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(actually Slim Jr now)
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There's a radio program Sunday mornings where they discuss home financing, interest paid,
deducting the interest etc. Subject came up. Typical college cost per year and our national debt.

Haven't checked this but here are numbers thrown out.

Typical college cost about $30,000/yr.
Size of a trillion $.

If you spent $30,000/day it would take 90,000 years to spend a trillion $.


They used $30,000 because starting next year the standard deduc tion for joint return
will be $28,000.

Our national debt is now approx $20 trillion!

Have a nice day!
 
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Slim, you must be a blast at parties! Wife and I almost broke even tax wise this year by not taking a deduction on ourselves.

Sadly, few care about the national debt.
 

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Hmm...doing them right now!

Actually, I'm just satisfying my ADD right now on VMF and will get going on them again in a minute.

...does anyone know how to handle a cap gain with repurchase of the same stock a few days later? Most of the info online is about wash sale/losses...new territory for me.
 

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Hmm...doing them right now!

Actually, I'm just satisfying my ADD right now on VMF and will get going on them again in a minute.

...does anyone know how to handle a cap gain with repurchase of the same stock a few days later? Most of the info online is about wash sale/losses...new territory for me.

Get a tax guy if you're having these kinds of questions.


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...does anyone know how to handle a cap gain with repurchase of the same stock a few days later? Most of the info online is about wash sale/losses...new territory for me.
Who waits till the last second to do their taxes? I started mine last weekend.:wink:
 

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Hmm...doing them right now!

...does anyone know how to handle a cap gain with repurchase of the same stock a few days later? Most of the info online is about wash sale/losses...new territory for me.
If you have a gain, then repurchase....no issues. You treat the sale as you would any other. If stock was held less then12 mo, then short-term. If it was more then 12 mo, long term.
 

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I truly don't get taxes. I have a CPA do my taxes every year and we never get less than $1500 back. we make sure we max out contributions, do tax credit upgrades to the house, etc.. this year we contributed more to the retirement than ever before, moved, and the wife didn't work for 3 month out of 2017. different CPA for this year and we got $500 back. How?! how is it any different than last year as we made less, contributed more, and had a good amount of moving expenses?


And I really don't get how no one in DC care to fix our national debt. Man, if some people got serious fixing that, I truly couldn't imagine how much better our country would be if we were able to put money into schools, roads, and national security rather than funding investigations on how a spider monkey from Mongolia would affect Texas' rain forest!
 

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I think the debt is not addressed because each party knows that it is impossible to eliminate it without raising taxes (at least by doubling) or just outright confiscation of peoples assets.

Can we reduce how fast we add to the debt. Yes. But that would mean taking away the hands that feed the politicians as well as taking away welfare benefits, Medicare/Medicaid Social Security and the military. None of these things would be very popular with voters.

Since Harry Truman established the first welfare from the Federal government, the feds have paid out about 19 trillion in Welfare. He said at a time it was assistance to give to people for a year or two "until they can get back on their feet." Of course some welfare is needed for the physically and/or medically handicapped and to help people in the short term. But, welfare as a way of life generation after generation is just not right or sustainable.
 

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I think the debt is not addressed because each party hopes things won't go pear shaped until they're out of office. It's a political hot potato.
 

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The politicians will talk a good game about the debt, but they won't do anything about it because they've sold themselves to the lobbyists of special interests. And we have to pay all the poor countries millions, even tho most of them hate us. If the government only did what was required by the Constitution, we would have a really good surplus and no debt. Getting rid of the pensions that politicians gave themselves would be a really good start. Or I need to get elected to office and quit after 1 term and just live off the pension for the rest of my life.
 
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