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Post by gardawg on Jul 4, 2024 16:13:06 GMT -5
the middle class is shrinking ... that's the cause of so much dissatisfaction in our society
the solution? ... don't know but I'd guess tax cuts for the 1% isn't going to fix it
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Post by cadman on Jul 4, 2024 16:14:56 GMT -5
If I can also play devils advocate the dynamics have changed. Typically the formula was you save some scratch and buy a starter home. Build equity , family grows and you buy the next house. Get old ,house is too big and you down size. Boomers were smart , they didn’t sell their starter home, they turned it into a rental. The single easiest way to build wealth in our country is to go to work and home ownership. Average home price in America right now is mid 300’s. Strap on 100 grand in student loan and 2 new cars….. you’re starting your adult life half a mIl in the hole. And we wonder why the birth rate is decreasing. But in the 60s and 70s the average home was 1200 to 1500 sq ft or so. Now the average home is 2500 sq ft or more. Average student loan debt is $38,000, not $100,000. Plus people didn't have 2 or 3 cars, multiple TVs, cell phones, computers, and a multitude of other gadgets. We own a lot more junk these days and younger people want the latest and greatest.
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Post by conchydong on Jul 4, 2024 16:16:35 GMT -5
the middle class is shrinking ... that's the cause of so much dissatisfaction in our society the solution? ... don't know but I'd guess tax cuts for the 1% isn't going to fix it The one percent can afford to move their money to another country and leave us worse off. It’s better if you give them incentives to keep their money and businesses here.
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Post by misterjr on Jul 4, 2024 16:22:16 GMT -5
If I can also play devils advocate the dynamics have changed. Typically the formula was you save some scratch and buy a starter home. Build equity , family grows and you buy the next house. Get old ,house is too big and you down size. Boomers were smart , they didn’t sell their starter home, they turned it into a rental. The single easiest way to build wealth in our country is to go to work and home ownership. Average home price in America right now is mid 300’s. Strap on 100 grand in student loan and 2 new cars….. you’re starting your adult life half a mIl in the hole. And we wonder why the birth rate is decreasing. But in the 60s and 70s the average home was 1200 to 1500 sq ft or so. Now the average home is 2500 sq ft or more. Average student loan debt is $38,000, not $100,000. Plus people didn't have 2 or 3 cars, multiple TVs, cell phones, computers, and a multitude of other gadgets. We own a lot more junk these days and younger people want the latest and greatest.
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Post by misterjr on Jul 4, 2024 16:23:48 GMT -5
My GF and I didn't have any student debt, because we didn't go to college.
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Post by conchydong on Jul 4, 2024 16:29:16 GMT -5
My GF and I didn't have any student debt, because we didn't go to college. I went to Jr. college but paid as I went. No help from the parents either. My dad was surprised when I told him that I got a AS degree in contracting and civil engineering technology. Most of that was night school.
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Post by tonyroma on Jul 4, 2024 16:39:54 GMT -5
If I can also play devils advocate the dynamics have changed. Typically the formula was you save some scratch and buy a starter home. Build equity , family grows and you buy the next house. Get old ,house is too big and you down size. Boomers were smart , they didn’t sell their starter home, they turned it into a rental. The single easiest way to build wealth in our country is to go to work and home ownership. Average home price in America right now is mid 300’s. Strap on 100 grand in student loan and 2 new cars….. you’re starting your adult life half a mIl in the hole. And we wonder why the birth rate is decreasing. But in the 60s and 70s the average home was 1200 to 1500 sq ft or so. Now the average home is 2500 sq ft or more. Average student loan debt is $38,000, not $100,000. Plus people didn't have 2 or 3 cars, multiple TVs, cell phones, computers, and a multitude of other gadgets. We own a lot more junk these days and younger people want the latest and greatest. 38k times 2 is 76k, I agree on the size of the houses, starter homes are no longer profitable for contractors.
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Post by OhMy on Jul 4, 2024 16:49:16 GMT -5
IMO
The government is too big.
Too much money is needed to feed that bloated pig.
Everyone loves this idea of raising taxes.
If you give that bloated pig more money the politicians are going to spend it all on pork and not reducing the debt. Nobody gets reelected reducing the debt.
That is the way it is folks.
No tax cuts, no tax increase cut out the unnecessary programs in place and the abuse of governmental programs.
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Post by tonyroma on Jul 4, 2024 17:02:05 GMT -5
IMO The government is too big. Too much money is needed to feed that bloated pig. Everyone loves this idea of raising taxes. If you give that bloated pig more money the politicians are going to spend it all on pork and not reducing the debt. Nobody gets reelected reducing the debt. That is the way it is folks. No tax cuts, no tax increase cut out the unnecessary programs in place and the abuse of governmental programs. Sounds great, but whose the last politician to be elected on a platform of cutting and deleting? Last I can remember is Perry from Texas. And he forgot which government agencies he wanted to cut.
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Post by OhMy on Jul 4, 2024 17:05:40 GMT -5
IMO The government is too big. Too much money is needed to feed that bloated pig. Everyone loves this idea of raising taxes. If you give that bloated pig more money the politicians are going to spend it all on pork and not reducing the debt. Nobody gets reelected reducing the debt. That is the way it is folks. No tax cuts, no tax increase cut out the unnecessary programs in place and the abuse of governmental programs. Sounds great, but whose the last politician to be elected on a platform of cutting and deleting? Last I can remember is Perry from Texas. And he forgot which government agencies he wanted to cut. That is the problem. We have too many people in this country with their hand out and the ability to vote.
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Post by tonyroma on Jul 4, 2024 17:38:00 GMT -5
Well the solution to that would be quite radical.
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Post by cadman on Jul 4, 2024 18:04:09 GMT -5
Don't need to cut anything. Just freeze discretionary spending at today's levels and let revenue catch up in 5 or 6 years.
Fix Social Security by eliminating the payroll tax cap, raise the retirement age up to 70 from 67 over 5 years and increase the payroll tax 1% to fix social security.
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Post by tonyroma on Jul 4, 2024 18:25:45 GMT -5
Reducing the budget to pre COVID spending would also help
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Post by toldya on Jul 4, 2024 19:12:26 GMT -5
Don't need to cut anything. Just freeze discretionary spending at today's levels and let revenue catch up in 5 or 6 years. Fix Social Security by eliminating the payroll tax cap, raise the retirement age up to 70 from 67 over 5 years and increase the payroll tax 1% to fix social security. Joe Moneybags only added to the problems. The federal government pays for or ends up paying for many things that they shouldn't. The illegals that came here are for the most part here to stay and for the most part will be subsidised or have many of their needs paid for by the U. S. They will play the system and chances are their offspring will do so also. These costs are going to go up ,although we are spending ,in some cases over 300 dollars a day to house them and you think nothing needs to be cut ? How much money that we don't have is already committed to green energy issues ? On the SS issue I believe an increasing number of people are getting SS disability which is hurting funding. Making people work 3 years longer to get what they paid in back, while people that never work have all their needs met doesn't sound like a plan to me .
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Post by gardawg on Jul 5, 2024 8:15:55 GMT -5
the middle class is shrinking ... that's the cause of so much dissatisfaction in our society the solution? ... don't know but I'd guess tax cuts for the 1% isn't going to fix it The one percent can afford to move their money to another country and leave us worse off. It’s better if you give them incentives to keep their money and businesses here. trickle down doesn't work ...
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