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Old Today, 12:03 PM
 
Location: Bran's tree
11,188 posts, read 4,933,857 times
Reputation: 12491

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Anyone making that little has no business having even 1 kid, let alone 4.

Stupidity shouldn't be subsidized.
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Old Today, 12:09 PM
 
3,614 posts, read 990,976 times
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Quote:
Originally Posted by ohhwanderlust View Post
Anyone making that little has no business having even 1 kid, let alone 4.

Stupidity shouldn't be subsidized.
What if they were doing OK when they had the kids, then later things happened?

I don't know what the answers are. I do just know it's not always bad budgeting or having kids when poor.
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Old Today, 12:12 PM
 
5,434 posts, read 1,353,989 times
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Quote:
Originally Posted by antinimby View Post
Watch the Democrats now attack him for being racist, again. That's their go to attack.
Oh, you noticed that too, huh?
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Old Today, 12:13 PM
 
1,178 posts, read 245,109 times
Reputation: 1634
The median income for all households is $59K/year.
Since when did $50K a year become "poor" ?
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Old Today, 12:15 PM
 
Location: Bran's tree
11,188 posts, read 4,933,857 times
Reputation: 12491
Quote:
Originally Posted by latimeria View Post
What if they were doing OK when they had the kids, then later things happened?

I don't know what the answers are. I do just know it's not always bad budgeting or having kids when poor.
Yeah I don't judge people in those situations. That's not the majority of cases though, from what I've observed.
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Old Today, 12:17 PM
 
405 posts, read 123,949 times
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Quote:
Originally Posted by chopchop0 View Post
Yet trump let hedge fund managers get away with paying capital gains rates on their income.

The swamp is alive and well
While I don't like the tax on capital gains . This existed long before Trump and will continue long after. Politicians of both parties depend on those donations from that class of people and this will not change.
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Old Today, 12:17 PM
 
5,434 posts, read 1,353,989 times
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Quote:
Originally Posted by lilyflower3191981 View Post
A family of four, making $50,000/year

I assume the two are married and filing jointly, then their tax bracket is 15% (If I remember this correctly, I could be wrong here, so feel free to correct me) Their after tax income is around $3,541/month.

I think with a little bit of budget, they don't need to rely on food stamps even if they have two small children to feed.

When I was single and in my very early 20s, no matter how much I made, I always felt I didn't make enough money or I paid too much taxes, lol, then my family members taught me how to budget my money. My grandpa was a self made millionaire who lived a moderate life style.

Maybe these people just need to be taught how to budget their money. I don't mean to sound harsh, but if you manage to make $50,000 / year (well, not a good income, but somewhat decent) and you have a family of four people and you feel you need to rely on food stamp to feed your children, there is something wrong with your budgeting.
12% and the chances of a family of four making $50k having ANY taxable income is low. They sure aren't paying on the whole $50k. They probably pay around 3-5%. Nowhere close to 12 after the standard deduction of $24k and $8k on tax exemptions for the kids....they might be paying 12 % on $50k-$24k-$8k = 18k. 18k * 12 % = $2160. After tax income = $3,987. There might be more low income stuff but I don't know what they are.

Effective rate rate for the above is 4.32 %.
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Old Today, 12:19 PM
 
3,614 posts, read 990,976 times
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Quote:
Originally Posted by lilyflower3191981 View Post
well, let me budget for them if they don't know how to budget themselves.

I can guarantee you that they would be okay without food stamp.
Blanket, no matter their expenses? What if they have necessary medications, for example?

They probably would do better moving somewhere else if possible..there are reasons I live elsewhere now. I just don't like broad assertions that assume there are no reasons ever where these situations happen and it's not 100% a result of the person's failings.
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Old Today, 12:24 PM
 
Location: Colorado
2,144 posts, read 1,294,124 times
Reputation: 4478
Quote:
Originally Posted by latimeria View Post
Perhaps the different costs of living come into play? Dollars go farther in some places. How that should be handled as far as assistance goes may be complicated, but it's not always 100% down to bad budgeting.
Agreed. In Denver, the way housing costs alone have gone haywire (I've seen one-bedroom apartments going for $1400 a month), I'm not sure $50,000 a year would meet the needs of a family of four around here. In, say, Tulsa, Oklahoma, that might be a whole different story.
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Old Today, 12:26 PM
 
5,434 posts, read 1,353,989 times
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Quote:
Originally Posted by remco67 View Post
While I don't like the tax on capital gains . This existed long before Trump and will continue long after. Politicians of both parties depend on those donations from that class of people and this will not change.
Agree but you are confusing apples with oranges here. There is no $250k that is cap gains tax free. You are most likely referring to the $250k in capital gains you get free with the sale of a home and $500k for a married couple. This has nothing to do with capital gains on income.

Short term capital gains - The MINIMUM capital gains rates on higher earners is 20 percent + 3.8 percent Obamacare on long term capital gains (asset held more than a year) So 23.8.

Long term capital gains - Your top marginal tax bracket rate that the income puts you into = 3.8% ACA tax. So a higher earner would pay over 40%.

Lower incomes pay 0 and 15 % capital gains depending on their base income.
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