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ummmm.... there's a strategy that she apparently missed. Put 10 years of spend in low yield, safe investments and the rest in equities and bonds. Market has never lost money over any 10 year period. This is basic financial planning stuff.SS was established for people too stupid to save for their own retirement ...
Agreed.
If one makes only $35k per year, gets 3% annual salary increases, saves 10% of income in the stock market and gets 8% returns, consistent with historical stock market returns....
You don't see the hypocrisy there? ... people too stupid to invest in equities ... a friend's mom lost $250,000 during the 2008/09 crash ... why on Earth would a fragile 78-year-old woman be invested in the stock market? ... she lost her home, had to live with her children until she died ... this is how Republicans want to pay off the national debt ... heartless monsters ...
I love it when you make moral arguments.No it was established to give the government more money to play with. And I'm not a conservative or a republican so let's see if you can have a conversation without your need to attach partisan labels on everythingSocial Security isn't a pension fund. It never was.
And if you bothered to do the math you might see that if you had control of that money and the money that your employer matches that you would actually be able to retire with a fuck of a lot more money than Social Security will pay you.
SS was established for people too stupid to save for their own retirement ... once they were too old to work, they lived on in abject poverty, or with one of their children ... something conservatives seem to like ...
CBS News looked into the ROI about ten years ago ... "What's the Return on Your Social Security Taxes?" -- Feb 28th, 2011:
"How's it shake out? If you retired last year [2010] as an average wage-earning man, for example, you could expect a lifetime benefit worth $417,000 in today's dollars on $345,000 in taxes. If you were a woman with the same work history, you could expect to collect $464,000 on the same taxes."
So ... that's your solution to the debt ... strip the SS Trust Fund and take the 15.3% payroll taxes ... then quit paying benefits ... wise, very wise ...
And you don't quit paying benefits to the people who have already been duped by the government line.
do the math and see what a person who works for 40 years and calculate what his retirement account would be worth using the average stock market return in that 40 year period.
I'll simplify it for brevity. Assume an average 50K a year salary. Social Security on that is 258 a month with your employer match that's 516 a month
The average stock market return since 1971 is 10.8%. I'll use lower amounts.
in 40 years that will be worth
1283000 at 7%
1673286 at 8%
768615 at 5%
if we use the 10.8% actual average we get
3606892.
And we can still make the deductions mandatory and simply give people an option where to put their money. That way the people not the government would own their own retirement accounts.
There's a reason the government doesn't want this. Can you figure out what that reason is?
Where did you get $50,000 per year? ... do you think waitesses make that much? ... have you subtracted manager's fees? ... how about dividend taxes? ...
with your employer match that's 516 a month
The AARP benefit calculator gives this as $1,848 per month ... do the math moron ... the stupidity of your argument is that SS taxes are capped at $20,334 per year (in 2019) ... that's all a person pays even if they make over $139,200 ... this is who you're belly-aching about ...
You must like seeing crippled old people living in the gutters and alleyways ...
I like how you guys are talking down to each other. While probably not conducive for anything constructive, it is entertaining as hell.No it was established to give the government more money to play with. And I'm not a conservative or a republican so let's see if you can have a conversation without your need to attach partisan labels on everythingSocial Security isn't a pension fund. It never was.
And if you bothered to do the math you might see that if you had control of that money and the money that your employer matches that you would actually be able to retire with a fuck of a lot more money than Social Security will pay you.
SS was established for people too stupid to save for their own retirement ... once they were too old to work, they lived on in abject poverty, or with one of their children ... something conservatives seem to like ...
CBS News looked into the ROI about ten years ago ... "What's the Return on Your Social Security Taxes?" -- Feb 28th, 2011:
"How's it shake out? If you retired last year [2010] as an average wage-earning man, for example, you could expect a lifetime benefit worth $417,000 in today's dollars on $345,000 in taxes. If you were a woman with the same work history, you could expect to collect $464,000 on the same taxes."
So ... that's your solution to the debt ... strip the SS Trust Fund and take the 15.3% payroll taxes ... then quit paying benefits ... wise, very wise ...
And you don't quit paying benefits to the people who have already been duped by the government line.
do the math and see what a person who works for 40 years and calculate what his retirement account would be worth using the average stock market return in that 40 year period.
I'll simplify it for brevity. Assume an average 50K a year salary. Social Security on that is 258 a month with your employer match that's 516 a month
The average stock market return since 1971 is 10.8%. I'll use lower amounts.
in 40 years that will be worth
1283000 at 7%
1673286 at 8%
768615 at 5%
if we use the 10.8% actual average we get
3606892.
And we can still make the deductions mandatory and simply give people an option where to put their money. That way the people not the government would own their own retirement accounts.
There's a reason the government doesn't want this. Can you figure out what that reason is?
Where did you get $50,000 per year? ... do you think waitesses make that much? ... have you subtracted manager's fees? ... how about dividend taxes? ...
with your employer match that's 516 a month
The AARP benefit calculator gives this as $1,848 per month ... do the math moron ... the stupidity of your argument is that SS taxes are capped at $20,334 per year (in 2019) ... that's all a person pays even if they make over $139,200 ... this is who you're belly-aching about ...
You must like seeing crippled old people living in the gutters and alleyways ...
The median income is 68000.
I chose 50K so as to be significantly below that. And you might want to look and see that I said the 50K was the average over a 40 year period so it accounts for people making less when they are younger and more when they are older.
And the 516 a month is not a benefit, Idiot. It's the money taken out of the person's salary plus the amount the employer has to match which is then PAID IN to the government.
