Recession coming

[Scott Campbell]

The social security tax is anal penetrator numero uno for the lower/middle class earner.

So abolish it altogether. Good riddance.

See now that I don't know about. There are plenty of older people who are handicapped from the lack of quality health care back then who gave their good health for our freedom in the form of WW2, Vietnam, etc.

Since the baby boomers are going to take all the money anyway, I think they should start phasing it out so that by the time the baby boomers are dying off no one in paying into it anymore.

It kind of sucks for my generation that will have paid into it and won't get anything back, but it would be a disservice for those that need it currently.

My generation is young enough that we can fund our retirements ourselves if we start today.

I didn't mean cut it off immediately. We'd have to wean off it. But what a massive waste. There should be other programs for vets injured in war. I philosophically oppose a national government sponsored mandatory retirement scheme. The government sucks at this kind of stuff. Use your 401K's and Roth’s, or just sock it away yourself.

[Partial]

The social security tax is anal penetrator numero uno for the lower/middle class earner.

So abolish it altogether. Good riddance.

See now that I don't know about. There are plenty of older people who are handicapped from the lack of quality health care back then who gave their good health for our freedom in the form of WW2, Vietnam, etc.

Since the baby boomers are going to take all the money anyway, I think they should start phasing it out so that by the time the baby boomers are dying off no one in paying into it anymore.

It kind of sucks for my generation that will have paid into it and won't get anything back, but it would be a disservice for those that need it currently.

My generation is young enough that we can fund our retirements ourselves if we start today.

I didn't mean cut it off immediately. We'd have to wean off it. But what a massive waste. There should be other programs for vets injured in war. I philosophically oppose a national government sponsored mandatory retirement scheme. The government sucks at this kind of stuff. Use your 401K's and Roth’s, or just sock it away yourself.

Agreed. Problem is how many of these 50 year olds did that knowing they'd have SS. It's now an accepted fact that my generation won't see SS, so I think we should phase it out after the people who deserve it get paid.

[Partial]

Lastly, if MIT is $40K a year, and I make $125 a year - guess what? I'll take the last 5 months off work - quitting at $75K. After taxes, it'd be a wash.

And that my friends is what people don't get. Taxing the hard working and wealthy and not offering them equal incentives to the lesser people is a horrible way of running things.

The government continually tries to bitch slap companies and successful people with high taxes. I think it'd be interesting to watch the US implode on itself if those wealthy business owners said fuck off, we're retiring and closing up shop and laid off every one of their employees.

[Scott Campbell]

Lastly, if MIT is $40K a year, and I make $125 a year - guess what? I'll take the last 5 months off work - quitting at $75K. After taxes, it'd be a wash.

And that my friends is what people don't get. Taxing the hard working and wealthy and not offering them equal incentives to the lesser people is a horrible way of running things.

The government continually tries to bitch slap companies and successful people with high taxes. I think it'd be interesting to watch the US implode on itself if those wealthy business owners said fuck off, we're retiring and closing up shop and laid off every one of their employees.

Harlan can piss and moan all he likes. He's still not going to screw people with money just so he doesn't have to work. There's always a workaround. Always. He's been whining about the low tax rates on Capital gains. That will be nothing compared to what my generation is able to do with Roth income. Picture this - I take just enough money out of my taxable IRA's so that I have lower taxable income than Harlan, and pay even less than him in taxes. The reminder of my living money comes out of my Roth - tax free. Sweet. And the sooner I retire, the sooner I get to stop paying Harlan's ridiculous inflated progressive income tax rates. So I retire. Harlan gets nothing. Neither do all the other people who could have benefited from the tax revenue I would have gladly paid had Harlan not been so greedy. In other words, Harlan screwed the masses once again. But he meant well.

Load up your Roth IRA's people. The Roth was designed to keep Harlan's grubby paws away from your hard earned cash. Your government wants you to save, and this is the carrot they gave us. And it's huge.

