General Economic chit chat/updates.

[Desertbreh]

I love your boomer hate bro. It makes a lot more sense than hating Toyota price creep.

They wonder why young people are not having kids. And one of the lowest birth rates on record. Because young folks are taxed/financially ruined to pay for the olds swimming in money.

For every young person trying to get educated it should come not from a cali nurse paying 55% in taxes but a boomer sitting in a 4 million dollar home that gets to pay $1400 a year in prop taxes. The system is completely fucked against us... and I am an old already... but clearly still suffering through it while my boomer neighbors are enjoying watching the world burn (literally and figuratively). Anyone under the age of 45 should not be paying anything over 20% in taxes... while anyone over 65 should really start to pay their fair share in order to fund the next generation as opposed to the other way around.

Why? How can that be fair?
1. They haven't paid their fair share or anywhere near that because everyone is paying for them NOW.
2. We need to ensure the best is coming to our next generations as opposed to crippling them with the legacies of the olds reaping all the benefits. Otherwise the system will COLLAPSE.

So tell me about your plan for taxing the elderly.

[max225]

They wonder why young people are not having kids. And one of the lowest birth rates on record. Because young folks are taxed/financially ruined to pay for the olds swimming in money.

For every young person trying to get educated it should come not from a cali nurse paying 55% in taxes but a boomer sitting in a 4 million dollar home that gets to pay $1400 a year in prop taxes. The system is completely fucked against us... and I am an old already... but clearly still suffering through it while my boomer neighbors are enjoying watching the world burn (literally and figuratively). Anyone under the age of 45 should not be paying anything over 20% in taxes... while anyone over 65 should really start to pay their fair share in order to fund the next generation as opposed to the other way around.

Why? How can that be fair?
1. They haven't paid their fair share or anywhere near that because everyone is paying for them NOW.
2. We need to ensure the best is coming to our next generations as opposed to crippling them with the legacies of the olds reaping all the benefits. Otherwise the system will COLLAPSE.

So tell me about your plan for taxing the elderly.

Put them in the tax brackets based on net worth. And undo the tax burden on the young. Flip the script.

https://sanfrancisco-ca.county-taxes.co ... 9f754d22c5

Here is Nancy's personal home... 1 of many. The prop taxes are 40k a year... The property is assessed at about 3.4M dollars officially, market value is 23M... SF taxes are roughly 1.3% per year... should be paying around 300k a year in taxes... yet we are. Offset the prop taxes of young families buying their first home...

[max225]

So one proposal is anyone with above 500k in net worth should be paying the full state prop taxes regardless of when the house was purchased. And then sliding scale down for first time home owners especially with anyone with kids.

[golftdibrad1]

So one proposal is anyone with above 500k in net worth should be paying the full state prop taxes regardless of when the house was purchased. And then sliding scale down for first time home owners especially with anyone with kids.

ah yes, more bureaucrats managing other people's money is certainly the answer.

[Desertbreh]

So one proposal is anyone with above 500k in net worth should be paying the full state prop taxes regardless of when the house was purchased. And then sliding scale down for first time home owners especially with anyone with kids.

That only rewards people leasing TRX's and punishes you for drinking cheap vodka, alone, in your lime green paid for Tacoma.

[max225]

So one proposal is anyone with above 500k in net worth should be paying the full state prop taxes regardless of when the house was purchased. And then sliding scale down for first time home owners especially with anyone with kids.

ah yes, more bureaucrats managing other people's money is certainly the answer.

Well clearly less taxes is the answer etc... because ineptitude of the .gov has been proven over and over again. Yet I am trying to balance the book by having those olds with multiple financial benefits being equally assessed over those who are trying to raise the next generation.

Fuck me right?

[max225]

So one proposal is anyone with above 500k in net worth should be paying the full state prop taxes regardless of when the house was purchased. And then sliding scale down for first time home owners especially with anyone with kids.

That only rewards people leasing TRX's and punishes you for drinking cheap vodka, alone, in your lime green paid for Tacoma.

Shots across the bow!

[golftdibrad1]

ah yes, more bureaucrats managing other people's money is certainly the answer.

