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Since you are making $200k paying 13-15% federal taxes of course it's easy for you to say raise taxes especially when you're sitting in the sweet spot. As for them benefiting from the lower tax rate now, good, they should but at say $50k there's not much if any left over for them to put away. But since you are making $200k a year and have enough excess to put enough away toward your $10 million goal is easy for you to sit on your know it all, refuse to see another point of view thrown.
You've never responded even though I've asked you multiple times but since you've never answered I'm not sure if you understand that I am deferring a tax liability and potentially a huge one, it's not simply a 13-14% current rate
I do understand other points of view, especially when they are rational and applicable to the discussion
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I'll never get why we don't force the government to live within the means that tax payers can pay rather than always hiking taxes to give them more to waste. It's a hoot that people actually thought the answer was higher taxes on income. Get the rich!!! LOL
Do you run your business without the use of credit?
Also what have you personally done to try and force the govt to spend within their means?
Yea with rumors that SS may not be there for you lol ...
How about the government learn how to stay within a budget like you have to? Or do we think the answer like anything else is just throw more money at them.
The silliest thing in the world to do is to compare a govt to a personal budget. It's beyond silly
What's a troll? Somebody that doesn't agree with your out of whack investment mantras? If anybody has been trolling it's Low Expectations, he's the one that Googles users on here and tries to find their personal information to post on City Data .
Are you the one who had all the online dating profiles that matched your handle here?
It is difficult for me to understand why someone earning $300K or more annually has a problem amassing wealth for retirement. I recognize that they did not earn this amount starting out but they must have earned more than the average person.
In 1968 after 9 years in the military and at age 28, I earned $48 per week and my wife $30. We never received or ask for help from anyone. I took an early retirement from the same company in 1990 at age 50. My annual income was over $80K at that time. My insurance is paid for life, and I took a LOA for 5 years until age 55. My 401K, profit sharing, retirement, and stock options stayed with the company during this period. At age 55, I rolled everything into a self-directed IRA.
Mistake number one, I should not have cashed out my retirement.
During our working years, we purchased many rental properties VA or FHA only. We just took over payments with very little down and no refinancing.
We also moved up to a $250K house in 1983, and mistake number two.
The Texas RE market crashed in the 80’s, and I was stuck with many rentals with some remaining empty and some occupied by people that could not get an apartment. I also had this new $250K house with a 16.5% mortgage rate. We survived keeping all of the properties but depleted our savings but not our investments.
I was fearless and very lucky in the markets especially during the dot-com years and our investments grew into the millions.
I was greedy, and stayed in and lost a million and mistake number three.
During my early retirement if we need some extra money, we sold one of the rental properties and my wife was still working. We paid off the house in twenty years and liquidated all the rentals by age 60. We all know the markets have been great during the past 5 years and so have my investments. We now enjoy a great retirement.
You are spot on. People that obsess with this typically lose sight of what they should be doing and end up costing themselves more than the dems or repubs ever would.
Also typically the same people don't actually do anything to attempt to effect change tax law wise or politically so it turns out to be endless bitchfest that simply cost them productivity
I couldn't disagree with this any more. The only people who don't care about taxes are low income people who don't pay any. They just vote for the democrats to keep the gravy train rolling.
All high net worth households plan with taxes in mind. All of the investment vehicles are designed to lower taxes and taxes have one of the most significant impacts on your planning for retirement.
If we had a flat tax of 10% and we got rid of all the welfare spending I would be about 100% richer
You bet it matters who is in office, if you have a professional job and Bernie Sanders takes over your role is going to be to support the poor lazies in this country.
I couldn't disagree with this any more. The only people who don't care about taxes are low income people who don't pay any. They just vote for the democrats to keep the gravy train rolling.
All high net worth households plan with taxes in mind. All of the investment vehicles are designed to lower taxes and taxes have one of the most significant impacts on your planning for retirement.
If we had a flat tax of 10% and we got rid of all the welfare spending I would be about 100% richer
You bet it matters who is in office, if you have a professional job and Bernie Sanders takes over your role is going to be to support the poor lazies in this country.
All high net worth households plan with taxes in mind. All of the investment vehicles are designed to lower taxes and taxes have one of the most significant impacts on your planning for retirement.
Exactly, to grow wealth you must plan with taxes in mind. Even middle class plan with taxes in mind, for example contributing to a 401k or they wouldn't bother with all the regulations and just contribute to a retirement fund with after tax dollars.
Try taking the mortgage deductions away from the middle class and I'll bet there will be a lot of screaming like a bunch of wet cats. The tax deduction can reduce your tax bill and can make a difference.
Exactly, to grow wealth you must plan with taxes in mind. Even middle class plan with taxes in mind, for example contributing to a 401k or they wouldn't bother with all the regulations and just contribute to a retirement fund with after tax dollars.
Try taking the mortgage deductions away from the middle class and I'll bet there will be a lot of screaming like a bunch of wet cats. The tax deduction can reduce your tax bill and can make a difference.
You really should look up data on who benefits from the mortgage interest deduction
I couldn't disagree with this any more. The only people who don't care about taxes are low income people who don't pay any. They just vote for the democrats to keep the gravy train rolling.
All high net worth households plan with taxes in mind. All of the investment vehicles are designed to lower taxes and taxes have one of the most significant impacts on your planning for retirement.
If we had a flat tax of 10% and we got rid of all the welfare spending I would be about 100% richer
You bet it matters who is in office, if you have a professional job and Bernie Sanders takes over your role is going to be to support the poor lazies in this country.
No thanks
Well your rant is misplaced because as ncole points out you missed a key part of my post
You really should look up data on who benefits from the mortgage interest deduction
who benefit from the mortgage interested deduction low expectations?
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