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The Water Cooler
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America's debt
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<blockquote data-quote="DA 20" data-source="post: 1569215" data-attributes="member: 7680"><p>Many will disagree with me, but one way to reduce the debt is force people to prove they paid some income tax to vote. Even if they only paid 5% they would get to vote. The elections determine how government is going to tax and spend and if you dont pay any tax you shouldnt have any say on how the tax money is spent.</p><p>Seems like a hundred years ago I was taught that your debt payment each month should not exceed 25% of your take home pay. I always tried to live by that method and still do today. When retired it can be much more difficult, but all you have to do is reduce spending.</p><p>As a retiree, after living by the above rules, we have a much more comfortable retirement than many of my friends that spent more than the 25% rule. Growing up during the depression I was taught that for everyday items that you might want, if you cant pay cash for it, you wait until you can.</p></blockquote><p></p>
[QUOTE="DA 20, post: 1569215, member: 7680"] Many will disagree with me, but one way to reduce the debt is force people to prove they paid some income tax to vote. Even if they only paid 5% they would get to vote. The elections determine how government is going to tax and spend and if you dont pay any tax you shouldnt have any say on how the tax money is spent. Seems like a hundred years ago I was taught that your debt payment each month should not exceed 25% of your take home pay. I always tried to live by that method and still do today. When retired it can be much more difficult, but all you have to do is reduce spending. As a retiree, after living by the above rules, we have a much more comfortable retirement than many of my friends that spent more than the 25% rule. Growing up during the depression I was taught that for everyday items that you might want, if you cant pay cash for it, you wait until you can. [/QUOTE]
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