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January 16, 2012 at 2:15 PM in reply to: OT: Public employees: mistreated and misunderstood OR leeches to productivity ? #736014January 16, 2012 at 11:44 AM in reply to: OT: Public employees: mistreated and misunderstood OR leeches to productivity ? #736001
(former)FormerSanDiegan
Participant[quote=urbanrealtor][quote=FormerSanDiegan][quote=Nor-LA-SD-GUY2]Gee I think everyone seems to be missing the point, it really does not matter what is fair or not fair.
Unsustainable is Unsustainable.
[/quote]I agree 137% ![/quote]
Wait.
What?[/quote]Agreeing 137% is not sustainable either, is it?
January 16, 2012 at 10:15 AM in reply to: OT- CONTEST!!! Guess public sector household earnings #735981Participantnumber ? PLEEEASE
We’ve already passed the sharks and zombies stage and have moved into the “if you don’t like it you can move to a different country” stage.
If we’re not careful we will reach the Hitler precipice, where all threads go to die.
So, what was the number ???
January 16, 2012 at 9:21 AM in reply to: OT: Public employees: mistreated and misunderstood OR leeches to productivity ? #735977Participant[quote=Nor-LA-SD-GUY2]Gee I think everyone seems to be missing the point, it really does not matter what is fair or not fair.
Unsustainable is Unsustainable.
[/quote]I agree 137% !
January 16, 2012 at 9:18 AM in reply to: OT- CONTEST!!! Guess public sector household earnings #735976ParticipantCAN you PLEEEEASE post the number now ?
I really don;t wnat to read through any more diatribes on how realtors are also leeches and the same old tired discussion on real estate subsidies via the tax code , preferential treatment, etc that people were arguing about on this site 6 or 7 years ago.
Inquiring minds want to know. What was the income ?
January 13, 2012 at 3:19 PM in reply to: OT: Public employees: mistreated and misunderstood OR leeches to productivity ? #735827ParticipantThanks BG. But some people may not want to apply for a public job for all sorts of reasons, other than trying to prove their point on a blog.
Take me, for example. I worked for the federal government for about 5 years as a permanent civil servant employee. I left that cushy job for multiple reasons: 1) didn’t like dealing with the bureucracy (or becoming part of it); 2) wanted the challenge of being an entepreneur.
SO, been there, done that. Still not impressed with your information-to-word count ratio.
January 13, 2012 at 12:49 PM in reply to: OT- CONTEST!!! Guess public sector household earnings #735806Participant$325,724.68
January 13, 2012 at 11:44 AM in reply to: OT: Public employees: mistreated and misunderstood OR leeches to productivity ? #735802Participant[quote=CA renter]What productivity?
Name a single productive country (similar to ours WRT cultural/racial demographics, population, size, etc.) with a thriving economy and middle class that has no/few/underpaid public servants.
Just one.[/quote]
I don;t think there is a single country that is similar to ours WRT cultural/racial demographics, population and size, period. So, obviously there is not one with or without any public servants at all.
It’s a bit like asking someone to name just one 7-foot, 300+ pound basketball players named Shaq that can’t dunk.
ParticipantI haven’t read this entire thread (frankly, I can’t bear to read the longer posts, so I skim them and read responses).
But, what I want to knwo it, how the heck did we go from the question of whether the stock markket will crash in 2012 to a pissing contest about public employees.
Maybe we should creat a separate thread for that subject ?
ParticipantAs long as we are whining about unfair tax laws. What about that F*%kin AMT. Now that sucks. It’s not fair. Just because someone lives in a high tax state, has a huge mortgage deduction and 3.4 kids. Not fair.
Participant[quote=ctr70]I will have to look into that. So if you put money into a “non-deductible” IRA you can immediately convert it to a Roth? So you have to convert every year you make a contribution? What is the cost to convert it? I have a SEP IRA too as I run a small business.
I still think it is so bogus that they don’t take the income cap off the Roth. What a joke. $122k is peanuts in Cali.[/quote]
Yes, you would have to do it periodically (e.g. every year if you wanted to minimize tax impacts).
If you had zero funds in other IRAs, then the cost is whatever your brokerage charges for opening (usually $0) and closing (~ $25 to $75). Taxes are based on the gains between when you opened the IRA and converted it to a Roth (essentially zero).
HOWEVER (and this is what prevents me from taking advantage of this): If you already have substantial funds in existing IRAs it is less attractive, due to the fine print:
The tax on the conversion to a Roth (if any) is determined by what would be taxable when accounting for all of your IRAs. Don;t know if a SEP counts (probably does). Consult a tax advisor.Participant[quote=CA renter]
It’s a much more complex issue than you’d like to believe.[/quote]
Agreed, so it’s not just the wall street guys fault then, correct ?
Participant[quote=SD Realtor]No way man. It is all Wall Streets fault.
Governments never make faulty projections nor do they ever overspend. Furthermore they are responsible for making sure that everyone has everything they need regardless of citizenship status or individual effort.
You guys better get with the program man![/quote]
You’re right… my bad. I want my cake now.
Participant[quote=CA renter]
The pension shortfalls are 100% directly tied to the boom-bust cycles created by the Fed and Wall Street.
[/quote]
Not exactly … but the cycle did play a role
The pension shortfalls are caused by Governments that used unrealistic projections based on the boom to overpromise unsustainable levels of benefits to government employees.
ParticipantActually, there is a back door for “rich” people like you.
The Government removed the income limit for Roth IRA conversions. So, you can contribute to a non-deductible IRA, then convert to a Roth. If you have no other IRAs this can be identical to just piutting it in a Roth.
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