Bear Pit: now the sole domicile of politics at LuLa

[Robert Roaldi]

Anyone else find it ludicrous to say that regarding taxes, Florida and Texas have "none at all"?

Too much to keep track of. I'm pretty sure that someone asserted earlier in this thread that families were earning up to $100,000 per year on various government programs and so employers couldn't find employees. Can't go down every rabbit hole.

[LesPalenik]

Too much to keep track of. I'm pretty sure that someone asserted earlier in this thread that families were earning up to $100,000 per year on various government programs and so employers couldn't find employees. Can't go down every rabbit hole.

Some people hate their $100,000/year jobs, so they set their house on fire and resort to mass shotings. Here is what we learned about one of the recent shooters in San Jose, CA.

Cassidy worked as an overhead line maintenance worker at the "Guadalupe" facility on the south side of the VTA grounds.
Public records showed he earned more than $100,000 a year.

But an ex-girlfriend called him abusive and at least one neighbor said he had a hot temper, so he tried to avoid him if he could.
His hatred of his job also reportedly caught the attention of border agents who detained him in 2016. The Wall Street Journal cited a Department of Homeland Security memo that said the border agents found Cassidy carried books about terrorism and another filled with disparaging notes about the VTA when he returned from visiting the Philippines. 

[James Clark]

Anyone else find it ludicrous to say that regarding taxes, Florida and Texas have "none at all"?

We have taxes in Texas, and unlike an income tax, they go up every year with property value.  (About 10% annually for the last several years for me.). I pay property taxes equivalent to income tax on about a 180k salary in CA. 

Were I to lose my income in CA I’d owe zero that year. Here in TX no such luck. 

[Alan Klein]

Fortunately, many people are aware that Social Security is an insurance program and not an investment program. Like unemployment insurance, Medicare, or any other type of insurance program, you pay premiums over time and receive benefits when needed. With insurance programs, you may receive more in benefits than you paid in premiums or you might not, depending on your particular circumstances.

I think most people understand how this works, but certainly not all do. Social Security is an insurance program to replace income loss due to retirement, disability, or loss of spouse. It is not intended to replace individual saving and investment for retirement. It has been an extraordinarily successful program in reducing poverty.

Like any insurance program, the premiums take money from your pocket that you could otherwise spend or invest. The purpose of insurance is to provide protection and stability when benefits are needed and increase security by reducing financial uncertainty and making unforeseeable losses manageable—and that does come with a cost. Then again, who doesn't recognize the need to insure the things that are most valuable in their lives? Homes, cars, health, life, and income are all valuable and would all seem to fit into the realm of things worth insuring.

SS is the biggest Ponzi scheme ever created.  I doubt if you'll ever see any benefit from it either along with Andrew. 

[Robert Roaldi]

SS is the biggest Ponzi scheme ever created.  I doubt if you'll ever see any benefit from it either along with Andrew.

I have been hearing stories about the collapse of social security since I've known what it was.

[Alan Klein]

To summarize then, government picking winners is bad, except when it's good.

A state providing incentives for business to come to their state to provie jobs and income to the state is not picking winners and losers.  The Federal government providing benefits to businesses to encourage that company  is picking winners.  You just don't get it.   

[Robert Roaldi]

Some people hate their $100,000/year jobs, so they set their house on fire and resort to mass shotings. Here is what we learned about one of the recent shooters in San Jose, CA.

I read in one of the articles that he had 22,000 rounds of ammo at home, so he'd need a well-paying job to support that habit.

[Alan Klein]

Anyone else find it ludicrous to say that regarding taxes, Florida and Texas have "none at all"?

You're smarter than that and know I was referring to state income taxes. 

[Robert Roaldi]

A state providing incentives for business to come to their state to provie jobs and income to the state is not picking winners and losers.  The Federal government providing benefits to businesses to encourage that company  is picking winners.  You just don't get it.

Well, they picked Amazon, which means they didn't pick someone else.

That line you're attempting to draw is so thin I've having trouble seeing it. Is it just me?

