Hunger and Homelessness

[Laodicean60]

voluntarily over-contributing money to the government just sends it to a slush fund, where it can be used

I would say mis used with no oversight.

 

[RocksInMyHead]

I would say mis used with no oversight.

Yes, that's another way to put it. The point is that "Just give more money to the government voluntarily!" is a really bad way to solve budgetary issues. If you have budget problems, you either need to cut spending or raise taxes (usually both). The problem is that the only programs that ever seem to get cut are social programs, and certain segments of the population scream bloody murder any time someone suggests a tax increase - even if it wouldn't affect them.

 

[Aryeh Jay]

and certain segments of the population scream bloody murder any time someone suggests a tax increase - even if it wouldn't affect them.

look, I don't know what Socialist Commie Workers Paradise you live in, but here in 'Merica, I literally cry, cry my self to sleep every night knowing that there are evil people out there that want to force Millionaires and even Billionaires to pay unfair taxes on there well earned or inherited wealth at a similar rate that I have to for the money my employer graciously bestows upon me.

 

[RocksInMyHead]

look, I don't know what Socialist Commie Workers Paradise you live in, but here in 'Merica, I literally cry, cry my self to sleep every night knowing that there are evil people out there that want to force Millionaires and even Billionaires to pay unfair taxes on there well earned or inherited wealth at a similar rate that I have to for the money my employer graciously bestows upon me.

I realize this is satire, but it's also a practically word-for-word quote of something one of my coworkers has said, completely unironically.

 

[Aryeh Jay]

I realize this is satire, but it's also a practically word-for-word quote of something one of my coworkers has said, completely unironically.

That's creepy.

 

[Arcangl86]

The problem is, some people so believe the American dream that without reason they imagine they might suddenly become rich and then have to pay those high taxes. Of course it doesn't help with the amount of mis and disinformation out there about how taxes actually work.

 

[RocksInMyHead]

That's creepy.

A little bit - and also proof of Poe's Law.

 

[Laodicean60]

Of course it doesn't help with the amount of mis and disinformation out there about how taxes actually work.

May I ask what is being said?

 

[RocksInMyHead]

May I ask what is being said?

The most common is a total misunderstanding about how marginal tax rates work. If the top marginal tax rate is, say, 50% on income over $300,000, it's not uncommon for people to believe that, should they make $300,001, they would pay $150,000.50 in taxes. In reality, they would only be paying that 50% tax rate on $1.

 

[Laodicean60]

The most common is a total misunderstanding about how marginal tax rates work. If the top marginal tax rate is, say, 50% on income over $300,000, it's not uncommon for people to believe that, should they make $300,001, they would pay $150,000.50 in taxes. In reality, they would only be paying that 50% tax rate on $1.

I agree it's more complicated than that but I'm not sure that's what Arcang was implying.

 

[Arcangl86]

Rocks did the biggest one. Another example I can think of off the top of my head is the Estate Tax which only effects about 2500 people a year but is treated as an existential threat to the American way of life, especially for farmers.

 

[Desk trauma]

Rocks did the biggest one. Another example I can think of off the top of my head is the Estate Tax which only effects about 2500 people a year but is treated as an existential threat to the American way of life, especially for farmers.

Your supposed to use the more thrilling title: death tax.

 

[Laodicean60]

Rocks did the biggest one. Another example I can think of off the top of my head is the Estate Tax which only effects about 2500 people a year but is treated as an existential threat to the American way of life, especially for farmers.

This ex-Republican and even back then could care less about the Death Tax because 99.9% of Americans don't have an estate of $12M. I haven't heard anything about it in several years and maybe it's drummed up during election time.

disinformation out there about how taxes actually work.

This is my question to you.

 

[Arcangl86]

This ex-Republican and even back then could care less about the Death Tax because 99.9% of Americans don't have an estate of $12M. I haven't heard anything about it in several years and maybe it's drummed up during election time.

This is my question to you.

And like I said, Rocks covered the biggest thing.

 

[Laodicean60]

Rocks covered the biggest thing.

Can you explain this to an old dummy.

 

[RocksInMyHead]

Can you explain this to an old dummy.

See post #89. Marginal tax rates.

Marginal Tax Rate: What It Is and How To Determine It, With Examples

The marginal tax rate is what you pay on your highest dollar of taxable income. The U.S. progressive marginal tax method means one pays more tax as income grows.

www.investopedia.com

In short, the tax rate for each tax bracket only applies to the money within that bracket. Tax brackets are here:

Tax Rate	Single	Married filing jointly	Married filing separately	Head of household
10%	$0 to $11,000.	$0 to $22,000.	$0 to $11,000.	$0 to $15,700.
12%	$11,001 to $44,725.	$22,001 to $89,450.	$11,001 to $44,725.	$15,701 to $59,850.
22%	$44,726 to $95,375.	$89,451 to $190,750.	$44,726 to $95,375.	$59,851 to $95,350.
24%	$95,376 to $182,100.	$190,751 to $364,200.	$95,376 to $182,100.	$95,351 to $182,100.
32%	$182,101 to $231,250.	$364,201 to $462,500.	$182,101 to $231,250.	$182,101 to $231,250.
35%	$231,251 to $578,125.	$462,501 to $693,750.	$231,251 to $346,875.	$231,251 to $578,100.
37%	$578,126 or more.	$693,751 or more.	$346,876 or more.	$578,101 or more.

