When I taught and was a principal in Illinois, no Social Security contributions were taken out of my payroll nor did the school district contribute to Social Security on my behalf. What was taken out of my salary was my pension contribution of 8.5% which was supposed to be matched by the State - but never really was at the percentage required by statute. But I always had part-time jobs which did take out SS each payroll which is why I collect Social Security.
But most teachers and administrators are not eligible for SS Benefits because they never contributed to the fund. They are the ones who would be hurt the most by a default of the pension system and the severe debt the State has which is teetering on bankruptcy due to 45 years of the Illinois legislature not adequately funding pensions and putting that money into other programs or to pay off debt.
If you are going to maintain SS as a benefit, everyone should be required to contribute to the fund.
Interesting. Much bigger payouts because Feds. aren't sneaking in and taking the money for pork barrel spending, then telling us the plan is bankrupt. Because they couldn't get their hands on the money, a plan like this would never replace SS.
This is never talked about much, but the big hit for lower income people is the social security taxes. You only pay on around the first $100,000 or so of income. So if all those rich people saying they should be paying more taxes, they should just start paying SS taxes on all their income.
The problem is that SS taxes are only assessed on earned income, most wealthy people earn their money passively in the order of capital gains, dividends and the like.
There are still plenty of people making over $130K in "earned" income (regularly employed top professionals). With just one person making say $200K of SS eligible income (airline pilot, lawyer, elite engineer, doctor, manager, etc.), the additional 12.6% (employee plus employer) on 70 grand over current SS limit could cover payment deficits for scores of people who had low wages, but the system won't even be able to cover what was promised to them. Taking this example, people who make $35K of SS income would get about $1500/month, so if we say have 25% deficit in SS, it means $375 missing for this guy. Therefore one $200K guy who adds 9 grand more than now (12.6 percent of 70 thousand) would cover 25 percent SS deficit for 25 people. That's not a terrible math, if you ask me. This is just an example, we can all discuss whether we should have made that promised at the first place or how much money politicians squandered, or how was the fund run, but it won't change the facts the promise was made and is still being made today, and it won't be kept if we don't do something. BTW, this is also about me - I'm currently not quite this "200K guy", but my last paycheck or two do not get taxed for SS and the income is still raising slightly faster than the cap, so it's real issue to me. I'm willing to let that money go (and get no financial credit for it), provided that there are bunch of other things done, too. I just wish somebody broke this issue down publicly the way I just did, without all that "eat the rich", or "hands of my muny, I paid 'nugh" hysteria, present on both sides of the argument.
I am definitely doing my part to subsidize Social Security. As a self-employed contractor, I pay my half of the social security (6.3%), the employers part (another 6.3%), and then 2.6% for medicare. So the government gets 15.2% of every dollar I earn, BEFORE you start talking about income tax. I pay my taxes quarterly, and save 36% of every dollar to send off to Uncle Sam.
Now don’t get me wrong, I am not bitter about this. I knew all of the numbers before I started working as a self-employed contractor. I just negotiated my hourly rate based on how much I knew would be left for me.
It is what it is, complaining doesn’t help. Knowledge is power, work within the system, and make the system work for you.
I am definitely doing my part to subsidize Social Security. As a self-employed contractor, I pay my half of the social security (6.3%), the employers part (another 6.3%), and then 2.6% for medicare. So the government gets 15.2% of every dollar I earn, BEFORE you start talking about income tax. I pay my taxes quarterly, and save 36% of every dollar to send off to Uncle Sam.
Now don’t get me wrong, I am not bitter about this. I knew all of the numbers before I started working as a self-employed contractor. I just negotiated my hourly rate based on how much I knew would be left for me.
It is what it is, complaining doesn’t help. Knowledge is power, work within the system, and make the system work for you.
This means you're actually paying yourself an honest salary. Unfortunately there are plenty of people who are also running their business, but show no income for tax purpose, but still having good life (essentially find ways to charge the company for their life). My friend's wife worked for a personal injury attorney who often sees this, when people put a claim and suddenly it shows up they have no "lost income" to speak of, yet they had a nice life before the accident.
This is never talked about much, but the big hit for lower income people is the social security taxes. You only pay on around the first $100,000 or so of income. So if all those rich people saying they should be paying more taxes, they should just start paying SS taxes on all their income.
The problem is that SS taxes are only assessed on earned income, most wealthy people earn their money passively in the order of capital gains, dividends and the like.
