Medicare and Social Security in big trouble

#76
#76
Thunder Good-Oil said:
It's sad that workers don't have the option of putting that 12.4% into self directed accounts. Or even their 6.2% contribution. The Left will never allow earners to manage their own money because they're smarter than everybody else.
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The left? The right has the numbers to push for reform right now.
 
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#77
#77
evillawyer said:
Gov't: Medicare will become insolvent in 2026, Social Security in 2034 - WFLA

Glad we got those corporate tax rates slashed. Don't want to deprive Tim Cook of his third yacht to save Granny. Am I right?
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If you ever want to understand why I oppose corporate taxes, start a business. Not only is my income taxed. I have to pay sales taxes for having the audacity to sell things. I pay taxes for having the audacity to employee people. I pay self employed taxes on my self. I’m about to have go before an appeal board because I feel they over accessed the value of my business assets.

Mind you, I’m a food vendor. My business assets are tables, grills, tents, and signs. Maybe 2000k total of equipment. But I have to pay taxes for having the audacity to own stuff.

Looters. There’s no other word for what they do. This is looting.
 
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#78
#78
If your business owns a printer, it’s taxed. If your business owns an oven, it is taxed. Any business assets
 
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#80
#80
Vol8188 said:
If your business owns a printer, it’s taxed. If your business owns an oven, it should taxed. Any business assets
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Assets?

Generally on this subject I agree with you, but I think it can get ridiculous when you start taxing assets. In NY, (and I think I have said this before) the towbars that we use to push back the airplane have license plates. Seriously?

At some point it is nothing but extortion.
 
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#81
#81
The govt will also means test it.. meaning you pay in but you won’t qualify to receive if you have too much saving or bet worth.. what a fair system.. lol
 
#82
#82
Biopsyman said:
The govt will also means test it.. meaning you pay in but you won’t qualify to receive if you have too much saving or bet worth.. what a fair system.. lol
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I don't see means testing SS holding up in court unless a Dem POTUS gets a few appointments.
 
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#84
#84
2 short term solutions
1. Raise retirement age
2. Increase fica cap

Long term

Eliminate fica cap
Reduce benefits
 
#85
#85
SpaceCoastVol said:
Assets?

Generally on this subject I agree with you, but I think it can get ridiculous when you start taxing assets. In NY, (and I think I have said this before) the towbars that we use to push back the airplane have license plates. Seriously?

At some point it is nothing but extortion.
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I didn’t mean to say should be taxed. Just that it is. I’m on my way to meet with that appeal board now. My total business assets are under 2000
 
#86
#86
Vol8188 said:
I didn’t mean to say should be taxed. Just that it is. I’m on my way to meet with that appeal board now. My total business assets are under 2000
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I guess what I don't understand is when/how many times are those assets taxed? Is it a yearly thing?
 
#87
#87
SpaceCoastVol said:
I guess what I don't understand is when/how many times are those assets taxed? Is it a yearly thing?
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Depends on the state and county. In Montgomery County VA they have an inventory tax, they levy a tax on all inventory a retailer has in stock on Dec 31 every year. One year the largest car dealer in the county transferred almost all of their inventory to their dealership in Pulaski County (no inventory tax) to avoid paying10s of thousands of dollars in tax.

Of course it ended up in court and the county lost after spending thousands more in fees.
 
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#88
#88
n_huffhines said:
The left? The right has the numbers to push for reform right now.
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I'd bet that it will be addressed if the Republicans hold on to the House, Senate, and POTUS through the next cycle in 2 years. There's too much other crap to fix right now. A simple majority isn't enough to get everything on the wish list easily passed. Illegal immigration, tax reform, fixing healthcare, potentially unifying Korea, getting out of the ME, reducing government interference for those wanting to build businesses, fair trade deals, and other issues are ahead of turning that massive ship in a different direction.
 
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#90
#90
Biopsyman said:
The govt will also means test it.. meaning you pay in but you won’t qualify to receive if you have too much saving or bet worth.. what a fair system.. lol
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Sickening to think about, but very realistic to happen depending on who is in the WH over the next decade.
 
#92
#92
hog88 said:
Depends on the state and county. In Montgomery County VA they have an inventory tax, they levy a tax on all inventory a retailer has in stock on Dec 31 every year. One year the largest car dealer in the county transferred almost all of their inventory to their dealership in Pulaski County (no inventory tax) to avoid paying10s of thousands of dollars in tax.

Of course it ended up in court and the county lost after spending thousands more in fees.
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Well inventory of salable items is one thing, but a freaking microwave oven in the breakroom? I know this is a ridiculous question, but are communities that hard up for tax revenue?
 
#93
#93
It's unbelievable that it got to the point that average citizens have been so stupid as to have allowed the government to take 6.2% of their wages, extort another 6.2% from their employer, and then tax it again when some of it is given back to them.
 
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#94
#94
SpaceCoastVol said:
Well inventory of salable items is one thing, but a freaking microwave oven in the breakroom? I know this is a ridiculous question, but are communities that hard up for tax revenue?
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It gets better. They asked me to estimate the value of aluminum foil, paper plates, paper towels, and napkins I had on hand.
 
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#96
#96
Thunder Good-Oil said:
It's unbelievable that it got to the point that average citizens have been so stupid as to have allowed the government to take 6.2% of their wages, extort another 6.2% from their employer, and then tax it again when some of it is given back to them.
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^^^^truth^^^ but like always it was done at the point of a gun.
 
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#99
#99
SpaceCoastVol said:
Well inventory of salable items is one thing, but a freaking microwave oven in the breakroom? I know this is a ridiculous question, but are communities that hard up for tax revenue?
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In AR they have a personal property tax on what they estimate you have in your house. So yeah.
 
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#100
#100
Vol8188 said:
It gets better. They asked me to estimate the value of aluminum foil, paper plates, paper towels, and napkins I had on hand.
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That has to be a NC or county thing. Just tell them you keep none on hand.
 
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