As you know I have gone Galt.
I work as little as I can. I am trying to make less than $30,000 per year (not too hard in this economy). And I have gone back to school. I have acquired no assets which can be taxed or taken from me. And in essence have enjoyed a hell of a lot of free time and vacation time.
In short I am out of the game and refuse to contribute anything to society be it either through taxation or production. Admittedly, I am more of the fringe elements in this country, but consider what would happen to society if most productive people had the epiphany I've had and realized their time is worth more than the pittance of money the government will let you have.
But contrast this current state with me in my youth, and it is night and day. Back then I would work my ass off. 80 hour work weeks were regular for me. Overtime pay as well as the added employment security that came with dedicating myself to my employer resulted in a ton of economic production from myself (as well as tens of thousands of additional tax dollars paid to into the government coffers).
What is interesting though is that it is the "overtime" aspect of economic production that is really the only thing that will get an economy booming again. You don't dedicate yourself to overtime unless you view there is a future or a benefit to it (in addition to the over time pay). However, if you are punished because of progressive taxation on your overtime income and you see no economic future, therefore why would you do such a stupid thing as essentially committing yourself to slavery? Over time, which is precisely what the economy needs, does not make any economic sense.
So you understand when I say, "enjoy the decline" I really mean, I want you to ENJOY the free time forced upon you by the decline. Because, well, you don't have any other choice.