There are still plenty of people making over $130K in "earned" income (regularly employed top professionals). With just one person making say $200K of SS eligible income (airline pilot, lawyer, elite engineer, doctor, manager, etc.), the additional 12.6% (employee plus employer) on 70 grand over current SS limit could cover payment deficits for scores of people who had low wages, but the system won't even be able to cover what was promised to them. Taking this example, people who make $35K of SS income would get about $1500/month, so if we say have 25% deficit in SS, it means $375 missing for this guy. Therefore one $200K guy who adds 9 grand more than now (12.6 percent of 70 thousand) would cover 25 percent SS deficit for 25 people. That's not a terrible math, if you ask me. This is just an example, we can all discuss whether we should have made that promised at the first place or how much money politicians squandered, or how was the fund run, but it won't change the facts the promise was made and is still being made today, and it won't be kept if we don't do something. BTW, this is also about me - I'm currently not quite this "200K guy", but my last paycheck or two do not get taxed for SS and the income is still raising slightly faster than the cap, so it's real issue to me. I'm willing to let that money go (and get no financial credit for it), provided that there are bunch of other things done, too. I just wish somebody broke this issue down publicly the way I just did, without all that "eat the rich", or "hands of my muny, I paid 'nugh" hysteria, present on both sides of the argument.
Great write your congressman with the idea.
Consider this, someone makes $200k at two employers. Both employers withhold SS tax on all the income. When this person files their taxes they will get a refund of the overpaid SS taxes but the two employers will not get any refund for excess taxes.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
But rich people don’t get a SS payment proportional to what they pay in whereas very poor people get a minimum benefit beyond what they contribute. As a person on the lower end of the scale I certainly don’t mind that but you can reach a point where the tax just becomes a redistribution of wealth.
One thing to remember is that social security is levied on earned income only and if you look back at tax history you know that rich people are very adept at structuring income so it isn’t considered earned income. When federal tax rates were 70-90% the very wealthy paid about the same percentage of their total income as they do now.
I take exception against calling income "earned" or "unearned". I understand the genesis of this distinction, as the income is based on exchanging direct labor service to money, but I just hate the word "unearned". It's one step to "undeserved". Regarding levying SS tax on income over $132.9K (2019), there is an "social solidarity" argument to be made, especially in face of its imminent insolvency of the system in the next decade or so. I'm not completely unsympathetic to it, as a practical matter we'll have to choose pretty soon, anyway, between cutting the benefits or raising this tax on more than just "the rich". However, my blood just boils every time I hear the "fair share" crap. It's one thing to say "I need more, please, and thank you by the way", completely another "pay your fair share, you freeloader, BTW you won't get any credit for amount over this", even if the final effect is the same.
Social Security deductions from payroll should be considered a “tax” rather than a contribution to the system for future benefits - isn’t that what it actually is - a TAX? It used to be called OASI (Old Age and Survivors Insurance) or “insurance”,
If it is/was insurance, one would assume that the higher your premiums, the more you would receive as a benefit. But what is “more”? I know people and family members who paid hundreds of thousands of dollars into the system but will receive less than they and their employers paid into the system in their retirement years.
I agree with those who believe this is another form of wealth distribution - a socialist term. But that is how it was initially set up - to redistribute wealth - during the FDR years.
We live in a “Mixed Capitalism Economy” meaning part social programs, part governmental regulations to keep capitalism from running amok, and capitalism which enables members of society to earn whatever they can (corporations as well).
It’s been like this in our beloved USA since the crash of 1929. Before that, the barons of industry did what they wanted and earned what they could almost unchecked.
It it is what it is!
P.S. This is not a political statement - just a set of facts to better understand our existing economy.
Consider this, someone makes $200k at two employers. Both employers withhold SS tax on all the income. When this person files their taxes they will get a refund of the overpaid SS taxes but the two employers will not get any refund for excess taxes.
Interesting loophole, favoring SSA. Didn't know about this one. So more money is already going to the system than "intended" as looking at the caps. I wonder how many people get two separate jobs amounting into combined $130K+.
Heck, the country has become so divided that maybe it would be better to break into several separate countries. It just gets tiring listening to all the infighting these days.
Stick, all I'll say about the new tax code is that its reduction impacts are far greater for the wealthy and it certainly didn't eliminate any of the tax advantaged real estate developer loopholes - big surprise.
Well considering that as much as 40% or more of wage earners pay no income tax, the lower 50% pay less than 4% of all income taxes collected and the upper 1% pay more than the lower 90% it's hard to do a tax cut that doesn't impact the rich more than the middle and lower classes.
Tax cut to impact middle and lower classes more? Easy.
1) Eliminate sales tax. 2) Eliminate property tax for homes under $500,000. 3) Eliminate citation/ticket fines. 4) ELIMINATE ALL DMV FEES (LICENSE/REGISTRATION/DRIVER'S LICENSES) 5) Eliminate gas taxes.
Done!
This is never talked about much, but the big hit for lower income people is the social security taxes. You only pay on around the first $100,000 or so of income. So if all those rich people saying they should be paying more taxes, they should just start paying SS taxes on all their income.
The problem is that SS taxes are only assessed on earned income, most wealthy people earn their money passively in the order of capital gains, dividends and the like.
If one is YOUNG, the last part of the last paragraph are really on the “LIFE” test/s! CG & D & “the like” are great sources of income, whether or not one draws a pension &/or social security & the like in retirement.
