What is your "Debt Free Date"

[riptides]

Typical Liberal. When faced with facts that you don't want to hear, you resort to name calling and then say that everyone does it.

Eddie

Very typical of you of late. Throw the label. It is all the governments fault. It was this policy it was that regulation. It was deregulation. Just cannot see the fact that regular people took advantage of things and got away with it.

 

[MossRoad]

agree 110%

Two years ago i bought a then 3 year old F350 ... used with 27,000 miles on it. It was a 4 door, 4x4, diesel automatic.

They wanted $24,000 but i got it for $16,000 CASH out the door (plus sales tax and lic and insurance though). So heres a 3 year old truck for 16,000 that has the original sales sticker inside the glove box that read $48,500.

So some other schumk wasted 32,000 of their money and i get a nearly new truck with very low mileage for a song.

Except for a transmission temp sensor, the truck has worked flawlessly.

Good for you! Back in 2003 we purchase a 2000 Impala for $12,500. It stickered for $26,000! :shocked:Lost half its value in three years. Had 42,000 miles on it and 2 years, 18,000 miles left on the warranty. That was 8 years and 120,000 miles ago. Showing signs of old age now, but no regrets on that purchase. :thumbsup:

 

[Pilot]

Hey Eddie,

I have generally agreed with your points, but we are all fallible. Each of us has been wrong once or twice--maybe 3 times for me. We're all human. Be nice.

Time to tone it down.

 

[MossRoad]

That's what I though by the statement about paying in at the end of the year but sometimes it's better to ask than assume anything with Moss.

So, Moss, ?.???

Yeah, me and Leona Helmsley! :laughing:

 

[two_bit_score]

Yeah, me and Leona Helmsley! :laughing:

Well? Are you saying that you have worked it out so that you pay no income tax?

Or, are you saying that you have it worked out so that your actual tax liability is equal to your withholdings or your quarterly payments?

 

[MossRoad]

Well? Are you saying that you have worked it out so that you pay no income tax?

Or, are you saying that you have it worked out so that your actual tax liability is equal to your withholdings or your quarterly payments?

Did you really not get what I meant in my original post when I said "As for getting large tax refunds.... yikes! I want no tax refund at the end of the year. In fact, I would rather owe some money than get a refund at the end of the year."?

The last year I paid no income tax I was 14. Because of our investments, I have had to itemize every year for the past 26 years in order to fill out the proper schedules on the federal tax forms. However, we have never met the standard deduction. We came within about 200 dollars one year, but most years we are thousands of dollars short of the standard deduction. I try to adjust my withholdings so that I get no refund at the end of the year. I want my money in my paycheck to use as I please, not held by the government until I figure out how to get it back each April. I used to be pretty accurate to come within a couple hundred bucks either direction of zero come April 15th. However, with all of the recent tax changes in the past few years and a child in college, and no raise for 5 years and a 5% pay cut three years ago, and a 2.5% pay increase a year ago, and local property tax relief that lowered our property taxes by a hundred bucks, and a local county option income tax that offset the property tax savings five hundred dollars in the opposite direction, well, I keep getting larger than expected refunds. It is becoming increasingly harder to calculate accurately my expected federal tax burden for the coming 12 months. :confused2:

 

[EddieWalker]

Very typical of you of late. Throw the label. It is all the governments fault. It was this policy it was that regulation. It was deregulation. Just cannot see the fact that regular people took advantage of things and got away with it.

You must have skimmed through this thread and missed everything that I've said. Just to recap, I'm the one who is saying that the reason we are in this economic disaster is because people who did not have the income or credit score to buy a house where allowed to buy houses. It takes a very narrow view to not realize that it too a very large number of people, being very stupid, greedy and irresponsible with the amount of dept they accumulated for this to happen.

In my opinion, government is supposed to help everyone overall, but to gain votes, they changed the laws so that banks couldn't refuse to give loans due to income or credit history. Or at least they relaxed them to a point that too many who didn't qualify, where allowed to borrow.

Once that got started, Clinton made it worse by easing the refi and equity loan laws. It was the stupidity on those that I worked with in CA who where taking out $100,000 in some cases, and tens of thousands of dollars in other cases, to go on vacation, buy furniture, computers, throw parties, new cars and a never ending list of stuff that couldn't afford otherwise.

It WAS those doing the borrowing and going deeper into depth then they could afford to pay the minimum payments. None of them where making more money, but all of them where having to make bigger mortgage payments. Then they used credit cards to pay bills and even continue the spending after the cash ran out because they could get more cash next year when they refi'd or took out an equity loan.

Eddie

 

[EddieWalker]

Hey Eddie,

I have generally agreed with your points, but we are all fallible. Each of us has been wrong once or twice--maybe 3 times for me. We're all human. Be nice.

Time to tone it down.

I'm sure you're right, but when I'm told that I'm wrong, I want to hear why and what I said that was wrong. Point it out and I will respond in kind. I will be polite and support what I say with a link. If you've noticed, I rarely get a response from those posts.

When somedody tosses out an empy generality, and doesn't have to ablity to make a specific point, I feel that I'm justified in pointing out this persons lack on understanding of this discussion, and the topic at hand.

Why are Liberals so insulted to accept their lable. I'm proud to be a Conservative and a Tea Party supporter.

Eddie

 

[ridger]

im debt free every two years and have been doing this for the last twenty years

 

[ultrarunner]

Don't forget how congress encouraged the stampede to Home Equity Lines of Credit when it made credit card interest no longer deductible