Chef Jim Posted March 29, 2022 Share Posted March 29, 2022 2 minutes ago, Over 29 years of fanhood said: Always the extremes with you. I will not pass on generational wealth to them, even if I get there, no. Have you written them out of your will yes or no? Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted March 29, 2022 Share Posted March 29, 2022 2 minutes ago, Chef Jim said: Have you written them out of your will yes or no? I probably need to get around to putting one of those together Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2022 Share Posted March 29, 2022 Just now, Over 29 years of fanhood said: I probably need to get around to putting one of those together That and a proper estate plan. And do your kids a favor. Pass on as much of your wealth tax free to them you can. And you should feel the same towards the extreme wealthy. You come across as jealous and bitter towards the very wealthy. Not saying you are you just sound that way here. There already is a mechanism in place to tax their estates upon their death. It's currently at 40% of the value of the estate, not even the net value. So it's taxed leveraged or not. But you want to pile on a unrealized cap gains tax on top of that. Why? So the government can fritter it away? Line their pockets. You strike me as someone in the center who leans a little right. So based on that who would you rather get the money? The families or the government? For me given the choice the government can go pound sand. 2 Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted March 30, 2022 Share Posted March 30, 2022 2 minutes ago, Chef Jim said: That and a proper estate plan. And do your kids a favor. Pass on as much of your wealth tax free to them you can. And you should feel the same towards the extreme wealthy. You come across as jealous and bitter towards the very wealthy. Not saying you are you just sound that way here. There already is a mechanism in place to tax their estates upon their death. It's currently at 40% of the value of the estate, not even the net value. So it's taxed leveraged or not. But you want to pile on a unrealized cap gains tax on top of that. Why? So the government can fritter it away? Line their pockets. You strike me as someone in the center who leans a little right. So based on that who would you rather get the money? The families or the government? For me given the choice the government can go pound sand. Not bitter and have no problem with people getting rich, but how much is enough?? I don’t like the control elites have, and I have zero faith anyone is going to fix govt spending problem. It is sad that there are good people that work their ass off 2 or 3 jobs to make ends meet while elites drink a bottle of wine worth more than the food that person’s family eats for a year. Where is the humanity in that? The wealth distribution is out of whack. It’s broken. I used to be hard core conservative… eff everyone else, everyone for themselves, if your poor it’s because you’re lazy. I guess as I moved on in my life and career I started empathizing more with people that have it harder. At the same time I started seeing first hand that the wealthy and getting wealthier don’t alway work so hard, maybe they did once… maybe they are good at schmoozing and partying with other richies, maybe they can sell ice to Eskimos, maybe they can see a way to generate money out of thin air. And even for myself, I put in the time, but I don’t grind like i did fresh out of school 20 years ago. But the annual jumps now are bigger that my paycheck was back then. 1 Link to comment Share on other sites More sharing options...
Precision Posted March 30, 2022 Share Posted March 30, 2022 35 minutes ago, Chef Jim said: That and a proper estate plan. And do your kids a favor. Pass on as much of your wealth tax free to them you can. And you should feel the same towards the extreme wealthy. You come across as jealous and bitter towards the very wealthy. Not saying you are you just sound that way here. There already is a mechanism in place to tax their estates upon their death. It's currently at 40% of the value of the estate, not even the net value. So it's taxed leveraged or not. But you want to pile on a unrealized cap gains tax on top of that. Why? So the government can fritter it away? Line their pockets. You strike me as someone in the center who leans a little right. So based on that who would you rather get the money? The families or the government? For me given the choice the government can go pound sand. There's a lot of problems with the wealth tax but this is the biggest. If you own a lot of non-liquid assets the heirs are forced to sell somewhat quickly in order to pay the tax. This is especially problematic for assets like real estate where sales aren't instantaneous and market conditions can significantly impact the sales price. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 30, 2022 Share Posted March 30, 2022 12 minutes ago, Over 29 years of fanhood said: Not bitter and have no problem with people getting rich, but how much is enough?? I don’t like the control elites have, and I have zero faith anyone is going to fix govt spending problem. It is sad that there are good people that work their ass off 2 or 3 jobs to make ends meet while elites drink a bottle of wine worth more than the food that person’s family eats for a year. Where is the humanity in that? The wealth distribution is out of whack. It’s broken. I used to be hard core conservative… eff everyone else, everyone for themselves, if your poor it’s because you’re lazy. I guess as I moved on in my life and career I started empathizing more with people that have it harder. At the same time I started seeing first hand that the wealthy and getting wealthier don’t alway work so hard, maybe they did once… maybe they are good at schmoozing and partying with other richies, maybe they can sell ice to Eskimos, maybe they can see a way to generate money out of thin air. And even for myself, I put in the time, but I don’t grind like i did fresh out of school 20 years ago. But the annual jumps now are bigger that my paycheck was back then. I hear ya. As I've aged I've had more empathy. Now I don't capitalize the EFF OFF....it's eff off. And as a planner it's never enough. 