Anybody, can run the numbers on a Google searched (financial) compound interest tables.
So let me leave one with a car survey item (not my numbers). The average age of a (new) car owner is 44 years old. Hmmmmmm.
So even 40 (-50) years ago, the numbers revealed “the only way to afford” a (new) car was to run @ least one business. If one is adverse to running a business, having auto write off/s on rental real estate is another way
There are financial news network specials on Warren Buffett. But the upshot is that WB’s wife puts in $3 to $5 in his new (now older) Cadillac. He can then drive & buy his McDonald’s breakfast, on the way to work.
The point here being: one of the richest persons on the planet, a multi billionaire bought ONE Caddie from a local dealer & drives only ONE car and drives it himself. Does he write it off? Maybe he writes it off, maybe not. My money is on, ...he does?
Social Security tax became a Congressional piggy bank years ago, but Congress wants to make recipients feel guilty for taking the current benefits in preparation for possible need to pare it back, or at least change the COLA calculations to the gov's benefit. Indirectly, SS's Medicare does increase monthly costs based on income (MAGI) for people using it as their primary insurance.
I think this "simplified" income tax 1040 is just another hoax. I don't see it as really all that simplified at all: A brief cover page that used to be the top of the old 1040, then a second page with many of the rest of the old form fill-ins, 5 new additional back up schedules, plus when applicable the same other schedules like A,B, D. Overall it ends up pretty much the same as in the past except some rate deductions and expanded child credits, and a hit to those living in high tax states by limiting state related deductions. It does increase the standard deduction, but takes away the previous personal exemptions which offsets part of the increased standard deduction. The wording isn't always the clearest either, another sign that was rushed through rather than really thought out. Combine that with the decreased withholding, and maybe Washington shouldn't be surprised by the attitudes it is creating from working middle class people.
Social Security tax became a Congressional piggy bank years ago, but Congress wants to make recipients feel guilty for taking the current benefits in preparation for possible need to pare it back, or at least change the COLA calculations to the gov's benefit. Indirectly, SS's Medicare does increase monthly costs based on income (MAGI) for people using it as their primary insurance.
I think this "simplified" income tax 1040 is just another hoax. I don't see it as really all that simplified at all: A brief cover page that used to be the top of the old 1040, then a second page with many of the rest of the old form fill-ins, 5 new additional back up schedules, plus when applicable the same other schedules like A,B, D. Overall it ends up pretty much the same as in the past except some rate deductions and expanded child credits, and a hit to those living in high tax states by limiting state related deductions. It does increase the standard deduction, but takes away the previous personal exemptions which offsets part of the increased standard deduction. The wording isn't always the clearest either, another sign that was rushed through rather than really thought out. Combine that with the decreased withholding, and maybe Washington shouldn't be surprised by the attitudes it is creating from working middle class people.
If one can, arrange financial affairs to minimize what goes in to the Social Security tax, the quicker one can then draw one’s “invested “ monies out, the better. Working on “house monies” are the ways to go.
I would totally agree that the “ SIMPLIFIED” income tax 1040 form is totally bogus/fake news.
I think this "simplified" income tax 1040 is just another hoax. I don't see it as really all that simplified at all: A brief cover page that used to be the top of the old 1040, then a second page with many of the rest of the old form fill-ins, 5 new additional back up schedules, plus when applicable the same other schedules like A,B, D. Overall it ends up pretty much the same as in the past except some rate deductions and expanded child credits, and a hit to those living in high tax states by limiting state related deductions. It does increase the standard deduction, but takes away the previous personal exemptions which offsets part of the increased standard deduction. The wording isn't always the clearest either, another sign that was rushed through rather than really thought out. Combine that with the decreased withholding, and maybe Washington shouldn't be surprised by the attitudes it is creating from working middle class people.
I think it's just simply inaccurate for you to say this. If you just look how many people will no longer itemize and go to std. deductions, it is a significant simplification. They will no longer have to track all their receipts, all they will need is W2, 1099 statements from bank/brokerages, and perhaps HSA-related forms, if applicable. At least that's my return.
Moreover, it removes "you will save on taxes" BS sales pitch from real estate industry, making cost of house ownership much more transparent. Same thing with charity - you give to give, not to get a tax break. I'm sometimes under impression that people get so obsessed in saving on taxes that they will make really poor choices, just so they can say they stiffed the Man.
The new tax code will also make much more obvious to people how much their great states and cities are charging them for the privilege of living within their borders and cost of all those great services they get, so the choice will become much more transparent - you live here, possibly get a lot and pay a lot, or you live there, you don't get much, but you don't pay much, either. Until now it was a hidden subsidy from the federal government that these politicians could use, just like those real estate shills. I understand there was a partisan aspect of that and I don't care for Republicans gloating over this issue, but I've always been for transparency, whichever color it has. Treat me like an adult and tell me how much it REALLY costs, whether it's a new car, or "free" healthcare, education, or transit. BTW, Hillsborough County voters just passed additional 1.5% sales tax surcharge, 1% on transit/transportation (30 years, I believe) and 0.5% for education infrastructure (10 years). People finally wake up to the fact that if you want something, you got to pay, no free lunch. Tri-City area in Tampa Bay is now largest population center without any rail transit system and roads are becoming unbearable. It will take another 20 years to build just first line or two, so I won't be really benefiting from it, but I think it was right thing to do.
