Here’s a sob story about a college%educated professional who can’t support his four kids without the enchanted government child support

[Winston]

Your numbers are all wrong. Try slightly more than $2000 in SS, or around $25,000 a year, plus $18,000 MRD on an IRA of around $300,000 - saved over decades of work, all while paying taxes. That’s $43,000 - and taxes are owed on what is a modest income. Yet our software engineer earning six figures doesn’t have to pay tax, and why? Because he’s crying that he can’t afford the four kids he has, and you leftists want to give him other people’s money.

Thus:

Grandma who paid taxes over four decades of work, and now has a $40kish income on which she must pay taxes, and

50-year old software engineer earning $120,000 and getting excused from taxes - let Granny pay!! - because it’s not enough to cover the costs of the four kids he had and can’t afford, and his entitled wife doesn’t want to get a part-time job while the kids are in school to be able to support the family

There is so much wrong here that I don't know where to start. First, your Grandma must be 82, that fits into the six percent RMD, not MRD--it is required minimum distribution. And perhaps Grandma paid taxes, but she sure didn't pay taxes on a penny of 300 grand in her IRA, that is why she has to take an RMD, so the government can finally get some taxes on all that income Grandma socked away. In fact, that is the only income tax Grandma has to pay because she has not hit the threshold where Social Security Income is taxed, that is $25,000. But Grandma gets the standard deduction, $12,550 for 2021. So she pays taxes on whopping $5,450, that is a sum total of $545 on FORTY THREE GRAND worth of income. something like a marginal tax rate of 1.2%

Grandma is not subsidizing anyone. Matter of fact, the person you are complaining about is paying Grandma's Social Security check, paying three fourths of Grandma's Medicare Part B premium, and three fourths of Grandma's Medicare drug plan. Not only does he have four kids to raise and a wife support, he has to carry Grandma on his back, and yet she has three times his annual income sitting in the bank that she has not paid two cents in taxes on. Welcome to the real world.

 

[Winston]

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.

Request to withhold taxes

Submit a request to pay taxes on your Social Security benefit throughout the year instead of paying a big bill at tax time.

www.ssa.gov

So the individual in the OP, with an income of $18,000, does not have to pay taxes on their Social Security.

 

[Winston]

Even more….not only wasn’t the family guaranteed to get money every month until the kids came of age, they were never expecting it all. This is a completely unexpected windfall.

And forget the $150,000 family - that case is so obvious I can’t belice a liberal is even arguing for them. The one family I know with four young kids, and a husband with a middle-income salary, and who always watched their budget, are now flush with disposable income. They are buying all sorts of superfluous stuff - the wife just bought a $300 jewelry storage chest, and they have now booked a week in a Virginia Beach hotel for the spring - neither of which they could previously afford.

WHY are retirees with modest incomes, or childless adults, paying the cost for this unexpected windfall? Inflation is skyrocketing as a result, and the market is spooked with pending rates hikes. All so middle-income families can book vacations and buy unnecessary goodies?

I thank G-d Manchin blocked the BBB from going forward. A big part of it was continuing the expanded handouts to 90% of families, the cost of which is borne by non-families.

You have some real issues. I mean she bought a $300 jewelry box, horrors of horrors. A vacation, well do tell. If anyone has a right to have their panties all in a knit here it is me. I raised six kids and I can tell you, I took precisely two vacations over twenty plus years--the one's my parents paid for. Oh, they were quite grand. Dad and Mom rented a house for ten days, first at Myrtle Beach and the second time on the Outer Banks. My big ass family, my brother's little ass family, and my sister and her husband with no kids. We all took turns cooking dinner each night with Dad going to the store with the one in charge to make all the purchases.

