Millennials like socialism - until they get jobs

[mtangelsfan]

To mt everybody is the status quo

 

 

except for the Larry Thompson dude or whatever his name is

 

Go team!

[ABC]

The first part of your post is the whole other issue.

 

The very first order of business for Sanders if he were to get elected would be to get money out of politics, special interest groups would not have anywhere near as much influence.

 

I want it out but how would he get money out of politics?

[Guest]

I'm a millennial making $16,000 a year in college and I don't like socialism. Partly because I barely make enough to pay my own bills and every year the government redistributes $1,500 of my poverty level income to seniors on social security and Medicare.

If that's how 2 socialistic programs impact the poor I can't imagine making everything else "free".

Blame the GOP on that one. They have flat out refused to budge on raising taxes for big corporations and have burdened throw working class.

Edit: I have no problem with SS or Medicare, but it's unjust for someone making $16K to pay all that in taxes.

Edited March 25, 2016 by failos

[mtangelsfan]

Blame the GOP on that one. They have flat out refused to budge on raising taxes for big corporations and have burdened throw working class.

Edit: I have no problem with SS or Medicare, but it's unjust for someone making $16K to pay all that in taxes.

 

So if the idea of SS is for a safety net for each contributor how is it fair that someone who puts in little to nothing gets the same as a middle class person would.  Or, if not that, there would be little to no safety net for him since he put so little in.

[Spirit]

It's been said a million times, but not resonating.

 

What he calls a "political revolution." You're seeing people who have never been involved in politics get involved, he can't do it himself.

 

Bernie Sanders is literally a political movement, not just a presidential campaign.

 

 

 

[Guest]

So if the idea of SS is for a safety net for each contributor how is it fair that someone who puts in little to nothing gets the same as a middle class person would.  Or, if not that, there would be little to no safety net for him since he put so little in.

I think someone who makes $16k a year is more interested in getting by rather than contributing to a "safety net."

You say it's unfair, but plenty of things in life are unfair.

Either way, SS needs to be overhauled.

[Blarg]

My God, Vladdylonglegs you are paying less than 10%. You need to work on your capitalism before complaining about Socialism.

[mp170.6]

The fact you can't "opt out" of Social Security tells you everything you need to know about it...

[halobob]

$16,000/year? Dude you're rich!

-AJ

I enjoyed this post way too much.

[Stradling]

Blame the GOP on that one. They have flat out refused to budge on raising taxes for big corporations and have burdened throw working class.

Edit: I have no problem with SS or Medicare, but it's unjust for someone making $16K to pay all that in taxes.

Why is it unjust for someone making $16k paying $1500 in taxes? That's less than 10%. If you think that's unjust wait until he graduates and gets into a career.

[Stradling]

It's unjust because someone way below the poverty level is having $1,500 redistributed to other people, 100% of whom make more than me.

It's not necessarily being retributed but rather paying for streets and such. Do you live with your parents? My son makes about the same I let him claim himself and he gets most of what he pays in back?

[Stradling]

Well the social security is yours later. It's going to get a lot worse, but I'm sure you know that.

[Tank]

So let's do some math.

Our GDP in 2015 was 16.46 trillion. 17.1% of our GDP was healthcare, which = 2.79 trillion per year, or 27.9 trillion over a decade. Bernie claims he can save 6 trillion over the next decade through various means, which would equal 21.9. Eliminating the private health insurance industry would save 8.84 billion over the next decade, reducing the cost to 13.06 trillion over 10 years.

 

Bernie's revenue from those taxes would be 1.388 trillion per year, which would equal 13.88 trillion over the next 10 years.

 

Did I miss something?

 

as mark twain once said, there are lies, damn lies, and statistics.

[Guest]

Why is it unjust for someone making $16k paying $1500 in taxes? That's less than 10%. If you think that's unjust wait until he graduates and gets into a career.

And what about income tax, sales tax, property tax, healthcare, etc. Do people not pay those anymore?

[Stradling]

And what about income tax, sales tax, property tax, healthcare, etc. Do people not pay those anymore?

Of course, we ALL pay those. I just struggle sympathizing with someone who has issues losing 10% of his income to Medicare and SS, when he gets the rest back.

[Stradling]

Like failos mentioned, I pay $1,500 on SS/Medicare tax ALONE. That doesn't include state/federal income tax, state/federal gas tax, sales tax, capital gains tax.

We all hate taxes but if you get all your fed and all your state money back you're not really paying those taxes.

[Catwhoshatinthehat]

Like failos mentioned, I pay $1,500 on SS/Medicare tax ALONE. That doesn't include state/federal income tax, state/federal gas tax, sales tax, capital gains tax.

 

Welcome to the working world, trust me it only gets worse once you get that first full time post college job.  Absent any credits (hope, lifetime learning, whatever you may qualify for) and if your parents claim you making 16K you'll pay a federal income tax rate of 8.3% in 2016.  If you claim yourself you'll pay a federal income tax rate of 1.27%.  Conversely if you were making 35K a year and claiming yourself you'd be paying a federal income tax rate of 13.6% and of course the more you make the more you pay the state in income taxes.  As a single individual with no kids making decent money you really get hammered on the tax front.  SS and Medicare need to have changes made but they will be around in one form or another because no politician is going to make serious changes and piss off older voters which is a death sentence.  I've been paying into SS and Medicare for 18 years now and don't count on anything from either when looking at retirement calculations.  If I were able to invest my portion of SS over my working life until I reached the age of 62 I could have give or take 1M depending on returns by investing in an S&P500 index fund.  It sucks but it is what it is and it's just one more reason I don't vote for tax hikes of any kind or support politicians who promise "free" handouts because they've shown they can't be responsible with what we as taxpayers already pay.  Funds set aside for specific projects gets raided, money doesn't end up where it's supposed to and the list goes on.   

[HaloMagic]

Is it really people's official standpoint that it's a worse situation to pay 40% of $250k than it is to pay 10% of $16k?

Because if it is I'm sure you could drop your higher paying job and go part-time somewhere. Just if that's better for you.

[ABC]

By that logic people shouldn't care if 250K is taxed at 90% since it is still more than 10% of 16K.

[wopphil]

I make pretty decent money and while I hate taxes like everyone else, I don't feel totally screwed over once I get my refund. California, in particular, isn't as horrible as people make it out to be.

That being said, I get a huge benefit from the mortgage write off, which IMO is a totally unfair tax law (albeit one I benefit from) that screws over people who rent.

It also pisses me off beyond belief how much I pay in SS and how little I will get back from it in 30+ years. It's a prime example of government mismanagement and why I will never support enhancing the size of government.

[Stradling]

Is it really people's official standpoint that it's a worse situation to pay 40% of $250k than it is to pay 10% of $16k?

Because if it is I'm sure you could drop your higher paying job and go part-time somewhere. Just if that's better for you.

Has anyone said that?

[InsideThePark]

What's funny is that Bernie supporters still think he has a chance. Their hopes are down of course but they are praying for a miracle. This revolution aint happening. It's crazy talk. The sooner you come to accept it, the better off you'll be.

[HaloMagic]

It's not like he's so far behind that it's unfathomable. He's only 280 votes behind in pledged delegates with over 2000 still on the table. It's not likely with her lead in superdelegates but they could switch. It's not like there is no precedent for this.

[InsideThePark]

They're not switching for Bern.

[Jay]

The wealthy elites in the Democrat party may be liberals but they do not want to be taxed at 90%.