You don't need a money manger to buy stocks, bonds or mutual funds. You can do it all yourself. You can look up portfolio recommendations for your age group. Shit most places offer mutual funds that automatically change asset allocations as you near retirement.
And no one would be living in alleys if they had control of and actually owned their own Social Security accounts. But the government doesn't like that idea because then they would lose their slush fund.
What would be wrong with this again?let them suffer in old age and died of exposure on the streets? ...
BullshitYeah, on those making $400K or more per year. As he promised in his campaign.
Let's try giving billions to foreign countries and special interests like comrades pelosi and schumer just did. IdiotsDo conservatives have a better idea on how to pay off the $30 trillion national debt? ... that's $600 billion in interest every year ...
Employer expense to provide jobs is already tax-deductible ... these added taxes are only against the added profits ... maybe folks should go back and finish Middle School ... geez ... morons ...
I didn't pay one red cent in Federal Taxes last year ... zero, zilch, nadda ... how much did you pay and why do you think that's fair? ...
Demscum are sure dumbPrevious post just more BS from the party of dumb.View attachment 467956
'Hold onto your wallets'! Hope you enjoyed
your economic stimulus, because Joe Biden
is reportedly 'planning first major tax hike in
almost 30 years'
President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package.
The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million.
PUBLIC FEEDBACK WAS SWIFT TO THE NEWS OF BIDEN'S PLAN:
“After we allow you to open your business back up, we’re gonna raise not only your wages, but your corporate tax rate to pay for a bill that sent billions of your dollars to the teachers unions that they donate back to my campaign.”
"But at least we got stimulus checks!
- And just like that, Joe Biden undoes any benefit that might have come from a stimulus check. "
"Taxing those who have the financial resources to reinvest in struggling businesses and help spur economic growth post-pandemic makes no sense."
The Democrats put more than 50% of minority-owned small businesses out of business ... put millions of Americans out of work, back on unemployment, back on welfare, and back on food stamps...put tens of thousands of Americans out of work in his 1st 10 days by declaring 'war' on the fossil fuel industry....the militant arm of he Democratic party (Antifa) is still burning, pillaging, and destroying businesses and Democrat-run communities all over the US.....class warfare is a Democrat 'specialty', and the Democrats' disdain for the middle and lower class 'deplorables' and 'Neanderthals' has been on full display since the self-appointed rulers took office.
After bribing the American people with $1400 each in a $1.9 Trillion 'COVID-19 Relief' deficit bomb - 90% of which had nothing to do with COVID-19, Biden plans on sticking Americans with a huge Tax Increase....just what a country still in the midst of a pandemic, Democrats-mandated, travel-restricted, Clue-State oppressed / locked-down, forced unemployment, massive debt-increased, illegal immigrant invasion, humanitarian border crisis burdened economy needs!
I for one am thankful that the Democrats are so adamant about refusing to work with the GOP and insist in doing all of this by themselves ... while attempting to blame President Trump for every failure / problem resulting from what they have done and continue to do.
'Hold onto your wallets'! Hope you enjoyed your economic stimulus, because Joe Biden is reportedly 'planning first major tax hike in almost 30 years'
"We're all going to literally be paying for removing the guy who tweeted mean things."twitchy.com
Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible.
Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
Sure, serve one up.
The bill provides money to state and local governments for the costs associated with the pandemic....tell me people hate that one and provide proof that convinces.
The bill provides money to small businesses for the costs of shutdown due to the virus. Provide your "facts" that most people disapprove of that.
Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
It's not irrelevant to your original assertion which was, "Even the stupidest politician knows that the middle class is where the money is."View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
Irrelevant.
all that shows is the decrease in lower income households is being offset by the increase on households with 100K or more of income.
And FYI households with over 100K in income pay higher income taxes than the households making 50K.
Which is why the income tax is the government's preferred revenue generator.
It's not irrelevant to your original assertion which was, "Even the stupidest politician knows that the middle class is where the money is."View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
Irrelevant.
all that shows is the decrease in lower income households is being offset by the increase on households with 100K or more of income.
And FYI households with over 100K in income pay higher income taxes than the households making 50K.
Which is why the income tax is the government's preferred revenue generator.
You'd do anything not to admit you were wrong.It's not irrelevant to your original assertion which was, "Even the stupidest politician knows that the middle class is where the money is."View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
Irrelevant.
all that shows is the decrease in lower income households is being offset by the increase on households with 100K or more of income.
And FYI households with over 100K in income pay higher income taxes than the households making 50K.
Which is why the income tax is the government's preferred revenue generator.
It is where the money is. It has always been where the money is and FYI a household with 100K in income is middle class
It's not irrelevant to your original assertion which was, "Even the stupidest politician knows that the middle class is where the money is."View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
Irrelevant.
all that shows is the decrease in lower income households is being offset by the increase on households with 100K or more of income.
And FYI households with over 100K in income pay higher income taxes than the households making 50K.
Which is why the income tax is the government's preferred revenue generator.
dqydj.com
I'm notYou'd do anything not to admit you were wrong.It's not irrelevant to your original assertion which was, "Even the stupidest politician knows that the middle class is where the money is."View attachment 469183Even the stupidest politician knows that the middle class is where the money is.
The income tax is based on the fact that the middle class needs to work and will work as long as possible..
It's not shrinking the upper end of the middle class is growing and those people are still working for their money and are still paying income tax.
Irrelevant.
all that shows is the decrease in lower income households is being offset by the increase on households with 100K or more of income.
And FYI households with over 100K in income pay higher income taxes than the households making 50K.
Which is why the income tax is the government's preferred revenue generator.
It is where the money is. It has always been where the money is and FYI a household with 100K in income is middle class
www.thedailyworld.com
