How are your investments doing?

[ultrarunner]

But many low income pay little to no taxes in general…

A higher sales tax with no tax on food would cover that essential.

There are so many tax proposals floating around it’s scary.

One is a tax on every package delivered as delivered often means money leaving the community.

Another is the junk food tax and another a fee for using public on street parking by making it permit only.

 

[ultrarunner]

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.

Some do think about consequences and might even be considered selfish when it comes to education tax dollars.

Also, curriculum my encourage ill will and resentment…

Several lifelong friends opted to homeschool and a few had teaching credentials and had experienced public school as teachers and opted out and their kids all over achievers…

Of course public schools are mandated to accept all comers… and I give credit for that especially when large percentages have no or little English.

 

[MossRoad]

But many low income pay little to no taxes in general…

A higher sales tax with no tax on food would cover that essential.

There are so many tax proposals floating around it’s scary.

One is a tax on every package delivered as delivered often means money leaving the community.

Another is the junk food tax and another a fee for using public on street parking by making it permit only.

No one in Indiana pays sales tax on food, rich or poor.

I can't think of any household item, clothing, bedding, toilet paper, toiletries, furniture, anything that does not get sales taxed. Cars, tires, oil, lightbulb, you name it, they are all taxed.

 

[zzvyb6]

Except that my tax bracket has been jumped TWICE and is way over what I was making in my good engineering job. So there's been no 'savings' for me at all.

I would have used it back then to buy some tractors etc. A newer 4020 with a loader and a 4430 cab, HVAC, a 336 baler, 1479 self propelled, just to start with. They would have kept their value, too.
Also I could then wait a few years, apply for SNAP, a Bridge card, get a free phone, and SSI relief. Take Spanish lessons, too. Set for life.

 

[ultrarunner]

Food Shelter Clothing are defined as necessities but transportation, cable tv, cell phones, etc. would not seem to be yet all are offered at large discounts to being less than free based on income.

I have had renter paid to stay in apartments I managed… they were under housed after the birth of twins and 100% of the rent government paid plus they got a check each month for being in a 2 bedroom instead of a 3 bedroom.

A wise person told me the best investment is investing in your mind and body…

Another said into his 90’s… your health is your wealth and was driving and caring for his wife until the last 3 weeks of his life passing at 96… wife passed 2 years later at 95.

He was big on health and being debt free living on a modest pension and social security…

 

[grsthegreat]

idaho has sales tax on food, which i think is way wrong

 

[Torvy]

idaho has sales tax on food, which i think is way wrong

I don't. Why? Any time you add exceptions in taxation, you get cheating and manipulation. No tax on food sounds great. Who decides what is food? Is a coke food? How about candy? Why should taxpayers subsidize foods that aren't nutritious? What about 'luxury' foods like caviar? Vegans might want to say meat should be taxed. Certain religious types might think only pork should be taxed. Maybe we only tax imported foods....needless complexity.

The solution to low income people paying sales taxes is making staples available at social services. Food and clothing. Just the basics.

 

[grsthegreat]

I don't. Why? Any time you add exceptions in taxation, you get cheating and manipulation. No tax on food sounds great. Who decides what is food? Is a coke food? How about candy? Why should taxpayers subsidize foods that aren't nutritious? What about 'luxury' foods like caviar? Vegans might want to say meat should be taxed. Certain religious types might think only pork should be taxed. Maybe we only tax imported foods....needless complexity.

The solution to low income people paying sales taxes is making staples available at social services. Food and clothing. Just the basics.

Hay if you eliminate chocolate from my diet….. that would eliminate half my food…… just saying

 

[Torvy]

Hay if you eliminate chocolate from my diet….. that would eliminate half my food…… just saying

You can still eat it, you just have to pay tax on it like everyone else.

 

[goeduck]

I have two main accounts on the investment side, Vanguard and Fidelity. I am moving Fidelity to Vanguard this month. Results have been almost the same since 2022 and this eliminates fees on both, plus I like the Vanguard advisor much better.