Well clearly less taxes is the answer etc... because ineptitude of the .gov has been proven over and over again. Yet I am trying to balance the book by having those olds with multiple financial benefits being equally assessed over those who are trying to raise the next generation.

Fuck me right?

how about this: Taxation is theft.

Reduce size and scope of government. Property taxes are a local / state thing - let the winners and losers of this system play out in the various cities and states.

Abolish the income tax, and impose a flat sales tax for everything - including business and industry.

For every rich boomer you see in the shit littered streets of the Frisco promised land there are 5 who have done a piss poor job of managing their shit and live in poverty off SSN due to bad decisions. Why punish the successful?

Why is it you think so much money is locked up in property that isnt re-assessed and is not classified as 'income'? Want less of something - Tax it.

Fundamentally I agree tho - NO ONE should be paying over 20% in taxes. and i mean TOTAL. I'm sure we are all well over that.

[D Griff]

Age Average Net Worth. This is absolutely fucked.
18-24 $112,104
25-29 $120,183
30-34 $258,075
35-39 $501,295
40-44 $590,710
45-49 $781,936
50-54 $1,132,497
55-59 $1,441,987
60-64 $1,675,294
65-69 $1,836,884
70-74 $1,714,085
75-79 $1,629,275
80+ $1,611,984

Honestly, I don’t even believe those averages on the sub 50 end… my net worth was negative until like age 27. I’d consider myself to have a privileged upbringing as well, like my parents helped pay for my education, scholarship paid for more than half of my college….

My still biggest regret of life is not buying a house in 2012 when I was so close but got talked out of it. I’d be like a cool half mill up on a purchase I was thinking of making at 110-125k.

The housing thing is truly fucked. I saw my niece yesterday who is having a baby in September. She and her bf moved to bumfuck GA to rent a house on my aunt’s property and they really want to move back to CLT but can’t afford to live anywhere so they’re stuck in a woods swamp where the nearest grocery store is a 10 mile drive. They don’t have amazing jobs obviously but her BF is an Army veteran and manages a DC, which you’d think would be decent enough to get a one bedroom.

[D Griff]

Check this out , almost $100k/year to attend my Alma mater. We should all be counting our blessings that we’re and not gen Z.

[Desertbreh]

Check this out , almost $100k/year to attend my Alma mater. We should all be counting our blessings that we’re and not gen Z.

That is absurd.

[max225]

Check this out , almost $100k/year to attend my Alma mater. We should all be counting our blessings that we’re and not gen Z.

Miami is off the rocker on more than one level... you pay for the privilege of being in billionaire heaven.

[D Griff]

Sure, Miami is but it does reinforce Max’s point. My own kid should I have one could never go to my school. And my parents are not wealthy at all.

[D Griff]

Still curious on the source of those net worth averages… who under 25 has $100k? I think no one.

[J-Ho-Fo-Show69]

I wondering if boomers will FUCK everyone in the stock market next.
1. They already fucked everyone with college tuition (They got it for $200 a year and current students are out 15>80k a year)
2. They fucked everyone on the pensions (they overloaded the system and made it unsustainable and yet drawing the benefits while no one else can join)
3. They fucked everyone to get free healthcare (overloading the system while paying 2 pennies per month, while a working fam is paying upwards of 4 figures)
4. They fucked/are fucking everyone with their real estate "investments" (holding homes purchased for 2 grapes and a fruit roll up, and juicing the rental homes airbnb market as "investments" constraining inventories, paying jack shit in prop taxes compared to anyone buying right now)


5. stonks have got to be next... the strategy always goes... PUMP early on... and reap the benefits long term while pricing/regulating everyone out of entering the market... (I am thinking the new taxes will completely obliterate those hoping to live off their investments, like unrealized cap gains, net investment tax etc, while they rode their wave)

Boomers are the first generation in history that not only is better off than the generation they replaced but also their kids/next generation,
Discuss.

Taxing unrealized capital gains is the most atrocious thing I’ve heard in a long time. I don’t care what income level, that’s just criminal.