When I taught and was a principal in Illinois, no Social Security contributions were taken out of my payroll nor did the school district contribute to Social Security on my behalf. What was taken out of my salary was my pension contribution of 8.5% which was supposed to be matched by the State - but never really was at the percentage required by statute. But I always had part-time jobs which did take out SS each payroll which is why I collect Social Security.
But most teachers and administrators are not eligible for SS Benefits because they never contributed to the fund. They are the ones who would be hurt the most by a default of the pension system and the severe debt the State has which is teetering on bankruptcy due to 45 years of the Illinois legislature not adequately funding pensions and putting that money into other programs or to pay off debt.
If you are going to maintain SS as a benefit, everyone should be required to contribute to the fund.
You should have taught in New York. Only recently have they made changes that even reduced teacher’s pensions a little if you collected too much social security. The teachers pension system (as all state pensions) is fully funded by law no matter what the tax burden.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Not sure what you mean. 2018 1040A: 51 positions, 1040EZ: 14 positions, 2019: 23 positions. So unless you were doing 1040EZ before, you have fewer positions to fill. Increasing the std. deduction by this much and doing away with exemption concept (in trade for lower general rates), removes itemization for rather large segment of the population. Whatever you say, that does make it simpler for whole group of people. The point of 45% Americans paying little/no income tax is a completely different issue - political. I'm talking from an a individual's point of view, taxes became more transparent and tax filing will be simpler for many. That's just fact, not for debate. Whether it's "good", "fair", "too much", "too little", that's politics, matter of opinion.
I am definitely doing my part to subsidize Social Security. As a self-employed contractor, I pay my half of the social security (6.3%), the employers part (another 6.3%), and then 2.6% for medicare. So the government gets 15.2% of every dollar I earn, BEFORE you start talking about income tax. I pay my taxes quarterly, and save 36% of every dollar to send off to Uncle Sam.
Now don’t get me wrong, I am not bitter about this. I knew all of the numbers before I started working as a self-employed contractor. I just negotiated my hourly rate based on how much I knew would be left for me.
It is what it is, complaining doesn’t help. Knowledge is power, work within the system, and make the system work for you.
I have the same burden on farm income except I get the get out of jail free card on quarterly or estimated payments. I hope these other guys realize how much we’re doing for them.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Not sure what you mean. 2018 1040A: 51 positions, 1040EZ: 14 positions, 2019: 23 positions. So unless you were doing 1040EZ before, you have fewer positions to fill. Increasing the std. deduction by this much and doing away with exemption concept (in trade for lower general rates), removes itemization for rather large segment of the population. Whatever you say, that does make it simpler for whole group of people. The point of 45% Americans paying little/no income tax is a completely different issue - political. I'm talking from an a individual's point of view, taxes became more transparent and tax filing will be simpler for many. That's just fact, not for debate. Whether it's "good", "fair", "too much", "too little", that's politics, matter of opinion.
The fact that one didn’t answer one real question: whether or not one gets more/less monies back, skirts the essential issue. Who really cares, more or less paper work? If one sees that as “political” that might be seen as “misguided”.
But on the other hand, I ran a business for 14 years on paper work, the more the better. So, .....on that IRS 1040, do you want 1,000 more copies with that? 😜👍
dino, wasn't really arguing the merits or not of the tax reform in my post as much as the phony hype about simplifying the tax forms ( believe at one time it was even hyped as one page, or two top - well, as usual there should be asterisks) . Bragging the standard deduction was "doubled", when in fact part of that was offset by quietly removing the personal exemptions. I hear your comments about better exposing high tax states, but I think most living in that situation already knew that, but live there because of things like their jobs. Most citizens are not retirees. So those state citizens should just pickup and move? You know they took away moving expense deductions, and moving a family is not cheap, while many companies have at the same time reduced corporate move subsidies to their employees. But while we are on the subject of gov state inequities, how about states that are subsidized by a large imbalance between what they pay into the US Treasury, versus what they get out? Think agriculture or military bases for example. You may want to show New York, California, Illinois, etc. a lesson, but they are all greatly disadvantaged by what they pay into the US gov versus what they receive back (deficits, not surpluses or break evens in this area). Many of the Southern and agricultural Midwest states make out big in this respect. And then there is the fact that special interests like real estate developers were barely, if at all touched by this supposed "crack down". Usually there are multiple aspects to issues, and unfortunately, often some are more about political motives. No dino, I don't think my post was inaccurate.
