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Old 10-05-2017, 06:08 PM
 
2,215 posts, read 744,408 times
Reputation: 1376

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Quote:
Originally Posted by 17thAndK View Post
No, it's not sketchy at all, as you yourself actually admit. As for The Post, they published the table in a blog about taxes. The table itself was produced by the left-leaning Institute for Taxes and Economic Policy from data produced by tax collection authorities.


Or they smoke, drive, or shoot a lot, the actual point being that excise taxes in general are just another regressive tax.


Context is always important. These "no skin in the game" posts about large percentages of people paying no taxes ever need to be called out and rebutted.
It's about people not paying "Federal income taxes", not all taxes.

 
Old 10-05-2017, 07:49 PM
 
Location: 5,400 feet
2,627 posts, read 2,582,612 times
Reputation: 3679
Quote:
Originally Posted by cdelena View Post
There are no federal employment taxes. If you are referring to FICA please look at the long threads on the subject that point out it is insurance (Federal Insurance Contribution Act) that supports Social Security, the primary retirement plan in the country. You may not like the way SS is required, funded, or distributes benefits but that is a different subject than income taxes.
When the Feds defended a challenge to the constitutionality of S/S, they argued that it was not insurance but a tax. Had it been found to be insurance, it would have been held unconstitutional. The Supreme Court decision on Obamacare had a very similar result.
 
Old 10-05-2017, 07:52 PM
 
Location: Baltimore, MD
3,745 posts, read 4,221,259 times
Reputation: 6866
Quote:
Originally Posted by TuborgP View Post
Those high property taxes provide education and senior services in many areas. I am thinking of older folks in suburban areas that purchased homes years ago and have seen their assessments sky rocket and now have high medical cost and oh yeah may have refinanced and have a mortgage and maybe s deceased spouse
Dude, I live in Maryland, remember? I haven't fled the nanny state, yet. But then again, Maryland has the "circuit breaker" for all homeowners and additional credits toward property taxes for those with assets less than than $200,000 (excluding home and retirement accounts) and an income no more than $60,000. Sure, you would be a bit limited if your property was assessed higher than $300,000 - but even someone with a $600,000 home could apply for partial credit.
https://www.baltimorecountymd.gov/Ag...omeowners.html

Why is it that the middle and working classes need to suck it up when money gets tight but not the wealthy homeowner? Is there a reason they cannot sell or rent out their home or God forbid, take in a boarder like the rest of the minions?

Seniors of all stripes and in all states have higher medical bills. And? Marylanders elect to pay higher taxes in exchange for what we consider better services. Some of us on this forum have repeatedly warned people not to depend on the current tax situation when planning on their retirement years. If a senior refinanced and is carrying a new mortgage that she cannot afford without the federal tax deductions, then that falls on her. After all, it wasn't that long ago that many folks lost their homes during the housing crisis. This is where my "bleeding heart" draws the line. I can't fix stupid.
 
Old 10-05-2017, 08:05 PM
 
Location: Baltimore, MD
3,745 posts, read 4,221,259 times
Reputation: 6866
Quote:
Originally Posted by Ariadne22 View Post
<snip> We are now seriously off-topic on this thread.
Double down. What just happened with the House budget bill that passed? I had no idea that the Medicare and medicaid "cuts" were part of that. Did you? AARP was on it...but still. I sure missed that one. That's a huge concern for retirees. Wait, Full Stop. I meant to tie this in to the tax plan.

Oh, right. No more medical expense deductions to help reduce the increased costs that will accompany the Medicare cuts.
 
Old 10-05-2017, 11:58 PM
 
Location: Chesapeake Bay
6,048 posts, read 3,875,311 times
Reputation: 3502
Quote:
Originally Posted by lenora View Post
Dude, I live in Maryland, remember? I haven't fled the nanny state, yet. But then again, Maryland has the "circuit breaker" for all homeowners and additional credits toward property taxes for those with assets less than than $200,000 (excluding home and retirement accounts) and an income no more than $60,000. Sure, you would be a bit limited if your property was assessed higher than $300,000 - but even someone with a $600,000 home could apply for partial credit.
https://www.baltimorecountymd.gov/Ag...omeowners.html

Why is it that the middle and working classes need to suck it up when money gets tight but not the wealthy homeowner? Is there a reason they cannot sell or rent out their home or God forbid, take in a boarder like the rest of the minions?