But damn, had I gotten those tax credits I could have bought a nice ass house. And you know what, not only would my wife have bought a jewelry box, she would have bought some jewelry to go in it too. Instead, I worked my ass off, most of the time two jobs, until I finally got off the rat wheel and learned to use the system. But those kids were raised with a stay at home mother, and the benefits cannot be denied. Like I said, two doctors, an entrepreneur, a kick ass salesman, and a fledging lawyer. Every single dime in government assistance my family ever got has been paid back dozens of times over again in tax contributions. They keep up all kinds of your Grandma's in the OP. So tell me, how stupid would it have been if Grandma had of bitched and cut off all that assistance? Where would Grandma be if all those kids were drawing welfare instead of paying tens of thousands in federal income taxes?

And Manchin is a dumbshit. The cost of those handouts was going to be financed with a surtax on billionaires. I mean we have already seen your contention, that elderly individuals making 40 grand a year are paying for those benefits, doesn't hold water. What you are really defending is billionaires holding on to a few extra million dollars while denying hard working Americans doing the most important work for our future, raising children, the benefits that redistributing that income from those billionaires could accomplish. And maybe it is all because of a jewelry box. God bless your heart.

 

[martybegan]

And yet we have an entire thread of right wing outrage that someone making somewhat over $100k is too rich for a tax cut.

The outrage is the complaint that only this tax credit allows them to "survive", and of course it's the fault of the mean old Republicans to not allow this one part to pass because of their opposition to the 10 tons of other crap in the bill that contained it.

 

[Lisa558]

There is so much wrong here that I don't know where to start. First, your Grandma must be 82, that fits into the six percent RMD, not MRD--it is required minimum distribution. And perhaps Grandma paid taxes, but she sure didn't pay taxes on a penny of 300 grand in her IRA, that is why she has to take an RMD, so the government can finally get some taxes on all that income Grandma socked away. In fact, that is the only income tax Grandma has to pay because she has not hit the threshold where Social Security Income is taxed, that is $25,000. But Grandma gets the standard deduction, $12,550 for 2021. So she pays taxes on whopping $5,450, that is a sum total of $545 on FORTY THREE GRAND worth of income. something like a marginal tax rate of 1.2%

Grandma is not subsidizing anyone. Matter of fact, the person you are complaining about is paying Grandma's Social Security check, paying three fourths of Grandma's Medicare Part B premium, and three fourths of Grandma's Medicare drug plan. Not only does he have four kids to raise and a wife support, he has to carry Grandma on his back, and yet she has three times his annual income sitting in the bank that she has not paid two cents in taxes on. Welcome to the real world.

Your mistake is that you are looking at Grandma’s situation NOW and ignoring the fact that she paid taxes for 40 years, also raising a family, and without the tons of free money being given to families now - while the affluent family is now going to get off Scott-free, with no taxes at all because…..four kids they claim they can’t support without help.

So yes, now Grandma is benefitting from the decade, after decade, after decade, after decade in which she raised her family AND paid taxes all those years. She has earned a bit of a break after her long history of contributing to society and taxes - AND that was the agreement!

The well-off family, on the other hand, hasn’t paid taxes for all the decades Grandma has, and now, out of the blue, they are getting a cash windfall. They haven’t earned it, nor was there any type of agreement. Liberals just decided if they gave money to affluent families, or told them they don’t have to pay taxes, they would vote for Dems.

I myself am retired, and my tax liability has dropped by 75%. The only reason I owe ANY tax is because I saved into my IRA (and later a SEP), and I now must withdraw some (I’m too young to have an RMD, but I can’t live on SS alone), but is still incredible that liberals like you - who always claim to be for the people with minimal incomes - are saying affluent families should get the windfall of $1000+ a month, while Granny - who contributed a lifetime of taxes - should continue to pay tax and be happy with her $80 a month SS increase.

 

[Lisa558]

You have some real issues. I mean she bought a $300 jewelry box, horrors of horrors. A vacation, well do tell. If anyone has a right to have their panties all in a knit here it is me. I raised six kids and I can tell you, I took precisely two vacations over twenty plus years--the one's my parents paid for. Oh, they were quite grand. Dad and Mom rented a house for ten days, first at Myrtle Beach and the second time on the Outer Banks. My big ass family, my brother's little ass family, and my sister and her husband with no kids. We all took turns cooking dinner each night with Dad going to the store with the one in charge to make all the purchases.