I am definitely doing my part to subsidize Social Security. As a self-employed contractor, I pay my half of the social security (6.3%), the employers part (another 6.3%), and then 2.6% for medicare. So the government gets 15.2% of every dollar I earn, BEFORE you start talking about income tax. I pay my taxes quarterly, and save 36% of every dollar to send off to Uncle Sam.
Now don’t get me wrong, I am not bitter about this. I knew all of the numbers before I started working as a self-employed contractor. I just negotiated my hourly rate based on how much I knew would be left for me.
It is what it is, complaining doesn’t help. Knowledge is power, work within the system, and make the system work for you.
I have the same burden on farm income except I get the get out of jail free card on quarterly or estimated payments. I hope these other guys realize how much we’re doing for them.
AMEN X4 on your last para! Not that anybody loves extra paper work! ?
It would appear that IF one is EZ ing, one pays too much or little to none.
I'd say evidently not when you look at what the tariffs are doing to farmers. For example, Brazil is already drastically increasing exports like soybeans to China while this Washington trade game is playing out. Europe has strongly and clearly stated that US agriculture will be targeted if the US taxes, excuse me, puts tariffs, on things like their autos. and that US trade wars with China may have a secondary affect (unintended consequence) on European transplants output (and thus employment) at their US locations. Generally speaking, when supply chains are altered, they seldom return to where they used to be, which means people like soybean farmers will have to find new markets or reduce prices to recoup their volume losses, and some transplants for European vehicles or Boeing aircraft for that matter, may end up having to layoff employees. Speaking of farming, in may aspects that has become a large corporate business tied into food processors, etc. It is very difficult to make a decent profit for most small farmers and because of their size, they don't get near the bump from many of the federal programs as the big guys.
I don't actually know, or care, how many forms or schedules there are. I just fire up the software, enter all the same info as before, and it does all the work. I guess the only point it matters to me is when I go to print out a copy for my records. Everything else is electronic.
Regardless Stick, tax changes can impact you or your family favorably or otherwise long term as we as this year. And why should citizens have to buy software because the gov can't put together a clear, easy to follow tax program? If you have any complications, the free stuff is often limited.
She is Manami; a character from Monkey Punch-a Japanese manga. She is squeezing off a shot with a finger in her ear. I told everyone that she was the template for my next bailiff.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
I can only say, it's simpler for me and would have been simpler even when my annual mortgage interest was much higher (I'm close to paying it off by now). I also made about 8 grand more and paid 1 thousand less in 2018. No keeping receipts except those for HSA account, just W2, couple of 1099 and HSA related forms, that's all. Without that HSA account, it would have been even simpler.
The subject of net payer vs. net receiver, what's fair, is a real one, we won't solve it here. The restructuring mindset of people is just starting, we're still in a big transition and all we can hear today is "I used to get a refund, now I have to pay, it's an outrage" (never mind I got and consumed a big break on the paycheck). It's a phase. People will adjust their behavior. I think current tax structure creates better incentives for more prudent behavior, like not overspending on your housing, or generally not doing anything just so you can say you saved on taxes.
What’s funny is out of all that stuff I looked at the remote to see what gear it was controlling. Nothing wrong with a little Bob Carver for your ears !
What’s funny is out of all that stuff I looked at the remote to see what gear it was controlling. Nothing wrong with a little Bob Carver for your ears !
Yep, a 6250 receiver:
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
That is interesting, but actually not all that comforting regardless. The numbers are still the numbers. It's like if automobile fatalities drop by 1,000 in a year, we all don't go YEA!
Work today was sweet torture. Bunch of dealer deliveries which allowed me to drool over cars while waiting for the check. Went to a Nissan/Genesis dealer and got a good look at a G70 with a $48k sticker. Must have been a stripper since it’s twin The Stinger in top form goes for $52k. Still very nice.
The cherry on the cake however was at a Caddy dealer. They had a black CTS tt V in the showroom for $64k. Except for not having enough money and remembering GGs experience it would be hard to resist. Especially since the sales manager was trying to sell me the whole time I was there.
Lol. That is like saying, " If I had some tomatoes, I could have a bacon and tomato sandwich if I had some bacon ".
Could you loan me some 🥓? You made me hungry.
Since when does a farmer beg for food?
jmonroe
'15 Genesis Ultimate just like jmonroe's. '18 Legacy Limited with 3.6R (Mrs. j's)
She is Manami; a character from Monkey Punch-a Japanese manga. She is squeezing off a shot with a finger in her ear. I told everyone that she was the template for my next bailiff.
Be careful lest some advocacy group try to destroy your career over that. Then again, someone could spin a pogrom against you for having all those representations of fossil fuel burners too.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Maybe they could make the speed lanes toll roads and make billions. You’d also have to certify that your car was safe to go real fast. I would be ok going 100 in my Mustang but not my cargo van.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
But, in Germany it can take years to get a license and most drivers know how to drive. Try driving on I-75 with a speed limit of 75, and tell me those people could drive on the Autobahn - it would look like a Russian Dash Cam video.
