Taxation in America

[jc456]

kyzr, you're off base son. most everyone's 401k is subject to capital gains. Everyone's. so if you raise the capital gains, you raise it on the middle class. son, I wish all of you would shut the fk up. you have no idea what you're talking about. shut up!

I'm way older than you kiddo. So tell me what happens if the budget deficit keeps growing and the $23T Debt goes to $30T?
Factor in that Medicare will be bankrupt in 2026 and Social Security insolvent in 2032.
Your solution is "O'wise One"???

what no one wants to be done. Cut SS let the folks under 55 invest their money in their 401ks and stop taking their money. Let the bank dry up on us over 64 that paid in for all their working years. medicare, stop it. pull the plug. Allow the doctors to control spending by posting their fees.

Stop all welfare to poor and let the charities take back over handing out the charitable items that most americans actually give to. fk the government. fk a bernie fk.

People standing at a podium and telling me I'm the bad guy cause I work and pay my bills, I accept as a challenge to spit in their face. But they're weak and avoid the populace and hide in their cars and in DC. Trump exposed every one of these fks.

What charity is going to pay for a $700,000 surgery for one elderly person? Social Security can be phased out, but voters would object. GW tried doing it by allowing people to take a small percentage of their contributions, and invest it in their own retirement account. Never happened. 55 years old? If you currently don't have an IRA, 55 years old would be too late to start one for most blue collar workers.

why is it 700,000 dollars for the surgery? why isn't there competition for that surgery. Come on man, don't stick your head in the sand like the left! no way should it cost anything near 10k. List the costs, let's see how to bring the costs down. I picked 55 because you have to pick a point. I'm 64 still working. I'm not collecting SS, yet I paid in since I was 16. You think I'm going to live long enough to recoup my money? nope. No one will today. Let's be a responsible society. why let the swamp control us?

Most blue collar workers who pay into SS their entire lives, and live to the average lifespan in the US, will collect all their money back and then some. You have to pay people big bucks to spend many years in college for a job. Some surgeons pay over 100K just for malpractice insurance. An anesthesiologist is something like 180K in malpractice depending on where they are at. People spend money for college which is expensive, 10 of the best years of their life to do these jobs. You can't pay them 80K a year to do it. Even nurses have to carry malpractice coverage.

So they have to make great money to go through all this.

TORT, yep. TORT. Now you're talking. I've stated that all in here in the past. TORT. My first wife was a diabetic, and she gave birth to my daughter, the doctor that cared for her, refused her the next pregnancy in the eighties, due to the insurance implications and suits. I have always vowed, that I will fight for the end to this injustice. My wife never had another successful pregnancy. failed twice. Poor doctoring. I have personal experience in this shit. Want to know why costs are high, look no further than there.

 

[Slade3200]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

kyzr, you're off base son. most everyone's 401k is subject to capital gains. Everyone's. so if you raise the capital gains, you raise it on the middle class. son, I wish all of you would shut the fk up. you have no idea what you're talking about. shut up!

I'm way older than you kiddo. So tell me what happens if the budget deficit keeps growing and the $23T Debt goes to $30T?
Factor in that Medicare will be bankrupt in 2026 and Social Security insolvent in 2032.
Your solution is "O'wise One"???

Please correct me if I’m wrong but as long as the population is growing and GDP growing then it makes sense for the debt to grow as well. Right?

No. Not right. As the Debt grows the interest on the Debt grows, just like only making minimum payments on your Visa bill.
Now the interest on the $23T Debt is about $450b a year. As the Debt grows to $30T and as interest rates eventually rise that interest will consume way too much of the Budget and drastic cuts will need to be made.

GDP doesn't always grow. Recessions happen now and then.
In simple terms its much better to have no Visa balance and no interest payments than to only be able to keep paying interest and not gaining on it.

One solution I heard was a "Convention of States" to force a Balanced Budget Amendment to keep the DC coxuckers from overspending.

Ok, but our national debt is very different than a credit card. Interest on debt amounts

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

kyzr, you're off base son. most everyone's 401k is subject to capital gains. Everyone's. so if you raise the capital gains, you raise it on the middle class. son, I wish all of you would shut the fk up. you have no idea what you're talking about. shut up!

I'm way older than you kiddo. So tell me what happens if the budget deficit keeps growing and the $23T Debt goes to $30T?
Factor in that Medicare will be bankrupt in 2026 and Social Security insolvent in 2032.
Your solution is "O'wise One"???

Please correct me if I’m wrong but as long as the population is growing and GDP growing then it makes sense for the debt to grow as well. Right?

