Govt planning principal reductions

[patientrenter]

Hatfield,

How much do you plan to spend annually when you are retired, including the cost of health care and medicine, housing and cars….. In other words, assuming you pay 100% out of your own pocket for the stuff and services you want? Let’s call that $X.

How many years after you retire are you prepared to throw in the towel and become indigent? Let’s call that Y years.

How much do you contribute to society annually now, measured by your average after-tax income, excluding investment income? Let’s call that $Z.

How much do you take from society now, measured by your annual spending, including the annual average of occasional big purchases like cars or surgeries or weddings or fees on home purchases etc…? Let’s call that $W.

Finally, how many more years are you going to work (at a full-time regular rate of pay)? Let’s call that V years.

In my calculations, you’ll need $ X times Y for your retirement, in today’s dollars.

In my calculations, you’re going to have $(Z-W) times V when you retire, in today’s dollars.

How does the math work out for you?

[wannabe2077]

lot of the people who screwed up on housing will screw up later in life. i understand the anger about bailing out these idiots. but these idiots will be out in the streets within a decade.

[wannabe2077]

lot of the people who screwed up on housing will screw up later in life. i understand the anger about bailing out these idiots. but these idiots will be out in the streets within a decade.

[wannabe2077]

lot of the people who screwed up on housing will screw up later in life. i understand the anger about bailing out these idiots. but these idiots will be out in the streets within a decade.

[wannabe2077]

lot of the people who screwed up on housing will screw up later in life. i understand the anger about bailing out these idiots. but these idiots will be out in the streets within a decade.

[wannabe2077]

lot of the people who screwed up on housing will screw up later in life. i understand the anger about bailing out these idiots. but these idiots will be out in the streets within a decade.

[SD Realtor]

Yes they will be. Good thing it is only our tax money that is being used to cover thier screw ups.

[SD Realtor]

Yes they will be. Good thing it is only our tax money that is being used to cover thier screw ups.

[SD Realtor]

Yes they will be. Good thing it is only our tax money that is being used to cover thier screw ups.

[SD Realtor]

Yes they will be. Good thing it is only our tax money that is being used to cover thier screw ups.

[SD Realtor]

Yes they will be. Good thing it is only our tax money that is being used to cover thier screw ups.

[ibjames]

[quote=23109VC]this is the BS that has ticked me off –

you are hardworking wage earner. you make good money but are not rich. all the morons who bought with toxic loans ran up prices of homes. your “good income” only allows you to buy an “average” home, while the dumba$$e$ bought mcmansions they never should have, but did b/c they were dumb and took out unsafe loans.

all the homes are now upside down. the idiots who don’t make enough to buy that 750k mansion now cry “unfair” and the gov’t is going to bail them out. they probably make less than 100k, probably far less – but yet they get a principal reduction, super low interest rates… you name it – let’s keep them in their mansion.

you the 100k+ earning hard worker, responsible guy – you try to get some assistance and they will tell you that you MAKE TOO MUCH and you don’t qualify.. just wait.

any of this bailout stuff will have strings attached so that most, if not all,of US here at piggington – who make decent money will be told we don’t qualify for relief…

so we keep working, keep paying taxes, and they take our tax money and essentially give it to the morons who bought houses they never should have.

this does nothing except piss people off and encourage people to find ways to scam or beat the system and be irresponsible.

what SHOULD happen is there should be NO bailout for anyone. if you crash and burn – good. you will be an example for everyone else to learn from – and people will pay their bills and not extend themselves. they will see that when you are irresponsible with your money – you suffer.

what we are teaching everyone is that you can do whatever you want – spend money you don’t have, buy things you can’t afford – and when the $hit hits the fan, you will get bailed out.

if you can’t beat them join them. [/quote]

add on.. you are a DINC family, you can’t buy a house, you get taxed even harder for having limited tax write offs

[ibjames]

[quote=23109VC]this is the BS that has ticked me off –

you are hardworking wage earner. you make good money but are not rich. all the morons who bought with toxic loans ran up prices of homes. your “good income” only allows you to buy an “average” home, while the dumba$$e$ bought mcmansions they never should have, but did b/c they were dumb and took out unsafe loans.

all the homes are now upside down. the idiots who don’t make enough to buy that 750k mansion now cry “unfair” and the gov’t is going to bail them out. they probably make less than 100k, probably far less – but yet they get a principal reduction, super low interest rates… you name it – let’s keep them in their mansion.