Seniors of all stripes and in all states have higher medical bills. And? Marylanders elect to pay higher taxes in exchange for what we consider better services. Some of us on this forum have repeatedly warned people not to depend on the current tax situation when planning on their retirement years. If a senior refinanced and is carrying a new mortgage that she cannot afford without the federal tax deductions, then that falls on her. After all, it wasn't that long ago that many folks lost their homes during the housing crisis. This is where my "bleeding heart" draws the line. I can't fix stupid.
So you are totally happy at the prospect of double taxation?
 
Old 10-06-2017, 06:52 AM
 
Location: Manhattan
21,493 posts, read 28,397,317 times
Reputation: 9763
Quote:
Originally Posted by Turbogyrl View Post
Why are you poking around with something that hasn't even happened yet?

Just stirring things up?

THERE IS NO PLAN APPROVED YET!!!

After the Tax Plan is signed into law it is too LATE to do anything about it. The only time to Stir things up is BEFORE the nightmare is implemented.
 
Old 10-06-2017, 06:57 AM
 
2,215 posts, read 744,408 times
Reputation: 1376
Quote:
Originally Posted by Kefir King View Post
After the Tax Plan is signed into law it is too LATE to do anything about it. The only time to Stir things up is BEFORE the nightmare is implemented.
It's a 9 page framework with few details.
 
Old 10-06-2017, 08:05 AM
 
3,145 posts, read 1,731,417 times
Reputation: 3519
Quote:
Originally Posted by Turbogyrl View Post
Why are you poking around with something that hasn't even happened yet?

Just stirring things up?

THERE IS NO PLAN APPROVED YET!!!
Ugh, use your indoor voice. Please.
Why don't you just not click on it if you don't like the topic.
It is is quite possible it WILL happen, and while you don't have to, rest of us need to be prepared.
 
Old 10-06-2017, 08:34 AM
 
29,788 posts, read 34,889,516 times
Reputation: 11715
Quote:
Originally Posted by skycaller23 View Post
It's about people not paying "Federal income taxes", not all taxes.
Bada Bing!
 
Old 10-06-2017, 08:37 AM
 
29,788 posts, read 34,889,516 times
Reputation: 11715
Quote:
Originally Posted by lenora View Post
Dude, I live in Maryland, remember? I haven't fled the nanny state, yet. But then again, Maryland has the "circuit breaker" for all homeowners and additional credits toward property taxes for those with assets less than than $200,000 (excluding home and retirement accounts) and an income no more than $60,000. Sure, you would be a bit limited if your property was assessed higher than $300,000 - but even someone with a $600,000 home could apply for partial credit.
https://www.baltimorecountymd.gov/Ag...omeowners.html

Why is it that the middle and working classes need to suck it up when money gets tight but not the wealthy homeowner? Is there a reason they cannot sell or rent out their home or God forbid, take in a boarder like the rest of the minions?

Seniors of all stripes and in all states have higher medical bills. And? Marylanders elect to pay higher taxes in exchange for what we consider better services. Some of us on this forum have repeatedly warned people not to depend on the current tax situation when planning on their retirement years. If a senior refinanced and is carrying a new mortgage that she cannot afford without the federal tax deductions, then that falls on her. After all, it wasn't that long ago that many folks lost their homes during the housing crisis. This is where my "bleeding heart" draws the line. I can't fix stupid.
Yup my friend I know you live in Maryland and my comments were directed with that in mind. Yup and in many cases stupid they are and were. It is the income level that can screw people up. Especially with a pension and SS who borrowed heavily against their rampant increase in home equity. Yes in many cases they dug a hole for themselves but it is still a senior in a hole.
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