Just what ever happened to the quaint idea of working and saving to support what ever you want to do? What ever happened to the idea of delayed gratification? This socialistic stuff is undermining the United States.
>>Just what ever happened to the quaint idea of working and saving to support what ever you want to do? What ever happened to the idea of delayed gratification? This socialistic stuff is undermining the United States.<<
Destroying it.
Back when I went to college, I worked a full-time job and maintained good grades and paid most of my tuition myself.
Today, there are actually some kids are graduating college at age 22 with ZERO work experience. It’s amazing.
Of course tuition is astronomically higher today than it’s ever been.
Also remember how parents used to save money for their kids college education? The whole 20 years they will save money. I guess if the government is going to pay for it, why bother save anymore..right?
When I graduated High Schoolin 1960 there was no doubt in my mind that college wasn’t in my future.
My parents did not have money and they had taught me responsibility, that bills had to be paid and borrowing money wasn’t the way to make it in life.
10 days out of High School I was on my way to Ft, Knox for basic training.
Todays kids have been brought up by parents who think nothing of borrowing and live off credit, so they start right out borrowing $50,000 to $100,000 to continue their education.
Now that’s fine for them,but then they are saddled with the debt, and they cry about it. I have paid taxes my whole life, I got my kids through Community College, it was all I could afford, they worked while they attended.
Still paying taxes for schools for other people’s kids to get through High School, why should I have to pay to get them through college?Public school should be paid for, I don’t have a problem with that, but those who elect to go to college need to pay for it themselves.
‘Quaint idea’ — I like your phrasing. College is just a business. It is way over-priced, they do not deliver what they promise, they brainwash your kids on YOUR dime, and the market should take care of finishing the bad ones off. There is no earthly reason why We the People should purchase this commodity for Lazy Loafers.
arrggg, where IS the common sense these days?
Several generations beginning with the FDR worshippers look to Washington as the source from whom all blessings flow.
People have long spoke and acted as though our president is a king.
Just what ever happened to the quaint idea of working and saving to support what ever you want to do? What ever happened to the idea of delayed gratification? This socialistic stuff is undermining the United States.
It’s called the IRS and the Banking system.
The game is that you are taxed yearly upon every dollar you save to buy equipment, inventory, cars, personal property or any other reason. It is a CRIME to set aside any money and not pay taxes on it until it is spent.
The sole reason for this is so that you are forced to spend what you have and BORROW money to buy what you would normally save to purchase. The IRS laws force the individual or business to deal with the banks so that the banking industry can reap the profits guaranteed by IRS regulations that force individuals to pay taxes on every penny they earn, even if some is reserved for later purchases or for financial security.
This arrangement between Big Banks and the IRS has completely taken the wind out of individual savings accounts.
For example: You are single and make $100,000 a year. The IRS takes 19% ($18,738)of it for income tax, SS and Medicare. This means you only had $81,000 to live on during the taxed year. If you had been allowed to save $25,000 tax free that year your taxes would have been drastically reduced and probably into a lower tax bracket.
Better yet, if you co-habituated with a partner and the IRS allowed a deduction the same as “file as married” you would have received an even greater deduction to save if the partner did not earn income.
I don’t mention currently approved IRS retirement private accounts such as IRA...etc since they are still controlled by both the banks and IRS and funds cannot be freely used at the discretion of the depositor. This is simply more collusion between the IRS and the Banks.
Under IRS guidelines, no matter how you slice it, the relationship between the two exists due the single fact that IRS regulations force you into the waiting arms of the banks. No wonder “too big to fail” was the battle cry when the economy almost collapsed.
The only solution is a Flat or Sales tax that fairly taxes all at the same rate with no exceptions and allows all money not spent to rest in peace until it is actually used.
I won’t live long enough to see that.