patrick.net

WookieMan says

FortWayne says

If middle class is 100k, than every government employee here is upper class dude, because they all make way more. In CA, 100k is not bad, but in a city that won't go far. It's an expensive state. I know I've done well last few years for myself. In Indiana 100k is great, in CA that's not much.

I get what you're saying, but median is middle. $58k is what the middle family makes. I get people make different amounts in different places, but $100k is technically not middle class, it's middle upper class. You saying you're middle class AND pay AMT seems a little tone deaf to me.

I don't know your guys income. But just make up a scenario at least to show me how you're saving high 4 figures and some saying 5 figures. If these calculators are readily available this should be pretty short work. I'll be honest, I doubt the claims, but am open to seeing some data. I'll eat ...

Cause the calculator said so. Lmfao

The tax cut is definitely more beneficial to certain no income tax states like Florida Washington and Texas

But claiming 10k in savings say 200k in income is effectively a 5% effective tax rate cut. We know that only applies if all the stars are aligned

If you a LLC owner and hire people, then yeah. Tax cuts are significant.

SFace says

Cause the calculator said so. Lmfao

I'm going to give the benefit of the doubt here. I have no problem being proven wrong, honestly. I just don't know any scenario where someone making $200k in 2017 is going to save $10k in federal taxes in 2018 all thing being equal, besides the new tax law. This is my income range and have done my own taxes for 15 years. I'm interested in these calculators or some data to back the claims up is all. .

WookieMan says

SFace says

Cause the calculator said so. Lmfao

I'm going to give the benefit of the doubt here. I have no problem being proven wrong, honestly. I just don't know any scenario where someone making $200k in 2017 is going to save $10k in federal taxes in 2018 all thing being equal, besides the new tax law. This is my income range and have done my own taxes for 15 years. I'm interested in these calculators or some data to back the claims up is all. .

The tax cuts are well documented, the median person gets 1800 or so. The rich will laugh and save 2.6% on higher base and, business owners cream due to pass thru deductions
The upper working class in blue states get diddly squat.

If you are middle class, you get around 2k, more in Texas. But not 10k

SFace says

The tax cuts are well documented, the median person gets 1800 or so.

I know. Just trying to get the challenge out there.

The only person I've ignored on this site ever was making false claims like this ($10k savings). I even gave a path for that user to admit they lied and they still wouldn't admit the BS. Maybe the truth is being told, but given the accessibility of the calculators out there, it should be no problem showing the math from '17 to '18 and the savings. I'll wait and keep asking.

SFace says

But claiming 10k in savings say 200k in income is effectively a 5% effective tax rate cut. We know that only applies if all the stars are aligned

It's 4% difference on $200K between tax rates 2017 versus 2018, before tweaking:

28% on $200K in 2017



Versus 24% on $200K in 2018



WookieMan says

I have no problem being proven wrong, honestly.

Alright, you both can admit you're wrong now.

Sniper says

It's 4% difference on $200K between tax rates 2017 versus 2018, before tweaking:

Even better with MFJ (second column).

Finally a tax cut that understands that 2 people = income x2, not income x1.2 and penalize you for making more than that. Marriage penalty is gone. Liberals sure had their way of discouraging families with their blood sucking tax plan before.

I really am thankful to Trump for this change. It'll encourage initiative, help Americas families, all good things the left simply will not understand. :)

FortWayne says

Even better with MFJ (second column).

Plus the increase in the standard deduction to $24K for 2018 (up from $12K).

and if you have kids, The child tax credit will increase from $1,000 to $2,000 per child under age 17.

I wonder where those two guys ran away too?????

Sniper says

I wonder where those two guys ran away too?????

I'm here. I still haven't heard an explanation of how you yourself are going to save $8-10k or FW. Plug the numbers in on your own chart and the best you can do math wise with $200k income is a $6,300 savings with everything else excluded - see below. Factor in $10k SALT caps in NJ and CA and I'm not sure where you're getting your savings amounts. I'm in IL myself. By my estimation this tax "cut" will take about $2k out of my pocket, not a savings (this is admittedly my own tax situation).

This tax cut was totally intended to fuck blue states with high property taxes and income taxes. That's why I'm taken aback about you guys saying you're going to save 5 figures. If you're making $400k, good for you, because that's probably about what it would take to get those kind of savings and is not middle class income per FW.

