Posted by pat sublett on March 26, 2016 at 13:42:05 from (108.223.135.219):
In Reply to: Medicare question posted by rrlund on March 26, 2016 at 12:20:24:
There are a lot of pitfalls to retirement and a lot of efforts by the government to get what they can from you as well as a lot of inequality. I always paid maximum SS all my working life. I have a small company retirement. My 401K had a net loss of 8.5% last year. I cashed in some 401k and bought a new car. I paid 10% tax up front an 401k withdrawal. I had to cash in more 401K to pay my $10,000 tax bill even though I lost 8.5% for the year. I have a house and 10 not so valuable acres. My tax bill exceeded my total company retirement by $2,000 dollars. My attitude further deterated when one of my friends, whos entire family drives new or late model cars and lives in a new 2 story house, told me he had not paid any income tax in 20years further his son who works for him draws a 2500 dollar income equlazition return every year. It is past time for a simplified income tax reform. Understan, I am 80+ years old and havent earned a dollar in 15 years.
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