A rant about the cost of living

[g5000]

That fiat currency and the slave labor interest we pay. And the liars when you ask about loans. the world is on borrowed time. All people just to start who have ripped off others must be taken to task and face justice for the planet to even have a choice.

Going back to a ban on stock buybacks, ending all tax expenditures except the EITC, and raising the Social Security and Medicare eligibilty age to 70 and indexed to 9 percent of the population would provide us with such a large surplus, we wouldn't know what to do with it all.

First, pay off the debt. Then lower all tax rates.

Our cowardly, power-mad, totally owned politicians will never do this.

Instead, they will take it out of your hide through inflation.

 

[g5000]

And for his secretary, she was paying 28 or 33 percent. Even worse than now.

Cool story, so how much did she make?

To pay a lower tax rate than her boss, she would have had to be earning less than $34,500.

Do you think a man worth $150 billion paid his secretary less than that?

.

 

[g5000]

And for his secretary, she was paying 28 or 33 percent. Even worse than now.

Cool story, so how much did she make?

True story.

According to Google's AI, Buffet's secretary was paid $60,00 a year. That would put her in the 25% bracket.

Buffet: 15%
Secretary: 25%

Historical Federal Individual Income Tax Rates & Brackets, 1862-2021

How do current federal individual income tax rates and brackets compare historically?

taxfoundation.org

 

[kyzr]

Trump added TRILLIONS of useless money. He DOUBLED the deficit before Covid.

So did Biden. Tell us you voted for Kamala to continue the "borrowing & spending" at $2T a year to add to the $37T debt.

Trump? Cut spending?

Yep. Trump cut $1.5T off Biden's last Budget
Then Trump found $500b in new tariff revenue.

3 Key Takeaways From The CBO’s Report On The One Big Beautiful Bill

This article discusses what the CBO is and provides three key takeaways from their latest report estimating the economic impact of the Big Beautiful Bill.

www.forbes.com

CBO estimates a $2.4T deficit over 10-years
That is $240b a year, but CBO did not include:
$205b DOGE savings if congress acts
Increased revenue if Trump's GDP exceeds the CBO assumed 1.8%

It is very possible for Trump to balance the budget, compared to the $2T Biden deficits.

 

[22lcidw]

Going back to a ban on stock buybacks, ending all tax expenditures except the EITC, and raising the Social Security and Medicare eligibilty age to 70 and indexed to 9 percent of the population would provide us with such a large surplus, we wouldn't know what to do with it all.

First, pay off the debt. Then lower all tax rates.

Our cowardly, power-mad, totally owned politicians will never do this.

Instead, they will take it out of your hide through inflation.

Inflation is a tax. Purposely used much of the time. Slight increases in SS and Medicare may give us a few decades more while the generation after the boomers is half the size and will not need as much. Millennials though are the size of the current generation retiring. All money collected form this increase from the previous level should be used for SS and Medicare only though.

 

[g5000]

Inflation is a tax. Purposely used much of the time.

Ayup.

Slight increases in SS and Medicare may give us a few decades more while the generation after the boomers is half the size and will not need as much.

Which is why I say it should be indexed to 9 percent of the population.

.

 

[Rambunctious]

Ayup.


Which is why I say it should be indexed to 9 percent of the population.

.

 

[kyzr]

You really don't understand how tariffs work, do you.
Jesus! Another one! Why do you keep going back to your propagandists to be lied to again and again and again?!?
Or maybe you've been gaslighted so badly, you don't know it's a lie.
Your MAGA media show a video of Biden promising to go after oil production before he was elected, but they NEVER show you this:

United States produces more crude oil than any country, ever

Its not just oil production, its pipelines, like the KeystoneXL that Biden canceled, that cost 300,000 bbls a day, and increased price due to shipping oil instead of pumping it.
Biden canceled two LNG terminals

Why Biden’s pause on new LNG export terminals is a BFD » Yale Climate Connections

The administration’s move puts a spotlight on a potent climate-warming gas: methane, the main ingredient in natural gas.

yaleclimateconnections.org

Biden canceled other pipelines
Biden double-crossed Joe Manchin's Mt. Valley pipeline.
Biden caused refineries to close down

MSN

So you stop gaslighting. Democrats promised to end fossil fuels dumbass.

 

[kyzr]

I agree with Trump on a lot of things, this isn't one of them. The cost of living is no different than under Biden. I don't honestly see any difference. It's the same, expensive, and prices haven't gone down to any noticeable degree.

After Biden's 9.1% inflation, it will take time for prices to drop.
Biden let in 12,000,000 illegals and gave them free food and free housing, that caused prices to spike up
As Trump removes them and lowers the cost of gas, prices should normalize, don't expect a big drop in prices, but they should go up much slower, 2% not 9% a year.