[MJZiggy]

I handle adversity just fine. I do what it takes to get by. I bet if you'd look at statistics of people who don't make enough money to support a family, most of them had their kids too young, and as a result weren't mature enough for their marriage to be a success, and they probably don't have a college degree let alone a masters or better degree.

I support my family just fine on my own. I did not have kids at a young age and I was most definitely mature enough to get married (not that maturity by any means defines a successful marriage) and I do have a college degree. My whole point in adding my two cents to this is that you don't seem to be able to look outside the box. Just curious, you handle adversity just fine....or haven't yet been faced with it? Huge difference.

I agree. I wasn't a kid when I got married either and for the record, my first job was one in which I worked 70 hour weeks and still didn't bring home a lot of money. And I guess this means that Partial is giving up sex entirely because he's not ready to have kids yet. It's the only failsafe method of birth control you know. I know you'll do it, too because there's a rule in life that goes something like: Never ask others to do that which you wouldn't do yourself. So next time you and your sweetie are together, you should think about putting off sex with her for the next 5 to 10 years until you're financially ready to have kids. It's the only responsible thing to do.

And to Scott. I've had money that was taxed lots, and done without money to where I wasn't taxed at all. You have it good. Quit complaining.

[Scott Campbell]

It's the only failsafe method of birth control you know.

Psst. I know a few others. Come see me in the Garbage Can.

[Scott Campbell]

You have it good. Quit complaining.

You don't need to worry about whether I quit complaining or not. I'll have it good regardless of Harlan and his ilk. You need to worry about whether I and others like me quit working or not.

[Harlan Huckleby]

The government continually tries to bitch slap companies and successful people with high taxes. I think it'd be interesting to watch the US implode on itself if those wealthy business owners said fuck off, we're retiring and closing up shop and laid off every one of their employees.

What is your evidence that the government is bitch-slapping wealthy people?

Take some time to listen to a radio program that debates the issue:

http://www.onpointradio.org/shows/2008/03/20080307_b_main.asp

[Harlan Huckleby]

You need to worry about whether I and others like me quit working or not.

How would you define this noble group of people, "I and others like me"?
IS it all employed people? Or a subset of key contributors?
Does this group include High School teachers?
Does it include the McDonald's worker?
Are unemployed people in this group?

[MJZiggy]

I wonder if everyone in this entire discussion remembers that our economy is dependent on lower income people...

Partial, because you know one dude who worked the system does not mean that everyone can do the same. And if you were flipping burgers and eating ramen every night (great nutrition--on that you better hope Mickey D's offers health coverage), I'm sure you wouldn't be thrilled with what was left over when the government got done with your check.

And for the record, since they used the surplus to start a war instead of fixing Social Security, I'm for getting rid of it too, which is sad because I paid in a lot of years money that I will never get out.

Scott, every single other method of birth control that exists has a failure rate. Every one. Including surgical methods.

[Scott Campbell]

Scott, every single other method of birth control that exists has a failure rate. Every one. Including surgical methods.

Would one of you guys rather take care of this one?

[MJZiggy]

That doesn't count--it's just not the same.

[GrnBay007]

You need to worry about whether I and others like me quit working or not.

I'm just curious, what did you mean by this?

[Harlan Huckleby]

Scott refers to the class of people who count.

[GrnBay007]

The difference between me and those who don't earn enough money is they aren't willing to do what it takes. If I have to flip burgers to make ends meet, I'll do it. If I have to wear walmart brand clothing, than so be it. If I can't go out to eat and tip 20%, than I'll eat some ramen noodles at home.

I appreciate your statements here, really, because I was there once. I think you just struck a nerve when you posted about who should and should not have children and that you shouldn't have children if you don't have a successful marriage. You may look at it as an insult, which I'm sure I would have at your age too, but seriously, with all due respect, you have SO much life to live before you should even consider judging others.