11 minutes ago, Precision said: There's a lot of problems with the wealth tax but this is the biggest. If you own a lot of non-liquid assets the heirs are forced to sell somewhat quickly in order to pay the tax. This is especially problematic for assets like real estate where sales aren't instantaneous and market conditions can significantly impact the sales price. Due 90 days in cash. Some transactions take 90 days just to pull the paperwork together let alone get the transaction completed. Why I mentioned fire sale up thread. I had a plan to market to the wineries in Napa and Sonoma. Imagine their tax nightmare. What do the kids do? Sell a few rows of Cabernet to pay the tax? I figured it was a great way to make good money and get some free wine. Well I quickly found out I had been long beaten to the punch. Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 I’m never going to tell anyone that they have ‘enough’. We’re Americans! In comparison to most of the world we ALL have way more than ‘enough’. So since it’s not for me to say, I don’t give it even a second’s thought. So long as they’ve amassed their estate legally, then who’s to say what’s enough…not me, that’s for sure. Just live your life! Money doesn’t buy happiness. It never has. And sprinkling their estate out across the masses will have zero impact on the happiness of any of the folks it’s sprinkled on. 1 1 Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted March 30, 2022 Share Posted March 30, 2022 2 hours ago, SoCal Deek said: I’m never going to tell anyone that they have ‘enough’. We’re Americans! In comparison to most of the world we ALL have way more than ‘enough’. So since it’s not for me to say, I don’t give it even a second’s thought. So long as they’ve amassed their estate legally, then who’s to say what’s enough…not me, that’s for sure. Just live your life! Money doesn’t buy happiness. It never has. And sprinkling their estate out across the masses will have zero impact on the happiness of any of the folks it’s sprinkled on. Used to see things that way too. Travel the world, see real suffering… then come back and explain why YOU are so deserving of your superior lifestyle. You think you work harder than an 11 year old in a sweatshop with a starving family? Or maybe you are just ‘smarter’ … the despairty between the top and the bottom is too far Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 9 hours ago, Over 29 years of fanhood said: Used to see things that way too. Travel the world, see real suffering… then come back and explain why YOU are so deserving of your superior lifestyle. You think you work harder than an 11 year old in a sweatshop with a starving family? Or maybe you are just ‘smarter’ … the despairty between the top and the bottom is too far I’m not going to argue with you. We actually agree there. Where we disagree is that I don’t think it’s the US federal government’s role to correct that condition. And it’s definitely not when I’m done on this world and can no longer defend myself. If you want to eliminate or reduce the disparity, go right ahead, and do so voluntarily. I’ll be the first to applaud you for it. There are many in this world who do just that every day. 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 30, 2022 Share Posted March 30, 2022 11 hours ago, Over 29 years of fanhood said: Used to see things that way too. Travel the world, see real suffering… then come back and explain why YOU are so deserving of your superior lifestyle. You think you work harder than an 11 year old in a sweatshop with a starving family? Or maybe you are just ‘smarter’ … the despairty between the top and the bottom is too far If you think the governmental “redistribution” is going to help the poor I have one question. With the trillions and trillions of dollars collected by said government why have the number of poor and homeless only seems to have grown? Deserve my superior lifestyle? No I earned it. It’s an unfair world. Always has been always will be. Keep as much of yours as you can and make your and your family’s world as happy and comfortable as possible. They government doesn’t care about you. 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 21 minutes ago, Chef Jim said: If you think the governmental “redistribution” is going to help the poor I have one question. With the trillions and trillions of dollars collected by said government why have the number of poor and homeless only seems to have grown? Deserve my superior lifestyle? No I earned it. It’s an unfair world. Always has been always will be. Keep as much of yours as you can and make your and your family’s world as happy and comfortable as possible. They government doesn’t care about you. I'll add one point to an otherwise awesome post. If you really feel that you have too much, then by all means give it all away, and leave the rest of us alone. There's no law stopping you from paying more than what you 'owe' each and every year. Knock yourself out! 