you the 100k+ earning hard worker, responsible guy – you try to get some assistance and they will tell you that you MAKE TOO MUCH and you don’t qualify.. just wait.

any of this bailout stuff will have strings attached so that most, if not all,of US here at piggington – who make decent money will be told we don’t qualify for relief…

so we keep working, keep paying taxes, and they take our tax money and essentially give it to the morons who bought houses they never should have.

this does nothing except piss people off and encourage people to find ways to scam or beat the system and be irresponsible.

what SHOULD happen is there should be NO bailout for anyone. if you crash and burn – good. you will be an example for everyone else to learn from – and people will pay their bills and not extend themselves. they will see that when you are irresponsible with your money – you suffer.

what we are teaching everyone is that you can do whatever you want – spend money you don’t have, buy things you can’t afford – and when the $hit hits the fan, you will get bailed out.

if you can’t beat them join them. [/quote]

add on.. you are a DINC family, you can’t buy a house, you get taxed even harder for having limited tax write offs

[ibjames]

[quote=23109VC]this is the BS that has ticked me off –

you are hardworking wage earner. you make good money but are not rich. all the morons who bought with toxic loans ran up prices of homes. your “good income” only allows you to buy an “average” home, while the dumba$$e$ bought mcmansions they never should have, but did b/c they were dumb and took out unsafe loans.

all the homes are now upside down. the idiots who don’t make enough to buy that 750k mansion now cry “unfair” and the gov’t is going to bail them out. they probably make less than 100k, probably far less – but yet they get a principal reduction, super low interest rates… you name it – let’s keep them in their mansion.

you the 100k+ earning hard worker, responsible guy – you try to get some assistance and they will tell you that you MAKE TOO MUCH and you don’t qualify.. just wait.

any of this bailout stuff will have strings attached so that most, if not all,of US here at piggington – who make decent money will be told we don’t qualify for relief…

so we keep working, keep paying taxes, and they take our tax money and essentially give it to the morons who bought houses they never should have.

this does nothing except piss people off and encourage people to find ways to scam or beat the system and be irresponsible.

what SHOULD happen is there should be NO bailout for anyone. if you crash and burn – good. you will be an example for everyone else to learn from – and people will pay their bills and not extend themselves. they will see that when you are irresponsible with your money – you suffer.

what we are teaching everyone is that you can do whatever you want – spend money you don’t have, buy things you can’t afford – and when the $hit hits the fan, you will get bailed out.

if you can’t beat them join them. [/quote]

add on.. you are a DINC family, you can’t buy a house, you get taxed even harder for having limited tax write offs

[ibjames]

[quote=23109VC]this is the BS that has ticked me off –

you are hardworking wage earner. you make good money but are not rich. all the morons who bought with toxic loans ran up prices of homes. your “good income” only allows you to buy an “average” home, while the dumba$$e$ bought mcmansions they never should have, but did b/c they were dumb and took out unsafe loans.

all the homes are now upside down. the idiots who don’t make enough to buy that 750k mansion now cry “unfair” and the gov’t is going to bail them out. they probably make less than 100k, probably far less – but yet they get a principal reduction, super low interest rates… you name it – let’s keep them in their mansion.

you the 100k+ earning hard worker, responsible guy – you try to get some assistance and they will tell you that you MAKE TOO MUCH and you don’t qualify.. just wait.

any of this bailout stuff will have strings attached so that most, if not all,of US here at piggington – who make decent money will be told we don’t qualify for relief…

so we keep working, keep paying taxes, and they take our tax money and essentially give it to the morons who bought houses they never should have.

this does nothing except piss people off and encourage people to find ways to scam or beat the system and be irresponsible.

what SHOULD happen is there should be NO bailout for anyone. if you crash and burn – good. you will be an example for everyone else to learn from – and people will pay their bills and not extend themselves. they will see that when you are irresponsible with your money – you suffer.

what we are teaching everyone is that you can do whatever you want – spend money you don’t have, buy things you can’t afford – and when the $hit hits the fan, you will get bailed out.

if you can’t beat them join them. [/quote]

add on.. you are a DINC family, you can’t buy a house, you get taxed even harder for having limited tax write offs

[Author]

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