CloverKnollFarms
Super Member
I have not nor never will get to that level of income.
They doubled our pay my last few years at work... This farm kid was living a dream
How are your investments doing?
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They doubled our pay my last few years at work... This farm kid was living a dream
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The last time I was around that dream, I'd just opened the fuel door under a 727 wing, the fuel cap popped off, and jet fuel poured into my eyes. I wondered off holding my eyes reaching for help. No one could hear me screaming above the noise of the APU. When I finally got one eye open, I was 100' off the starboard wing, so I turned around and staggered back until I could find someone to take me to the hospital.
(eyes are find, jet fuel stinks)
Torvy
Super Member
Sigh. The greater percentage thing is a red herring. Those same people get public funds that more than offset anything they would pay.
The flat tax still does nothing to tax those who are paid illegally, or who are freeriders. The US is one of only a handful of countries without a sales tax nationally. We get almost nothing from tourists or resident aliens (except those who are working). Something like 12% of GDP happens in the underground economy.
Easy fix for socsec is to put all of it into IRA/401k style accounts. No early withdrawal and only a few very broad plans available. I did the math. Even someone who only made the Fed minimum would be set. That also gets Congress' hand out of people's retirement...it is no longer a budget item and stops being a wedge to drive between generations.
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This is the mantra of folks that don't want to pay the same percentage of taxes as poor people with no cap. It's been that way since I was a kid.
Similar to the argument about why should my tax dollars go toward public education when I don't have any children.
grsthegreat
Super Star Member
Dont get me started on school taxes. I believe those with more kids should pay more than those with no kids. Ill never believe differently.
NorTracNY
Platinum Member
I hear you, even as one who has kids, but I don't have an easy solution. It's in the countries best interest to have an educated public. We can ignore if what we have is actually education. The cost of schooling has been mandated to be ridiculously high. IF those with kids that were actually going to school were the ones paying, most would not be able to afford to send them. In NYS, you'd be looking at over $20K/yr/child. That would quickly result in public schools collapsing inside of a year.
I'd rather focus on correcting the schools so the cost was appropriate. There are way too many mandates. I actually had to get a teaching license to volunteer to support a sports program! I believe that there is too great of a spread in the ability of teachers, 10% should be fired and over 10% should be given a raise. Most administration should be eliminated. The administration that is left should support teachers and teach kids the foreign concept of consequences.
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I believe people should know what it's going to cost to raise a bunch of kids well before they hop into the back seat of a car..... but that'll never happen.
I'd also rather have educated kids with a chance for success than angry, uneducated, hungry kids running around turning into angry, uneducated, hungry adults.
One thing that seems to get lost often in these types of conversations is the kids didn't ask to be put in those situations. We, as a society, shouldn't punish them for the mistakes/poor choices of their parents.
Fuddyduddy1952
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Anyone who doesn't believe we live in a socialist system needs to understand IRMAA.
Regardless of what one pays into social security what you recieve is based upon one's AGI. So the higher the AGI, the less you receive based on IRMAA deduction.
My wife & I worked starting at age 15. We both started SS at 62 based on statistics from several consultants (the 'turn over' age is about 83, meaning if you're sure you'll live past 84, you should take SS later which doesn't account for reinvesting SS payments.
No way could we survive on our SS it's such a pittance.
Beyond that, who purchases more...the wealthy or the poor?
Very appropriate song 56 years ago:
Regardless of what one pays into social security what you recieve is based upon one's AGI. So the higher the AGI, the less you receive based on IRMAA deduction.
My wife & I worked starting at age 15. We both started SS at 62 based on statistics from several consultants (the 'turn over' age is about 83, meaning if you're sure you'll live past 84, you should take SS later which doesn't account for reinvesting SS payments.
No way could we survive on our SS it's such a pittance.
Beyond that, who purchases more...the wealthy or the poor?
Very appropriate song 56 years ago:
Oaktree
Super Member
I don't have any kids (that I know of), but I don't have a problem with paying my share of education costs. Every dollar of my share that I don't pay gets put onto someone else. Raising a child is expensive, why add to parents' burden more than you have to. The only thing that kind of frosts me is the attitude many school boards have is "you don't have any kids in school, your opinion on what we do doesnt' matter". Bull. Almost 70% of my property taxes go towards schools, yeah it DOES matter.
Maybe it's due to having lived most of my life in a state that has no sales tax, but I HATE!! sales taxes. It's relatively nickel and dime per transaction, but it adds up over the course of the year. I'd rather see on large bill (whether income or property) which lets me clearly see just how much the government is picking from my pocket. They also make it easy for the powers that be to sneak in an increase without many noticing it.
Now maybe you keep a spreadsheet and log the sales tax every time you buy something, but most people don't. I like being able to buy something and know the stickered price is what I'll pay.
I've noticed a lot of states with relatively low property taxes have sales taxes that approach or even surpass 10%. That's a LOT of money!! Every few years someone in the state legislature floats the idea of implementing one for "property tax relief". I call BS on that...they might go down a little for a while, but you know they're gonna creep right back up, and we'll just be paying in more.
</rant>
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Many years ago someone I knew was running for the local school board. We got to talking and I mentioned I really didn't have any dog in that fight, as our kids don't go to public schools. His reply?
"Yes, but your tax dollars do."
He had a very good point and from that point on I paid more attention to how the local public schools are run.