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Tens of thousands. My point exactly. That's nothing for a company with a market cap of $500 billion.
By comparison, GM employed 600,000 people in the 1970's, more than the population of Wyoming.
If "Trickle Down" worked, Apple would employ about 1 million Americans. However, back in reality, trickle down is an ideology that has completely failed. Corporate profits do not lead to hiring, they just lead to more wealth concentrated at the top-end of society.
so when does my income no longer impact her eligibility? When she moves out?
Not necessarily. Colleges have very specific rules about that. A student cannot be considered independent merely by moving out of the family home.
I'll list the University of Wisconsin-Madison's (state university) rules, for example:
Quote:
The definition of dependent and independent for financial aid purposes is not the same as the IRS definition. In most cases undergraduates under age 24 are considered dependent.
The only undergrads under age 24 who are considered independent are those who are married or have legal dependents other than a spouse, veterans or on active duty for other than training purposes, orphans, and in a small number of cases, situations involving foster care, ward of the court status, legal guardianship, and homelessness. In rare cases a student who does not meet the above criteria might be considered independent if there are unusual circumstances such as abuse or abandonment.
A parent's unwillingness to contribute to the student's education or to provide income or FAFSA information has no bearing on a student's dependent status, nor does it matter whether a student is claimed or not claimed by the parent as a dependent for tax purpose. Undergraduates not meeting the above criteria are considered dependent even if they support themselves and receive no financial assistance from parents.
You are correct about your assumptions regarding SS and Medicare, though it's STILL true that those who pay in the most get the least benefits in return.
SS is progressive, weighted towards lower-income earners, and the middle class and above loses money on that.
The Medicare tax has no income cap, so those paying tens if not hundreds of thousands of dollars into Medicare each year will never get that much back in Medicare benefits. But those who pay hundreds or maybe even a thousand each year will get back FAR more than they ever contributed.
No the middle class doesnt lose out. In countries without basic safety nets like SS and Medicare, there is hardly any middle class at all, and the rich live like kings and queens surrounded by massive poverty. Thats your dream society. Funny how far right extremists constantly push for the US to look more like Latin America every day yet they claim to be against just such a development.
"As recently as 1985, workers at every income level could retire and expect to get more in benefits than they paid in Social Security taxes, though they didn't do quite as well as their parents and grandparents.
Not anymore.
A married couple retiring last year after both spouses earned average lifetime wages paid about $598,000 in Social Security taxes during their careers. They can expect to collect about $556,000 in benefits, if the man lives to 82 and the woman lives to 85, according to a 2011 study by the Urban Institute, a Washington think tank.
Social Security benefits are progressive, so most low-income workers retiring today still will get slightly more in benefits than they paid in taxes. Most high-income workers started getting less in benefits than they paid in taxes in the 1990s, according to data from the Social Security Administration."
On Medicare, because there's no income cap on the Medicare tax only high income earners lose money on that deal.
Yes, SS is a good deal as well for the middle class. And thats why every single country that doesnt have such a system have no middle class to speak of. Just like you want to see happen in America. Luckily your extremism is a small minority in the US.
Why is college assistance always based on the parents income?
My daughter is 19 years old, considered an adult in this country. She will be getting a student loan and be responsible to pay that back. Her collegiate assistance should be based on HER ability to pay it back.....not mine. Im not against the government helping with things, but be fair to ALL. Why are my wife and I continuously punished for getting up every day and working hard. btw, we live in Upstate NY, the public assistance capitol of the world.
More than one has pointed out that it shouldn't be based upon the parents income.
Tens of thousands. My point exactly. That's nothing for a company with a market cap of $500 billion.
By comparison, GM employed 600,000 people in the 1970's, more than the population of Wyoming.
If "Trickle Down" worked, Apple would employ about 1 million Americans. However, back in reality, trickle down is an ideology that has completely failed. Corporate profits do not lead to hiring, they just lead to more wealth concentrated at the top-end of society.
GM's model in the 70's didn't exactly work now did it?
Yes, SS is a good deal as well for the middle class.
No, it isn't. They lose money on it now. Didn't you read the AP article I posted? Higher income earners have been losing money on SS since the mid-1990s. That's now moved down to the middle class. Middle class earners now also lose money on SS. Only lower-income earners come out ahead on SS.
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