Quote:
Originally Posted by huge-pigeons
I’m tired of hearing if you have money, you need to share it. Most people who have money when they retire worked hard and long hours during their working years. And these same people did the right thing and invested a lot of their money during those years for the future instead of partying and overspending. Now, the have nots want to condemn the people that did the right thing.
Socialism/robbing Peter to pay Paul does not work and will never work. ACA is the worst thing that was ever created, ask around.
As for taxes, your goal every year for your whole life is to pay the least amount of taxes legally. If you want to pay more, there is a line that lets you add more taxes to your return. Same for social security, we all paid SS taxes during our working years and now we are double taxed on these distributions which is unfair. Hopefully that will change.
Everyone got a tax reduction 5 or 6 years ago. Somebody mentioned the rich only pay 20% tax, that is huge. If you make $1M a year, they will be paying $200,000 in taxes, this is a huge amount of money.
We should implement a flat tax of 10% for everybody, no deductions, no loopholes, and we would have much more money coming in for the government to spend foolishly.
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Many of those tax cuts, if not all them, are set to expire in 2025-26 because they were passed in Budget Reconciliation to avoid the Senate filibuster rule. The amount these tax cuts increased the national debt was so large that they had to make them temporary in order to stay within Reconciliation rules. Extending them or making them permanent will add trillions more to the national debt. It will be interesting to see what happens as this will be one of the first things Congress has to tackle after the 2024 Presidential election. The Reps from both parties from many states which have high income or property taxes will not vote to extend the State and Local Tax (SALT) deduction limit of $10,000 no matter what.
As for the ACA, it is most certainly not the worst thing ever, in fact it now has public approval polling over 50%. The worst thing ever might be tying health insurance to your job. Without the ACA, tens of millions of people would have no health insurance at all. There are a lot of folks who decided to retire before age 65 who relied on the ACA to get them to Medicare-eligibility.