Interest Rate and Credit Score

[Mackenzie Click-Mickelson]

I agree with your first two points but not the last. I do believe that in recent history we did have a commander and chief who wanted more peace.

As far as a flat tax goes, why wouldn't all income including interest and dividend income be included in the flat rate? Isn't that point of a flat tax, to make all income taxable at the same rate effectively simplifying the whole process? Remember the idea of being able to file your tax return on a postcard? Eliminating the need for all those schedules? I think it would be great if our government would adopt this plan but I'm sure it will never happen because the upper class would have to pay too much.

Our governor just veteod a flat tax (although it could get over-ridden).

Estimates that 38% of the tax relief would go to the top 2% of earners.

Presently our tax rate in our state is just 3 levels



The flat tax proposed was 5.15% (which was the percentage agreed upon in the final bill but the original amount was slightly higher before in earlier talks) with the following income: "$6,150 for an individual or $12,300 for a married couple."

Estimated "savings" more than $250 per month in savings to those who earn more than $250,000 per year. Individuals who earn between $25,000 and $75,000 would get receive $5 to $8 per month in tax relief.

This is why flat tax continues to be unpopular.

 

[Ms.Minnie]

I think a flat tax would be better than our current system depending on how it was structured. There have been ideas floated that income under $20,000 wouldn't be taxed and the rate would be 10%. If that were the case, the person earning $50,000 would only pay on $30,000 at 10% which equals $3,000 per year. That doesn't seem like an unreasonable amount to me, everybody should have some skin in the game so to speak.

There have also been ideas floated of having different rates based on different income levels. This isn't maybe as fair since it's not truly a "flat" tax, but it would generate more revenue for the government to run on. It is also true that our government needs to pull in the reins on spending. They need to treat the expenses and proposed spending bills the same way a responsible individual or company would. Currently it seems that they think they have a bottomless pit of money to drawn on and we all know that isn't the case at all.

 

[Pea-n-Me]

There isn't much left to cut. Better cut defense spending. It's a gigantic piece of the budget.

https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/guide-to-the-markets/

It's slide 22.

And we do need to spend more on infrastructure. It's at the point, where older infrastructure is failing.

We’re on the cusp of a nuclear war.

 

[Ms.Minnie]

We’re on the cusp of a nuclear war.

I sure hope and pray that it doesn't come to that.

 

[RamblingMad]

We’re on the cusp of a nuclear war.

That’s absurd.

 

[DCLMP]

We’re on the cusp of a nuclear war.

Yes, we are and we are the aggressors.

 

[Snowflakey]

All I know is I'm now debt free and have a credit score of 882 so I hope I get some benefits out of it!! Took me a long time of paying my bills on time to get here!!!

 

[DCLMP]

All I know is I'm now debt free and have a credit score of 882 so I hope I get some benefits out of it!! Took me a long time of paying my bills on time to get here!!!

Fico scores top out at 850.

 

[china mom]

Where do I sign up for a flat tax rate? Calculating this years taxes after deductions, DH and I paid 14% of our total income in federal taxes. This is not our tax bracket, this is actual taxes after deductions.

One reason why we won't see a flat tax is that our government uses tax deductions to encourage favorable behavior. For example, charitable giving would no longer be a tax deduction (because there are no more deductions) Homeownership would no longer have a tax advantage (the mortgage deduction). Adopting a special needs child is another one. There are countless more deductions that are given to encourage citizens to what the government wants.

 

[_19disnA]

Actually I think social media has generally made issues worse since it tends to be overrun with people posting nonsense or conspiracy theories that have no basis in fact. A lot of the people with beliefs on the outer fringes grab the microphone and try to make it sound like they are speaking for a 'lot' of other people. The ones who yell the longest or loudest aren't any more likely to be posting factual information. I am sure you can search around on social media and find others who says things you agree with...............but that doesn't make them any more likely to be true.

 

[china mom]

Fico scores top out at 850.

There is another credit rating (I don't know what it is called) that uses a scale that goes to 950. I know this because I was given my credit score from a car dealer and it was close to the 950 and I questioned it. Maybe that is what they are referring to.

 

[DCLMP]

Actually I think social media has generally made issues worse since it tends to be overrun with people posting nonsense or conspiracy theories that have no basis in fact. A lot of the people with beliefs on the outer fringes grab the microphone and try to make it sound like they are speaking for a 'lot' of other people. The ones who yell the longest or loudest aren't any more likely to be posting factual information. I am sure you can search around on social media and find others who says things you agree with...............but that doesn't make them any more likely to be true.

Aren't you on a social media site now?

 

[Pea-n-Me]

That’s absurd.

It’s shocking to think that anyone thinks that’s absurd.

https://press.un.org/en/2023/sc15250.doc.htm

 

[RamblingMad]

It’s shocking to think that anyone thinks that’s absurd.

https://press.un.org/en/2023/sc15250.doc.htm

Nonsense. I lived through the Cold War. Lots of fearmongering nonsense.

 

[DCLMP]

I find it Ironic that people bash social media on social media.

Following the First Republic drama on Twitter. Are we going to lose another one?

War, rumors of wars, banking crisis, inflation....I need to a trip to WDW. Actually, I'm going to be on a ship for 12 days starting next week and I'm wondering why I bought the internet package. It might be good to unplug for a while.

 

[RamblingMad]

I find it Ironic that people bash social media on social media.

Following the First Republic drama on Twitter. Are we going to lose another one?

War, rumors of wars, banking crisis, inflation....I need to a trip to WDW. Actually, I'm going to be on a ship for 12 days starting next week and I'm wondering why I bought the internet package. It might be good to unplug for a while.

FRC is likely to fail. Inflation should keep going down. And war is nonsense.

Enjoy your vacation. No idea why you need Internet on a cruise.

 

[DCLMP]

Nonsense. I lived through the Cold War. Lots of fearmongering nonsense.

We're already in a proxy war with Russia. China is not our friend. I don't think anyone wants nuclear war, but I don't see anyone pushing for peace either.

 

[DCLMP]

FRC is likely to fail. Inflation should keep going down. And war is nonsense.

Enjoy your vacation. No idea why you need Internet on a cruise.

We've been at war for decades why is that nonsense? I'm going to Isreal I need the internet to stay in touch with family and tour operators and such things.

 

[RamblingMad]

We're already in a proxy war with Russia. China is not our friend. I don't think anyone wants nuclear war, but I don't see anyone pushing for peace either.

China is our friend. All of the kids love TikTok. Russia will eventually give up on Ukraine. And nuclear will never happen. Nothing to worry about.

 

[DCLMP]

China is our friend. All of the kids love TikTok. Russia will eventually give up on Ukraine. And nuclear will never happen. Nothing to worry about.

Kids loving tick tok makes China our friend. LOL Ukraine has been destroyed.