Interesting

[Timothy]

Agree on all counts.

I was just looking for a number so I could bitch and moan and whine and complain about it.   Those seem to be my new hobbies.

If I had a finance calculator I could run the numbers from my annual SS report but I think I'd probably faint at what the total would be!

I've stressed upon my daughter that she needs to max out her 401K for the rest of her life unless the Feds decide they want to steal that too!  Then she can stuff money in her mattress if she has to.  She's well aware that in forty years, when she's nearing retirement age, she and her man will be on their own!

[MikeBjerum]

That's an oops on my part  

Feds pay 3% on the investment (I typed no interest).  Financial planners were using 7.5% in projecting retirement returns while selling during the 70's.  I haven't researched what the feds are paying China these days, but I know that in the 70's and 80's they were paying far more than this on bonds.

[Solus]

If I had a finance calculator I could run the numbers from my annual SS report but I think I'd probably faint at what the total would be!

I've stressed upon my daughter that she needs to max out her 401K for the rest of her life unless the Feds decide they want to steal that too!  Then she can stuff money in her mattress if she has to.  She's well aware that in forty years, when she's nearing retirement age, she and her man will be on their own!

Be sure to point her at a Roth IRA if she can swing that.

Deposits are not tax deductible, but ALL earnings and withdrawals are.....under current law at least.

[Solus]

That's an oops on my part  

Feds pay 5% on the investment (I typed no interest).  Financial planners were using 7.5% in projecting retirement returns while selling during the 70's.  I haven't researched what the feds are paying China these days, but I know that in the 70's and 80's they were paying far more than this on bonds.

You know that is another very good item to put on my "Whine List".

The country is paying China interest on the money China gave them, but paid  me no interest on the money I put into SS...and they stole the principal too.  

[Timothy]

Be sure to point her at a Roth IRA if she can swing that.

Deposits are not tax deductible, but ALL earnings and withdrawals are.....under current law at least.

I have and will continue to keep her current on what's available.  Her mother and I have nothing put aside for reasons I won't get into here and she sees the result of poor planning/health related issues etc...

[Sponsor]

[JC5123]

You mean states like Wyoming? Sorry JC, you get $1.11 back for every dollar you pay. Here's a ranking amomg the states.
FQ13 who will note that Florida is subsidizing you at $.03 on the dollar. GET A JOB WYOMING!

PS TW, New York only got back $.79 on every dollar paid out.

http://www.taxfoundation.org/files/fedspend_per_taxesbystate-20071009.swf

First of all you are neglecting that we get federal money to maintain 3 Interstate highways. Including 2 of the longest, and most traveled in the US. I-80 and I-90. Secondly we are one the top wind power producers in the nation. We have 1 Army base, (Camp Gurnsey) and one of the premier Air Force Bases in the nation. (F.E. Warren AFB). We also have more nukes stashed in the ground than we that live here even know about. This is why we get so much federal money. However, I would be curious to see if your study took into account population density when they figured those numbers. Beings how Washington D.C. has more people living there than in all of Wyoming. http://exploredia.com/population-of-us-states-2011/

You must also think about the fact that we have a 1.2 billion surplus in our state budget for this fiscal year and have maintained similar surpluses in past years. Consistently. We pay no state income tax, our education hasn't needed to be funded by a lottery, and our property taxes are some of the lowest in the nation. (The exception being Jackson Hole) Most of our taxes are paid by the Oil, gas and coal industries. But it has been the careful management of these royalties that has enabled us to maintain a healthy budget.

[tombogan03884]

JC, one error I will point out, Camp Guernsey does not belong to "the Army". It is a National guard facility, as such, at least part, if not all, of the cost is passed on to the State. When we went there for annual training NHARNG had to pay for it, our trips to Fort Drum, which is Regular Army, however were free.

[JC5123]

Good point, I overlooked the funding difference.