Posts Tagged ‘Social Security’

Real World Graduation, Question 52: Your Rights

RealWorldGraduation_Question_52_Your_Rights   <– PDF

A certain man was a successful politician for many years. He gradually rose through the ranks from a city council member to state Representative to state Senator to federal Congressman to federal Senator.  In all those years, he was a consistent advocate for gun control, including various proposals to ban all guns and ammunition held by private persons.  He himself always lived in places with strict gun control, but he also was always in violation of the existing gun laws: he owned many guns that were banned, he failed to register guns he owned, and he bought and sold guns without the legal reporting requirements.  He was called upon to serve as an under-Secretary of a cabinet-level department by the new presidential administration.  As part of the vetting process, he was asked if he had ever violated any gun laws.  He lied about his guns, and the administration believed him, since he had a “perfect” voting record promoting and enacting gun control.  But once he was confirmed by the Senate, it came to light that he had in fact owned many guns, some of them illegally, and had committed numerous violations of the existing gun laws (some of which he had helped to pass at the state and federal level).  What will happen next?

a) He will be fired by the President.

b) He will resign in disgrace.

c) He will be investigated by the federal authorities.

d) He will be indicted by state and local authorities.

e) Either a) or b), followed by either c) or d).

(The answer is on p. 2 of the PDF.)

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Posted in Bill of Rights, critical thinking, government powers, gun control, habeas corpus, progressive, Real World Graduation, Second Amendment, U. S. Constitution | No Comments »

Real World Graduation: Question 36

RealWorldGraduation_Question_36   <– PDF

The 401(k) system was set up such that people could save and invest their money prior to paying taxes, let the money grow over time, then pay the taxes later when they started withdrawing it as early as age 59.5. However, early withdrawals are permitted for certain hardships with no penalty.  Hardships are defined as large medical bills (as long as they do not exceed what can be deducted on your income tax), disability, and the splitting of a 401(k) account due to a divorce.  Otherwise, early withdrawals are penalized at 10% of the withdrawal amount, and all income taxes on the amount withdrawn are due immediately.  Aside from hardship cases, under what circumstances should the average person consider an early withdrawal from their 401(k), even though they have to pay taxes and penalties?

a) To buy a house, or make a down payment on one

b) To buy a car

c) To use the money to invest in the stock market (buying individual securities)

d) To pay for a honeymoon or other vacation

e) Both a) and c) are valid causes

(The answer is on p. 2 of the PDF)

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Posted in critical thinking, Economics, Real World Graduation | No Comments »

The Financial Status of Social Security, part 4

FinancialStatusOfSocialSecurity_Part4   <– PDF version

Dear readers:

This post, the fourth in a  series on Social Security, is available only in PDF form owing to the graphics.

Thanks for reading,

EDD

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Posted in Congress, federal budget | No Comments »

The Financial Status of Social Security, Part 3

FinancialStatusOfSocialSecurity_Part3   <– PDF version

Dear readers:

This is the third in a series on Social Security, covering a historical review of the tax rates and income subject to Social Security taxation.  Because of the charts in it, it is available only as a pdf file.

Thanks for reading,

EDD

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Posted in Economics | No Comments »