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 30, 2022 Share Posted March 30, 2022 3 minutes ago, SoCal Deek said: I'll add one point to an otherwise awesome post. If you really feel that you have too much, then by all means give it all away, and leave the rest of us alone. There's no law stopping you from paying more than what you 'owe' each and every year. Knock yourself out! And I'm pretty sure it's safe to say that many of the billionaires that 29 years of fanhood is railing against are some of the most philanthropic people out there. Taxing the daylights out of inheritances. BTW I was at a concert in Golden Gate Park for the 50th Anniversary of Woodstock. There were a bunch of people around this "rapping table" Someone said "they should legalize marijuana and tax the ***** out of it!" I put the brakes on, pulled up and "chair" and said "why tax it to death?? This is the first words out of your mouth when it comes to legalization?? Man the hippies sure have changed. In my day we would have said "legalize it because it's a ***** weed!" As Peter Tosh sang. Legalize it Don't criticize it Legalize it, yeah yeah And I will advertise it Some call it tamjee Some call it the weed Some call it marijuana, daya Some of them call it ganja Never mind, got to legalize it And don't criticize it Legalize it, yeah yeah And I will advertise it Singers smoke it And players of instrument too Legalize it, yeah yeah That's the best thing you can do Doctors smoke it Nurses smoke it Judges smoke it Even lawyer, too So you've got to legalize it And it don't criticize it Legalize it, yeah yeah And I will advertise it It's good for the flu Good for asthma Good for tuberculosis Even numara thrombosis Go to legalize it Don't criticize it Legalize it, yeah yeah And I will advertise it Birds eat it Ants love it Fowls eat it Goats love to play with it So you've got to legalize it And it don't criticize it Legalize it, yeah yeah And I will advertise it Keep on telling you legalize it Link to comment Share on other sites More sharing options...
B-Man Posted March 30, 2022 Share Posted March 30, 2022 YOU GET MORE OF WHAT YOU SUBSIDIZE: How Mississippi Flipped the Script on the Labor Shortage. In early 2021, Mississippi faced the worst labor shortage in state history. By late spring, the situation had only worsened. There were a record-high 84,000 jobs open throughout the state — more open jobs than people actually looking for work. There were still nearly 80,000 Mississippians collecting unemployment benefits — more than 10 times as many than before the pandemic struck. And Mississippi businesses desperately needed workers. The cause of this was simple: Federal unemployment expansions and bonuses were paying people more money to stay at home than they could make working. The solution to these woes plaguing our state was also simple. Governor Tate Reeves saw the need for swift action and, in June, Mississippi became one of the first states nationwide to opt out of these expansions and bonuses months before they were set to expire. The results have been tremendous. https://www.realclearpolicy.com/articles/2022/03/29/how_mississippi_flipped_the_script_on_the_labor_shortage_824133.html Link to comment Share on other sites More sharing options...
Westside Posted March 30, 2022 Share Posted March 30, 2022 19 hours ago, Chef Jim said: That's asinine! It would be a huge boon for the life insurance industry. I was just in Amelia island and took a boat tour that pointed out all the land the Rockefeller's owned and still own at least four generations later. I’m not saying take anything away from them, I’m saying that just because they won the lottery when it comes to families, that they should keep given the perks of being rich just because of DNA. Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 41 minutes ago, Westside said: I was just in Amelia island and took a boat tour that pointed out all the land the Rockefeller's owned and still own at least four generations later. I’m not saying take anything away from them, I’m saying that just because they won the lottery when it comes to families, that they should keep given the perks of being rich just because of DNA. Won the lottery? You didn’t build that. 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 Everyone comes at this issue from a different angle, but I'll never buy into the concept that anyone's estate should magically revert back to the State upon their demise. For myself, I came from virtually nothing. The estate I've amassed was created from a ton of hard work and with the love and support of a dedicated family. For every story like mine there are thousands who squandered/spent every dime they made along the way. (I have a few business partners who live just that way.) Some on here promote the idea that the government should come in and say "thanks for playing, we'll take over from here". Why? On who's authority? I gave the government their required share each step along the way. They're supposed to be providing services to me....not the other way around. What did they do with their annual cut? Did they save and/or invest it...like I did? Or, did they squander it, like so many do? I'll answer it for you: They squandered it! 2 1 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 30, 2022 Share Posted March 30, 2022 1 hour ago, Westside said: I was just in Amelia island and took a boat tour that pointed out all the land the Rockefeller's owned and still own at least four generations later. I’m not saying take anything away from them, I’m saying that just because they won the lottery when it comes to families, that they should keep given the perks of being rich just because of DNA. We've been to St John close to 10 times and absolutely love it! Mainly because due to the Philanthropy of the Rockefellers most of the island is national park. Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 30, 2022 Share Posted March 30, 2022 If you’ve never watched it, I highly recommend the History Channel series on the Foods, Cars, Toys etc That Built America. The hour long docu dramas are really well done! It’ll give you an appreciation for the inventor generation that created so much of what we take for granted today. Great stuff! As an example, the guy who invented The Slinky toy made one by mistake in his garage and went on to become a multimillionaire. He then squandered everything and left his family to become a missionary. It was his then destitute wife who created the famous Slinky Jingle that we all know, and she rebuilt the family fortune. 1 Link to comment Share on other sites More sharing options...