But damn, had I gotten those tax credits I could have bought a nice ass house. And you know what, not only would my wife have bought a jewelry box, she would have bought some jewelry to go in it too. Instead, I worked my ass off, most of the time two jobs, until I finally got off the rat wheel and learned to use the system. But those kids were raised with a stay at home mother, and the benefits cannot be denied. Like I said, two doctors, an entrepreneur, a kick ass salesman, and a fledging lawyer. Every single dime in government assistance my family ever got has been paid back dozens of times over again in tax contributions. They keep up all kinds of your Grandma's in the OP. So tell me, how stupid would it have been if Grandma had of bitched and cut off all that assistance? Where would Grandma be if all those kids were drawing welfare instead of paying tens of thousands in federal income taxes?

And Manchin is a dumbshit. The cost of those handouts was going to be financed with a surtax on billionaires. I mean we have already seen your contention, that elderly individuals making 40 grand a year are paying for those benefits, doesn't hold water. What you are really defending is billionaires holding on to a few extra million dollars while denying hard working Americans doing the most important work for our future, raising children, the benefits that redistributing that income from those billionaires could accomplish. And maybe it is all because of a jewelry box. God bless your heart.

I didn’t read your entire leftist rant because your first sentence shows how incapable you are of understanding the point. Yes, she spent hundreds on a jewelry box - but she did so with OTHER PEOPLE‘S MONEY, which In turn is driving inflation.

And you raised six kids, you say. Are you the same liberal who bragged how he took government assistance so his wife wouldn’t have to work? If so, our discussion is FINISHED. You should be ashamed that you made other people sacrifice, and bear the cost of giving your family welfare benefits when your wife could have worked and helped support the family.

 

[Lisa558]

So the individual in the OP, with an income of $18,000, does not have to pay taxes on their Social Security.

What individual in the OP? We have already established he is a software architect earning six fogures.

And if you are talking about me, where did I ever say that I had an $18k income?

It‘s impossible to debate with radical leftists when they jump to all sorts of false assumptions.

 

[Papageorgio]

There is so much wrong here that I don't know where to start. First, your Grandma must be 82, that fits into the six percent RMD, not MRD--it is required minimum distribution. And perhaps Grandma paid taxes, but she sure didn't pay taxes on a penny of 300 grand in her IRA, that is why she has to take an RMD, so the government can finally get some taxes on all that income Grandma socked away. In fact, that is the only income tax Grandma has to pay because she has not hit the threshold where Social Security Income is taxed, that is $25,000. But Grandma gets the standard deduction, $12,550 for 2021. So she pays taxes on whopping $5,450, that is a sum total of $545 on FORTY THREE GRAND worth of income. something like a marginal tax rate of 1.2%

Grandma is not subsidizing anyone. Matter of fact, the person you are complaining about is paying Grandma's Social Security check, paying three fourths of Grandma's Medicare Part B premium, and three fourths of Grandma's Medicare drug plan. Not only does he have four kids to raise and a wife support, he has to carry Grandma on his back, and yet she has three times his annual income sitting in the bank that she has not paid two cents in taxes on. Welcome to the real world.

The government should not have spent Grandma's money, this is a government program that grandma paid into most of her life and the government told her they would pay her every month she is alive after she retires. It is a trust fund that the government designed and implemented. As far as retirement accounts, our Congress designed IRA's and other retirement funds to be deferred, so why blame grandma for taking advantage of a government programs?

The family with four kids, decided to have four kids, they decided that mom should stay home. Maybe they should not of had kids if it was going to be a big burden, they could have aborted them, and they instead chose to have them, again they made lots of decisions to put them where they are at. The tax credits were a temporary fix to a pandemic and never meant to be permanent, the fact that we are coming out of a pandemic, the influx of government should slow and then go away to bring inflation under control and keep interest rates down, which should benefit the family.

