How to squeeze every dollar out of the middle class!!!!!!!

[home made tunnel]

Just a rant here - Add to it as you see fit.

#1 - Overdraft fees. I personally haven't had one in many years - but that's the #1 way to steal money from those who have none. I heard something like over a billion dollars last year was collected by Bank of America, just in overdraft fees. That's literally collecting money from the poor haha.

#2 - Student Loans. You know these KIDS will be getting good jobs and income - so lets collect their interest to GOBS of money. I tell ya what, at 17 years old, I didn't know what taxes were in a paycheck - nor interest on loans. And I signed the dotted line for a good college, @ 25k per year, you're looking at 100k after 4 years. Now to pay off 100k in debt, you're looking around $160,000 total out-of-pocket expenses after interest and many many payments. Now, that's all before taxes - So if your taxes are roughly a third of your paycheck, you're looking at around $240k worth of salary. These poor kids are never getting out of debt. If you told these kids that 25k per year really meant 60,000 in salary... would they go to college? I WOULDN'T HAVE !! ! !!! Anyone wanna pay mine off? I'll give you all my boats haha.

#3 - Housing. Property taxes. Here in new-England it has gone sky-high. We're talking typically $8k-$10k per year for your standard home on a half-acre lot of land.

#4 - State taxes. You'll all have your own stories for these. Maybe not Florida, cuz they're pretty good about it. But Rhode Island, we pay property taxes on a value that the STATE says your vehicle is worth. So your 15 year old rusted out ****box may be worth $5,000 in the eyes of the state. So to keep it registered, you pay a premium property tax on it... EVERY YEAR.

Your turn . . .

[home made tunnel]

Yup.

[bullet20vee]

1. Don't write bad checks.
2. Don't over extend your credit, interest and late fees are how they make their money. They aren't helping you out of the "goodenss of their hearts".
3. Property taxes are part of owning a home. Think that through before buying a home. (Yes, it sucks ass. But we have to pay taxes so the socialist can live their way as well.)
4. Uber, taxi, bus, walking or biking are the only other options. (Again, these options suck, but we have to live, work and pay taxes because the millions on wealfare depend on us.)

Until AOC gets her way and we all get free stuff, we have to work and pay taxes or die and not.

[powerabout]

The demise of middle class wealth was the long term effect of getting off the gold standard to create debt and then inflation to make the debt go away.

Chatting to an expat Singaporean the other day , who has a job for one of the richest men in China, he said the Gov already knows that e commerce has removed all the good jobs in China. Nobody sure how they will contain that.

[NICE PAIR]

Misplaced a $33 bill from Home Depot, I pay off my credit card debt every month, period.
I had no Idea, my penalty for a $33 debt 14 days overdue was $27. I do not shop @ Home Depot any more. My fault-They lose.
If you use credit cards for convenience, Do Not miss a payoff month. I have never payed a penalty in 50+ years. They are waiting for you.

[CDave]

8-10K is insane for property tax. What is the cost of the house that gets a bill like that?

[rock]

I have a barn in the middle of nowhere and I pay $6000 with no services to speak of compared to in the city. Now my house in the city is an average 3 bedroom brick house and it is $6000. Cabin is about $200. I am retired and live off savings and social security which makes it interesting to say the least. If the money was used wisely I would have no problems with it but to see how they piss away the funds is aggravating. Just like the feds our local gov needs some guidance as it seems they have no clue.

Credit cards used a lot and no matter how much it hurts ya gotta pay it to 0 every month or you will lose your ass to interest.

Did not do student loan for college cuz I went to a junior college. It's a good thing cuz I majored in electronics (back in 1970) and definitely went a different route. Do wish I had paid a bit more attention. Learned how to build computers but can barely operate one.

Taxes are taxes and until government service becomes a job with time limits that don't pay crap we will pay taxes and then watch the money get abused.

Rock

[Ted Stryker]

Colleges need streamlined, to look more like trade schools. A student will spend a fortune and lots of time completing courses that serve no purpose other than it being an educational tourist trap.

[CDave]

Do wish I had paid a bit more attention. Learned how to build computers but can barely operate one.

Rock

Building a computer isn't hard I've built dozens of them over the years. I don't do it anymore because everything is fast enough now to where building your own isn't worth it, to me.
Where the money is is in coding/software or I.T. but it's a flooded market as far as workers go.
Shortly after I graduated trade school in industrial mechanics I looked into going to night school for an E.T. degree but I could see it was getting to be a crowded field. So I kept turning wrenches which was/is in demand for workers who are good and willing to work in the field.
Field mechanic was a good fit for me because I hated working in a shop. Working on location was more fun and challenging.

[powerabout]

I started with 4 year apprenticeship at a large Marina, enjoyed every minute of it, large workshop so learnt lots, was on the water 2-3 times a day.

Getting back to middle class dying, its something Trump talked about 30 years ago in TV interviews as he could see it coming as he understood what causes it.

[rock]

I have a nephew that was head hunted by Google. Starting income 6 digits. He went to an Ivy League school and paid for it himself as an assistant professor and a tutor. He is one of those guys that just "get's it". I started learning coding but could not think of anything more boring so I quit school and went to work. Hat's off to those that can do it. Takes a smart feller.

Rock

[flabum1017]

well, someone has to say it, so I will..... not everyone is college material. Too many kids going into colleg who have no chance of coming out with a real education and even less chance of a well paying job to pay off those student loans. The libs see this and this is why they are pushing free college. Then there are all these kids that are talented in their own minds (and the minds of their pushy parents) who actually suck at what they think they are great at (think of all those wannabe rappers and ball players... etc...). My parents didn't raise me to think I was special or great at anything, in fact, my dad always put me down which made me do everything I could to proove him wrong. All this liberal child raising has created a big mess. Too much coddling.

[home made tunnel]

8-10K is insane for property tax. What is the cost of the house that gets a bill like that?

About $300k gets a property tax bill like that. Some ritzy, and some suburb towns are higher.

[home made tunnel]

well, someone has to say it, so I will..... not everyone is college material. Too many kids going into colleg who have no chance of coming out with a real education and even less chance of a well paying job to pay off those student loans. The libs see this and this is why they are pushing free college. Then there are all these kids that are talented in their own minds (and the minds of their pushy parents) who actually suck at what they think they are great at (think of all those wannabe rappers and ball players... etc...). My parents didn't raise me to think I was special or great at anything, in fact, my dad always put me down which made me do everything I could to proove him wrong. All this liberal child raising has created a big mess. Too much coddling.

I agree with everything you just said. Way too much coddling. I tell my wife that everyday about how she raises our daughter. Daughter makes a peep - momma jumps up. I give it a few lol.

[flabum1017]

about 15 years ago, a friend asked what I thought about him getting his daughter a cell phone for Christmas. I asked him how her grades were, he responded they were not too good and she was struggling. I told him a cell phone was a horrible idea, especially for a 9 year old and a doubly especially for a 9 year old with poor grades. He ignored me.... fast forward.... at 19, no education, she had a kid..... guess who is raising that kid now and guess who is still hanging with her drug addict friends? You gotta nip it in the butt, teach them early that they have to work for what they want.