Should the Social Security and Medicare Age be Raised

It’s been widely reported that Americans living paycheck to paycheck is something like 70%. You are aware of this right? Now we can criticize all these people as dumb and lazy, but you know that’s dumb. Yes many don’t know how to effectively handle money and save for the future. However many have so little money, saving and investing is impossible.
No one will miss 10 cents on the dollar.

And how much are these people overpaying every week in income taxes so they can get a "refund" of an interest free loan the gave to the fucking government?
 
No one will miss 10 cents on the dollar from a weekly paycheck.

You think it has to be a one shot deal?

People do stupid things like letting the fucking IRS take too much money out of their pay so they can get a refund. If you just adjust your withholding do ir is equal yo what your tax burden will be you'd be surprised how much extra money you have every week
Good point they could claim the right deduction and use the money they give the IRS in interest and invest it instead
 
No one will miss 10 cents on the dollar.

And how much are these people overpaying every week in income taxes so they can get a "refund" of an interest free loan the gave to the fucking government?
Don't you love how the commercials for the tax preparers all seem to suggest that a refund is some sort of bonus?
 
Good point they could claim the right deduction and use the money they give the IRS in interest and invest it instead
Problem is that the interest earned on that small amount of money doesn't add up to much and it takes a lot of discipline (that most people don't have) you save that on your own.
 
No one will miss 10 cents on the dollar from a weekly paycheck.

You think it has to be a one shot deal?

People do stupid things like letting the fucking IRS take too much money out of their pay so they can get a refund. If you just adjust your withholding do ir is equal yo what your tax burden will be you'd be surprised how much extra money you have every week

My sister is very intelligent and makes close to 6 figures a year. She still overpays the government to get that check come tax time. I tried to tell her what that money could do in a years time but she just loves that refund; kind of like those people who are addicted to scratch off lottery tickets.
 
Problem is that the interest earned on that small amount of money doesn't add up to much and it takes a lot of discipline (that most people don't have) you save that on your own.
The goal is compounded interest over years of saving not what the interest you make in one year.

You really don't understand money at all.
 
Problem is that the interest earned on that small amount of money doesn't add up to much and it takes a lot of discipline (that most people don't have) you save that on your own.
Again you have me there.. But it's a start
 
And how many people have the expertise to do that?

Not a lot. That's why you save some money and sign up with a reputable investment company. Let them handle it. All you have to do is make any contribution when and if you can.
 
My sister is very intelligent and makes close to 6 figures a year. She still overpays the government to get that check come tax time. I tried to tell her what that money could do in a years time but she just loves that refund; kind of like those people who are addicted to scratch off lottery tickets.
I aske people if they would pay 30% more for everything so they can get their own money back next year with no interest and they begin to understand that overpaying taxes is no different
 

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