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Personal Finance and Investing

PoindexterOglethorpe

(28,002 posts)

15. Right now I pay zero state income tax,

Reply to sprinkleeninow (Original post)

Sat Apr 20, 2024, 10:55 PM

Apr 2024

and a very small amount (around $400.00) federal.

At least part of why I pay so little is that my financial consultant rearranged my money and investments to get them into tax free or tax deferred accounts.

People here constantly trash financial advisors, and I do not understand why.

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Please indulge me in a short rant re: federal taxation of SS benefits. [View all] sprinkleeninow Apr 2024 OP

It is aggravating. I pay tax on 85% of my SS. Retired, not wealthy but because walkingman Apr 2024 #1

Yes, we pay on 85% too Unwind Your Mind Apr 2024 #4

If it was equitable across the board, but it ain't. Getting worser. nt sprinkleeninow Apr 2024 #10

Yeah, Just pay their fair share - and how about fixing SS for the rest of us. walkingman Apr 2024 #12

I'm curious how "I'm done" will manifest. snot Apr 2024 #2

So we get double taxed and the rich pay none. usonian Apr 2024 #3

You do have your piano and music for soothing. 💙 ☮ nt sprinkleeninow Apr 2024 #11

If the Democratic Party wins the presidency, and both houses, what do you Wonder Why Apr 2024 #5

At this point in time, I'm not sure of much of anything. sprinkleeninow Apr 2024 #9

Zero - although it will be touted as fantastic. The Bernie and Warren's of the Senate walkingman Apr 2024 #13

Who do we have to thank for taxing our SS benefits? Would it be republican St Reagan? keithbvadu2 Apr 2024 #6

Yes Gruenemann Apr 2024 #7

But then dint Al Gore get mocked/scorned for suggesting the funds be placed in a lock box? sprinkleeninow Apr 2024 #8

I don't know what Al Gore was getting at, but in his day, before, and today, SS is invested in the safest investment progree Apr 2024 #14

Right now I pay zero state income tax, PoindexterOglethorpe Apr 2024 #15