What is your "Debt Free Date"

[R_Walter]

Me too :thumbsup:

Getting a refund means you loaned the govt money all year interest-free.

If you owe taxes, the govt loaned you money all year interest-free (well, as long as you don't get a penalty for under-payment during the year, that is)

Actually the US Treasury pays interest on federal individual tax refunds

 

[R_Walter]

Correct me if I'm wrong but aren't your withholdings based on your pay rate and your dependent deductions? Wouldnt your paper losses on investment rentals and accelerated depreciation be taken on your tax return form that you use after the payroll deductions are taken?

[/B]

.

Look at a W-4 form. A taxpayer is allowed to calculate the amount of their (federal) withholding instead of just allowing the withholding tables to be used.

 

[R_Walter]

I've been following the arguing back and forth here as to whom is responsible for the economic problems of the last 3 - 4 years, Republicans vs Democrats, Liberals versus Conservatives, ad nauseum. Most of the posters who have responded to this debate obviously fall into one category or the other simply based on your postings. And each of you then goes about trying to defend your particular politics at the expense of the other. It's pretty hilarious that any of you claims an understanding of the economic forces that were and are still at work.

Rather, each of your sounds like partisan political bickering. You really sound like a microcosm of our Congress and Administrations of the last n years.

 

[EddieWalker]

I've been following the arguing back and forth here as to whom is responsible for the economic problems of the last 3 - 4 years, Republicans vs Democrats, Liberals versus Conservatives, ad nauseum. Most of the posters who have responded to this debate obviously fall into one category or the other simply based on your postings. And each of you then goes about trying to defend your particular politics at the expense of the other. It's pretty hilarious that any of you claims an understanding of the economic forces that were and are still at work.

Rather, each of your sounds like partisan political bickering. You really sound like a microcosm of our Congress and Administrations of the last n years.

Typical Liberal. When faced with facts that you don't want to hear, you resort to name calling and then say that everyone does it.

Eddie

 

[Gizmo2]

I've been following the arguing back and forth here as to whom is responsible for the economic problems of the last 3 - 4 years, Republicans vs Democrats, Liberals versus Conservatives, ad nauseum. Most of the posters who have responded to this debate obviously fall into one category or the other simply based on your postings. And each of you then goes about trying to defend your particular politics at the expense of the other. It's pretty hilarious that any of you claims an understanding of the economic forces that were and are still at work.

Rather, each of your sounds like partisan political bickering. You really sound like a microcosm of our Congress and Administrations of the last n years.

:confused2:

 

[300UGUY]

Typical Liberal. When faced with facts that you don't want to hear, you resort to name calling and then say that everyone does it.

Eddie

Eddie, I generally like your posts. But the guy makes a pretty good point. It seems that you don't want to hear it, and you are resorting to name calling.

 

[EddieWalker]

Eddie, I generally like your posts. But the guy makes a pretty good point. It seems that you don't want to hear it, and you are resorting to name calling.

You're right. I shouldn't call somebody a liberal. That wasn't nice of me. How about he's a typical no nothing that comes in and tells eveyone what's wrong with them, but doesn't name a single point that he's so much smarter then the rest of us, and what it is that the rest of us are wrong about? How about the little fact that I post links to back up what I say, and that I ask basic questions that go unanswered time and time again?

Eddie

 

[ultrarunner]

I've been following the arguing back and forth here as to whom is responsible for the economic problems of the last 3 - 4 years, Republicans vs Democrats, Liberals versus Conservatives, ad nauseum. Most of the posters who have responded to this debate obviously fall into one category or the other simply based on your postings. And each of you then goes about trying to defend your particular politics at the expense of the other. It's pretty hilarious that any of you claims an understanding of the economic forces that were and are still at work.

Rather, each of your sounds like partisan political bickering. You really sound like a microcosm of our Congress and Administrations of the last n years.

This is how the system has evolved... I know it is far too complex for the common man to understand... like me.

Most of us do the best we can with what we have... the United States is a large country and just the geography alone will cause people to develop different ideas.

I do not believe the Founders ever dreamed in their wildest imagination the government that we now have with the regulation and taxation we today accept as the status quo...

Just saying TBN is gracious enough to provide a venue for the exchange of ideas... we can choose to be part of the exchange or not.

 

[two_bit_score]

Typical Liberal. When faced with facts that you don't want to hear, you resort to name calling and then say that everyone does it.

Eddie

They usually make that statement when they have run out of arguments to prop up their failing policies and are at their ropes end.

 

[Uncle Doug]

My debt free date will be July 1 2012 the day I retire. at age 55 1/2. We have been prepairing for this date for many years. Our 11 acre farm, tractor and barn are paid off. 3 years ago we built a 800 sq foot shell home on the farm with cash on hand and finished it out ourselves.

I still have our other 2000 foot home with a 55K morgage that we wanted to turn into a rental but do not have cash at this time to fix it up. Chase holds the second morgage with a 8.3% rate and refuses to refinance as there is no longer a 1st morgage. I have been tempted to let them keep it as the housing market is so soft right now. I still have 6 months to decide. I can pay it off with my 401k money if needed as it is not making 8%. Still not sure if I want to get into the rental business.

I have 2 auto loans more than 50% paid off. My retirement pension will be on top of my 401k money will leave me in good shape if after paying down debt.

We have been telling our friends for years we will retire in 2012 and have been actively working our plan. Many still do not believe it is possible to retire at 55.