So, a person making $100,000 per year has a marginal tax rate of 24%, but the way that it actually breaks down is that he pays 10% on the first $11,000 ($1100), 12% on the next $33,725 ($4047), 22% on the next $50,650 ($11,143), and 24% on just the final $4,625 ($1,110), for a total tax bill of $17,400 - an effective tax rate of 17.4%.

The problem is that a lot of people misunderstand the meaning of "marginal tax rate" - so if you tell one of those people that their marginal tax rate on $100,000 is 24%, they believe that they'll actually owe $24,000 in taxes. Or, say, if they make $44,000/year, they may be reluctant to take a raise to $50,000, believing that, because the marginal tax rate jumps from 12% to 22% for income above $44,725, they would end up taking home less money - when, in reality, that 22% rate would only apply to the $5,275 of their income that falls within that bracket.

 

[Laodicean60]

See post

I know that that's why I said it was more complicated than that. #90. I get it now, Rocks is your name lol, but I never claimed to be the brightest crayon in the box. lol
I'm sorry for having you do extra work. I do have adhd and sometimes that affect how I read, and I'm embarrassed by it sometimes. Peace

 

[Reasonably Sane]

I am bothered by the hunger and homelessness in America. I believe part of the problem is the Federal reserve's monetary policy from the GFC. They kept interest rates low which allowed corporations and investors to buy up assets thus creating inflation. Home prices has risen thus causing property taxes and insurance to increase thus hurting people who were living paycheck to paycheck. Then we had COVID.

"One out of every five children in the U.S. does not have enough food to eat, but the reality of the suffering that is now taking place just isn’t sinking in for many of those that are still living the high life.

Meanwhile, homelessness in the U.S. is increasing at the fastest rate ever recorded…"

This Year, Americans Have Become Hungrier, Lonelier And More Desperate

The ominous trends that we see all around us are taking us somewhere. Needless to say, 2023 was not a good year for our country. Hunger and homelessness have been absolutely exploding, the suicide rate

themostimportantnews.com

I believe in the concept, "If you don't work, you don't eat." Yes, there are a lot of hungry people in the US, but there are also a lot of people in the US that don't work and don't look for work. I'd like to see all welfare-like programs abolished. Necessity is the mother of invention. A lot of takers just might surprise themself. FWIW, my wife's first husband died with no life insurance while she was taking care of three children under the age of 8. She worked her butt off to support them and did a better job parenting them than most two parent homes. One son started his own business and is worth millions while another learned a trade to earn a deep six figure income, while the third paid her way through college to get a stem degree and is doing quite well.

In that entire time she took one - ONE - welfare check. It repulsed her. BTW, she had no college and worked a gray collar job (airline reservations).

The only ones in the US that I have pity for regarding hunger are those that do not have the physical ability to work. And they are all red herrings regarding this issue.

 

[Reasonably Sane]

I'm retired and living on SS plus a couple hundred a month from an old pension plan. Because my retirement plan was to have a low cost of living, rather than a lot of money saved up, I am living the most free life I've known since puberty.

We own our own home free and clear and have zero debt. We moved to a low tax (for retired people) state, and our monthly cost of living is roughly 1/3 our monthly SS checks. Our property taxes on 32 beautiful acres, a new shop building and a home are roughly the price of a large pizza every month. We pay zero income tax. That last sentence is huge. The freedom that brings is hard to describe, but it's almost tangible. We don't worry about food, but if we did, we'd just expand the garden and buy more chickens.

My advise to the average poor person in the US is, move. Move out of the poor neighborhood. Your friends and neighbors are keeping you down. That is literally the first thing they should do before they bother with anything else. And if they are in their late teens and their IQ is above 85, that move should be due to them joining the military.

 

[Laodicean60]

In that entire time she took one

I mention what I feel part of the problem of the cause of the ever-expanding homelessness problem. You can't compare your blessed situation onto the rest of America. I too am retired, and I have money in the bank and living a blessed life. I reread the article and it's right leaning and bashing Biden but that's not what I'm not trying to do. I've seen homelessness get increasingly worse under both parties. Maybe it stems from our government's ignorance and assumptions like some Americans have.

I won't accept that 100% are lazy or on drugs. I'm curious what portion of opioid addicts became attics due to injury or sugary? I do know persons dealing with emotions are more prone to be addicted, the brains opioid receptors. I wrote a research paper on it in 2018. I also know that doctors prescribed them more freely in the past including the VA.

The only ones in the US that I have pity for regarding hunger are those that do not have the physical ability to work.

This does not include me, or should it include any so-called Christians. The ones you have pity for what are you doing for them?

My advise to the average poor person in the US is, move.

You make it sound so easy; seems you haven't done any critical thing on what keeps those people in the cities they live in.

I know we whine about the problem and that's why nothing ever gets done. I feel in order for us to make suggestions to our politicians we have to educate ourselves to the problems. I suggest us Christian can start buying some of these people cloths so they can look presentable at a job interview.