But, in Germany it can take years to get a license and most drivers know how to drive. Try driving on I-75 with a speed limit of 75, and tell me those people could drive on the Autobahn - it would look like a Russian Dash Cam video.
And Germany is more aggressive in vehicle inspection to help insure vehicle degradation is not a liability. So, poor driver ed + poor vehicle maintenance + low driver discipline + high center of gravity SUVs and trucks + unlimited speed = winning. That's a math I don't understand.
But, in Germany it can take years to get a license and most drivers know how to drive. Try driving on I-75 with a speed limit of 75, and tell me those people could drive on the Autobahn - it would look like a Russian Dash Cam video.
At 76, I am still a pretty good golfer, but not as good as I was at 40. I am also still a pretty good driver, but not as good as I was at 40. I still trust my fellow drivers, but not as much as I did at 40. I would have loved higher or no speed limits at 40, but just not for me today. That would be among the things that I would leave to younger folks.
I would be happy with 80 on rural interstates. Maybe 85, max.
Can’t think of many roads near us that could support those speeds. RT 55 between Glassboro and Vineland, maybe the stretch of the A.C. expressway that’s three lanes.
Turnpike is pretty much the autobahn anyway so not sure it matters... but 85 SL would mean left lane moving at near 100. It moves at 90 now anyway.
well, 55 and the ACX are usually flowing close to 80 much of the time anyway. 295 below west deptford too. I think that if the limit was where the fast cars are already going, they won't exceed it by much if any. People drive where they are comfortable. I just want to be able to sit at 79 and not have to nervously watch out for cops.
I just have to tell this story as it really shows how crappy some people can be.
Last night we had an adult night with two other couples. We met up at a restaurant for dinner and drinks and hung out till about 11. One couple was tired but us and the other couple still wanted to hang more.
We headed down the road to a popular chain sport bar franchise. It’s nearly 11:30 now and the place was pretty packed. We walked to the back bar and found a few seats.
We noticed a group of about 10-12 people sitting at the tables behind us. What struck us as strange was that they were with very young kids! Two of them small enough to be in high chairs and the others toddlers. This was at 11:30 in a sports bar! What were they thinking! The place is a restaurant too, but kids that age don’t belong out that late.
So here is the icing on the cake! We clearly saw the adults were drinking and there was a ton of food on the tables. They packed up and headed out around 12:30 leaving quite a mess. The two sets of adults sorted out the check and they left the folder.
I looked over at the waitress and knew right away. They didn’t tip the waitress on what I would assume was at least a $250 bill. Pure scum. She was a college student and clearly was upset. The bartender confirmed what happened. My buddy who always has cash (I never do) crumbles up a $20 and hands it to the bartender and says “look i found this under the table”. She knew what he did, and handed it to the waitress.
The manager bought us a round after that. If you can’t afford to tip , don’t go out to eat ! This was in a pretty nice area too no shortage of money there. Sad.
We had a late night, closed down the place. Haven’t done that for awhile. Uber drove us home safely!
Around here the liquor laws require all minors to leave places with a liquor license by either 9 or 10PM. Even though they are with parents or guardians. Some people gripe about that but it seems to make sense to me. I cannot understand the lack of a tip.
well, 55 and the ACX are usually flowing close to 80 much of the time anyway. 295 below west deptford too. I think that if the limit was where the fast cars are already going, they won't exceed it by much if any. People drive where they are comfortable. I just want to be able to sit at 79 and not have to nervously watch out for cops.
You are probably right, ACX which I take every morning moves pretty good. If the SL was 80 you would have a few stretching it to 90-95 but that would be the minority.
I haven’t driven 55 in a while (other than one exit from 42 to Deptford) but it used to be patrolled pretty good and you would get nailed at anything more than 9 over.
What’s funny is out of all that stuff I looked at the remote to see what gear it was controlling. Nothing wrong with a little Bob Carver for your ears !
I looked over at the waitress and knew right away. They didn’t tip the waitress on what I would assume was at least a $250 bill. Pure scum. She was a college student and clearly was upset.
That neither couple thought to leave a tip is surprising....birds of a feather sticking together. Obnoxious people. Sometimes it is the privileged one's in life who could afford it, that don't tip, because they have no idea what it is like trying to get by on a servers salary.
What’s funny is out of all that stuff I looked at the remote to see what gear it was controlling. Nothing wrong with a little Bob Carver for your ears !
Yep, a 6250 receiver:
I have a Carver TFM-55 power amp in storage. A real monster.
Comments
But most teachers and administrators are not eligible for SS Benefits because they never contributed to the fund. They are the ones who would be hurt the most by a default of the pension system and the severe debt the State has which is teetering on bankruptcy due to 45 years of the Illinois legislature not adequately funding pensions and putting that money into other programs or to pay off debt.
If you are going to maintain SS as a benefit, everyone should be required to contribute to the fund.