 

[Lisa558]

The government should not have spent Grandma's money, this is a government program that grandma paid into most of her life and the government told her they would pay her every month she is alive after she retires. It is a trust fund that the government designed and implemented. As far as retirement accounts, our Congress designed IRA's and other retirement funds to be deferred, so why blame grandma for taking advantage of a government programs?

The family with four kids, decided to have four kids, they decided that mom should stay home. Maybe they should not of had kids if it was going to be a big burden, they could have aborted them, and they instead chose to have them, again they made lots of decisions to put them where they are at. The tax credits were a temporary fix to a pandemic and never meant to be permanent, the fact that we are coming out of a pandemic, the influx of government should slow and then go away to bring inflation under control and keep interest rates down, which should benefit the family.

Thank you.

Also, there is a liberal on this forum who had six kids he could not afford to support on his salary alone (or at least in the fashion he felt entitled to), and rather than his wife getting a job to help support the family (or lower their standard of living), he decided to claim welfare-type benefits to augment the family income. I am waiting to hear if the leftist we are debating, who is annoyed with Grandma with a modest income while defending the $150k family for getting government assistance, is that same liberal.

 

[Winston]

Your mistake is that you are looking at Grandma’s situation NOW and ignoring the fact that she paid taxes for 40 years, also raising a family, and without the tons of free money being given to families now - while the affluent family is now going to get off Scott-free, with no taxes at all because…..four kids they claim they can’t support without help.

So yes, now Grandma is benefitting from the decade, after decade, after decade, after decade in which she raised her family AND paid taxes all those years. She has earned a bit of a break after her long history of contributing to society and taxes - AND that was the agreement!

The well-off family, on the other hand, hasn’t paid taxes for all the decades Grandma has, and now, out of the blue, they are getting a cash windfall. They haven’t earned it, nor was there any type of agreement. Liberals just decided if they gave money to affluent families, or told them they don’t have to pay taxes, they would vote for Dems.

I myself am retired, and my tax liability has dropped by 75%. The only reason I owe ANY tax is because I saved into my IRA (and later a SEP), and I now must withdraw some (I’m too young to have an RMD, but I can’t live on SS alone), but is still incredible that liberals like you - who always claim to be for the people with minimal incomes - are saying affluent families should get the windfall of $1000+ a month, while Granny - who contributed a lifetime of taxes - should continue to pay tax and be happy with her $80 a month SS increase.

Look, I don't know what you can't understand about Grandma not having paid a dime in taxes on that three hundred grand, which is the only source of her less than 1.2% tax liability. Your initial complaint was that this Grandma, and her 1.2% marginal tax rate was subsidizing the family in the OP. Guess now you have abandoned that since it has been shown to be sheer horseshit and just started pounding the unfair drum. So boomer of you.

Look, Grandma is 82. She didn't pay jackshit in taxes. And she sure as hell doesn't pay it now. Through most of her career she paid HALF, got that HALF, the tax rate for Social Security. And with 300 grand in an IRA, she probably capped out year after year further decreasing her marginal tax rate for Social Security. Now that provides the bulk of her income. We already know she paid no taxes on the 300 grand. I believe it is safe to say that, counting Social Security taxes, which the couple in the OP pay from dollar one, that couple pays more in a year in taxes than Grandma ever paid in five.

But like I said, so Boomer of you. Your grandparents probably never had the luxury that was Medicare, it started in 1966. But did you ever hear of them bitching about how unfair that was? No, they dutifully stepped forward and paid their taxes and didn't whine and cry like little bitches about how unfair it was. Unlike you, they wanted future generations to have greater opportunities than they did. You are just another self-absorbed boomer that thinks the entire world revolves around you. I got news for you, it doesn't, it revolves around our children. They are your future, even if you are so self-absorbed that you don't have any, which I suspect is the case.

