But more often than not, it's for Pampers for the baby and pencils/paper for the school-age kids...
Amen.
Syl
Working the System
by snowbird 21 Replies latest social current
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snowbird
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jay88
Perhaps the system encourages it because they know they will get their due by means of the death tax.
Getting them to sell assets while alive would be a headache and require plenty of overhead.
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snowbird
Interesting observations, all.
Syl
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AGuest
Could be, dear Jay (peace to you!)... could be. Because, eventually, the system IS going to get "its", one way or another, isn't it?
Peace!
SA, on her own... -
darthfader
In what way was the man a victim? He, according to the bureau that issues the benefits, is breaking no laws. He is now (his own words) looked upon as a outcast. He was lucky in the sense that he had the winning numbers to the lottery and is now 800K richer.
I think he did nothing wrong in that he contacted the bureau for clarification on his benefits. He has benefits coming to him under the law -- therefore he's entitled to them until the law changes.
The federal and state governments look at lottery winnings as income -- they tax the hell out of it... So why can the bureau look at it the same way? Maybe they never has that issue come up before. I know a lot of people who are asset wealthy, yet cash-flo poor. it's not an uncommon situation, but lottery winnings should be treated as income - across the board.
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BizzyBee
It's still peanuts compared to what the politicians and corporate thieves get by with:
Republicans voted yesterday to continue oil subsidies for the five largest oil companies while they complain that the government can ill-afford to keep paying out more than it takes in. The Republican solution to the budget deficit is cutting programs that primarily benefit the poor and working class Americans because they must protect the oil industry and the wealthy. Between 2005 to 2009, the largest oil companies have made a combined $485 billion in profits prompting John Hoffmeister, former CEO of Shell Oil to say that the “oil industry doesn’t need subsidies because of sustained high oil prices.” Republicans in Congress though, are stuck in a “big oil entitlement” rut that prevents them from looking out for the American people and the economic health of the nation.
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AGuest
Lottery winnings are NOT treated as income, dear Darth (peace to you!), except by the IRS. For all other government agencies, it is the interest from investments of the principal that is treated as "income." The corpus is considered an asset and only the income FROM assets is considered. Thus, if the man, say, put the $800k (or whatever) in a typical checking account (which usually don't pay interest), there is NO income to consider. Even if he takes some out and uses it (for whatever).
Even if he puts it in a regular savings account (which it what it sounds like he did), vs. a T-Bill or high-yielding CD, etc., there still is very little "income" as most regular savings accounts are paying less than 2% these days.
My "problem" is how can one be asset wealthy... and living on federal aid? Why should you and I pay for them to live, when those assets can be sold? I mean, YOU CAN'T TAKE IT WITH YOU. And those kids who feel they're "entitled" to such as an inheritance, well, yeah... AFTER mom and dad are properly cared for! That really is what it's FOR... first... not to set YOU up in life once they're gone, first.
But okay, let it be. But don't go pointing fingers at young people who are also "working" the system... in order to care for young children. At least they have a reasonable excuse.
Again, peace to you!
A slave of Christ,
SA
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snowbird
True dat, Bizzy.
Still chaps my hide, though.
Syl
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WontLeave
In the wake of billions in bailouts that ended up in already-rich people's pockets, this is just par for the course in the US. Social engineering programs like corporate bailouts, farm subsidies, welfare, HUD, WIC, AA, "war on drugs", etc. have precious little to do with helping people and are mainly about buying votes and demagoguing.
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snowbird
People have to change themselves, from within.
Otherwise, precious funds are just being wasted.
Syl