your family is even better. Americans are spending too much on all sorts of junk, if they lose even 50% of their salaries they will simply buy less junk. Why do you need 2000+ sq feet for family of three when in most countries you will be happy to have 500 square feet for the same family? You got used to live in luxury but in socialism it is only the privilege of those in power, general population should live near poverty. Saving 5 years to buy a TV, saving 20 years to buy a car.

America chose the socialists path yesterday so get prepared for it.