Originally Posted by OrangeBlossomBaby (Post 2442810)

I actually agree that sports should be optional and not part of any state budget. I ALSO think that there should be no such thing as "professional sports" at all. All these pro football players are recruited from schools. Schools get kickbacks. A school that doesn't produce recruits, doesn't get kickbacks. All that entire system has got to go. Right out the door. No pro sports = no high school recruits needed = no funding needed to support high school sports.

Has absolutely nothing to do with the current situation of this country, and has nothing to do with my post. I didn't play sports in college. I WORKED in college. Two part-time jobs, plus playing music in the subways for tips.

And if you have everyone learning all those things in college, who will be learning how to be doctors, dentists, nurses, and lawyers, scientists, researchers, and teachers? Who will be learning how to make clothing, and decorate homes, and create artwork and poetry? Who will learn the languages necessary to communicate with people in other countries when they go to do business deals on behalf of their corporation?

Do you want everyone to be a worker bee, with no one providing the sciences and "humanities" that make us human, and not just drones?

Originally Posted by Aces4 (Post 2442679)

That's right, those seniors are already getting a free tax ride and SS benefits. When does the government stop being responsible for everyone living the life of luxury? Let seniors go through their savings and assets and pay their way. Passing money down to children and in 5 years, the seniors get all those government goodies. I've seen it happen.

Originally Posted by Bill14564 (Post 2442789)

“Hoarding” referred to income, not unrealized gains.

At some level unrealized gains are more than speculative, they become leverage, but that is a whole other topic.

Originally Posted by jimbomaybe (Post 2442690)

Solution , don't be poor, market equites have produced over 8% over history, $200. a month investment over a working life of 35 years assuming a 6% compounded return you would have over 267 K

Originally Posted by jimjamuser (Post 2442832)

That's true, but medical bills and other unforeseeable events can ruin any savings plan. Here AGAIN the factor of LUCK comes into play.

Originally Posted by golfing eagles (Post 2442722)

The "rich"??? Who are they??? Anyone who actually contributes to society by paying taxes, donating to charities, employing others and venturing capital?????

"The reports are saying....."---what "reports"? I think we can all guess the source of that misinformation.

This class warfare rhetoric has to end. The top 5% currently pay 65% of all taxes. And that's "fair"????? Forty-seven % pay no tax----and that's "fair". But by all means let's continue the populist rhetoric that started in 1933 and has only become worse since then.

Originally Posted by Ken D. (Post 2442728)

Curious, who's too blame for folks being poor?

Originally Posted by jimjamuser (Post 2442835)

Who are today's rich ? For the most part they are people whose family were rich for generations and they went to the best schools. Yes, a small % of the rich were "self-made". The original INTENT of America was that EACH generation must make their OWN way. Inheritance tax was supposed to force that to happen. But, each generation found ways to legally and illegally overcome that basic idea of each generation starting at zero wealth. Look at today's wealthiest individuals and very few were "self-made" without prior generational wealth support.

Originally Posted by jimbomaybe (Post 2442750)

And factor in the difference between income and net worth, managing your investments to have the "income" you want the rest better positioned for growth , that by the way is a very positive thing for the economy that benefits everyone. The old adage is proven again and again " A fool and his money are soon parted". Those who have large wealth did something right to acquire that wealth , buy financing good ideas that grow the economy via productive enterprises , productivity, efficiency are why we have historically the highest standard of living for everyone

Originally Posted by jimjamuser (Post 2442836)

Birth defects for one factor. Poor health for another.

Originally Posted by jimjamuser (Post 2442828)

A fair and equitable government would NEVER stop being responsible for every one living a life to the best of their ability. A government of a Democracy should be willing to care for "the least among us". The idea is to tax the successful in order to provide minimal housing and food for the unsuccessful. Some people are born with birth defects and low intellect. That is no fault of their own. Being rich or even above average is a combination of LUCK and hard work.

Originally Posted by thekatman (Post 2442815)

The $6000 is adjusted downward after $175,000 when filing married jointly. And zeroes out at $250k.

Originally Posted by jimjamuser (Post 2442840)

Actually, US standard of living is only about 20th in the world. The top 10 is dominated by Scandinavian Countries. It is easy to look up.

Originally Posted by OrangeBlossomBaby (Post 2442793)

We were doing that. And then, just over a year before spouse was going to retire from a mostly-obsolete skilled labor job he'd been doing for over 40 years, his company shut down the department. He was out of work, with zero income, and not old enough yet for social security. The mortgage company continued needing their payments. We put the house on the market, and it wasn't until a year later that it finally sold.

We had almost nothing left, at that point.

And, 35 years prior, neither of us was earning enough to put away $200/month. People with high-paying jobs are completely oblivious to what people with modest incomes have to go through in life.

To wit: 35 years prior to spouse's forced retirement, we hadn't even met. 35 years to spouse's retirement, it was 1984 and I was still a student in college, working two part-time jobs and busking in the subways of Boston to pay rent while I attended school full time. A year later I was working two other part time jobs, searching for full time work, and started paying back my student loans.

There was ZERO to save during these early years. I swear so many people I meet are just SO out of touch with the reality of working class America it's disheartening.