Young Man's Financial House
Oct 14, 2022 17:19:14 #
Longshadow wrote:
Ummm, you?
I was referring to expense comparison,
albeit a small amount of his cable bill,
prompted by the discussion about mortgage v. renting.
Have a great day.
I was referring to expense comparison,
albeit a small amount of his cable bill,
prompted by the discussion about mortgage v. renting.
Have a great day.
I refuse to be drawn into another one of your pointless, unwinnable arguments so this is the end of this topic for me.
As you say, have a great day.
Oct 14, 2022 17:45:35 #
stanikon wrote:
I refuse to be drawn into another one of your pointless, unwinnable arguments so this is the end of this topic for me.
As you say, have a great day.
As you say, have a great day.
Oct 14, 2022 19:20:32 #
Oct 14, 2022 19:27:46 #
HOHIMER wrote:
How so? Enlighten us!
I suspect he is referring to the fact that the super rich pay a much smaller percentage of their income in taxes than the average person.
This is due to the fact that the super rich have the resources to affect the tax code and put things into it for their benefit. It also results from the fact that their income is structured in such a way as not to be called 'income'.
For example, someone who is paid in stock, has no income, just stock. The stock is not taxable until it is sold. But it's an asset. Now if that person needs money for some purpose, he borrows money against an asset (e.g. the stock). Now he has money, but no income. And the interest is tax deductible. To pay off the loan he can borrow more money, same result.
Last time I looked at a tax return, there was a section that referred to 'alternative minimum tax'. I wonder where that comes into this equation? (I am not an accountant and the tax code is meaningless gibberish to me).
Oct 14, 2022 22:00:27 #
jerryc41 wrote:
That must be a typo.
JimBart was absolutely correct! Look at the union organizer now a millionaire, the Arkansas crime family, the absolute failure at everything except heading a criminal gang - and getting away with it so far (there's always hope for the future).
Loren - in Beautiful Baguio City
Oct 14, 2022 22:05:01 #
stanikon wrote:
I refuse to be drawn into another one of your pointless, unwinnable arguments so this is the end of this topic for me.
As you say, have a great day.
As you say, have a great day.
Longshadow's comments usually are quite perceptive, and on point. Would others were as aware.
Loren - in Beautiful Baguio City
Oct 14, 2022 22:21:15 #
Oct 14, 2022 23:33:33 #
Tom467
Loc: North Central Florida
Get a second job, he only needs 8 hours of sleep, get rid of Cable TV, Netflix, the second car, cut the entertainment expenses and pay extra on the principle on his loans. Do not ask the public to pay for his education, he incurred the debt he is responsible for paying it.
Tom
Tom
Oct 15, 2022 07:12:09 #
bobbyjohn wrote:
This is a hypothetical challenge for all the finan... (show quote)
He should have attended a trade school. Less debt and better chances of good paying jobs/careers. Now he stepped in it and it's his responsibility..oops no longer an expected course of action.
Oct 15, 2022 08:11:13 #
Oct 15, 2022 08:47:50 #
He should hire 87,000 armed IRS agents and audit everyone in the country.......oh wait, that's being done already.
Oct 15, 2022 10:52:26 #
Oct 15, 2022 10:54:31 #
This is the OP. Many of you are still responding as to the hypothetical situation of a young man. That was a ruse to get you thinking about the USA Financial House. Please go back and read The Reveal on page 5 of this thread. The actual reason for this hypothetical situation is to relate it to the USA Financial House.
Oct 15, 2022 10:58:11 #
bobbyjohn wrote:
This is the OP. Many of you are still responding as to the hypothetical situation of a young man. That was a ruse to get you thinking about the USA Financial House. Please go back and read The Reveal on page 5 of this thread. The actual reason for this hypothetical situation is to relate it to the USA Financial House.
Many people read the initial post and immediately respond.
Then they may read more..... maybe.
Oct 15, 2022 11:08:38 #
bobbyjohn wrote:
This is the OP. Many of you are still responding as to the hypothetical situation of a young man. That was a ruse to get you thinking about the USA Financial House. Please go back and read The Reveal on page 5 of this thread. The actual reason for this hypothetical situation is to relate it to the USA Financial House.
Well, aren’t you the clever one! You tricked us…although I’m not sure why that was necessary😳
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.