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The Iron String Project
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The Iron String Project
@IronStringProj
The Iron String Project - Sharing old wisdom for the new mind to promote independent and original thought.
Katılım Eylül 2020
1.3K Takip Edilen185 Takipçiler

@ScanticAntiques @ericmmatheny I agree with the notion but I think the 10% needs changed… top 10% is household adjusted gross income of 180K. To me with current cost of living that’s starting to feel like middle class. That can be a decent blue collar job and a school teacher with kids making that.
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@TinaKotek Adapt to what… not being able to make a pond on their property? Wasn’t it Oregon that penalized a farmer for making a livestock pond?
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@SenWarren National sales tax on all non-food and non-utility retail purchases and services. No taxes need to be prepared, rich pay more than less wealthy due to the propensity to spend money - no tax loopholes. Used goods are exempt, so less wealthy can thrift and pay no tax.
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Wouldn't it be nice if you could say goodbye to TurboTax and file your taxes for free, online, and directly with the IRS?
I have a bill to get that done.
ABC News@ABC
It's Tax Day! The last day to file your taxes is April 15. What happens if you miss the tax deadline and what is the penalty? Learn more at the link in bio. Read more: abcnews.link/zc4G0u7
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@FinancialPhys True for some professions, but not all. Engineering, doctors, teachers, require a college degree to certify. We do in fact have a demand for those professions and need them as a society. We don’t want engineers that self taught thru you tube designing bridges.
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@MakeTrying27534 @WallStreetApes @grok Because I watched a part time waitress and a minimum wage mill worker provide me and my siblings with all the basic necessities in a good home, with decent cars, cable tv, even extras. Same situation today wouldn’t be possible.
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@IronStringProj @WallStreetApes @grok Same reason younger generations think it's harder for them, I reckon. And how do you know my generation?
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American says both his grandparents were school teachers. One of them stopped working to raised their kids, so their income was only about $20,000 per year
On $20,000 in a year, he was able to buy a house, support a family of four, buy 2 cars, send my father to private school. He was even able to retire 10 years early
He says this kind of life is now impossible and that’s why young people feel “hopeless”
“But in 2026, our government, our society is geared solely towards maintaining the wealth and comfort of the boomer generation. Every year without fail, proposals that help young people, proposals that help poor people, first time home buyers, yada, yada, yada fail in Congress. — But every year, hundreds of billions of dollars in Social Security increases sail through the chambers of Congress without a second thought. There is really no support system for the younger generation at this point.”
“Most people are trying to come to grips with the fact that they are never going to be able to retire at all, let alone retire 10 years early. It's just not the same world that it was, not even close.”
- Roughly 80% of Boomers were able to buy homes
- High estimates of Gen Z say only around 20-27% will be able to buy a home (this seems very generous)
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@MakeTrying27534 @WallStreetApes @grok They do as well. Many of them are living at home working multiple jobs and saving. Skipping college altogether to avoid debt etc. difference is average house hold income is 85k and minimum income to mortgage the average single family residence is 111k… you don’t see the problem?
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@IronStringProj @WallStreetApes @grok They can work more than 1 job, as I did. While I raised 2 sons as a single parent. I bought a modest house (1240 SF). We ate at home. Found inexpensive and free things to do for entertainment. I sacrificed. I worked, no one gave me anything for free.
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@MakeTrying27534 @WallStreetApes @grok I guess the point is why do people in your generation always feel like it was harder for you, like these younger gens don’t do those things. I mean there are Gen Z sleeping in their cars while working full time. You act like the work ethic and frugal mindset disappeared it didn’t
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@IronStringProj @WallStreetApes @grok I worked 3 jobs, raised 2 sons without public assistance. I bought a house. I cooked our meals, we rarely ate dinner out. We had 1 phone in the house. I baked and made our treats. Do you seriously believe it was easier for me? It was not.
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@MakeTrying27534 @WallStreetApes @grok You do realize millennials are in their 30s and 40s right? I can waste money if I want to, as I have disposable income. The point is these younger gens face a situation where total $ need exceeds total income. They could waste $0 and still not have enough - get it?
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@MakeTrying27534 @WallStreetApes In the 1970s, basic monthly costs for a single person (rent, food, utilities, transport) averaged ~$330.
Federal min wage averaged ~$2.30/hr across 1970-1980 (started at $1.60, rose to $3.10).
Full-time (40 hrs/wk): ~$398 gross/month.
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@MakeTrying27534 @WallStreetApes The average minimum wage is $9.3 nationally. That yields $1,612 per month pre tax. This means your average untrained and unskilled high school graduate would need more than two full time jobs (after tax) to meet the basic necessities for a single person. But skip the drink…
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@Mangan150 @MatrixMysteries It’s not the interest, it’s the interest on the interest.
Forced consolidation, ill defined recapitalization of accrued interest trigger events, and ever changing terms and plans is the problem.
It’s not as simple as you knew what you signed up for.
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@MatrixMysteries She and you don't seem to understand how interest works.
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@GovTinaKotek Can you remind me where you stand on rainwater?
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@BeaverFootball @CoachShephard Real important to remind recruits watching this is that OSU was a top 25 just a few years ago. The program just had a setback, get here and be part of the rebirth.
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@FalconryFinance The same boomers - why don’t those kids put the tablets down and go outside ?
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@TrishSumner1 @L77884Stephanie @WallStreetApes The average annual income for a family is currently 85k, the minimum annual income to qualify for a loan for the average single family starter home is 110k - see the issue? Having used furniture and no cell phone isn’t going to fill a 25k gap annually.
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@TrishSumner1 @L77884Stephanie @WallStreetApes The point is Trish, that no amount of petty saving like that accounts for the lack of purchasing power of the dollar and the 5x+ income to home price ratio. Boomers enjoyed home prices 2-3x the annual income. Now it’s 5x the annual income.
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@AmericaPapaBear Why don’t kids play outside anymore like when we were kids?
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