 

[Indeependent]

Look, I don't know what you can't understand about Grandma not having paid a dime in taxes on that three hundred grand, which is the only source of her less than 1.2% tax liability. Your initial complaint was that this Grandma, and her 1.2% marginal tax rate was subsidizing the family in the OP. Guess now you have abandoned that since it has been shown to be sheer horseshit and just started pounding the unfair drum. So boomer of you.

Look, Grandma is 82. She didn't pay jackshit in taxes. And she sure as hell doesn't pay it now. Through most of her career she paid HALF, got that HALF, the tax rate for Social Security. And with 300 grand in an IRA, she probably capped out year after year further decreasing her marginal tax rate for Social Security. Now that provides the bulk of her income. We already know she paid no taxes on the 300 grand. I believe it is safe to say that, counting Social Security taxes, which the couple in the OP pay from dollar one, that couple pays more in a year in taxes than Grandma ever paid in five.

But like I said, so Boomer of you. Your grandparents probably never had the luxury that was Medicare, it started in 1966. But did you ever hear of them bitching about how unfair that was? No, they dutifully stepped forward and paid their taxes and didn't whine and cry like little bitches about how unfair it was. Unlike you, they wanted future generations to have greater opportunities than they did. You are just another self-absorbed boomer that thinks the entire world revolves around you. I got news for you, it doesn't, it revolves around our children. They are your future, even if you are so self-absorbed that you don't have any, which I suspect is the case.

$300,000.00 over 40 years?

 

[Lisa558]

Look, I don't know what you can't understand about Grandma not having paid a dime in taxes on that three hundred grand, which is the only source of her less than 1.2% tax liability. Your initial complaint was that this Grandma, and her 1.2% marginal tax rate was subsidizing the family in the OP. Guess now you have abandoned that since it has been shown to be sheer horseshit and just started pounding the unfair drum. So boomer of you.

Look, Grandma is 82. She didn't pay jackshit in taxes. And she sure as hell doesn't pay it now. Through most of her career she paid HALF, got that HALF, the tax rate for Social Security. And with 300 grand in an IRA, she probably capped out year after year further decreasing her marginal tax rate for Social Security. Now that provides the bulk of her income. We already know she paid no taxes on the 300 grand. I believe it is safe to say that, counting Social Security taxes, which the couple in the OP pay from dollar one, that couple pays more in a year in taxes than Grandma ever paid in five.

But like I said, so Boomer of you. Your grandparents probably never had the luxury that was Medicare, it started in 1966. But did you ever hear of them bitching about how unfair that was? No, they dutifully stepped forward and paid their taxes and didn't whine and cry like little bitches about how unfair it was. Unlike you, they wanted future generations to have greater opportunities than they did. You are just another self-absorbed boomer that thinks the entire world revolves around you. I got news for you, it doesn't, it revolves around our children. They are your future, even if you are so self-absorbed that you don't have any, which I suspect is the case.

And you are another entitled, self-righteous liberal millennial, or younger, who resents hard-working boomers who have finally earned their retirement, arguing for giveaways to affluent families NOW that will put an in bearable strain on the children of today, and those not yet born. Shame on you.

And what a nasty put-down: “so boomer of me.” I say it’s so entitled millennial of YOU to think a $150,000 young family should get government assistance while spewing your resentment toward the elderly.

 

[Indeependent]

And you are another entitled, self-righteous liberal millennial, or younger, who resents hard-working boomers who have finally earned their retirement, arguing for giveaways to affluent families NOW that will put an in bearable strain on the children of today, and those not yet born. Shame on you.

Is this your introduction to Winston?

 

[Lisa558]

Look, I don't know what you can't understand about Grandma not having paid a dime in taxes on that three hundred grand, which is the only source of her less than 1.2% tax liability. Your initial complaint was that this Grandma, and her 1.2% marginal tax rate was subsidizing the family in the OP. Guess now you have abandoned that since it has been shown to be sheer horseshit and just started pounding the unfair drum. So boomer of you.

