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True. Cost of lining in America needs to account for 3 major things, healthcare, taxable wage and housing. So many jobs offer the bare minimum health care of that at all.
OFFICIAL 2020 STIMULUS CHECK THREAD
- Thread in 'General' Thread starter Started by nawghtyhare,
- Start date
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not true
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75k is okay over here in San Francisco, I will have to move far out when I look for a house though. Even condos and townhouses are 600k and up within the big cities over here(Oakland, SF, San Jose).
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You MIGHt find somthin for $600k in the Bay. And it’ll be in the hood and barely 1000sqft...
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That’s the thing though. It’s that mentality that it’s okay / enough is what allows the rich to continue and widen the gap.
The fact that we can’t subtract our rent costs from our income as a deduction and pay taxes on the net is a complete joke. The truly rich get so many tax breaks and avenues to make their money work for them. We offer our middle class such peanuts of policy protections to live an enjoyable life. Between healthcare and housing most people are constantly on that treadmill.
Again, savings is not impossible if you are willling to make sacrifices. I am. My wife and I lived with a roommmate for the past 3 years. We finally moved into a studio this year and now finally after 5 years of working is my salary high enough for us to comfortably afford a 1 bedroom. I’m just saying that sucks and shouldn’t be the norm of expectation. A lot of people aren’t as lucky as us and can’t make sacrifices as easily due to any variety of reasons. Oddly, if you are really low income California does have some good programs. It’s the middle class that’s really hurting with this treadmill. My buddy has been working for 13 years at the same company and barely has anything to show for it from a savings perspective. He’s had a normal progression of 45k out of college to 110k now. Between rent, student loans, and non baller life expenses he’s saved so little.
The fact that we can’t subtract our rent costs from our income as a deduction and pay taxes on the net is a complete joke. The truly rich get so many tax breaks and avenues to make their money work for them. We offer our middle class such peanuts of policy protections to live an enjoyable life. Between healthcare and housing most people are constantly on that treadmill.
Again, savings is not impossible if you are willling to make sacrifices. I am. My wife and I lived with a roommmate for the past 3 years. We finally moved into a studio this year and now finally after 5 years of working is my salary high enough for us to comfortably afford a 1 bedroom. I’m just saying that sucks and shouldn’t be the norm of expectation. A lot of people aren’t as lucky as us and can’t make sacrifices as easily due to any variety of reasons. Oddly, if you are really low income California does have some good programs. It’s the middle class that’s really hurting with this treadmill. My buddy has been working for 13 years at the same company and barely has anything to show for it from a savings perspective. He’s had a normal progression of 45k out of college to 110k now. Between rent, student loans, and non baller life expenses he’s saved so little.
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moderndarwin
The amounts you talking is it net or gross yearly?
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A lot of people are going to owe this year cause they opted not to have taxes taken out. That's a hefty $5k bill right there.
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75k not enough but than the first thing mentioned is a 401k lol. Again not too familiar with Cali but that just sounded wild to me.
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Yup. The tax hold is ultimately a stupid idea. I see the idea behind it but you’ll either hurt now or hurt a LOT later
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Might start LHYS Investments. Where you gimmie your stimmy for a set time and I get it back to you + and % increase.
So if you and your spouse gimie 2800 for 3 months i give you back 2800 + 350 (12%). You cant get that high of a guaranteed rate of return anywhere.
So if you and your spouse gimie 2800 for 3 months i give you back 2800 + 350 (12%). You cant get that high of a guaranteed rate of return anywhere.
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Is contributing to a retirement plan not norm somewhere? Think everyone contributes to their 401k at most companies unless you are only talking about retail or restaurant type work.
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Most middle class people dont participate in 401k/IRA - they have the mentality that they're already paying in a certain amount to Social Security so why go any further? Then you have the lottery ticket crowd who'll pool in hundreds of dollars everytime the Powerball reaches a 9 figure level. They understand on an intellectual level that mathematically the odds are against them, but to paraphrase Anita Baker- they're caught up in the rapture. They enjoy fantasizing about getting rich momentarily. And its a social bonding thing with their co-workers. Every morning when they clock into work they have something interesting to talk about, aside from the usual current events.
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These probably the same people complaining about the rich paying high income taxes.... on their 35k salary. Hustling backwards.
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This is why I don't understand how limits are even being discussed, it's a part of the same payment.
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So did they add limits or not?
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Not really a true statement. These are 2 completely different bills. This isn’t a continuation of anything
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No, he's talking complete nonsense. Here's a link to California household income data by county. Most of the state is not like that.
Even in the highest cost of living areas, e.g. most of the Bay Area, a single person with no kids can live well enough on 75K
Anecdotally, I live in an expensive part of the Bay and didn't begin to stop feeling pressed financially until 100K, but I have a pretty significant student loan burden and I've always overspent on leisure and entertainment.
I can't lie > 35K was stressful as **** and 40-50K was pretty uncomfortable. But again, I'm in one of the highest COL areas.
I don't know what the **** living like an immigrant means (I'm being facetious, I know exactly what he meant and it was a ridiculous thing to say) but claiming 75K will get you nothing anywhere in California is absurd.
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Appreciate you stating the obvious,, but this discussion began as part of an increase to make it a 2K payment. "Increase" or "2k" should apply to the same people.
elpablo21
Supporter
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Right. They campaigned on that. $600 was the "down payment"
Nothing concrete as of yet but I'm leaning towards the limits will remain as is when it's all said and done
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I don't consider anything well enough if you haven't overcome your debt burden and it's not enough to do so.
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That's a little too arbitrary for me. A 10K debt burden isn't the same as 150K.
Obviously none of it is one size fits all which is kind of my point.
If we're going to make sweeping generalizations, the opposite of what he said is much closer to the truth if the question is what does 75K get you in California.
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It did. It I think that’s more lingo than anything else. On paper, this is a new payment.
again, I don’t think they should change the stipulations from the last bill
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Yep and Theyll get you with penalty fees and interest too. A lot of folks will have gotten into new tax brackets as well, so their withholdings may be all out of wack.
Politicians are funny. Why is this $1400 being looked at as being the end all be all of stimulus checks? They could give us $250/month if they really wanted. So it's $1400 for the foreseeable future and that's it? And why is it lumped with other covid relief. Is that the only way to get the deal approved?
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It was supposed to be an automatic +$1400 when the time came to everyone who got $600 before, but then politics/the GOP got in the way and all of a sudden want to be fiscally responsible. If they had any shred of good in their hearts that 1400 wouldve been on the way by now.
I'm hoping Biden and the dems just straight ram the bill through no lube. Either through reconciliation or whatever other means.
I'm hoping Biden and the dems just straight ram the bill through no lube. Either through reconciliation or whatever other means.
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Thats what is happening right now. Problem is team Biden is so concerned with the optics of ramming this down the GOPs throat they wanna let them nix some things. Sounds like 15 dollar min wage alrdy off the table and now this debate about an income ceiling on the stimmy. Sickening.