Also, they can say all they want about raising the LT capital gains on only earners over $1.0M, but it’s only a matter of time before they decide to make it universal. Future budgets being proposed right now are fucking wacko. We need someone with some goddamn common sense.

Maxx, I don’t know what to say about Calis real estate taxes, I’m not familiar with that, but it sounds whack as fuck.

I don’t agree taxing someone on their net worth. Just because that person worked hard, went into a higher paying job and sacrificed, doesn’t mean they should pay more in taxes.

Most of the next generation behind gen z will never own a home. Corporate investors, hedge funds, and foreign money are the problem here, not boomers holding onto their houses in SF!

Housing, food, etc will only get more expensive during our lifetime. Imagine how much you’ll be bitching when you have to charge your electric car and it costs more than your house…

[max225]

I wondering if boomers will FUCK everyone in the stock market next.
1. They already fucked everyone with college tuition (They got it for $200 a year and current students are out 15>80k a year)
2. They fucked everyone on the pensions (they overloaded the system and made it unsustainable and yet drawing the benefits while no one else can join)
3. They fucked everyone to get free healthcare (overloading the system while paying 2 pennies per month, while a working fam is paying upwards of 4 figures)
4. They fucked/are fucking everyone with their real estate "investments" (holding homes purchased for 2 grapes and a fruit roll up, and juicing the rental homes airbnb market as "investments" constraining inventories, paying jack shit in prop taxes compared to anyone buying right now)


5. stonks have got to be next... the strategy always goes... PUMP early on... and reap the benefits long term while pricing/regulating everyone out of entering the market... (I am thinking the new taxes will completely obliterate those hoping to live off their investments, like unrealized cap gains, net investment tax etc, while they rode their wave)

Boomers are the first generation in history that not only is better off than the generation they replaced but also their kids/next generation,
Discuss.

Taxing unrealized capital gains is the most atrocious thing I’ve heard in a long time. I don’t care what income level, that’s just criminal.

Also, they can say all they want about raising the LT capital gains on only earners over $1.0M, but it’s only a matter of time before they decide to make it universal. Future budgets being proposed right now are fucking wacko. We need someone with some goddamn common sense.

Maxx, I don’t know what to say about Calis real estate taxes, I’m not familiar with that, but it sounds whack as fuck.

I don’t agree taxing someone on their net worth. Just because that person worked hard, went into a higher paying job and sacrificed, doesn’t mean they should pay more in taxes.

Most of the next generation behind gen z will never own a home. Corporate investors, hedge funds, and foreign money are the problem here, not boomers holding onto their houses in SF!

Housing, food, etc will only get more expensive during our lifetime. Imagine how much you’ll be bitching when you have to charge your electric car and it costs more than your house…

I disagree boomers are absolutely the problem. It has been proven over and over again that they were able to work on 1 job and buy their one fruit roll up house and are now retired on social security and free healthcare.

Millenials gen z and gen alpha can’t reap any of the social benefits currently being paid into. So it’s actual theft. The amount of taxes someone is also paying into the same house a boomer is currently retiring in is just atrocious as well. They can afford it … the younger generations can’t. Our country is literally dying as a result.
The olds should not be the wealth holders because they rig the system in their own favor

[D Griff]

I mean, I do agree that something should be done about housing prices (not sure what) and other costs that are crippling, but haven't olds always had more wealth? The boomer gen will be gone in 20 years and that will get passed down to , then we will be the ones hated by younger generations.

[max225]

I mean, I do agree that something should be done about housing prices (not sure what) and other costs that are crippling, but haven't olds always had more wealth? The boomer gen will be gone in 20 years and that will get passed down to , then we will be the ones hated by younger generations.

This is the first time an old generation is better off than the young.

[J-Ho-Fo-Show69]

I mean, I do agree that something should be done about housing prices (not sure what) and other costs that are crippling, but haven't olds always had more wealth? The boomer gen will be gone in 20 years and that will get passed down to , then we will be the ones hated by younger generations.

It’s not just housing, everything is expensive. $65k for a new Tacoma? Crazy!

We will eventually be the old guard hated by the youth.

The same house you buy for $1M today, you’ll sell 30 years from now for $5M+. That buyer will be bitching that millennials had it so easy.

