...until they grow up, are out of the house, and are no longer dependent on you...plus college tuition pretty much overwhelms the tax benefit of having kids (though kids are awesome... can’t wait for grandkids as I will be spoiling them rotten).Yea !
but 4 kids = the EV tax credit and you get it EACH year
Surprisingy to see from someone as money responsible as you. Hopefully there will be some of your spending lessens passed down to them.
With our second child my wife retired from the workforce to raise the kids. Luckily I was able to quintuple my salary over time to easily make up the difference. Though I lost the best job of my life (so far) last year because the company moved, so now i’m only at triple of that salary when she left the workforce. It’s amazing how much you don’t really need when faced with budget cuts. Check out the EveryDollar app - after using that, it was as if I got a raise. Instead of wondering where all the money went, it puts up guard rails to help you live within your means. But it only works if the person in the mirror works at it.
I plan to leave a legacy to my kids and grandkids, so they will have to know how to handle money - hopefully by example.Surprisingy to see from someone as money responsible as you. Hopefully there will be some of your spending lessens passed down to them.
I do have two of my own so I know what you mean
I'm guessing your a graduate of Obamanomics.
Actually I graduated somewhere else
Oh, thank God, I was worried there for a minute that I would have to work at it.
Actually, they create more wealth for the wealthy, at the expense of the less wealthy.
You made my point. Collectively the "bank" is anything that does not generate more GDP.
Yes, for the wealthy.
That's odd. Last time I checked the New Deal created gobs of wealth, and brought the country out of the (so far) only depression.
I don't agree. Most whopper floppers working below the poverty level are carrying better smartphones than mine. And many in the upper middle class are spending like Congress, faster than they are bringing it in. In one sense, the upper middle class on paper is poorer than the poor. Our poor don't have any money - our upper middle class are in the hole at least 6 figures. I'm not sure which is better.Actually I graduated somewhere else
If you aren't aware, 75% of our GDP is consumer spending. Not yacht purchases, not stock trading, not loans, not real estate, just plain spending by slugs like you and me. If you give a poor person a dollar they will spend it immediately on something they absolutely need (food, clothing, etc.) that they can't otherwise afford. If you give someone in the upper middle class that same dollar, it almost invariably winds up in a bank, because they have pretty much everything they already need. It doesn't take a lot of tax cut at the lower end of the spectrum to goose the economy. While tax cuts at the upper end simply create more wealth. And as I stated before, the economy is already hot (because of 8 years of that Community guy in charge). We are also at nearly full employment. One misstep and the economy may tank. Only this time we won't be able to cut interest rates, or raise taxes to help fix things. If you have a secure job and you can hold your 401K for at least 10 years, you may still come out ok.
I doubt many Tesla Model S or X owners were swayed by the tax credit.... sure they'll take it if it's there, but luxury car owners usually don't scoff at price. They're looking for quality, prestige, exclusivity. I'm sure many Model 3 owners are hoping their cars get built before the credit tapers and then disappears, and many of them are upper middle class people in heavy debt.
