The individual market before the ACA was shitty. Thanks, Obama.
I don’t know how much to begrudge the FIRE folks, honestly. Many of them work in tech with large salaries and maybe stock options, and wind up paying a lot of FIT and cap gains tax for the ~15 years they work. I know the system is designed to help low-income people and I’m glad it’s there for that, but I don’t get too bent out of shape at a small number of FIRE folks gaming the system.
That appears to be the largest single category. But, even at that “In 2018, one-quarter of state and local government employees—approximately 6.5 million workers—were not covered by Social Security on their current job.”
You had said “hobby jobs”, I imagined wood working (probably because that’s the kind of hobby job I would do).
Also from SS “Federal law allows certain state and local governments to exclude employees from Social Security coverage if those employees are provided with a sufficiently generous pension.”
Probably some is non-qualified. But you still don’t pay FICA tax on non-qualified distributions.
I was trying to say that the stuff they were contributing themselves was Roth to the max that they were able to do so.
So like say he made $200,000 a year. He was putting in the max 401k contribution, 100% Roth. His employer was also kicking money into retirement, which will be taxable as they withdraw it. And they were kicking in the max to his wife’s Roth IRA.
I’m sure they must have been contributing more into Profit Sharing & just general savings / investment accounts. I think they were living off a tiny fraction of his income, especially once the house was paid off.
I feel like we need this thread because one day, 2 years from now Twig is going to vote for DeSantis over Newsom because of the way that Newsom structured his CA EV Policy in an potentially less-than-optimal manner (depending on how things go in 15 years). Also that one time she drove all day long with a Thanksgiving turkey for some people that care neither about thanksgiving or food.
If seeing a doctor is your goal, then you don’t really need insurance.
What do you think of the group market? My employer insurance rates are quite expensive. I have to pay for my coworkers’ cancers, mental health, diabetes, asthma, chrons disease, high risk pregnancies, various million dollar biologics, and yet here I am, young, male, and fit as a fiddle.
Would you say it’s a failure? Should we charge employees according to their need? Should I have more take home compensation?