I'm okay with these tax cuts. I'm not fighting them. I'm just fighting the numbers you guys are presenting. Show me an actual calculation and not a Wikipedia screen shot of tax rates that we all already know.

Sniper says

I wonder where those two guys ran away too?????

My humble guess is them boys went to find themselves a wife to get a tax cut.

WookieMan says

I'm here. I still haven't heard an explanation of how you yourself are going to save $8-10k or FW

Come on man, you are not even reading details:

FortWayne says

a tax cut that understands that 2 people = income x2, not income x1.2 and penalize you for making more than that

FortWayne says

Even better with MFJ

I'm MFJ. 2017 = marriage penalty. 2018 = no penalty. Everyone is different of course. Some people can take advantage of child credit, and bigger standard deduction (12->24). Others are simply in better brackets, such as in our case. There is no magic here. Just simply better tax plan that works for everyone. Rich got the smallest tax cut, just 1%.

WookieMan says

I'm here. I still haven't heard an explanation of how you yourself are going to save $8-10k or FW. Plug the numbers in on your own chart and the best you can do math wise with $200k income is a $6,300 savings with everything else excluded

That's because you don't know how to be creative when it comes to taxes. I prepaid a bunch of things in 2017 to get the full deduction. Now in 2018, I'll take the standard deduction of $24K, but since I got full deduction of items in 2017, I'll save between $8K -$10K this year based on out of pocket expenses.

WookieMan says

I'm just fighting the numbers you guys are presenting.

Just admit, you're not as sharp as you appear. :)

WookieMan says

This tax cut was totally intended to fuck blue states with high property taxes and income taxes.

Very true, voting Democrat in those states has consequences.

Hi Wookieman,

I believe your quibble with Ft Wayne is over what constitutes middle class. I’ve had the same argument with people claiming family income of $250-500k a year is middle class.

FWIW, based on rising rents and housing costs in LA and OC, I’ve personally adjusted my definition of middle class in LA and OC as thusly:

$80-120k lower middle class
$125-175k middle class
$175-250k upper middle class

I know that sounds crazy but by that standard, lower middle class is completely priced out of buying anywhere but ghetto and will struggle to find a rental unit with a good school district, the middle class person is mostly relegated to an hour plus commute or a townhome in a decent school district, and the upper middle class family should be able to afford a sfr in a decent are, though it won’t be fancy unless it’s in one of the outer suburbs.

Personally in calculating the lower tax amount, our family income is in the $125-150k range and we are largely priced out of the areas we want to live in LA. I’m close enough to retirement that it’s not worth it for us to buy in LA anyway as we’re retiring out of state.

Of course all of this depends on when you bought. Someone who bought in the 80’s is pretty much middle class on an income of $40-60k

Sniper says

SFace says

But claiming 10k in savings say 200k in income is effectively a 5% effective tax rate cut. We know that only applies if all the stars are aligned

It's 4% difference on $200K between tax rates 2017 versus 2018, before tweaking:

28% on $200K in 2017



Versus 24% on $200K in 2018



WookieMan says

I have no problem being proven wrong, honestly.

Alright, you both can admit you're wrong now.

I did say 5% if all the stars are aligned. There is no disagreement there. And the rate is not 4% once all the brackets are worked through. It's closer to 3.2% (as someone else posted) so you are still farting make up numbers.

What you claimed a middle class saves 10K is wildly making shxt up. Your chart, at the most basic level (100K in taxable income after itemized deduction which translate to 130K in gross wages) income saves around 2K (Based on the very tax bracket you prove to show how wrong you are). A family earning 130K in gross income, 100K taxable saved 2K in taxes.

You can finesse the # all you want, but no middle class family is saving 10K in taxes. unless someone you think earning 250K (In non-coastal CA, NJ.NY) in gross wages is middle class. I don't even care how much someone saved or not saved, BUT PLEASE, making shxt up is not cool. The average family is not saving 2K and you dug yourself in denial.

CovfefeButDeadly says

Hi Wookieman,

I believe your quibble with Ft Wayne is over what constitutes middle class. I’ve had the same argument with people claiming family income of $250-500k a year is middle class.