No. Not right. As the Debt grows the interest on the Debt grows, just like only making minimum payments on your Visa bill.
Now the interest on the $23T Debt is about $450b a year. As the Debt grows to $30T and as interest rates eventually rise that interest will consume way too much of the Budget and drastic cuts will need to be made.

GDP doesn't always grow. Recessions happen now and then.
In simple terms its much better to have no Visa balance and no interest payments than to only be able to keep paying interest and not gaining on it.

One solution I heard was a "Convention of States" to force a Balanced Budget Amendment to keep the DC coxuckers from overspending.

Our national debt is nothing like a credit card debt. It is the mechanism in which we manage our economy and sovereign currency. The debt that we owe is largely owed to us the public (citizens, businesses, and banks) through treasury bills and bonds. If we paid it all back at once then we would be injecting Trillions of dollars back into our own Economy and inflation would wipe us out. Its a game of monopoly based on borrowing and spending.... Yes very different than a household budget or credit card bill. If you're thinking of it as a Visa bill then I suggest you do a little more research on what the national debt actually is.

 

[Ray From Cleveland]

And what happens when interest rates increase...

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

 

[kyzr]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

The market is a creepy place. Look at the last two days...

The markets go up and down. If you're young keep putting money in and you will be rewarded when you retire.
Stay diversified and don't fall for gimmicks.
The market dropped because no one knows how the coronavirus will affect earnings.

 

[Ray From Cleveland]

I'm way older than you kiddo. So tell me what happens if the budget deficit keeps growing and the $23T Debt goes to $30T?
Factor in that Medicare will be bankrupt in 2026 and Social Security insolvent in 2032.
Your solution is "O'wise One"???

what no one wants to be done. Cut SS let the folks under 55 invest their money in their 401ks and stop taking their money. Let the bank dry up on us over 64 that paid in for all their working years. medicare, stop it. pull the plug. Allow the doctors to control spending by posting their fees.

Stop all welfare to poor and let the charities take back over handing out the charitable items that most americans actually give to. fk the government. fk a bernie fk.

People standing at a podium and telling me I'm the bad guy cause I work and pay my bills, I accept as a challenge to spit in their face. But they're weak and avoid the populace and hide in their cars and in DC. Trump exposed every one of these fks.

What charity is going to pay for a $700,000 surgery for one elderly person? Social Security can be phased out, but voters would object. GW tried doing it by allowing people to take a small percentage of their contributions, and invest it in their own retirement account. Never happened. 55 years old? If you currently don't have an IRA, 55 years old would be too late to start one for most blue collar workers.

why is it 700,000 dollars for the surgery? why isn't there competition for that surgery. Come on man, don't stick your head in the sand like the left! no way should it cost anything near 10k. List the costs, let's see how to bring the costs down. I picked 55 because you have to pick a point. I'm 64 still working. I'm not collecting SS, yet I paid in since I was 16. You think I'm going to live long enough to recoup my money? nope. No one will today. Let's be a responsible society. why let the swamp control us?

Most blue collar workers who pay into SS their entire lives, and live to the average lifespan in the US, will collect all their money back and then some. You have to pay people big bucks to spend many years in college for a job. Some surgeons pay over 100K just for malpractice insurance. An anesthesiologist is something like 180K in malpractice depending on where they are at. People spend money for college which is expensive, 10 of the best years of their life to do these jobs. You can't pay them 80K a year to do it. Even nurses have to carry malpractice coverage.

So they have to make great money to go through all this.

TARP, yep. TARP. Now you're talking. I've stated that all in here in the past. TARP. My first wife was a diabetic, and she gave birth to my daughter, the doctor that cared for her, refused her the next pregnancy in the eighties, due to the insurance implications and suits. I have always vowed, that I will fight for the end to this injustice. My wife never had another successful pregnancy. failed twice. Poor doctoring. I have personal experience in this shit. Want to know why costs are high, look no further than there.

Actual claims are not as much of a problem as phony claims. There is not much in the way of lawsuit payout, it's the cost fighting these cases in court that ups the insurance costs. That's why Tort Reform does very little. How much a person gets from a lawsuit is not the real problem.

 

[Brain357]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

The market is a creepy place. Look at the last two days...

The markets go up and down. If you're young keep putting money in and you will be rewarded when you retire.
Stay diversified and don't fall for gimmicks.
The market dropped because no one knows how the coronavirus will affect earnings.

And it goes up and down based on trump tweets. Guy has no doubt made many friends richer with his games. It’s a creepy place.

 

[gipper]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

You didn’t watch the video and don’t want the truth.

Our tax system isn’t progressive. It’s nearly flat, as the video points out. The poorest Americans pay as much of their income as a percentage as the wealthy. I think that’s wrong.

The extreme wealthy, the 1%, pay a lower rate than the poor and middle class.

