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You need to explain your statement, with data to back it up " Are people who saved for retirement generally not enjoying cost-free consumption?
I am retired and I pay plenty "for consumption".
I eat "consume" food, and have to pay for it.
I consume electricity, and have to pay for it.
I consume water and have pay for it.
I can list much more.
Very simple: Do you own your home? If yes, you are enjoying free housing consumption. It's called "imputed rent" which is the market rent you would pay for the same house if you did not own it. You literally consume housing without paying for it, and therefore not paying federal taxes on it - unlike the renter who gets to pay a lot more tax than you while enjoying less consumption than you.
Makes a big difference at low incomes, where half of all low-income renters spend at least half their income for shelter.
p.s. As for data, I don't have the link in front of me, but the FairTax people did a ton of research and their numbers - which they did post on the Web maybe 10 years ago - calculated at the time that homeowners enjoy over $1 trillion annually (about $1.3 trillion, as I recall) in cost savings in the form of imputed rent. This works out to over $300 billion in tax that homeowners don't have to pay because they own their home.
Very simple: Do you own your home? If yes, you are enjoying free housing consumption. It's called "imputed rent" which is the market rent you would pay for the same house if you did not own it. You literally consume housing without paying for it, and therefore not paying federal taxes on it - unlike the renter who gets to pay a lot more tax than you while enjoying less consumption than you.
Makes a big difference at low incomes, where half of all low-income renters spend at least half their income for shelter.
p.s. As for data, I don't have the link in front of me, but the FairTax people did a ton of research and their numbers - which they did post on the Web maybe 10 years ago - calculated at the time that homeowners enjoy over $1 trillion annually (about $1.3 trillion, as I recall) in cost savings in the form of imputed rent. This works out to over $300 billion in tax that homeowners don't have to pay because they own their home.
" Are people who saved for retirement generally not enjoying cost-free consumption?"
NOW you want to change your statement to ONLY housing.
There is NO SUCH THING as "free housing consumption".
As I stated I consume a lot of things related to housing. Just because I don't pay a mortgage doesn't mean I don't consume and pay for it.
" Are people who saved for retirement generally not enjoying cost-free consumption?"
NOW you want to change your statement to ONLY housing.
There is NO SUCH THING as "free housing consumption".
As I stated I consume a lot of things related to housing. Just because I don't pay a mortgage doesn't mean I don't consume and pay for it.
Free housing consumption = market rent you would pay if you did not own your home - your housing expenses
People who saved for retirement generally were also able to buy a home, so I conflated the two groups of people. I was referring all along to housing for this reason, and never believed for a minute than "free consumption" applied to anything other than housing.
Are you one of those claim because it happened to you it must have happened to everyone?
You are the one who made the claim, "Originally Posted by Finn_JarberNone of the above is true, at least not in Florida. On the contrary, insurance and property tax has declined.
I took that to imply None of that happened ANYWHERE. It didn't happen in FLA. So what? It DID happen in most of the rest of the country as the poster eluded.
Free housing consumption = market rent you would pay if you did not own your home - your housing expenses
People who saved for retirement generally were also able to buy a home, so I conflated the two groups of people. I was referring all along to housing for this reason, and never believed for a minute than "free consumption" applied to anything other than housing.
You need to write what you mean and NOT what you think.
Contray to your claim there are lot of expenses other then the mortgage that come under the catagory of "housing expenses".
You rent so you have a distorted view that it costs nothing but the mortgage to own a house.
Very simple: Do you own your home? If yes, you are enjoying free housing consumption. It's called "imputed rent" which is the market rent you would pay for the same house if you did not own it. You literally consume housing without paying for it, and therefore not paying federal taxes on it - unlike the renter who gets to pay a lot more tax than you while enjoying less consumption than you.
You're laboring under a great misconception.
Even if the home is paid for, the total paid over a standard 30 year mortgage would be enough to have paid for rental, so you might say that the home owner has paid his "rental" in advance. But even after the house is paid for, he still has the same expenses as a renter - heat, hot water, electricity, repairs and maintenance, misc other utility bills, plus local taxes (usually figured into the rental).
Nothing is free.
By the way, the SS Disability fund is projected to be out of money in 2015. That's right around the corner, folks. And when those funds run out, the feds will have to borrow money -- probably from the general SS fund, which means those monies will run out a lot sooner than the currently estimated date.
Is it any wonder that the Obama administration is looking at tapping our IRAs, SEPs, etc. and reducing SS checks based on means testing?
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