FWIW, based on rising rents and housing costs in LA and OC, I’ve personally adjusted my definition of middle class in LA and OC as thusly:

$80-120k lower middle class
$125-175k middle class
$175-250k upper middle class

I know that sounds crazy but by that standard, lower middle class is completely priced out of buying anywhere but ghetto and will struggle to find a rental unit with a good school district, the middle class person is mostly relegated to an hour plus commute or a townhome in a decent school district, and the upper middle class family should be able to afford a sfr in a decent are, though it won’t be fancy unless it’s in one of the outer suburbs.

Personally in calculating the lower tax amount, our family income is in the $125-150k range and we ar...

Couldn't agree more. CA inflation is madness.

And here is probably why:
http://www.latimes.com/opinion/editorials/la-ed-drop-pension-20180206-story.html - a drop in the bucket as they say...

I think what we can all agree on is the author in the article cited in OP has an agenda and is content with using deceptive writing and bias to make his point.

Sniper says

That's because you don't know how to be creative when it comes to taxes. I prepaid a bunch of things in 2017 to get the full deduction. Now in 2018, I'll take the standard deduction of $24K, but since I got full deduction of items in 2017, I'll save between $8K -$10K this year based on out of pocket expenses.

Thanks for the clarification. You took advantage of pre-paying your property taxes it sounds like. You've said you're retired, so not sure what else you're pre-paying, but would love to hear new strategies, seriously. Outside of property tax pre-pay, not sure what is creative here.

Sniper says

I'll save between $8K -$10K this year based on out of pocket expenses.

Quoting this again, because your original assertion was the savings were next year. That's fine if it was a typo. Your explanation here makes more sense about the savings. You probably should average the savings this year out over two years and then account for the actual tax cuts next year. It's probably closer to a $3-4K savings per year, and that was my main point. $10k per year savings it generally exaggerated unless you're pulling in $400k. And again, if you are, good for you. I don't begrudge people making bank.

Sniper says

Based on quick math, I'll also be saving around $8K - $10K next year too.

Sniper says

FortWayne says

Even better with MFJ (second column).

Plus the increase in the standard deduction to $24K for 2018 (up from $12K).

and if you have kids, The child tax credit will increase from $1,000 to $2,000 per child under age 17.

I wonder where those two guys ran away too?????

No one ran away. You look more and more in denial

More standard deduction 12k increase is offset by losing the personal exemption which for a minimum of 2 is 8k+ God forbid you don't have four kids. Or you were itemizing under in the past and now on standard deduction so your personal exemption is totally wiped out and more.

And that just makes your middle class argument worst. Your tax bracket is taxable income after deductions. Your middle class gross income of 125k reports at max 101k in taxable income. And that's before healthcare, 401k. A 125k family reports closer to 90k in taxable income even on standard deduction.

Your hypetthical 200k in taxable income translate which saves 6300 translates to 240k in gross income. Good luck telling me this is your average middle class.

Chile tax credit does not move the needle. It's just compensating for lost personal exemption.

You should throw the calculator out the trash can because you look at it way too simple. Your denial makes it look worst because you just prove you understand little but represent a lot.

CovfefeButDeadly says

FWIW, based on rising rents and housing costs in LA and OC, I’ve personally adjusted my definition of middle class in LA and OC as thusly:

$80-120k lower middle class
$125-175k middle class
$175-250k upper middle class

I wouldn't disagree with this as an outsider to LA. Chicago is similar if you want to live in a decent area and not get shot. I just still don't get the $10k annual savings from this tax plan for someone making money even on the top end of your range (just mentioning your class range, not that you're saying you yourself are saving X dollars on taxes). My chart above kind of proves the argument for someone making $200k and having ALL the income taxed. It's only a $6k savings. Throw in all the other tax code gibberish and a $200k earner/family is only getting taxed at $150k. So it's even less then $6k difference.

I just want a little more detail from these guys. Sniper gave some in the form of pre-paids. But I'm still not seeing $10k a year savings. Or even $8k.

FortWayne says

I'm MFJ. 2017 = marriage penalty. 2018 = no penalty. Everyone is different of course. Some people can take advantage of child credit, and bigger standard deduction (12->24). Others are simply in better brackets, such as in our case. There is no magic here. Just simply better tax plan that works for everyone. Rich got the smallest tax cut, just 1%.

Dude, I don't know what to believe anymore. You were just talking about AMT and now you're talking about tax brackets? It can't be both, you do understand that, right? If you're having to go AMT route, there's a good (great) chance you've got enough income to be phased out of the child tax credit. So again, not sure where you are going with this. Just say you like the tax plan and don't get into the details.

