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Old 01-01-2011, 12:53 PM
 
31,040 posts, read 37,181,727 times
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Quote:
Originally Posted by detwahDJ View Post
I'm in your boat..I said I'm not anti-wealth or investing. I'm pro-incorporation as a way to do business. I'm only anti-plutocracy (RULE by class). It's really simple.
Foreign countries are practicing protectionism for their industries and we're not. That's the "global market" as it is now, and which you embrace as "the reality".
What happens to your investments if we do as they do? Politics will affect your income.
Roll with the flow as best as possible and adapt. That is the nature of intelligence the ability to adapt. I don't have to agree with only be able to adapt. As a business person you adapt to the market place as it changes. That need to adapt applies to us as individuals. If you notice some of my comments about pensions and SS. I am making assumptions that benefits might be reduced by 20-25% and planning accordingly. Do I like it no but have I accepted it as possibility? Yes! Thus the topic of reduced benefits doesn't scare me.
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Old 01-01-2011, 12:55 PM
 
31,040 posts, read 37,181,727 times
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Originally Posted by Boompa View Post
But the Boomers are an anomaly, the pig in the snake. There is no reason for a long term solution since they will all be dead and the percentage of seniors will return to normal
Other generations might be a smaller percentage in total numbers but they also might be more limited in earned income and payroll taxes paid.
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Old 01-01-2011, 03:05 PM
 
Location: Sierra Vista, AZ
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Quote:
Originally Posted by TuborgP View Post
Other generations might be a smaller percentage in total numbers but they also might be more limited in earned income and payroll taxes paid.
We could always eliminate the cap on the wage tax.
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Old 01-01-2011, 03:44 PM
 
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Quote:
Originally Posted by Boompa View Post
We could always eliminate the cap on the wage tax.
As I have said many times before, they could have kept taking out for SS once I hit the cap. I didn't need a temporary raise. Just don't do means testing if you do.
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Old 01-01-2011, 03:50 PM
 
Location: Ponte Vedra Beach FL
14,617 posts, read 19,222,097 times
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Quote:
Originally Posted by Boompa View Post
We could always eliminate the cap on the wage tax.
That tends not to work for a lot of small corporations. Because the owners will take out their earnings in the form of dividends instead of "wages". That's what John Edwards (and other people like him) did - to avoid Medicare taxes.

BTW - I don't get a lot of this thread at all. If I buy municipal bonds to get tax-free income - does that make me a "good guy" because I'm investing in the communities where people in the US live? And if I buy German bonds - does that make me a "bad guy"? Robyn
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Old 01-01-2011, 04:12 PM
 
48,508 posts, read 88,904,751 times
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Quote:
Originally Posted by TuborgP View Post
Other generations might be a smaller percentage in total numbers but they also might be more limited in earned income and payroll taxes paid.
With thew per cebatge of new generatio not porducing much and their reliance on entitlements from younger age they really have a probelm besidews they per cenatge just paying anyhtig in federal tax. That is why they are more and more reliant on entitlements from fewer and fewer thru out their lifes.Just the number of grand children that are raised by bommers is scary much less the age when young people become self relaint witnessed by the age of dependent coverage in the new healthcare bill alone.
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Old 01-02-2011, 02:48 PM
 
Location: California
5,484 posts, read 6,213,118 times
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"I'm spending my kids inheritance". Remember that bumber sticker? I wonder how many of the younger ones are counting on inheriting from their parents/grandparents while also claiming they don't want those old folks to have SS benefits?
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Old 01-02-2011, 03:13 PM
 
31,040 posts, read 37,181,727 times
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Originally Posted by Heidi60 View Post
"I'm spending my kids inheritance". Remember that bumber sticker? I wonder how many of the younger ones are counting on inheriting from their parents/grandparents while also claiming they don't want those old folks to have SS benefits?
Probably few as those types of kids don't usually have those types of parents.
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