Wealth inequality

#426
#426
1972 Grad said:
"Aging and moving out of the working class onto the government tit?" Have you ever considered that these dinosaurs may have done what you are now doing and have paid their dues? You make it sound like they are a bunch of leeches.
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I used to believe that. But in reality, Baby Boomers have taken advantage of a Ponzi Scheme in both the private and public sector which all originates from the use of fiat currency.
 
#427
#427
G0 BIG 0RANGE said:
The problem is NAFTA,TPP, etc. according to your previous post. The man votes against them. That was/is addressing the problem. It was Democrats and Republicans, alike, who passed it. If it were possible to overturn any of those trade agreements, he'd be the first to sign up and keep jobs in America.

And those taxes aren't a reaction to the symptoms. Hell, they're not even unheard of. Go to just 1986 and you'll see 50% for a single person making 88k (190k adjusted to inflation).

Bernie's 50% bracket wouldn't kick in until 2 million a year. 6 years of Ronald ******* Reagan had more progressive taxes.

Besides, I thought free marketers loved free trade?
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I really hate to tell you this but a 50% tax bracket now is not even close to a 50% tax bracket in 1986.

To get an idea, take a look at AMT which was only supposed to affect the wealthy.
 
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#428
#428
Rasputin_Vol said:
I used to believe that. But in reality, Baby Boomers have taken advantage of a Ponzi Scheme in both the private and public sector which all originates from the use of fiat currency.
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This Ponzi scheme you speak of took over 30% of the profit from the business that my brother and I ran. Self employed people have to match SS and Medicare, which meant 15.3% of each of our incomes, or 30.6% of the two.

My brother died last year at age 67 which meant that he received a VERY small return on his investment, plus $255 to pay toward his final expenses, with nothing to pass on from it.

I take almost exactly 6 times as much from my self invested retirement monthly as I get from my SS. That means that my investments turned out a bit better than the government's. I certainly didn't investment 6 times the money in my retirement. I couldn't. the government already took 15%. That would mean I would have to invest 90% of my income.
 
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#429
#429
1972 Grad said:
This Ponzi scheme you speak of took over 30% of the profit from the business that my brother and I ran. Self employed people have to match SS and Medicare, which meant 15.3% of each of our incomes, or 30.6% of the two.

My brother died last year at age 67 which meant that he received a VERY small return on his investment, plus $255 to pay toward his final expenses, with nothing to pass on from it.

I take almost exactly 6 times as much from my self invested retirement monthly as I get from my SS. That means that my investments turned out a bit better than the government's. I certainly didn't investment 6 times the money in my retirement. I couldn't. the government already took 15%. That would mean I would have to invest 90% of my income.
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For every person like your brother, there are multiple more that are like Ida May Fuller.

Ida May Fuller - First Social Security Check Recipient

Fuller was born on a farm outside Ludlow, Vermont. She spent most of her life in Ludlow, working as a legal secretary, but lived with her niece in Brattleboro, Vermont during her last eight years. She retired in 1939, having paid just three years of payroll taxes. She received monthly Social Security checks until her death in 1975 at age 100. By the time of her death, Fuller had collected $22,888.92 from Social Security monthly benefits, compared to her contributions of $24.75 to the system. She later said about going to the Social Security office, "It wasn't that I expected anything, mind you, but I knew I'd been paying for something called Social Security and I wanted to ask the people in Rutland about it."
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#430
#430
I am fine without it. I didn't have anything to do with it. They took my money then, and they take money out of my SS every month for Medicare. I try not to go to the doctor, and when I do have to, it is to a pay as you go clinic. I pay cash. They don't take Medicare.
 
#431
#431
KentheOrange said:
I really hate to tell you this but a 50% tax bracket now is not even close to a 50% tax bracket in 1986.

To get an idea, take a look at AMT which was only supposed to affect the wealthy.
Click to expand...

Well there isn't one now (it's 39.6%) and I agree that the AMT need to be readjusted. 50% then was on 180k now (adjusted to inflation) and Bernie's 50% would be 2-10 million.
 
#433
#433
Rasputin_Vol said:
The millennials aren't working and contributing to the system right now.
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They better start. When they get their socialist .gov, I will be retiring, and demanding to be taken care of. Pony up fools. It's your turn. Let's see that free college education pay lots and lots of taxes.
 
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#435
#435
1972 Grad said:
This Ponzi scheme you speak of took over 30% of the profit from the business that my brother and I ran. Self employed people have to match SS and Medicare, which meant 15.3% of each of our incomes, or 30.6% of the two.

My brother died last year at age 67 which meant that he received a VERY small return on his investment, plus $255 to pay toward his final expenses, with nothing to pass on from it.

I take almost exactly 6 times as much from my self invested retirement monthly as I get from my SS. That means that my investments turned out a bit better than the government's. I certainly didn't investment 6 times the money in my retirement. I couldn't. the government already took 15%. That would mean I would have to invest 90% of my income.
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But Americans need the govt to look out for them..... We all know they know what's better for us in the long run..... Buncha no acct SOBs
 
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#437
#437
Anybody seen or heard from Gramps?

Been a while - can someone reach out to him?
 
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