WookieMan says

Not sure if this is sarcasm.

I have a high income. Well above $250K.

Wookieman at this point this is a reading comprehension problem on your part.

Just read more about taxes so you understand it.

WookieMan says

FortWayne says

I'm MFJ. 2017 = marriage penalty. 2018 = no penalty. Everyone is different of course. Some people can take advantage of child credit, and bigger standard deduction (12->24). Others are simply in better brackets, such as in our case. There is no magic here. Just simply better tax plan that works for everyone. Rich got the smallest tax cut, just 1%.

Dude, I don't know what to believe anymore. You were just talking about AMT and now you're talking about tax brackets? It can't be both, you do understand that, right? If you're having to go AMT route, there's a good (great) chance you've got enough income to be phased out of the child tax credit. So again, not sure where you are going with this. Just say you like the tax plan and don't get into the details.

In CA that’s barely middle class these days sadly due to Democrat liberal policies of inflation.

PrivilegedtobeWhite says

WookieMan says

Not sure if this is sarcasm.

I have a high income. Well above $250K.

PrivilegedtobeWhite says

WookieMan says

Not sure if this is sarcasm.

I have a high income. Well above $250K.

Then your $8k claim is good by me. There are ways to get that kind of savings over $250k income. Sniper explained his savings as well, though I think he misspoke about the time frame of those savings. Not a big deal though.

I just take issue with FW claiming $10k savings and barely considers himself middle class. So I threw out the $200k income example (WAY over middle class) and with zero deductions (meaning paying more) the difference was $6k from 2017 to 2018. Put in the standard deduction for either old tax plan or new tax plan and there's less income taxed. So the difference is even less then $6k on $200k income. It's probably a $4-$5k savings. That's probably best case in a low/no income tax state. CA is not one of those. It's a savings no doubt, just not double what was claimed.

He either makes more than $200k, again awesome, or he's making up savings amounts. I personally don't have a problem with the tax plan myself. I've run my numbers here in IL (similar SALT burdens to CA though flipped with property & income taxes) comparing 2017 and 2018 and with around $200k family income, I will pay slightly more in taxes due to the salt cap of $10k. It is what it is. I also understand the strategy by the Republicans. States like IL are already fighting to keep their citizen cash flow going: http://www.chicagobusiness.com/article/20180411/BLOGS02/180419968/state-lawmakers-look-for-a-trump-tax-cap-workaround

I'd just appreciate some honestly when a topic isn't known to someone. It's not a big deal. We're not encyclopedias. At some point, stop digging the hole though or give some rough numbers on how you're getting to $10K savings and not just the talking points about the tax plan. If it's explained logically, hell even simply, I'll drop my contention towards the claim. Not too difficult really. I think most here would say I'm a reasonable commenter at Patnet.

RafiMaas says

Which state will pay the defense budget when all states become like red states, deadbeat states?

It's not like California receives Defense Spending. Which also incubated the Tech Industry, by the way. Apple and Facebook are because of big Defense spending, tech clustered in California because of Lockheed and Rocketdyne.

WookieMan says

Then your $8k claim is good by me. There are ways to get that kind of savings over $250k income. Sniper explained his savings as well, though I think he misspoke about the time frame of those savings. Not a big deal though.

I said SAVINGS, as in DOLLARS in my pocket, but some of the people here in this thread can't seem to understand that point, and are just trying to apply a "tax rate" to some hypothetical income amount. Of course, just applying a rate to an income, won't help certain people comprehend that point, and they can bang their calculators until there's nothing left.

Sniper says

SFace says

But I would expect that from someone who has no problem and no concern giving all his personal information away on his phone.

Is that a lecture from someone who is living in 1950 (and good for you that you are disconnected)? I'm sure you like to spend 2 weeks doing something that takes 2mins. I value efficiency. Plus don't even begin to lecture about security because you have not even bothered. Sounds like the Kennedy senator that asks how FB made $$. I know how FB makes money, how Banks margin/leverage, how insurance prices, I study Blockchain technology; you just lecture based on what you learned from grandma

Sniper says

I said SAVINGS, as in DOLLARS in my pocket, but some of the people here in this thread can't seem to understand that point, and are just trying to apply a "tax rate" to some hypothetical income amount. Of course, just applying a rate to an income, won't help certain people comprehend that point, and they can bang their calculators until there's nothing left.