2024 Genesis G90 Super-Charger
There are still plenty of people making over $130K in "earned" income (regularly employed top professionals). With just one person making say $200K of SS eligible income (airline pilot, lawyer, elite engineer, doctor, manager, etc.), the additional 12.6% (employee plus employer) on 70 grand over current SS limit could cover payment deficits for scores of people who had low wages, but the system won't even be able to cover what was promised to them. Taking this example, people who make $35K of SS income would get about $1500/month, so if we say have 25% deficit in SS, it means $375 missing for this guy. Therefore one $200K guy who adds 9 grand more than now (12.6 percent of 70 thousand) would cover 25 percent SS deficit for 25 people. That's not a terrible math, if you ask me. This is just an example, we can all discuss whether we should have made that promised at the first place or how much money politicians squandered, or how was the fund run, but it won't change the facts the promise was made and is still being made today, and it won't be kept if we don't do something. BTW, this is also about me - I'm currently not quite this "200K guy", but my last paycheck or two do not get taxed for SS and the income is still raising slightly faster than the cap, so it's real issue to me. I'm willing to let that money go (and get no financial credit for it), provided that there are bunch of other things done, too. I just wish somebody broke this issue down publicly the way I just did, without all that "eat the rich", or "hands of my muny, I paid 'nugh" hysteria, present on both sides of the argument.
2018 430i Gran Coupe
Now don’t get me wrong, I am not bitter about this. I knew all of the numbers before I started working as a self-employed contractor. I just negotiated my hourly rate based on how much I knew would be left for me.
It is what it is, complaining doesn’t help. Knowledge is power, work within the system, and make the system work for you.
2018 430i Gran Coupe
Great write your congressman with the idea.
Consider this, someone makes $200k at two employers. Both employers withhold SS tax on all the income. When this person files their taxes they will get a refund of the overpaid SS taxes but the two employers will not get any refund for excess taxes.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
If it is/was insurance, one would assume that the higher your premiums, the more you would receive as a benefit. But what is “more”? I know people and family members who paid hundreds of thousands of dollars into the system but will receive less than they and their employers paid into the system in their retirement years.
I agree with those who believe this is another form of wealth distribution - a socialist term. But that is how it was initially set up - to redistribute wealth - during the FDR years.
We live in a “Mixed Capitalism Economy” meaning part social programs, part governmental regulations to keep capitalism from running amok, and capitalism which enables members of society to earn whatever they can (corporations as well).
It’s been like this in our beloved USA since the crash of 1929. Before that, the barons of industry did what they wanted and earned what they could almost unchecked.
It it is what it is!
P.S. This is not a political statement - just a set of facts to better understand our existing economy.
----------------------------------------------------------------------------------------------------------------------------------------------
Of course, all that presumes that the wealth was "distributed" fairly in the first place, which is an argument certainly up for grabs.
I think what we are seeing is a correlation between decline of the middle class and decline of the unions.
2018 430i Gran Coupe
Anybody, can run the numbers on a Google searched (financial) compound interest tables.
So let me leave one with a car survey item (not my numbers). The average age of a (new) car owner is 44 years old. Hmmmmmm.
So even 40 (-50) years ago, the numbers revealed “the only way to afford” a (new) car was to run @ least one business. If one is adverse to running a business, having auto write off/s on rental real estate is another way
There are financial news network specials on Warren Buffett. But the upshot is that WB’s wife puts in $3 to $5 in his new (now older) Cadillac. He can then drive & buy his McDonald’s breakfast, on the way to work.
The point here being: one of the richest persons on the planet, a multi billionaire bought ONE Caddie from a local dealer & drives only ONE car and drives it himself. Does he write it off? Maybe he writes it off, maybe not. My money is on, ...he does?
I think this "simplified" income tax 1040 is just another hoax. I don't see it as really all that simplified at all: A brief cover page that used to be the top of the old 1040, then a second page with many of the rest of the old form fill-ins, 5 new additional back up schedules, plus when applicable the same other schedules like A,B, D. Overall it ends up pretty much the same as in the past except some rate deductions and expanded child credits, and a hit to those living in high tax states by limiting state related deductions. It does increase the standard deduction, but takes away the previous personal exemptions which offsets part of the increased standard deduction. The wording isn't always the clearest either, another sign that was rushed through rather than really thought out. Combine that with the decreased withholding, and maybe Washington shouldn't be surprised by the attitudes it is creating from working middle class people.
I would totally agree that the “ SIMPLIFIED” income tax 1040 form is totally bogus/fake news.
Moreover, it removes "you will save on taxes" BS sales pitch from real estate industry, making cost of house ownership much more transparent. Same thing with charity - you give to give, not to get a tax break. I'm sometimes under impression that people get so obsessed in saving on taxes that they will make really poor choices, just so they can say they stiffed the Man.
