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my friend hired a nanny. his dad is an accountant so he advised him to do everything legal. i think he pays her something like 15-17 an hour and he started a legal company and pays fica, workers comp., unemployment, etc. it must cost him a fortune. unless he is planning on running for political office, i think he should be hiring the illegal and paying cash.
I noticed a lot of postings here determining wealth to how much retirement funds you currnently assess the value at. But, with the coming ecnomic crisis of the US government not being able to pay its debts (over 70% is interest alone) the only logical thing economic pundits are saying is that the government is going to seize the people's pension and retirement funds. I thought it was crazy too till I looked over the numbers of our debt being somewhere in the 14 trillion range and our country's retirement and pension fund value at around 16 trilion value. And you say it might be crazy to happen here but it has happened in argentina and is begining to happen in Europe with EU countries trying to pass legislation for a 10% tax on retirement accounts. The US government is already in the works of trying to pass legislation of the US government trying to take over everyone's retirment and pensions and to offer an annuity credit in place of an individual's retirement/pension fund. This is basically confiscating all of someone's wealth as the value of the annunity loses value to inflation and the government gets the full market price of your retirement while you get the depreciated value of the annunity when you retire. Any thoughts on this?
I noticed a lot of postings here determining wealth to how much retirement funds you currnently assess the value at. But, with the coming ecnomic crisis of the US government not being able to pay its debts (over 70% is interest alone) the only logical thing economic pundits are saying is that the government is going to seize the people's pension and retirement funds. I thought it was crazy too till I looked over the numbers of our debt being somewhere in the 14 trillion range and our country's retirement and pension fund value at around 16 trilion value. And you say it might be crazy to happen here but it has happened in argentina and is begining to happen in Europe with EU countries trying to pass legislation for a 10% tax on retirement accounts. The US government is already in the works of trying to pass legislation of the US government trying to take over everyone's retirment and pensions and to offer an annuity credit in place of an individual's retirement/pension fund. This is basically confiscating all of someone's wealth as the value of the annunity loses value to inflation and the government gets the full market price of your retirement while you get the depreciated value of the annunity when you retire. Any thoughts on this?
My thought is that you need to cite a credible source for that information.
I noticed a lot of postings here determining wealth to how much retirement funds you currnently assess the value at. But, with the coming ecnomic crisis of the US government not being able to pay its debts (over 70% is interest alone) the only logical thing economic pundits are saying is that the government is going to seize the people's pension and retirement funds. I thought it was crazy too till I looked over the numbers of our debt being somewhere in the 14 trillion range and our country's retirement and pension fund value at around 16 trilion value. And you say it might be crazy to happen here but it has happened in argentina and is begining to happen in Europe with EU countries trying to pass legislation for a 10% tax on retirement accounts. The US government is already in the works of trying to pass legislation of the US government trying to take over everyone's retirment and pensions and to offer an annuity credit in place of an individual's retirement/pension fund. This is basically confiscating all of someone's wealth as the value of the annunity loses value to inflation and the government gets the full market price of your retirement while you get the depreciated value of the annunity when you retire. Any thoughts on this?
I somewhat agree with you but im not sure this is the right forum. politicians have already had hearings and discussions regarding how to get their hands on more private money. that's what the whole "myIRA" thing is about. they are going to get their hands on at least some of our 401k/IRA money sooner or later. id imagine they will try to phase out the tax deduction for high earners, I actually got an email on that recently so I think that's coming soon. one thing they could do is force a roth conversion. that way, they get the tax money bonus payment today and they trick people into believing they haven't really lost out. forcing the entire system under the public domain would require some kind of incident where the stock market is wiped out.
my friend hired a nanny. his dad is an accountant so he advised him to do everything legal. i think he pays her something like 15-17 an hour and he started a legal company and pays fica, workers comp., unemployment, etc. it must cost him a fortune. unless he is planning on running for political office, i think he should be hiring the illegal and paying cash.
it's good for liability issues also. i can't say i blame him for going by the book.
I noticed a lot of postings here determining wealth to how much retirement funds you currnently assess the value at. But, with the coming ecnomic crisis of the US government not being able to pay its debts (over 70% is interest alone) the only logical thing economic pundits are saying is that the government is going to seize the people's pension and retirement funds. I thought it was crazy too till I looked over the numbers of our debt being somewhere in the 14 trillion range and our country's retirement and pension fund value at around 16 trilion value. And you say it might be crazy to happen here but it has happened in argentina and is begining to happen in Europe with EU countries trying to pass legislation for a 10% tax on retirement accounts. The US government is already in the works of trying to pass legislation of the US government trying to take over everyone's retirment and pensions and to offer an annuity credit in place of an individual's retirement/pension fund. This is basically confiscating all of someone's wealth as the value of the annunity loses value to inflation and the government gets the full market price of your retirement while you get the depreciated value of the annunity when you retire. Any thoughts on this?
this is pure tin foil hat stuff. no offense to you, but don't buy into this crap.
ouch! Better be a good school/daycare. I'm sure its based on local market. There is a daycare across the street of my office charging almost $2k per child. Of course, the immediate area of my work is several times out of my price range in terms of housing....
My thought is that you need to cite a credible source for that information.
His tinfoil hat's working OT.
The Gov't generally can't confiscate your property without due process. And 401k assets are held in a trust which in theory protects your assets if your co. goes belly up. Unless they were stealing from the 401(k) which happens sometimes. Your 401k assets are protected from creditors if you file for bankruptcy too.
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