Because you are still making shxt up. How do you save 10K on a typical middle class income based on tax law changes alone? because you said so or you just want to pull more and more rabbits to make more shxt up. 150K income becomes 250K, Texas not CA. Oh please

Since I live in a blue state and will get hit with SALT limitations, I went ahead and increased my withholding to make up for the amount my withholding was decreased. If necessary, I will adjust that after tax season next year. It seems to be the only prudent thing to do, unless you potentially like paying interest and penalties on top of your income taxes.

Sniper says

I said SAVINGS, as in DOLLARS in my pocket, but some of the people here in this thread can't seem to understand that point, and are just trying to apply a "tax rate" to some hypothetical income amount. Of course, just applying a rate to an income, won't help certain people comprehend that point, and they can bang their calculators until there's nothing left.

I'm lost at this point. It's pretty easy for anyone here. Make up your income and add or subtract $5k so you don't feel like you're giving out personal info. In 2017 I deducted X, Y & Z. With the new plan in 2018 I would deduct X, Y & Z and it saved me $10k. I'm fully aware every tax situation is different. Would just like someone to show how their situation is so unique, that they'll save $10k with what amounts to minimal tax cuts for middle class people.

They're cuts, better then increases. I believe we're pulling on the same end of the rope here. But let's just stop inflating the numbers. If someone here isn't inflating the numbers or makes $250k plus then either show me some numbers or just say you make $250k plus. I'll move on. I'm not even getting simple explanations, which are easy to produce, why someone would save $10k on 2018 taxes vs. 2017. I keep hearing talking points. That's not actual $10k in savings or dollars back in your pocket as you say.

zzyzzx says

Since I live in a blue state and will get hit with SALT limitations, I went ahead and increased my withholding to make up for the amount my withholding was decreased. If necessary, I will adjust that after tax season next year. It seems to be the only prudent thing to do, unless you potentially like paying interest and penalties on top of your income taxes.

This. This right here is all I'm asking for. Honesty about a tax situation and not claiming $10k in savings from a marginal, really small, tax cut. In fact, in some states, if you were itemizing more then $24k and more then $10k of that was property tax or income tax, you're likely break even or potentially having to pay more. I just don't get this thread anymore.

*writes dozens of pedantic paragraphs about tax code minutia* then

WookieMan says

I think most here would say I'm a reasonable commenter at Patnet.

Lolz. Dude drop it.

WookieMan says

I'm lost at this point.

I can tell. I'll try and make this really simple for you guys.

On the Schedule A, you list all your ACTUAL out of pocket expenses (if you itemize and not take the standard deduction), and that itemized ACTUAL total flows over to your 1040 to help determine your taxable income. Once again, the Schedule A is the ACTUAL dollars spent out of pocket. I've itemized for many, many years.

Now for next year's taxes (which is actually this year 2018, the tax return isn't submitted until 2019) ( I know, I have to spell that out for the learning impaired here) I'll actually take the standard deduction instead of itemizing. The standard deduction next year (actually this year 2018) is $24K, but the ACTUAL dollars I'll spend will be around $15K out of pocket.

So basic math skills here, $24K deduction - $15K ACTUALLY spent = $9K out of pocket savings (money that I didn't spend on the Schedule A). Remember when I said this:

Sniper says

Based on quick math, I'll also be saving around $8K - $10K next year too.

So tell me, is $9K in between $8K and $10K? (Once again, next year references doing my taxes in 2019 for the 2018 tax year).

and this is before any other tweaking and the lower tax rates starting next year.

Hopefully, this helps certain posters.

CBOEtrader says

Lolz. Dude drop it.

Huh? Can people not read here? WTF is this below? You can't just make shit up. Sorry.

Sniper says

So basic math skills here, $24K deduction - $15K ACTUALLY spent = $9K out of pocket savings (money that I didn't spend on the Schedule A).

I'm now definitely at a complete loss. You do realize a deduction is a reduction in taxable income, right? So your $9k is in fact NOT out of pocket savings. It's a $9k reduction in taxable income. So if you made $200k and for simplicity we ignore other deductions besides the new standard deduction that you mention. You would report $191k in taxable income (200k-9k).