Look, Grandma is 82. She didn't pay jackshit in taxes. And she sure as hell doesn't pay it now. Through most of her career she paid HALF, got that HALF, the tax rate for Social Security. And with 300 grand in an IRA, she probably capped out year after year further decreasing her marginal tax rate for Social Security. Now that provides the bulk of her income. We already know she paid no taxes on the 300 grand. I believe it is safe to say that, counting Social Security taxes, which the couple in the OP pay from dollar one, that couple pays more in a year in taxes than Grandma ever paid in five.

But like I said, so Boomer of you. Your grandparents probably never had the luxury that was Medicare, it started in 1966. But did you ever hear of them bitching about how unfair that was? No, they dutifully stepped forward and paid their taxes and didn't whine and cry like little bitches about how unfair it was. Unlike you, they wanted future generations to have greater opportunities than they did. You are just another self-absorbed boomer that thinks the entire world revolves around you. I got news for you, it doesn't, it revolves around our children. They are your future, even if you are so self-absorbed that you don't have any, which I suspect is the case.

….and continuing, you say that my grandparents didn’t bitch about how unfair it was - no Medicare and whatnot. (Actually, I’m young enough that my grandparents did have Medicare, but I’ll,go with your point.)

Do you not see your own hypocrisy here? MY parents, who never earned $100,000 yearly, didn’t bitch and complain that they needed government help to support their family. But now we have YOUR generation defending a $150,000 family’s “deserving” of government assistance.

And you didn’t answer my question. Are you the same liberal who had six kids, and then went on government assistance programs so your wife wouldn’t have to work and help support your own family? You were OK taking money from other people - those who limited themselves to two kids they could afford - to pay for the large family you had?

 

[Lisa558]

Is this your introduction to Winston?

Yes, pretty much the last week or so. Is he operating under more than one name? Because there sure are a lot of liberal millennials, or Gen X maybe, who hold the elderly in contempt.

 

[Winston]

What individual in the OP? We have already established he is a software architect earning six fogures.

And if you are talking about me, where did I ever say that I had an $18k income?

It‘s impossible to debate with radical leftists when they jump to all sorts of false assumptions.

You provided an example of a retired single individual with two grand a month in social security and $18,000 a year from a RMD, although you ignorantly claimed it was a MRD, from a $300,000 IRA. I immediately pegged that as an 82 year old woman, since 6% is the RMD for an 82 year old, and calculated their tax liability because, well I do this shit for a living. I calculated that they paid less than $550 in income taxes on that forty grand a year income. Again, because that is what I do for a living. So there are no false assumptions there, sorry you can't keep up.

But I got to tell you, I have pulled back from the retirement planning I used to do twenty years ago. Mostly because of the ignorance, and selfishness, of boomers. I have regrouped and now target Millenials, because, to be blunt, they have a hell of a lot more sense. The classic story, I stroll into this couple's house for a retirement planning session. They are bitching and moaning about the younger generation, how they don't want to work and have everything handed to them. About how they busted their ass and earned everything they have. So, I start going over their assets. The first is their home. Oh, they got that as a wedding present from their parents. Then there is their IRA, oh, that was inherited from their parents. At that point I stood up and told them, "I can't work with you", and walked out. You seem to fit the mold. Generations before you sacrificed greatly so that you could have the opportunities that you enjoy, and you take that for granted, as if you did it "all by yourself". And it has been successful, because the Boomers are going to have the sole distinction of leaving the next generation worse off than them, something no other generation in the history of this country has ever done. Me, I will fight like hell to turn that around, and I have complete confidence that the following generations are a little less self-absorbed than the Boomers.

 

[Indeependent]

Yes, pretty much the last week or so. Is he operating under more than one name? Because there sure are a lot of liberal millennials, or Gen X maybe, who hold the elderly in contempt.