aristocrat Posted March 31, 2022 Share Posted March 31, 2022 This is fantastic. Trump passes bill, Biden reverses it, House reinstates it...Dems declare victory. 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 31, 2022 Share Posted March 31, 2022 12 minutes ago, aristocrat said: This is fantastic. Trump passes bill, Biden reverses it, House reinstates it...Dems declare victory. Political SOP my friend. 😏 Link to comment Share on other sites More sharing options...
Doc Posted March 31, 2022 Share Posted March 31, 2022 48 minutes ago, aristocrat said: This is fantastic. Trump passes bill, Biden reverses it, House reinstates it...Dems declare victory. Maybe a victory in the eye of low information individuals. Link to comment Share on other sites More sharing options...
B-Man Posted March 31, 2022 Share Posted March 31, 2022 These Democrats want us in economic misery. Why? Because they care so much about ordinary Americans! More proof that higher gas prices are intentional… Link to comment Share on other sites More sharing options...
Doc Posted April 1, 2022 Share Posted April 1, 2022 “Let’s release it from the strategic reserves, import it and use it, but God forbid we produce it.” 1 Link to comment Share on other sites More sharing options...
aristocrat Posted April 1, 2022 Share Posted April 1, 2022 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted April 1, 2022 Author Share Posted April 1, 2022 1 Link to comment Share on other sites More sharing options...
Buffarukus Posted April 1, 2022 Share Posted April 1, 2022 3 hours ago, Big Blitz said: i never thought a man could afford a closet full of scarfs to wear in warm weather or 10 dollar a cup "coffee" addiction either. all things seem possible through liberalism. 1 Link to comment Share on other sites More sharing options...
B-Man Posted April 1, 2022 Share Posted April 1, 2022 The jobs report was so awesome that Biden wouldn’t take any questions about it Link to comment Share on other sites More sharing options...
B-Man Posted April 2, 2022 Share Posted April 2, 2022 Yep, that about explains it! And of course most people aren’t buying the Biden administration’s disingenuous “jobs created” BS when they are in fact jobs restored after shutdowns. 1 Link to comment Share on other sites More sharing options...
B-Man Posted April 5, 2022 Share Posted April 5, 2022 THAT’S NOT EVEN CLOSE TO HIS PERSONAL BEST: It Took Just Four Days For Biden’s Oil Price Scheme To Go Up In Smoke. The Brent crude index, the global oil benchmark, increased to $108.07 per barrel Monday morning, surging more than 3.1% overnight. The U.S. WTI index skyrocketed more than 3.4% past $103 per barrel Monday. “Will the release of barrels from strategic reserves fill a shortfall caused by sanctions and buyer aversion to Russian oil? In a word, no,” Stephen Brennock, an analyst at PVM Oil Associates, told Reuters. Biden announced Thursday that he ordered the Department of Energy to release a million barrels of oil stored in the Strategic Petroleum Reserve (SPR) every day for six months. The following day, the International Energy Agency said its 31 member nations pledged their own separate release of 62.7 million additional barrels of oil. The US uses about 18 million barrels of oil each day, and every trader knows that at some point we’ll have to refill the SPR. https://dailycaller.com/2022/04/04/joe-biden-strategic-petroleum-reserve-oil-gasoline-prices/ Link to comment Share on other sites More sharing options...
ALF Posted April 5, 2022 Share Posted April 5, 2022 Fed needs to provide long term incentives to energy companies to produce enough oil and gas or tax the hell out of there profits. Link to comment Share on other sites More sharing options...
B-Man Posted April 8, 2022 Share Posted April 8, 2022 Just throw money at it ! -- House democrats. Link to comment Share on other sites More sharing options...
ALF Posted April 8, 2022 Share Posted April 8, 2022 (edited) 10 hours ago, B-Man said: Just throw money at it ! -- House democrats. Not likely to pass in the Senate because of inflation. House D know they are toast in midterms so will try this way. Lockdowns in Shanghai and other Chinese cities pose a growing threat to the economy Hong Kong (CNN Business)China's unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation. Shanghai — home to China's leading financial center and some of its largest sea and airports — has been under lockdown for 12 days, and there's no sign of it ending. https://www.cnn.com/2022/04/08/business/china-shanghai-covid-lockdown-economic-impact-intl-hnk/index.html Edited April 8, 2022 by ALF 1 Link to comment Share on other sites More sharing options...