When you look at the tax brackets previous to the new ones, you're talking saving only on the $9k in reduced income. 28% (2017) on $9k = $2,520. Then 24% (2018) on $9k = $2,160 Amazing $360 savings.

Sorry, this isn't minutia. Not sure if it's purposeful or not, but the claims being made in this thread are wrong. It was just backed up in the quoted comment with a complete and utter lack of understanding taxes.

Either way, anyone with ANY understand of taxes knows that you're not saving $10k, i.e. NOT PAYING that $10k in taxes while taking the standard deduction in 2018, but would have itemized in 2017. It's not possible. We have people here claiming that's the case because they don't know what a deduction is.

I'm likely done with this thread. I get most people don't do their own taxes. But this is just blatant lying at this point. Good luck with your $9k saved in taxes, err I mean deduction....

The Trump plan raises the AMT limits, so that should be a help to me. The Trump plan has slightly more generous tax brackets, so that should help me too. The Trump plan limits SALT deductions to $10k, but my SALT deduction is already $0.

I live in silicon valley and make enough money to hit AMT hard every year. For 2017 I wrote off exactly NONE of my SALT. My federal overall income tax rate was 28%. That's not the marginal rate; that's the rate on my entire income. The AMT deduction is phased out at a certain income level, so I pay full 28% AMT on ALL of my income.

Yeah, I had to fill out that AMT form this year. Totally sucked.

Sniper says

Do you know the difference between paying $10K in taxes versus saving $10K out of pocket??

Last one I promise. Assume same income and reduce your withholdings by $10k for this year, 2018. You withheld the perfect amount and got $0 back and owed nothing for 2017 tax year. So with a $10k reduction in withholdings, will you owe money to the federal government or not when you file taxes in 2019 for 2018 tax year? This is a yes or no question. No other quoting or theatrics necessary.

WookieMan says

, really small, tax cut.

Using that tax chart, if you are single and making 200K, you are paying 32% of income over 157K instead of 28%???? WTF

Honestly, I'm done. I gave it a chance. Hasta La Vista, Baby. Not sure why I wasted so much time on this topic given the complete and utter lack of knowledge on the topic. Ignore #2 in the books.

WookieMan says

He either makes more than $200k, again awesome, or he's making up savings amounts. I personally don't have a problem with the tax plan myself. I've run my numbers here in IL (similar SALT burdens to CA though flipped with property & income taxes) comparing 2017 and 2018 and with around $200k family income, I will pay slightly more in taxes due to the salt cap of $10k. It is what it is. I also understand the strategy by the Republicans. States like IL are already fighting to keep their citizen cash flow going: http://www.chicagobusiness.com/article/20180411/BLOGS02/180419968/state-lawmakers-look-for-a-trump-tax-cap-workaround

Yes I made over 200k last year Wookie. Because I'm filing MFJ our family gets a nice tax cut. Trump tax cuts work well for families. If you are single, or filing single, it won't affect you the same (at least not in my tax bracket). Previous brackets taxed families much higher because they didn't double the income for families.

I get it that you think I'm upper middle class based on my income. But I'm telling you, in CA, that's not middle class, because cost of living is very very high. We live in a small house, we live very conservatively. I can't go out and buy a million dollar 2000 sq/ft house in a "white neighborhood" with great schools, which is what "middle class" is in this area. It's too expensive simply. I missed that boat. Democrats and their high taxes on everything, with irresponsible spending habits, have raised cost of living a lot. If I did that, I'd be spending all my money on it worrying about paying mortgage and high taxes. That would be self inflicted stress and torture, not living.

Does this explain it?

WookieMan says

Honestly, I'm done. I gave it a chance. Hasta La Vista, Baby. Not sure why I wasted so much time on this topic given the complete and utter lack of knowledge on the topic. Ignore #2 in the books.

Yes, that's the perfect adult way to handle it when a concept, a direct question and reading comprehension goes completely over your head. Welcome to Snowflake central.

This - http://taxplancalculator.com/ - gives a rough comparison. I live in a red state, and tax cut for me is about 5K (income of ca. 200K).

However, I'd rather have politicians cut spending where it matters (military, and entitlements) so that country does not go broke, as opposed to cutting just taxes and putting future of country on credit card.

One day we will wake up with either inflation, in which case savers are fucked first, followed by everyone else, or with USGov not being able to pay the bills, in which case we are in for a Depression.