This shouldn’t surprise anyone, since the wealthy control the government. They make the tax code and most other things Uncle Sam does, benefit them.

 

[jc456]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

I have seen on the local tv news, those who worked in one government job, got their pension, went to another government job and got another. There are those that have three or more pensions. And I mean hundreds of thousands each. Can't make it up. And the joe schmoes, do their Gomer impersonations. they are clueless. it's so fking frustrating the stupid out there.

 

[kyzr]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

People that retire from the military do that too, retire young with a nice pension and then start a new career.
I don't support government bureaucrats getting lavish pensions.
I'm okay with military retirement pensions because they didn't get lavish pay.

 

[Ray From Cleveland]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

The market is a creepy place. Look at the last two days...

The markets go up and down. If you're young keep putting money in and you will be rewarded when you retire.
Stay diversified and don't fall for gimmicks.
The market dropped because no one knows how the coronavirus will affect earnings.

Our IRS is with a reputable investment company. They not only survived the great recession, but used it to our advantage. That's the real way to go.

 

[jc456]

what no one wants to be done. Cut SS let the folks under 55 invest their money in their 401ks and stop taking their money. Let the bank dry up on us over 64 that paid in for all their working years. medicare, stop it. pull the plug. Allow the doctors to control spending by posting their fees.

Stop all welfare to poor and let the charities take back over handing out the charitable items that most americans actually give to. fk the government. fk a bernie fk.

People standing at a podium and telling me I'm the bad guy cause I work and pay my bills, I accept as a challenge to spit in their face. But they're weak and avoid the populace and hide in their cars and in DC. Trump exposed every one of these fks.

What charity is going to pay for a $700,000 surgery for one elderly person? Social Security can be phased out, but voters would object. GW tried doing it by allowing people to take a small percentage of their contributions, and invest it in their own retirement account. Never happened. 55 years old? If you currently don't have an IRA, 55 years old would be too late to start one for most blue collar workers.

why is it 700,000 dollars for the surgery? why isn't there competition for that surgery. Come on man, don't stick your head in the sand like the left! no way should it cost anything near 10k. List the costs, let's see how to bring the costs down. I picked 55 because you have to pick a point. I'm 64 still working. I'm not collecting SS, yet I paid in since I was 16. You think I'm going to live long enough to recoup my money? nope. No one will today. Let's be a responsible society. why let the swamp control us?

Most blue collar workers who pay into SS their entire lives, and live to the average lifespan in the US, will collect all their money back and then some. You have to pay people big bucks to spend many years in college for a job. Some surgeons pay over 100K just for malpractice insurance. An anesthesiologist is something like 180K in malpractice depending on where they are at. People spend money for college which is expensive, 10 of the best years of their life to do these jobs. You can't pay them 80K a year to do it. Even nurses have to carry malpractice coverage.

So they have to make great money to go through all this.

TARP, yep. TARP. Now you're talking. I've stated that all in here in the past. TARP. My first wife was a diabetic, and she gave birth to my daughter, the doctor that cared for her, refused her the next pregnancy in the eighties, due to the insurance implications and suits. I have always vowed, that I will fight for the end to this injustice. My wife never had another successful pregnancy. failed twice. Poor doctoring. I have personal experience in this shit. Want to know why costs are high, look no further than there.

Actual claims are not as much of a problem as phony claims. There is not much in the way of lawsuit payout, it's the cost fighting these cases in court that ups the insurance costs. That's why Tort Reform does very little. How much a person gets from a lawsuit is not the real problem.

no it's the cost of the policy to stop someone and the court costs. Lawyers wouldn't exist in the manner they do today if not for this. stupid.

 

[Ray From Cleveland]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

People that retire from the military do that too, retire young with a nice pension and then start a new career.
I don't support government bureaucrats getting lavish pensions.
I'm okay with military retirement pensions because they didn't get lavish pay.

Military is different. You join at 18 and retire at 38. Those vets deserve anything we can give them.

 

[Brain357]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

I have seen on the local tv news, those who worked in one government job, got their pension, went to another government job and got another. There are those that have three or more pensions. And I mean hundreds of thousands each. Can't make it up. And the joe schmoes, do their Gomer impersonations. they are clueless. it's so fking frustrating the stupid out there.

Corruption.

 

[jc456]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

The market is a creepy place. Look at the last two days...

The markets go up and down. If you're young keep putting money in and you will be rewarded when you retire.
Stay diversified and don't fall for gimmicks.
The market dropped because no one knows how the coronavirus will affect earnings.

And it goes up and down based on trump tweets. Guy has no doubt made many friends richer with his games. It’s a creepy place.

jealous I see. invest more.