B-Man Posted April 9, 2022 Share Posted April 9, 2022 On 4/8/2022 at 12:33 AM, ALF said: Lockdowns in Shanghai and other Chinese cities pose a growing threat to the economy Hong Kong (CNN Business)China's unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation. Shanghai — home to China's leading financial center and some of its largest sea and airports — has been under lockdown for 12 days, and there's no sign of it ending. https://www.cnn.com/2022/04/08/business/china-shanghai-covid-lockdown-economic-impact-intl-hnk/index.html The possibility for violence increases. 1 Link to comment Share on other sites More sharing options...
B-Man Posted April 11, 2022 Share Posted April 11, 2022 Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death. Check out what she had to say at today’s press briefing about inflation numbers: A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over. https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/ Link to comment Share on other sites More sharing options...
BuffaninSarasota Posted April 11, 2022 Share Posted April 11, 2022 5 minutes ago, B-Man said: Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death. Check out what she had to say at today’s press briefing about inflation numbers: A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over. https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/ aka the "Putin price hike" Joe is fond of saying. Their hubris knows no bounds. 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted April 11, 2022 Author Share Posted April 11, 2022 (edited) 1 hour ago, B-Man said: Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death. Check out what she had to say at today’s press briefing about inflation numbers: A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over. https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/ These people and their voters are such f...ing trash FYI - I fully expect it to come in *lower* and they'll claim it as some sort of win, for you, the little people. Edited April 11, 2022 by Big Blitz 1 1 Link to comment Share on other sites More sharing options...
B-Man Posted April 12, 2022 Share Posted April 12, 2022 U.S. Inflation Quickens to 8.5%, Ratcheting Up Pressure on Fed Consumer prices rose 1.2% from February, half due to gasoline Food, shelter, airfares stay elevated in broad-based gain https://www.bloomberg.com/news/articles/2022-04-12/u-s-inflation-quickens-to-8-5-ratcheting-up-pressure-on-fed Link to comment Share on other sites More sharing options...
leh-nerd skin-erd Posted April 12, 2022 Share Posted April 12, 2022 On 3/29/2022 at 1:24 PM, Chef Jim said: I would assume the unrealized losses would be used to offset the unrealized gains. 🤷🏻♂️ It would be a total accounting cluster *****. The amount of accounting work that would be required on an annual basis to determine current market value vs basis for these wealthy people would be crazy. And the amount of accounting shenanigans that will likely go on? They don’t think before they throw this ***** out there. So instead of bitching I have ideas. First get rid of the step up in basis. You inherit the basis. So if/when you sell the asset you pay gains from when the asset was originally purchased. No more inter-generational wealth being passed on via the step up. Second bring back the stretch IRA that the Trump administration did away with. There are so many flaws in this. I understand the reasoning was to collect tax dollars today instead of spreading it out over a lifetime. But again, so many issues with this. Third incentivize Roth conversions. This would alleviate the taxes lost by bringing back the stretch. Not sure how you incentivize them other than education. But they are a great tool. Amazing the thoughts that come from a guy with a career in the financial sector. The governmental scam-a-lam on a traditional IRA eludes many people. Save pennies now, get taxed on the whole nut later. Better than a stick in the eye, but a pretty nice source of tax revenue for the government. I know a fellow who converted his traditional IRAs over a couple years about 10 years ago. Tax bill was about $800k. Best move he ever made, he said. Meanwhile, one leg of the Dems plan to incentivize investment in one’s future is to erase the debt incurred by said people in search of enlightenment who prefer to spend their money on other things. Brilliant. 1 1 Link to comment Share on other sites More sharing options...
Tiberius Posted April 12, 2022 Share Posted April 12, 2022 15 hours ago, Big Blitz said: These people and their voters are such f...ing trash FYI - I fully expect it to come in *lower* and they'll claim it as some sort of win, for you, the little people. No, you guys are the filth. Garbage people you are Link to comment Share on other sites More sharing options...
B-Man Posted April 12, 2022 Share Posted April 12, 2022 As Prices Rise Americans Turning to Their Credit Cards. 'Consumer debt rose at the fastest pace in 20 years in February.” https://schiffgold.com/key-gold-news/as-prices-rise-americans-turning-to-their-credit-cards/ Link to comment Share on other sites More sharing options...
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