Americans need an extra $11,400 today just to afford the basics, Republican analysis finds

Compared with 2021, the typical household must spend an additional $11,434 annually just to maintain their standard of living, analysis shows.

www.cbsnews.com

Americans need an extra $11,400 today just to afford the basics​

 

[Eman623]

She could quit smoking for starters. That would save her hundreds each month and increase her lifespan.

 

[kyzr]

That is beyond outrageous.(that a 50-year old still owes $100,000.

His fault for going to an unaffordable school. Kids today are having a hard time finding a job.

The reason students are worse off is not the government's fault.

Yes it is. Colleges have $50b tax free Endowment funds, they let 30% foreign kids in, they should fund half the student loans to take some risk off taxpayers.

It is the fault of massively skyrocketing tuition. It has gone up much faster than inflation.

True. With massive Endowment funds sitting there.

 

[kyzr]

Going back to a ban on stock buybacks, ending all tax expenditures except the EITC, and raising the Social Security and Medicare eligibility age to 70 and indexed to 9 percent of the population would provide us with such a large surplus, we wouldn't know what to do with it all.
First, pay off the debt. Then lower all tax rates.
Our cowardly, power-mad, totally owned politicians will never do this.
Instead, they will take it out of your hide through inflation.

1. Stock buybacks help shareholders. If the board has no better use for the cash its a good option.
2. You mean end all IRS tax deductions, (not expenditures)
3. I prefer to end early age 62 retirement, SS starts at 65, so make early SS 65, full SS 70.
4. Paying off the Debt would take a long time.
5. SS & Medicare need to be "fixed" before they go insolvent.

 

[Eman623]

Ask anyone who got a college loan. There are people well into their 30s still paying off loans from when they were 18.

I know a 50-year-old who still owes $100,000.

So the government taking over the servicing of loans would be the result of the current servicers screwing the pooch.

In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.

The Real Student Loan Crisis Is The One Obama Created

Irresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is... Read More

www.investors.com

Exactly the wrong thing to do. Here's what should be done.

1. Get the government out of the student loan business starting today. Only private lenders and the colleges themselves can give student loans

2. Allow college debt to be discharged in bankruptcy. That will allow the 50 year old to get a fresh start.

After we do this, then going forward, students will need to prove themselves a good financial risk in order to get someone to loan them $100K. And if they can't prove that, then consider a nice state or junior college instead. Or even trade school.

 

[Toddsterpatriot]

True story.

According to Google's AI, Buffet's secretary was paid $60,00 a year. That would put her in the 25% bracket.

Buffet: 15%
Secretary: 25%

Historical Federal Individual Income Tax Rates & Brackets, 1862-2021

How do current federal individual income tax rates and brackets compare historically?

taxfoundation.org

For the 2011 tax year, the standard deduction was $5,800 for single filers, and the personal exemption was $3,700 per person.
$60,000 - $5,800 - $3,700 = $50,500

$4,750 + $4,000 = 8750.

8750/60000 = 14.58%

 

[Toddsterpatriot]

Exactly the wrong thing to do. Here's what should be done.

1. Get the government out of the student loan business starting today. Only private lenders and the colleges themselves can give student loans

2. Allow college debt to be discharged in bankruptcy. That will allow the 50 year old to get a fresh start.

After we do this, then going forward, students will need to prove themselves a good financial risk in order to get someone to loan them $100K. And if they can't prove that, then consider a nice state or junior college instead. Or even trade school.

1. Get the government out of the student loan business starting today. Only private lenders and the colleges themselves can give student loans

I agree 100%.

2. Allow college debt to be discharged in bankruptcy. That will allow the 50 year old to get a fresh start.

What are the limits to the discharge?
He has a decent job, just doesn't pay much toward the loan.

After we do this, then going forward, students will need to prove themselves a good financial risk in order to get someone to loan them $100K.

As long as bankruptcy isn't too easy, I agree.

 

[candycorn]

.

Talk to your local franchisee and ask them how they like their second yacht.

You are clueless.

.

Yeah, that may have been a bit of an exaggeration....

 

[Nostra]

From what I can see, there's only two things that can turn around this insane real estate / home buying / apartment rent nightmare:

Either (a) a full-on real estate market crash of at least 30% to 40% that would snowball into a goddamn catastrophe that would make the 2008 Meltdown look like a walk in the park, or (b) a restructuring of law that doesn't allow private equity to swallow up half the ******* homes and apartment buildings in the country for rental investments.

This is a perfect example of how we've misapplied capitalism, the greatest force for prosperity ever. It needs smart controls to work properly, and we absolutely refuse to do that. Regulations are evil!

Not too many moving parts on this one, gang.

Update on this MARKET CRASH Mac1958