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Old 09-17-2019, 08:55 AM   #161
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I might have qualified my comment with "negatively affected", but I suspect I'd be where I am with or without 401k. Way too high income for ACA.
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Really?
401(k) didn't change anything for you? I'm much younger than you, but 401(k) has been the biggest financial change in my life since being of age to contribute to it.
Roth IRA was another big one for me.
Clinton's tax credits for college was huge to me.
I don't know the history of IRS Pub 502 (deducting medical expenses) but that one has been big to me.
HSA is another big one for me.
Obamacare?
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Old 09-17-2019, 08:59 AM   #162
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Conversely, do you raise everyone by cutting taxes for the rich?
I have never been hired by a poor person. I have had major incentives to work by not getting handouts.

It's near impossible to cut taxes for someone that doesn't pay them...

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Didn't say not buy anything, just less. Happens all the time when sales/luxury/VAT/wealth taxes are raised.
As a corollary, I would guess that income taxes cause people to work less, and capital gains taxes causes people to invest less.



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Sure one can avoid paying VAT taxes and Sales taxes by not buying anything, let your money sit unused.

This will cause a rise in the cash only, underground economy.
Actually, income taxes do exactly that. I know several people that work for cash, and make $50K a year or more. Sooner or later all that cash gets spent at a retailer. Not too many people manufacture stuff to sell.
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Old 09-17-2019, 09:19 AM   #163
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So, "If you or some very close relative doesn't pay you don't get a check."

Perhaps I misstated. What I should have said is that for most of us either we paid into SS or a close relative did such as a parent or spouse did.

Most of us won't get a SS check simply because we turn 62. We or somebody like a spouse or parent must have qualified.

https://www.dummies.com/personal-fin...ment-benefits/

Here's an interesting one:

https://www.investopedia.com/retirem...cial-security/

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What follows are the eight most common categories of workers who don't qualify for benefits.
Time to get back on topic.
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Old 09-17-2019, 09:43 AM   #164
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Quote:
Originally Posted by Senator View Post
I have never been hired by a poor person. I have had major incentives to work by not getting handouts.

It's near impossible to cut taxes for someone that doesn't pay them...
The question was "Do you raise everyone by cutting taxes for the rich".

Either you didn't understand, or simply chose to ignore it.
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Old 09-17-2019, 09:44 AM   #165
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Perhaps I misstated. What I should have said is that for most of us either we paid into SS or a close relative did such as a parent or spouse did.

Most of us won't get a SS check simply because we turn 62. We or somebody like a spouse or parent must have qualified.
That makes more sense.
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Old 09-17-2019, 12:17 PM   #166
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Thanks for the interesting discussion.

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