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With 9 out of 10 failing luck and being in the right place at the right time is a big part of success (along with EVERYTHING ELSE I listed) . Someone licing in ghettoland will be less likely to be in the right place at the right time.
This reminds me of something that's bugged me for a long time:
Ever notice how an awful lot of innovations are created by people who experienced a problem in commerce? (e.g. I tried to do X with Business Y and they couldn't do it, so I created Z)
If you're (financially) in ghettoland, you are unlikely to be in a position to have the sort of problem for which you can create a solution.
No. Benefits are capped because contributions are capped. Retirees receiving SS should be taxed just as those withdrawing funds from their 401k's/IRAs are taxed.
Tsk tsk. There is a longstanding generally accepted accounting principle that proceeds from insurance should not be taxed when the insurance premiums are paid with post-tax dollars. When insurance premiums are paid with pre-tax dollars, payouts should be taxed.
Didn't you say previously that Social Security is INSURANCE? Since people pay into it with post-tax dollars, any benefits they receive should be exempt from tax.
Congress got this one wrong and you propose to make it even more wrong.
For those who don't know, "largess" means the giving of money as if to an inferior, or something given to someone knowing there will not be any hope of repayment or reimbursement.
I wanna know why I am paying a positive federal income (and payroll) tax rate when the middle quintile is paying a negative tax rate.
Didn't you say previously that Social Security is INSURANCE? Since people pay into it with post-tax dollars, any benefits they receive should be exempt from tax.
Part of intellect is being resourceful in finding capital.
Now you're sounding like Robert Kiyosaki.
His definition of "financial literacy" includes the ability to borrow $1 million.
Yeah, right. Like HowTF does a burger flipper with an IQ of 120 borrow $1 million? That should be a standard of financial literacy?
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