Just another LibBot.

 

[Lisa558]

You provided an example of a retired single individual with two grand a month in social security and $18,000 a year from a RMD, although you ignorantly claimed it was a MRD, from a $300,000 IRA. I immediately pegged that as an 82 year old woman, since 6% is the RMD for an 82 year old, and calculated their tax liability because, well I do this shit for a living. I calculated that they paid less than $550 in income taxes on that forty grand a year income. Again, because that is what I do for a living. So there are no false assumptions there, sorry you can't keep up.

But I got to tell you, I have pulled back from the retirement planning I used to do twenty years ago. Mostly because of the ignorance, and selfishness, of boomers. I have regrouped and now target Millenials, because, to be blunt, they have a hell of a lot more sense. The classic story, I stroll into this couple's house for a retirement planning session. They are bitching and moaning about the younger generation, how they don't want to work and have everything handed to them. About how they busted their ass and earned everything they have. So, I start going over their assets. The first is their home. Oh, they got that as a wedding present from their parents. Then there is their IRA, oh, that was inherited from their parents. At that point I stood up and told them, "I can't work with you", and walked out. You seem to fit the mold. Generations before you sacrificed greatly so that you could have the opportunities that you enjoy, and you take that for granted, as if you did it "all by yourself". And it has been successful, because the Boomers are going to have the sole distinction of leaving the next generation worse off than them, something no other generation in the history of this country has ever done. Me, I will fight like hell to turn that around, and I have complete confidence that the following generations are a little less self-absorbed than the Boomers.

I only skimmed your rant, but enough to see that you don’t work with Boomers any more. Thank G-d. That would be like a Hitler type “helping” Jews plan their retirement.

But remember, you angry, entitled Gen Xer: One day YOU will be old, and the generation now children, whom you will have saddled with an unbearable burden due to your greediness, will have the same low opinion of you.

 

[Lisa558]

Just another LibBot.

Yeah, I think I just posted my last reply to him. He’s getting more and more self-righteous and obnoxious with each post. It’s unreal how he doesn’t see how his policies are saddling children with a horrible burden while making that very complaint of boomers!

 

[Indeependent]

You provided an example of a retired single individual with two grand a month in social security and $18,000 a year from a RMD, although you ignorantly claimed it was a MRD, from a $300,000 IRA. I immediately pegged that as an 82 year old woman, since 6% is the RMD for an 82 year old, and calculated their tax liability because, well I do this shit for a living. I calculated that they paid less than $550 in income taxes on that forty grand a year income. Again, because that is what I do for a living. So there are no false assumptions there, sorry you can't keep up.

But I got to tell you, I have pulled back from the retirement planning I used to do twenty years ago. Mostly because of the ignorance, and selfishness, of boomers. I have regrouped and now target Millenials, because, to be blunt, they have a hell of a lot more sense. The classic story, I stroll into this couple's house for a retirement planning session. They are bitching and moaning about the younger generation, how they don't want to work and have everything handed to them. About how they busted their ass and earned everything they have. So, I start going over their assets. The first is their home. Oh, they got that as a wedding present from their parents. Then there is their IRA, oh, that was inherited from their parents. At that point I stood up and told them, "I can't work with you", and walked out. You seem to fit the mold. Generations before you sacrificed greatly so that you could have the opportunities that you enjoy, and you take that for granted, as if you did it "all by yourself". And it has been successful, because the Boomers are going to have the sole distinction of leaving the next generation worse off than them, something no other generation in the history of this country has ever done. Me, I will fight like hell to turn that around, and I have complete confidence that the following generations are a little less self-absorbed than the Boomers.

Millennials have more sense?!
You really are psychotic!
Anyone with sense lacking a hard science degree wouldn’t write code for a living.
When the fed raises the rate in March, lots of coders will be laid off from startups and will lack any real skills to make the same money ever again.