Posted on 12/11/2004 10:07:29 AM PST by Rakkasan1
A prosperous Twin Cities businessman didn't think he was entitled to his 2004 Social Security payments, so he became an early Santa Claus for the Salvation Army.
The anonymous man dropped a check for $14,845 into a red kettle outside the Barnes & Noble bookstore on Nicollet Mall in downtown Minneapolis sometime Wednesday.
The size and odd amount of the check piqued the curiosity of Salvation Army spokeswoman Annette Bauer, who sought out the man for an explanation.
On Friday the man, who declined to be identified, released a written statement through Bauer.
(Excerpt) Read more at twincities.com ...
truer words have not been said... also proves we need to means test "sosh security".
"He noted the donation was tax deductible, adding, "Undoubtedly, the Salvation Army will make more productive use of the money than would be the case if I returned it to the government." "
I agree with him here, though it's worth explaining the tax treatment. The amount he donated to Salvation Army will be deducted from his Adjusted Gross Income, and then the tax rate will be applied to his AGI to determine his tax liability. So, in tax terms, he is saving a percentage (whatever his tax rate is, let's say 30%) of the amount he donated to Salvation Army. He's not subtracting the SA donation from his tax bill. So, this is not money that he'd have to pay to the government anyway, which means he's even more generous than he's implying.
A real humanitarian act.
thanks for that. I think we need to means test.
I would think the Tom Dashle dims/DU of the world would be in agreement,too. After all, this rich guy was obviously just a lucky winner of "life's lottery" ,right?
It appears someone actually knows the meaning behind Christmas.
Merry Christmas ping
"thanks for that. I think we need to means test.
I would think the Tom Dashle dims/DU of the world would be in agreement,too. After all, this rich guy was obviously just a lucky winner of "life's lottery" ,right"
And then we need to determine what it takes for a family and then make sure all people who work are means tested and get no more than their peers. /Sarcasm off
FYI, I worked my tail off and paid in the max (much of it at double rate when self employed) every year. I get sick of the chattering nabobs about who should get what from SS.
If I had cheated like hell and declared no income, I would get maybe little or naught, but I paid in for true income earned and those monies were in turned paid out to the elderly drawing SS then. I did not regret doing so at the time, my SS benefits I now recieve were earned, they are bloody well not charity or to be treated as means tested welfare.
sooner or later we'll all get weaned from sosh security-like it or not, one way or the other.
It'll be via raising the age, lessening payout amounts,
or a combination of both...or means testing.
So...perhaps, from your perspective, it works.
From mine, it is an unadulterated Ponzi scheme.
Forgive me if I am miffed by the greatest intergenerational theft of wealth ever concieved.
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