A Coming Generational Conflict

Discussion in 'The Okie Corral' started by reniram, Sep 23, 2020.

  1. railfancwb

    railfancwb

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    D58222F2-99D1-4D34-954E-CA96056631EE.jpeg
     
  2. Doc Holliday

    Doc Holliday CLM

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    Socialism always looks good to those who have nothing.
     
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  3. Diesel McBadass

    Diesel McBadass Tactically Epic

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    they would rather everyone have nothing than someone else have more
     
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  4. Pythonman

    Pythonman

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    Next to college debt, renting a home or apartment is the quickest means to financial nowhere’s-Ville I can think of. 30 yrs ago I got married to my wife on a shoestring budget that would seem shocking to today’s youth. We had next to nothing and minimal wage jobs. But we bought a home on a 15yr mortgage just before marrying, fixed it up to make it livable and never missed a payment and sold it after it was paid off for nearly three times what we bought it for. Then we bought a much larger and nicer home and by then we were making considerably better wages than we started out with.

    In those years I put myself through college mostly on my dime and when I left college I owed nothing. The personal satisfaction of making your own choices and strategies and having them work so well is something else nobody can give you.
     
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  5. Diesel McBadass

    Diesel McBadass Tactically Epic

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    I'll be closing on my first home within next couple weeks and am debt free other than the mortgage. Its a good feeling. I know too many people in debt from a ton of toys and renting places.
     
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  6. mike from st pe

    mike from st pe

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    I've been asking what is one's fair share for decades, and what is a "living wage"/
     
  7. mike from st pe

    mike from st pe

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    Ain't never gonna happen. All the blustering about saving or repealing SS is just that bluster.
     
  8. syntaxerrorsix

    syntaxerrorsix Anti-Federalist CLM

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    That's right, it'll just have to become insolvent all on it's own.
     
  9. mike from st pe

    mike from st pe

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    Give me back the money taken from my pay and pay compounded 5% for the 36 years I paid and the government can stop sending checks.
    Problem is this ponzi will continue and it is something we will have to suffer for generations. Or, maybe not. If the democrats get too much control ... ?
     
  10. Jonesee

    Jonesee

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    FICA is a tax. It isn't a savings account or brokerage account, annuity.

    Understand that and you will understand how preposterous your request is.

    You've paid federal taxes all your working life. You will not get them back.
     
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  11. thespork

    thespork

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    in the parts of the country where the economy is thriving, this is no longer possible
    College tuition has raced forward faster than inflation.... You cannot do this now...
     
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  12. racerford

    racerford

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    All these years and you still can’t answer the question for yourself? How sad.
     
  13. mike from st pe

    mike from st pe

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    Rhetorical questions do not have answers
     
  14. racerford

    racerford

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    It is not a rhetorical question. Without the answer, one can never say someone does or does not pay their fair share, and have it mean anything.
     
  15. mike from st pe

    mike from st pe

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    So, tell me what is your idea of a fair tax rate? And add your idea of what a living wage is also.
    No tax is fair.
     
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  16. Scamp57

    Scamp57

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    Let's take money from the people who work, and give it to the trifling bums who dont work.
     
  17. Doc Holliday

    Doc Holliday CLM

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    We already do that.
     
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  18. Doc Holliday

    Doc Holliday CLM

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    Well, just what the hell is a 'fair share'? I worked hard for that money, not the gov't, is it 'fair' for them to simply reach in and steal a percentage of it from me? NOT AT ALL...and if I don't pay, they throw me in jail? Take my house? My car? My bank account? They're no better than the MAFIA coming around and threatening me if I don't pay up. So the gov't gets away with organized extortion, probably needs to charge itself with every RICO law on the books.

    My sweat, my labor, my time...my money, not theirs. They need to go make their money from international treaties and commerce, not off the backs of the working class. Not enough money coming in from that? Then downsize the damn gov't...which has never happened since its creation. Sure, I'll pay for a gov't issued Passport and services when I need them, but we shouldn't have to pay tithing to the gov't overlords all the time from each and every paycheck.
     
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  19. JohnBT

    JohnBT NRA Benefactor

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    Regarding the earlier post that said Social Security Retirement benefits are taxed at 85%. That rate only applies to people with income exceeding the stated limits. There's a worksheet. A great number of retired people don't pay any taxes on their SSA Retirement income.

    When reading this pay attention to the definition of Combined Income...

    "Your adjusted gross income
    + Nontaxable interest
    + ½ of your Social Security benefits
    = Your "combined income""

    From SSA:

    "Income Taxes And Your Social Security Benefit
    Some of you have to pay federal income taxes on your Social Security benefits. This usually happens only if you have other substantial income in addition to your benefits (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return).

    You will pay tax on only 85 percent of your Social Security benefits, based on Internal Revenue Service (IRS) rules. If you:

    • file a federal tax return as an "individual" and your combined income* is
      • between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
      • more than $34,000, up to 85 percent of your benefits may be taxable.
    • file a joint return, and you and your spouse have a combined income* that is
      • between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits.
      • more than $44,000, up to 85 percent of your benefits may be taxable.
    • are married and file a separate tax return, you probably will pay taxes on your benefits.
    Your adjusted gross income
    + Nontaxable interest
    + ½ of your Social Security benefits
    = Your "combined income"
    "
    ____________________

    Here's the link to the SSA worksheet you have to use to determine how much of your SSA and/or SSI (Supplemental Security Income) benefits are taxable.

    https://apps.irs.gov/app/vita/content/globalmedia/social_security_benefits_worksheet_1040i.pdf
     
  20. racerford

    racerford

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    There are multiple types of fair, But here are two. One is take the federal budget, divide it by the number of people in the country. Multiply that times the number of people in your family. That is the fair amount of taxes. Of course the people at the bottom, would be unable to pay all of that, if implemented cold turkey. But if you believe as AK_Stick does, who cares, tough turkey for them. They could ask for private charity, or just let them die. Or maybe bottom wages will quickly rise.

    Another fair is a flat tax, with maybe a small deduction per person in the family. You would take the budget and divide it by total income of the people in the country (adjusted to account for the small per person deduction) and there is your flat rate. Cap the budget to the rate once established.

    To help all this be less expensive, we would eliminate the federal departments and functions that are not defined by the Constitution, those eliminated functions and programs could be taken up by the states, if they wanted. This would require, preplanning, lead time and transition. It would be painful and hard work.

    What is a living wage? That is tougher. The cost of about 200 square feet of living space per person and about $300 per month per person for food. Maybe $200/month for utilities and $100/other costs, maybe a little for medical costs. No money for TVS or Cell phones. No Switches, iPads, etc. If you have ever been to other countries, like South Africa, Mexico, Jamaica, etc. you would understand what poverty is. Our idea of poverty is way above how the poor live in other countries. Poor people here have really nice cell phones, big TVs, multiple cars (not all running), cigarettes, beer, etc.

    Would I want to live like that, no. So I work hard. I paid attention in school. I am respectful to others, so I can keep a job.

    I am old enough to remember when private charity did a lot of what government does to help the poor. Soup kitchens, charity hospitals (how many of those are left?). Somehow that became the government's job. Probably due to the Great Depression and private charity was overwhelmed, and once the government get it's hands in something it will not let go.

    So pony up. What is someone's "fair share"?