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The standard rebuttal to anything negative about Trump or his policies is "But Obama." Personally, I saw a huge difference after W left. My 401K grew back enough for me to retire finally, and all of my children were able to find jobs paying living wages and pay off their college loans. How did you do?
Both Democratic presidents in my lifetime have been GREAT!!!
Focusing on Obama, my net worth grew exponentially. I believed in his policies and it paid off handsomely.
More importantly, I did exactly the OPPOSITE of what the Right-Wing said I should do. I bought real estate at a time when ALL the right-wing pundits and politicians said we were sliding into a Japanese-like lost decade. I bought stocks when the right-wing said we needed austerity and Obama's bailout was going to ruin our economy!
The lesson I've learned is that whatever the right-wing is saying, do the exact opposite and you'll come out ahead.
I also retired early this past June 30th (due to having lost all vision in my right eye).
I began contributing to the Thrift Savings Plan (the Federal equivalent to 401K) in 1988.
In 2009 it was worth $190,000.00.
As of my retirement this past June, it was worth $410,000.00.
Being the nervous sort, I just last week transferred the whole into the G-Fund (the safest investment, with annual interest of 2.75 percent). Of course, after the transfer the market has continued to rise (I had some 30 percent of my TSP in the market).
So, I did very well under Obama, and I continued to do well under Mr. Trump. Hopefully, the economy will continue to do well, but I am besieged by doubts.
I entered the workforce in the Fall of 2005. Between 2005-2007 my income increased 5.25%
I jumped into IT in September 2007. I use the "jump and bump" theory of employment. My employer has no loyalty to me, so I will have none to them other than to ensure I do the best job I can for them while I'm there. If someone offers me more money and its a good fit, I leave. Since 2007 (~11 years) I have worked for five different companies (roughly two years a job) and have increased my salary 185% in that time.
Did Bush, Obama, Trump have any impact on that? Could be. Have I suffered under any of them? No, but always could in the future.
I got fortunate to learn a skill that is/was in high demand (and supply hasn't met it still) and worked that to my advantage.
The standard rebuttal to anything negative about Trump or his policies is "But Obama." Personally, I saw a huge difference after W left. My 401K grew back enough for me to retire finally, and all of my children were able to find jobs paying living wages and pay off their college loans. How did you do?
Well I saw a decrease in my take home pay due to tax increases mostly linked to Obamacare. I also work in the medical device industry and we saw additional corp. tax burdens due to Obamacare.
1. A 156 percent increase in the federal excise tax on tobacco: On February 4, 2009, just sixteen days into his Administration, Obama signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack. The median income of smokers is just over $36,000 per year.
2. Obamacare Individual Mandate Excise Tax (takes effect in Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance – as defined by Obama-appointed HHS bureaucrats -- must pay an income surtax according to the higher of the following:
I am a middle class worker with a seven person combined-family (Brady Bunch'ing it...)
Prior to the Affordable Care Act I paid $30 for a visit to the doctor. That's it, $30. Post Affordable Care Act I have to pay all expenses up to $4500 (the annual deductible) before my insurance pays anything. Then it only pays 80%. So our average doctor's visit is $400. After I meet my $4500 annual deductible and my insurance pays 80%, the visit only costs me $80.
My monthly insurance premium went from roughly $180/month to $460/month. (I have worked at the same company for the last 18 yrs.)
Let's review:
Prior to ACA, I was paying $2,160 / yr plus $30 for any visit.
Post ACA, I am paying $10,020 / yr plus $80 after I hit my annual deductible.
So no, Obama and his (un)Affordable Care Act was a big blood-sucking tick on my annual income.
I am a middle class worker with a seven person combined-family (Brady Bunch'ing it...)
Prior to the Affordable Care Act I paid $30 for a visit to the doctor. That's it, $30. Post Affordable Care Act I have to pay all expenses up to $4500 (the annual deductible) before my insurance pays anything. Then it only pays 80%. So our average doctor's visit is $400. After I meet my $4500 annual deductible and my insurance pays 80%, the visit only costs me $80.
My monthly insurance premium went from roughly $180/month to $460/month. (I have worked at the same company for the last 18 yrs.)
Let's review:
Prior to ACA, I was paying $2,160 / yr plus $30 for any visit.
Post ACA, I am paying $10,020 / yr plus $80 after I hit my annual deductible.
So no, Obama and his (un)Affordable Care Act was a big blood-sucking tick on my annual income.
Well, no doubt the recent Tax cuts have improved things for you. Right?
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