Socialism and welfare

iVillage Member
Registered: 04-24-2008
Socialism and welfare
363
Tue, 10-21-2008 - 6:29am

Why is it a tax cut when McCain cuts taxes?

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iVillage Member
Registered: 08-25-2008
Thu, 10-23-2008 - 5:00pm

Mom, I'm not here to propose a complete program with all details addressed including excerpts from Congressional testimony...


Authorize me to run a Congressional commission and I'll dot all the "i"'s and cross all the "t"s.

iVillage Member
Registered: 08-25-2008
Thu, 10-23-2008 - 5:26pm

first of all note the comment:


the net present value of such payments would be $940 billion


In other words, over the entire life of the program (75 years) the cost would be $940 billion.

iVillage Member
Registered: 05-14-2008
Thu, 10-23-2008 - 6:35pm
The couple you've described isn't getting any bailout but they're sure having to foot a big chunk of the bill for it.
iVillage Member
Registered: 05-14-2008
Thu, 10-23-2008 - 6:43pm
You're right. My personal portfolio is proof of that and it's only been around a bit more than 20 years and has another decade + before I'd be even be eligible to use any of it. I could liquidate it all right now and put it in something completely safe and still come out way ahead. But yes, this year it's down a bundle.
iVillage Member
Registered: 07-03-2008
Thu, 10-23-2008 - 6:49pm
This is true, we don't know where "our specific" taxes go.
iVillage Member
Registered: 05-14-2008
Thu, 10-23-2008 - 6:53pm

Yes, and a big part of the reason is that too many people rely too heavily on social security to fund their retirement. It was supposed to be a supplement to savings and instead the savings piece went out the window.

And I don't want to hear the nonsense about not having any extra to save. I started fresh out of college with $50 a month. Became a stay at home mom at age 29. The sum total of my investment is about $13,000 invested over a period of about 8 years. We made saving for retirement a priority early in our earning years. That $13,000 invested over an 8 year period when I earned anywhere from $13,000 to about $45,000 a year was worth almost a quarter million earlier this year (about 20 years later with at least another dozen before retirement). So now I'm down about 100K in that account. Still not a bad rate of return for a $13,000 investment with many more years ahead to grow.

I know a number of people with similar stories. Not enough though. Play around with a savings calculator. The power of compounding interest is amazing. You can save a little and then stop saving and it's amazing what it will grow to in 20, 30 or 40 years.

iVillage Member
Registered: 03-19-2003
Thu, 10-23-2008 - 6:55pm
I agree with you.
iVillage Member
Registered: 03-26-2003
Thu, 10-23-2008 - 7:12pm
Why did you not get dividends last year? You haven't lived in Alaska long?
VickiSiggy.jpg picture by mamalahk

VickiSiggy.jpg picture by mamalahk

iVillage Member
Registered: 01-31-2001
Thu, 10-23-2008 - 7:17pm

Yes. We had lived here previously when my Dh was in the Air Force, left for several years, and then moved back in 2006.

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VJ-Sig
iVillage Member
Registered: 09-08-2006
Thu, 10-23-2008 - 7:19pm
You are dismissing the full implications of the

 

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