OT: How much money does it take to have “17 you” money?

[Theconnormead]

Interested in perspectives

It all depends on your lifestyle. For some people, $1 million is FU money. For others, even $100 million wouldn't be enough to give them that kind of financial freedom.

 

[ScrotieMcBoogerBalls]

I think I remember John McCain in like the early 2000's said 7 million invested properly would get the job done.

 

[johnson86-1]

This is the saddest part. I still think that some kind of federal consumption tax would solve some ills; at a minimum, anyone buying anything in the country would be contributing to the pie. That won't solve the problem of who is slicing the pie, but angst over <insert name of people group here> freeloading would have less basis.

A statue that imposed a 2% VAT or consumption tax and froze spending at today's nominal levels would eliminate the deficit in a decade. That would require something like a 6% annual cut to non-medicare/social security spending to not cut medicare or social security. We really have managed to 17 ourselves with our refusal to be responsible on spending growth.

 

[Howiefeltersnstch]

Older I get the more it is. When I was 19 it didn't take much to say 17 you and walk

 

[horshack.sixpack]

A statue that imposed a 2% VAT or consumption tax and froze spending at today's nominal levels would eliminate the deficit in a decade. That would require something like a 6% annual cut to non-medicare/social security spending to not cut medicare or social security. We really have managed to 17 ourselves with our refusal to be responsible on spending growth.

I feel like you could have stopped here and filled in the blank on nearly anything we put politicians in charge of. If the founding fathers missed on one thing, it was the idea that politics would be a means to get rich and suck on public teat for life rather than a service position that people sacrificed for after having done something meaningful in life. People wonder why I don't like the Tate's of the world and it is less about any policy or opinion of his and more about his entire life being one where his entire life goal was politics...he just happens to be an example that I am in close proximity to more than anything

 

[HotMop]

Interested in perspectives

Depends on big a boy you are.

 

[mcdawg22]

I’m no banker, but I think they objectively wouldn’t

Math is hard.

 

[OopsICroomedmypants]

Before the digital reset 5 or 6 million because I’m pretty low maintenance. After the digital reset a pack of saltines and a can of spam along with 3 bottles of Angel’s Envy.

 

[champdawg.sixpack]

Math is hard.

So, you say a guy that makes 5 mil A YEAR can’t get a loan for same amount that a guy who makes 10 mil can?

 

[ZombieKissinger]

So, you say a guy that makes 5 mil A YEAR can’t get a loan for same amount that a guy who makes 10 mil can?

Yes

 

[ckDOG]

So, you say a guy that makes 5 mil A YEAR can’t get a loan for same amount that a guy who makes 10 mil can?

Of course he can. He just can't get one as large. Why are you hung up on this?

 

[horshack.sixpack]

So, you say a guy that makes 5 mil A YEAR can’t get a loan for same amount that a guy who makes 10 mil can?

Can the guy who makes $50k qualify for the same amount as the guy who makes $100k? How is this even an assertion?

 

[johnson86-1]

I feel like you could have stopped here and filled in the blank on nearly anything we put politicians in charge of. If the founding fathers missed on one thing, it was the idea that politics would be a means to get rich and suck on public teat for life rather than a service position that people sacrificed for after having done something meaningful in life. People wonder why I don't like the Tate's of the world and it is less about any policy or opinion of his and more about his entire life being one where his entire life goal was politics...he just happens to be an example that I am in close proximity to more than anything

There's really not anything else like out of control spending. There are mostly reasonable debates to be had about almost every policy issue they deal with. It's only the spending where we have easily understandable math that people have ignored for decades and where there is not a reasonable argument that spending isn't out of control. They could have been irresponsible and spent a **** ton of money and still not outgrown our ability to raise revenue. We collect 2.5 more tax revenue in inflationadjusted dollars now than we did in 1980. It's 66% more tax revenue per person today in inflation adjusted dollars, even after drastically limiting taxes on the lower half of the income distribution.