[max225]

I mean, I do agree that something should be done about housing prices (not sure what) and other costs that are crippling, but haven't olds always had more wealth? The boomer gen will be gone in 20 years and that will get passed down to , then we will be the ones hated by younger generations.

It’s not just housing, everything is expensive. $65k for a new Tacoma? Crazy!

We will eventually be the old guard hated by the youth.

The same house you buy for $1M today, you’ll sell 30 years from now for $5M+. That buyer will be bitching that millennials had it so easy.

No that won’t happen. Our generation didn’t breed. There will be no kids/young adults to sell to.

[Desertbreh]

Taxing unrealized capital gains is the most atrocious thing I’ve heard in a long time. I don’t care what income level, that’s just criminal.

Also, they can say all they want about raising the LT capital gains on only earners over $1.0M, but it’s only a matter of time before they decide to make it universal. Future budgets being proposed right now are fucking wacko. We need someone with some goddamn common sense.

Maxx, I don’t know what to say about Calis real estate taxes, I’m not familiar with that, but it sounds whack as fuck.

I don’t agree taxing someone on their net worth. Just because that person worked hard, went into a higher paying job and sacrificed, doesn’t mean they should pay more in taxes.

Most of the next generation behind gen z will never own a home. Corporate investors, hedge funds, and foreign money are the problem here, not boomers holding onto their houses in SF!

Housing, food, etc will only get more expensive during our lifetime. Imagine how much you’ll be bitching when you have to charge your electric car and it costs more than your house…

I disagree boomers are absolutely the problem. It has been proven over and over again that they were able to work on 1 job and buy their one fruit roll up house and are now retired on social security and free healthcare.

Millenials gen z and gen alpha can’t reap any of the social benefits currently being paid into. So it’s actual theft. The amount of taxes someone is also paying into the same house a boomer is currently retiring in is just atrocious as well. They can afford it … the younger generations can’t. Our country is literally dying as a result.
The olds should not be the wealth holders because they rig the system in their own favor

[golftdibrad1]

I wondering if boomers will FUCK everyone in the stock market next.
1. They already fucked everyone with college tuition (They got it for $200 a year and current students are out 15>80k a year)
2. They fucked everyone on the pensions (they overloaded the system and made it unsustainable and yet drawing the benefits while no one else can join)
3. They fucked everyone to get free healthcare (overloading the system while paying 2 pennies per month, while a working fam is paying upwards of 4 figures)
4. They fucked/are fucking everyone with their real estate "investments" (holding homes purchased for 2 grapes and a fruit roll up, and juicing the rental homes airbnb market as "investments" constraining inventories, paying jack shit in prop taxes compared to anyone buying right now)


5. stonks have got to be next... the strategy always goes... PUMP early on... and reap the benefits long term while pricing/regulating everyone out of entering the market... (I am thinking the new taxes will completely obliterate those hoping to live off their investments, like unrealized cap gains, net investment tax etc, while they rode their wave)

Boomers are the first generation in history that not only is better off than the generation they replaced but also their kids/next generation,
Discuss.

Taxing unrealized capital gains is the most atrocious thing I’ve heard in a long time. I don’t care what income level, that’s just criminal.

Also, they can say all they want about raising the LT capital gains on only earners over $1.0M, but it’s only a matter of time before they decide to make it universal. Future budgets being proposed right now are fucking wacko. We need someone with some goddamn common sense.

Maxx, I don’t know what to say about Calis real estate taxes, I’m not familiar with that, but it sounds whack as fuck.

I don’t agree taxing someone on their net worth. Just because that person worked hard, went into a higher paying job and sacrificed, doesn’t mean they should pay more in taxes.

Most of the next generation behind gen z will never own a home. Corporate investors, hedge funds, and foreign money are the problem here, not boomers holding onto their houses in SF!

Housing, food, etc will only get more expensive during our lifetime. Imagine how much you’ll be bitching when you have to charge your electric car and it costs more than your house…

italics: yes 100%. literal theft.

bold, also yes. in 1913 when the 16th amendment was ratified: "The Revenue Act of 1913 imposed a one percent tax on incomes above $3,000, with a top tax rate of six percent on those earning more than $500,000 per year. Approximately three percent of the population was subject to the income tax."

