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Originally Posted by Debfrommaine
Co-worker of mine at work might have figured it out. They are using the child tax credits they don't need to purchase more bitcoin. They hope to retire in their 50's. Not sayin' qualified families don't need the monies but this was an interesting concept to adding to retirement.
I'm in my golden years still working. Never had a kid and don't know much about bitcoin. The millennials might be on to something.
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Everyone has the same view. Tax them and give to me. Covid 19 checks because SOME people could not work were sent to everyone who qualified, including people in the villages who have not worked in years.
Having worked and saved. I was an overnight success it only took me 45 years of hard work and saving, I did not qualify for a covid check. I will once again be forced to pay for it.
Social Security-first of all I was self employed. For people who work for an employer, you pay roughly 7% to social security. Your employer pays the same for you-essentially tax free income. I paid 13% being self employed. People do not understand there is no pile of money with your name on it to pay your benefits. The money we put in went to pay the benefits paid to those who retired before we did-it is spent. When originally past there were, if I recall from my reading 14 people paying in for every person collecting. Today it is 2.5 and the benefits keep going up with insufficient social security tax to cover it.
I predict they will soon pass a bill, hey you saved, you don't need social security. I will scream, but I paid in the top amounts. Reply will be TOUGH. We are already seeing this with medicare some people pay twice as much for the same benefit and do not have a cap on what they will/can extract from you.
Bit coin. I am not buying it. The reality is interesting. No one knows who started it. The name applied does not even exist. There are guesses. It is not sure if it is a man or a woman or perhaps a group of people. You can make money as it a highly volatile. I would suggest all read about the Tulip bulb ponzi scheme of 300 years ago. People also made huge sums with that. It suddenly evaporated. Teasing a little. Tulips do not grow well in Florida.