SW Florida United States
Member #145,667
August 11, 2013
152 Posts
Offline
How much to be set for life? Well, given the way cost of living keeps rising and rising, $5k per week would be the minimum to be able to enjoy life now and set some aside for the day when gas is $10/gallon, a steak from the supermarket costs $50 and my favourite bottle of red is $100.
Gurnee, Illinois United States
Member #49,729
February 12, 2007
951 Posts
Offline
Quote: Originally posted by noise-gate on Aug 18, 2013
Congress has debated your " push for simplifying the tax code"- Forbes when running for President tried that l believe and it got no traction. Heck there is even word of Congress trying to tax the Internet.Your idea is DOA at present.
As for the guy who won in 2008 hitting the JP- they all have hit the JP going back as far as the eye can see.
All make promises that they do not keep.Take Nixon..
" Nixon did not understand the students’ protests against his Vietnam War. He saw himself as a man wanting to end the war, so to him there was nothing to disagree about. Nixon indeed conducted all his Vietnam politics in order the end the war, but in order to end the war once the United States were in a position to end it “honorably”. In other words, to end the war, he carried it further and intensified it."
Actually, my idea is not DOA. When people look at their tax bills and the time it takes to file their taxes each year going forward under Obama, the tide will shift for a simpler, fairer way to pay tax revenue the government needs to operate. The evidence is already showing that more and more people who hold dual citizenship and are living abroad are giving up their US citizenship as a result of FATCA, the income reporting requirement levied on US citizens living and working abroad.
The problem we have with our current Congress is that we lack business-minded and financial minded people in the Senate and House. Far too many Congress men and women are more focused on making a career of the office rather than doing the right work for the country.
I have always said I will develop myself an exit plan in the event Obama gets reelected....cannot elaborate more since I am certain the NSA is taking a gander at this post, even as I type it! But just to allay any concerns, my exit plans are a win-win for both me and the US.
Get MONEY!!! Winning a JACKPOT lottery is one MIRACLE I desire for 2019!!! NOW come to my subconscious mind you 6 winning numbers!
Kentucky United States
Member #32,651
February 14, 2006
10,302 Posts
Offline
Quote: Originally posted by Pita Maha on Aug 19, 2013
How much to be set for life? Well, given the way cost of living keeps rising and rising, $5k per week would be the minimum to be able to enjoy life now and set some aside for the day when gas is $10/gallon, a steak from the supermarket costs $50 and my favourite bottle of red is $100.
I read an article where the professional golfer Phil Mickelson pays 60% of his golf earnings in taxes because of changes made to Federal, State, and local tax rates. If the same tax rates are applied to $5000 a week, net is $2000 a week and today it could qualify as "set for life". But as you pointed out, prices could drastically rise and in 10 years even $5000 a week might be enough to be "set for life".