3k in 1913 was 94,646.06.

this site used fake math to say that was an equivalent earnings of 543,350.25 https://www.measuringworth.com/dollarva ... MPENSATION

The average annual wage for all industries in 1913 was $438, while state and local government workers earned $590 per year, and public school teachers earned $328 per year. Building trades workers earned 37 cents per hour. The U.S. Bureau of Labor Statistics reports the average annual salary as $61,900 in 2024

If this wealth tax thing happens it WILL eventually expand to all of us, just like the fucking income tax.

I say again, if you want less of something, tax it. Do you want the USA to be less wealthy Max?

[golftdibrad1]

I mean, I do agree that something should be done about housing prices (not sure what) and other costs that are crippling, but haven't olds always had more wealth? The boomer gen will be gone in 20 years and that will get passed down to , then we will be the ones hated by younger generations.

Maybe the government could stop borrowing 30-40 cents on every dollar they spend annually driving inflation through the roof?

I disagree boomers are absolutely the problem. It has been proven over and over again that they were able to work on 1 job and buy their one fruit roll up house and are now retired on social security and free healthcare.

Millenials gen z and gen alpha can’t reap any of the social benefits currently being paid into. So it’s actual theft. The amount of taxes someone is also paying into the same house a boomer is currently retiring in is just atrocious as well. They can afford it … the younger generations can’t. Our country is literally dying as a result.
The olds should not be the wealth holders because they rig the system in their own favor

you are oversimplifying the issue. You are also guilty of hating the player and not the game. You are correct about SSN and CMS (medicare / caid).

I violently disagree with your proposed solution here; but you are pretty spot on with the problem statement. Housing is becoming unaffordable as a percentage of annual income for too many. There are lots of reasons why that is, and we should fix them. Inflation via bad monetary policy is one, and stagnant wages from the same is another compounding the problem.

Another is the outsourcing of so much heavy industry and production to china - those good paying factory jobs you speak of. As a result to earn a good wage one has far more limited options, and most involve some kind of post high school education, and what's happened to those prices compared to housing inflation look like comparing a mountain and an anthill.

The easiest fix in the short term IMHO is to get government out of healthcare. The regulatory compliance, spending, and collusion with insurance companies have conspired to inflate that cost wildly out of control. Mandates on what kind of insurance you have to have, whats covered, employers having to provide it, etc drive up coverage cost and drive down wages. Fix that and lots more people will have extra money in their pockets and companies can hire more. Its also by far the largest un-funded hole in the US budget.

[max225]

If one doesn’t “oversimplify” you get nothing done and write 10000 page regulations on how high to cut the grass and if birds fart.

Facts are facts. Our younger generations are being fucked into oblivion and carrying the golden geese into the retirement Homes.

It’s a bit more troubling than just who is paying what. Soon enough there is no one left to pay for shit because you can’t have a rapidly declining populous. That’s the strongest indicator for a failed society. So I’m saying … let’s address the biggest issue of them all… younger people getting reamed and impossible to succeed (for the majority)

Importing poor and uneducated from all over the world will do nothing to fix it

[Johnny_P]

If one doesn’t “oversimplify” you get nothing done and write 10000 page regulations on how high to cut the grass and if birds fart.

Facts are facts. Our younger generations are being fucked into oblivion and carrying the golden geese into the retirement Homes.

It’s a bit more troubling than just who is paying what. Soon enough there is no one left to pay for shit because you can’t have a rapidly declining populous. That’s the strongest indicator for a failed society. So I’m saying … let’s address the biggest issue of them all… younger people getting reamed and impossible to succeed (for the majority)

Importing poor and uneducated from all over the world will do nothing to fix it

People flat out can’t afford to have kids. If you’ve got $250k in college debt and are working a job that pays $80k a year there’s no way you’re getting a house, a decent car, and raising screamy potatoes. I make a decent salary but man I’m concerned as hell about finances, because the mortgage, house repairs, and general cost of everything is eating me alive.