Joe Biden is reportedly 'planning first major tax hike in almost 30 years'

[MadChemist]

Not even the DEAD are safe from Biden's tax increases. Trillions of dollars in tax increases including estate taxes.

What can you post about the estate tax to convince anyone that you do know anything about it.

Uh, it's an ESTATE TAX.

 

[Ray From Cleveland]

Punish?! No I don’t think taxing the rich is punishment. It is a privilege to pay taxes. Means you’re doing pretty well

That's like getting a speeding ticket on the highway that's going to cost you $250.00, and say it's a privilege of driving.

 

[Slade3200]

Punish?! No I don’t think taxing the rich is punishment. It is a privilege to pay taxes. Means you’re doing pretty well

That's like getting a speeding ticket on the highway that's going to cost you $250.00, and say it's a privilege of driving.

Not even close but I appreciate your effort

 

[woodwork201]

Not even the DEAD are safe from Biden's tax increases. Trillions of dollars in tax increases including estate taxes.

This is what BIden does to his own voters - every dead voter voted for Biden.

 

[Blues Man]

Social 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 **** 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 ...

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 everything

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?

 

[Blues Man]

Social 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 **** 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 ...

SS was established for people too stupid to save for their own retirement ...

Agreed.

> "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 ...

You can't math, can you?

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....

After 40 years, one will have $1.26M in savings.

If one saved 15%, one will have $1.85M after 40 years.

Big government messes everything up. Relying upon government to take care of oneself will always fail.

There's a reason the government doesn't want people to own their own Social Security accounts.

 

[SweetTea]

Call me petty but I really do not care if some one making over 400,00 a year has to pass on the custom leather seats for something standard. While every single day you see people in the grocery store passing on there favorite ice cream or meat because it cost more than they can afford in the food budget. When the ratio of the corporation big wigs pay against his average worker is 270 times higher. Time for the people who keep the wheels spinning to get a little help.

Envy is the word, not petty. It has consumed most Democrats in this country and it is not reserved for those making x amount of money. They are envious of anyone making significantly more than them because it isn’t “fair”. Rich is a relative term. Democratic politicians prey on envious and the guilt ridden folks.

 

[MeBelle]

Yeah sure, you ever try to ween white people of freeloading?

Well, I thought we had gotten better than this.

 

[MeBelle]

Most of the big corporations are ran by old white men. I totally support this!!!!

Remember Warren Buffett saying his secretary paid more taxes in a year than he did.

But we're talking about earned income, not billions sitting around in a bank somewhere.

 

[Flash]

I hope you stupid welfare queens enjoy your filthy $1400.

It is going to cost you and/or your children $6,000.

The Mafia gives better payback rates than you are going to get from President Dufus.

 

[WTF19]

We can all thank the stupid Negroes and Democrat Dirty Tricks Department in Georgia for electing two dumbss Communists to the Senate who can enable this nonsense.

You should thank Trump and his doctrine of morons. He lost both houses and the presidency with his BS. The Dems are very grateful

thank xiden and his commie demonRAT cronies. when you find a functional brain, get back to us

 

[Flash]

How come the Democrat's answer to everything is more spending and higher taxes?

They are idiots, aren't they?

 

[22lcidw]

Social 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 **** 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 ...

It does not matter what you spout. The money has been taken from people. The whole system we have is what is "honest money" and what is fiat currency. See all the tricks and games that can be played with it. Magnificent gains can be seen. and as the currency matures and starts to decompose, the decline begins. Lets face the facts as we age....the cost of medical can be millions and millions of dollars on each individual. No insurance in the world can pay for that. This is reality. The taxpayer is on the hook and at some point the debts accrued by a nation will not be affordable for this and many other social programs. Even with the recipient paying the 15 per cent. Progressive politicians have made many times more statements on ending medical for older people. You have not just been paying attention. And they will be more forceful when all of the WW 2 era people have passed on.

 

[Ray From Cleveland]

How come the Democrat's answer to everything is more spending and higher taxes?

They are idiots, aren't they?

More spending and more taxes gives them more control over the people.

 

[Ray From Cleveland]

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 everything

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?

Plus the fact if you pass away before retirement age, your heirs will benefit from all that money. The way the government system is, if you blow out the candles on your birthdcay cake at the age of 67 and drop dead of a heart attack, your family doesn't see one red cent of all that money you and your employers socked away in that account.

 

[Canon Shooter]

he 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...

And that's right where they want them...

 

[ReinyDays]

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 ...

 

[Blues Man]

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 ...

No one lost any money unless they cashed out.

And anyone can look up example portfolios based on their age and retirement status.

The fact that people don't look after their own money is their own fault

 

[colfax_m]

The fact that people don't look after their own money is their own fault

Then why are we always bailing out corporations?

 

[AzogtheDefiler]

Punish?! No I don’t think taxing the rich is punishment. It is a privilege to pay taxes. Means you’re doing pretty well

That's like getting a speeding ticket on the highway that's going to cost you $250.00, and say it's a privilege of driving.

Not even close but I appreciate your effort

More sarcasm from Slate...LOL

He is right