 

[jc456]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

I have seen on the local tv news, those who worked in one government job, got their pension, went to another government job and got another. There are those that have three or more pensions. And I mean hundreds of thousands each. Can't make it up. And the joe schmoes, do their Gomer impersonations. they are clueless. it's so fking frustrating the stupid out there.

Corruption.

as long as people vote them in office, we get the likes of Bernie.

 

[gipper]

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

You don’t know what you’re talking about.

The 1% pay the least in income tax and they don’t support Bernie. BOOM! Down goes DGS49. Down he goes.

Before posting in my thread again, get informed.

 

[Brain357]

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

The market is a creepy place. Look at the last two days...

The markets go up and down. If you're young keep putting money in and you will be rewarded when you retire.
Stay diversified and don't fall for gimmicks.
The market dropped because no one knows how the coronavirus will affect earnings.

And it goes up and down based on trump tweets. Guy has no doubt made many friends richer with his games. It’s a creepy place.

jealous I see. invest more.

Jealous of corruption? You approve of market manipulation?

 

[Ray From Cleveland]

What charity is going to pay for a $700,000 surgery for one elderly person? Social Security can be phased out, but voters would object. GW tried doing it by allowing people to take a small percentage of their contributions, and invest it in their own retirement account. Never happened. 55 years old? If you currently don't have an IRA, 55 years old would be too late to start one for most blue collar workers.

why is it 700,000 dollars for the surgery? why isn't there competition for that surgery. Come on man, don't stick your head in the sand like the left! no way should it cost anything near 10k. List the costs, let's see how to bring the costs down. I picked 55 because you have to pick a point. I'm 64 still working. I'm not collecting SS, yet I paid in since I was 16. You think I'm going to live long enough to recoup my money? nope. No one will today. Let's be a responsible society. why let the swamp control us?

Most blue collar workers who pay into SS their entire lives, and live to the average lifespan in the US, will collect all their money back and then some. You have to pay people big bucks to spend many years in college for a job. Some surgeons pay over 100K just for malpractice insurance. An anesthesiologist is something like 180K in malpractice depending on where they are at. People spend money for college which is expensive, 10 of the best years of their life to do these jobs. You can't pay them 80K a year to do it. Even nurses have to carry malpractice coverage.

So they have to make great money to go through all this.

TARP, yep. TARP. Now you're talking. I've stated that all in here in the past. TARP. My first wife was a diabetic, and she gave birth to my daughter, the doctor that cared for her, refused her the next pregnancy in the eighties, due to the insurance implications and suits. I have always vowed, that I will fight for the end to this injustice. My wife never had another successful pregnancy. failed twice. Poor doctoring. I have personal experience in this shit. Want to know why costs are high, look no further than there.

Actual claims are not as much of a problem as phony claims. There is not much in the way of lawsuit payout, it's the cost fighting these cases in court that ups the insurance costs. That's why Tort Reform does very little. How much a person gets from a lawsuit is not the real problem.

no it's the cost of the policy to stop someone and the court costs. Lawyers wouldn't exist in the manner they do today if not for this. stupid.

All we really need to do to solve that problem is loser pays all law. Sue anybody you like, but if you lose, you are responsible for all costs associated with the person you attempted to sue. That would filter out the phony cases from the real cases.

 

[Brain357]

well let's start there. I agree. Why do we still have pensions. these are what pensions are. get 100 times more than you paid in. Unions. government unions.

YAY!! We agree on limiting pensions anyway.
Most places I worked switched from defined benefit pensions to 401Ks, the government should too.

I worked with several people who retired from government jobs. They retired at the age of 55. They get a nice pension, medical coverage, and still work full-time at our place.

I have seen on the local tv news, those who worked in one government job, got their pension, went to another government job and got another. There are those that have three or more pensions. And I mean hundreds of thousands each. Can't make it up. And the joe schmoes, do their Gomer impersonations. they are clueless. it's so fking frustrating the stupid out there.

Corruption.

as long as people vote them in office, we get the likes of Bernie.

They are all corrupt.
Trump has named more ex-lobbyists to Cabinet in 3 years than Obama, Bush did in full terms: report

 

[Slade3200]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

Our country depends on people investing to support a healthy economy. Increase the capital gains taxes, and people stop investing. That's why capital gains taxes are lower in the first place; to encourage investments.

Agreed but it also needs to be managed correctly. Inflation is roughly at 3% so that's what is lost if you just keep your money in a bank account. Real Estate is about about 4-5% and the market hopefully will yield 5%-15% on investment accounts. This is all good and incentivizes investing over letting your money devalue. The last few years have shown crazy gains upward of 20-30% if you played it right. This is fun and all but not sustainable and it adds volatility to the market. Stability is much preferred over boom or bust when your playing with peoples savings and retirement funds.