The new tax code will also make much more obvious to people how much their great states and cities are charging them for the privilege of living within their borders and cost of all those great services they get, so the choice will become much more transparent - you live here, possibly get a lot and pay a lot, or you live there, you don't get much, but you don't pay much, either. Until now it was a hidden subsidy from the federal government that these politicians could use, just like those real estate shills. I understand there was a partisan aspect of that and I don't care for Republicans gloating over this issue, but I've always been for transparency, whichever color it has. Treat me like an adult and tell me how much it REALLY costs, whether it's a new car, or "free" healthcare, education, or transit. BTW, Hillsborough County voters just passed additional 1.5% sales tax surcharge, 1% on transit/transportation (30 years, I believe) and 0.5% for education infrastructure (10 years). People finally wake up to the fact that if you want something, you got to pay, no free lunch. Tri-City area in Tampa Bay is now largest population center without any rail transit system and roads are becoming unbearable. It will take another 20 years to build just first line or two, so I won't be really benefiting from it, but I think it was right thing to do.
2018 430i Gran Coupe
Unfortunately, (whether one likes him/not) (now Senator) Romney (during his 2016 presidential campaign) took hits for merely reciting the Federal figures, that fully 44.4 % + plus of Americans pay little to no Federal income taxes. (& importantly going UP) https://www.liberalforum.org/topic/248763-44-pay-no-fed-taxes-including-all-leftist-posters-on-this-site/
“Simplified” IRS 1040’S camouflages/hides the mathematical realities.
But most teachers and administrators are not eligible for SS Benefits because they never contributed to the fund. They are the ones who would be hurt the most by a default of the pension system and the severe debt the State has which is teetering on bankruptcy due to 45 years of the Illinois legislature not adequately funding pensions and putting that money into other programs or to pay off debt.
If you are going to maintain SS as a benefit, everyone should be required to contribute to the fund.
You should have taught in New York. Only recently have they made changes that even reduced teacher’s pensions a little if you collected too much social security. The teachers pension system (as all state pensions) is fully funded by law no matter what the tax burden.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2018 430i Gran Coupe
I have the same burden on farm income except I get the get out of jail free card on quarterly or estimated payments. I hope these other guys realize how much we’re doing for them.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
But on the other hand, I ran a business for 14 years on paper work, the more the better. So, .....on that IRS 1040, do you want 1,000 more copies with that? 😜👍
It would appear that IF one is EZ ing, one pays too much or little to none.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
She is squeezing off a shot with a finger in her ear. I told everyone that she was the template for my next bailiff.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
The subject of net payer vs. net receiver, what's fair, is a real one, we won't solve it here. The restructuring mindset of people is just starting, we're still in a big transition and all we can hear today is "I used to get a refund, now I have to pay, it's an outrage" (never mind I got and consumed a big break on the paycheck). It's a phase. People will adjust their behavior. I think current tax structure creates better incentives for more prudent behavior, like not overspending on your housing, or generally not doing anything just so you can say you saved on taxes.
2018 430i Gran Coupe
2018 430i Gran Coupe
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Turnpike is pretty much the autobahn anyway so not sure it matters... but 85 SL would mean left lane moving at near 100. It moves at 90 now anyway.
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Last night we had an adult night with two other couples. We met up at a restaurant for dinner and drinks and hung out till about 11. One couple was tired but us and the other couple still wanted to hang more.
We headed down the road to a popular chain sport bar franchise. It’s nearly 11:30 now and the place was pretty packed. We walked to the back bar and found a few seats.
We noticed a group of about 10-12 people sitting at the tables behind us. What struck us as strange was that they were with very young kids! Two of them small enough to be in high chairs and the others toddlers. This was at 11:30 in a sports bar! What were they thinking! The place is a restaurant too, but kids that age don’t belong out that late.
So here is the icing on the cake! We clearly saw the adults were drinking and there was a ton of food on the tables. They packed up and headed out around 12:30 leaving quite a mess. The two sets of adults sorted out the check and they left the folder.
I looked over at the waitress and knew right away. They didn’t tip the waitress on what I would assume was at least a $250 bill. Pure scum. She was a college student and clearly was upset. The bartender confirmed what happened. My buddy who always has cash (I never do) crumbles up a $20 and hands it to the bartender and says “look i found this under the table”. She knew what he did, and handed it to the waitress.
The manager bought us a round after that. If you can’t afford to tip , don’t go out to eat ! This was in a pretty nice area too no shortage of money there. Sad.
We had a late night, closed down the place. Haven’t done that for awhile. Uber drove us home
safely!
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
2017 Cadillac ATS Performance Premium 3.6
I haven’t driven 55 in a while (other than one exit from 42 to Deptford) but it used to be patrolled pretty good and you would get nailed at anything more than 9 over.
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
https://pix11.com/2019/02/21/video-shows-man-drive-onto-sidewalk-as-students-walk-to-class-in-brooklyn/
2014 Malibu 2LT, 2015 Cruze 2LT,
I hear Bob Carver is into tube gear these days!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250