[Alan Klein]

I have been hearing stories about the collapse of social security since I've known what it was.

The government should have hired Bernie Madoff to run Social Security.  It would have been in better shape. 

[Robert Roaldi]

The government should have hired Bernie Madoff to run Social Security.  It would have been in better shape.

I think the collapse of SS is a lot like the end-times predicted by various fringe religious groups. No matter how many times the rapture doesn't happen on the predicted date, they never lose faith.

I'm pretty sure that if Wall Street could figure out a way to pay out bonuses to employees in 2008-2009, they can probably figure out a way to keep SS floating for a little while longer.

[James Clark]

You're smarter than that and know I was referring to state income taxes.

An irrelevant bottom line difference in many ways. Whether I pay property tax, income tax, use tax, sales tax or whatever the state gets its money from the citizens.  Having lived, paid taxes, and been an emloyer in both tx and ca, I personally prefer the CA system, but reasonable people can disagree. 

[Alan Klein]

Well, they picked Amazon, which means they didn't pick someone else.

That line you're attempting to draw is so thin I've having trouble seeing it. Is it just me?

They didn't pick Amazon over anyone else.  If there are other firms they can entice to open businesses in NYS, they would make a deal with them too. 

All it is is like let's say Canon offering you a $200 rebate if you buy their $1500 camera.  So in NYS case, they give an incentive to the company to set up shop in NYS.  Then, in the many years that follow, the state collects more in taxes and jobs for their residents then the incentive cost.  A simple deal.

[Alan Klein]

An irrelevant bottom line difference in many ways. Whether I pay property tax, income tax, use tax, sales tax or whatever the state gets its money from the citizens.  Having lived, paid taxes, and been an emloyer in both tx and ca, I personally prefer the CA system, but reasonable people can disagree. 

Then why are more Californians and businesses from there moving to Texas than the other way around? 

[Alan Klein]

I think the collapse of SS is a lot like the end-times predicted by various fringe religious groups. No matter how many times the rapture doesn't happen on the predicted date, they never lose faith.

I'm pretty sure that if Wall Street could figure out a way to pay out bonuses to employees in 2008-2009, they can probably figure out a way to keep SS floating for a little while longer.

We're going to have you Canadians pay for it.

[Robert Roaldi]

We're going to have you Canadians pay for it.

Right after Mexico pays for your wall !

But I have a better idea. Given how many GoFundMe campaigns are now created to pay for medical bills (estimate of 1 in 3) (https://moguldom.com/326446/fact-check-one-in-three-gofundme-campaigns-are-for-medical-bills/), I think you need to tap into the GoFundMe/Kickstarter type funding sources for Social Security. Time to get creative. I know you don't like "socialism", even when it's actually insurance, maybe you'd prefer voluntary "socialism" then.

Or maybe instead of your local government giving money to Amazon to "create" jobs, they should put some of that cash into SS and let Amazon invest its own money into business expansion, the way the "free market" intended.

[digitaldog]

SS is the biggest Ponzi scheme ever created.  I doubt if you'll ever see any benefit from it either along with Andrew.

Alan again stupidity assumes something about me (and more) he knows nothing about. Fact is, 6 weeks from today I CAN start taking SS.

[James Clark]

Then why are more Californians and businesses from there moving to Texas than the other way around?

My opinion?  Housing prices. 

[Alan Klein]

Alan again stupidity assumes something about me (and more) he knows nothing about. Fact is, 6 weeks from today I CAN start taking SS.

Sorry.  I didn't realize you were so old.  Welcome to senior living.    I'd start SS right away before they change the rules.  Lock yourself in.  My wife started hers at 62; I started mine at 68 because I was working until then.  Of course, a lot depends on work status and other things.  Good luck.  Stay healthy.  That's the most important thing.  The rest is BS. 

[Alan Klein]

My opinion?  Housing prices. 

Good point.  When my wife and I visited SoCal -  San Diego and LA a couple of years ago, I couldn't believe that so many homes were over a million.  It's a beautiful place to live if you can afford it though.  The weather's great.