3 ms·
I agree, its a tradeoff wherever you go and takes careful planning. You can either have high overall income taxes, or you have high property taxes (and low ove
by than3 3y ago
I agree, its a tradeoff wherever you go and takes careful planning.
You can either have high overall income taxes, or you have high property taxes (and low overall cost of living).
Ironically, for those who won't retire before 2030, we'll probably never see social security benefits despite paying into it for most of our life (15% tax).
- nradov 3y agoYou will see some Social Security benefits. There will likely be some benefit cuts and perhaps a further increase in retirement age, but there is no political appetite to eliminate the program entirely. As long as you survive to retirement age you will receive something but it might be less than what you paid in.
- than3 3y agoWhile it is true there is no political appetite to eliminate it, that has little to do with whether you'll get a reasonable amount of benefit from it. Currently, mandatory spending which includes Medicare and Social Security go over a cliff where the interest exceeds projected GDP ~2032 (before factoring in inflation; it gets worse with inflation). There was a congressman trying to bring attention to the issue for newly elected politicians who did a C-SPAN presentation on it. Link: https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=ForbesBreakingNews https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=Forbe...