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Posted: 8/3/2022 11:34:56 AM EDT
[#1]
Quick bump up in taxes should help out
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Posted: 8/3/2022 11:38:28 AM EDT
[#2]
I dont owe SHIT!
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Posted: 8/3/2022 11:39:54 AM EDT
[#3]
When the economic collapse comes, people will not be paying bills and this $16 Trillion will be a big kick in the nuts.
Owing money on a house you bought in the last couple of years and now worth much less, credit card debt, etc. It will be bad. |
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Posted: 8/3/2022 11:42:42 AM EDT
[#4]
Quote HistoryQuoted: I dont owe SHIT! I'm right there with you. Nothing owed to anyone. |
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Posted: 8/3/2022 11:43:48 AM EDT
[#5]
Quote HistoryQuoted: Quick bump up in taxes should help out Doubling the number of IRS agents should fix it. |
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Posted: 8/3/2022 11:47:29 AM EDT
[#6]
Quote HistoryQuoted: I'm right there with you. Nothing owed to anyone. Me too but it took me a 50 years to get completely debt free. I'm 67. My younger Brother is 60 and just took on a 250k mortgage. DUMB!! |
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Posted: 8/3/2022 11:48:29 AM EDT
[#7]
Only way to solve it is a complete reset .
No one owes any money to any financial institution starting RIGHT NOW! No need to thank me folks just here to help 
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Posted: 8/3/2022 11:49:41 AM EDT
[#8]
I’m doing fantastic then, my household debt is quite a bit less than $16 trillion.
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Posted: 8/3/2022 11:50:36 AM EDT
[#9]
Quote HistoryQuoted: When the economic collapse comes, people will not be paying bills and this $16 Trillion will be a big kick in the nuts. Owing money on a house you bought in the last couple of years and now worth much less, credit card debt, etc. It will be bad. Welcome to the New United State of Zimbabwe. |
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Posted: 8/3/2022 11:52:21 AM EDT
[#10]
Quote HistoryQuoted: I'm right there with you. Nothing owed to anyone. Quote HistoryQuoted: Quoted: I dont owe SHIT! I'm right there with you. Nothing owed to anyone. |
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Posted: 8/3/2022 11:53:13 AM EDT
[#11]
Total household debt isn't that interesting of a statistic. Population grows every year and the economy grows most years. It naturally follows that household debt will increase over time even if people are doing everything right.
A more interesting statistic would be household debt per capita or per household. That would tell you a lot more about how individuals are growing their liabilities or not. |
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Posted: 8/3/2022 11:54:00 AM EDT
[#12]
Quote HistoryQuoted: I dont owe SHIT! 
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Posted: 8/3/2022 11:54:17 AM EDT
[#13]
Quote HistoryQuoted: I dont owe SHIT! Oh yeah? Try not paying property taxes. I don't have any debt either, but will be paying around 10k in property taxes to the king. I am not stupid though, and realize I get things from my taxes. Our county is almost 95% paved roads. |
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Posted: 8/3/2022 11:56:07 AM EDT
[#14]
Only debt I have is my house, and it's worth ~ $250K more than I owe on it.
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Posted: 8/3/2022 11:57:24 AM EDT
[#15]
“I don’t owe anyone!”
I have a mortgage at 1.9% on my second home. I owe money on the house. But I’m paying next to nothing to do so, and it’s value is skyrocketing still (despite the market). The cash that could be paying the house down or off is elsewhere, making money. Owing money isn’t always a bad thing. |
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Posted: 8/3/2022 12:02:17 PM EDT
[#16]
Now divide that by the 126,000,000 households in the US.
It's not even 150k. It's a nothing burger. Now, tell me how much CC Debt the country is carrying and I'd likely be more inclined to be alarmed. Though probably still not surprised. The mix of debt is way more important than the total amount of debt. 
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Posted: 8/3/2022 12:02:44 PM EDT
[#17]
Quote HistoryQuoted: Oh yeah? Try not paying property taxes. I don't have any debt either, but will be paying around 10k in property taxes to the king. I am not stupid though, and realize I get things from my taxes. Our county is almost 95% paved roads. that's insane, $10k?? do you have a giant mansion or something?! 
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Posted: 8/3/2022 12:04:21 PM EDT
[#18]
Good thing I don't have any student loans.
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Posted: 8/3/2022 12:04:45 PM EDT
[#19]
Quote HistoryQuoted: I dont owe SHIT! Yep. Proud to have worked my ass off, been fortunate and made a few smart decisions to become debt free. |
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Posted: 8/3/2022 12:06:05 PM EDT
[#20]
Quote HistoryQuoted: that's insane, $10k?? do you have a giant mansion or something?! Nice home and 350 acre farm. Not bad when I see what folks in places like NYS and Kali are paying. |
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Posted: 8/3/2022 12:07:23 PM EDT
[#21]
Quote HistoryQuoted: Only debt I have is my house, and it's worth ~ $250K more than I owe on it. That is about us as well, all do we do have one car note, at 0% interest, which is probably 70% paid off (I'm guessing a $30K loan a few years ago). I'm thinking that if we emptied our checking and savings, we could pay off our house and car tomorrow, but we would be flat broke for a few months. Our property taxes are bigger than our house note. |
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Posted: 8/3/2022 12:08:31 PM EDT
[#22]
Quote HistoryQuoted: I dont owe SHIT! +1 But I think we might be the suckers in the long game 
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Posted: 8/3/2022 12:09:19 PM EDT
[#23]
Quote HistoryQuoted: that's insane, $10k?? do you have a giant mansion or something?! My taxes are 10k in the Midwest and I'm on 0.395 acres.  Actually they are over 11k. 
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Posted: 8/3/2022 12:12:21 PM EDT
[#24]
 Gold Diggers of 1933 - "We're in the Money" |
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Posted: 8/3/2022 12:12:56 PM EDT
[#25]
Quote HistoryQuoted: Now divide that by the 126,000,000 households in the US. It's not even 150k. It's a nothing burger. Now, tell me how much CC Debt the country is carrying and I'd likely be more inclined to be alarmed. Though probably still not surprised. The mix of debt is way more important than the total amount of debt. Good point, and this is just a hair under what we probably owe in total debt for our house and car. Our annual income is quite a bit higher than our total debt. Our monthly credit card bills are a few grand every month. We put almost everything on our CC'....but we pay them off every month. I think it is safe to say that I have not paid more than $50 in credit card interest over the past 20 years. That interest usually comes from me forgetting to pay a credit card I only use everyone once in awhile, so a month of interest adds up. I get any late fee removed and just pay the bill/interest off. |
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Posted: 8/3/2022 12:13:29 PM EDT
[#26]
I think about half of that is my dumbass sister and her boyfriend.
They are currently still making payments on their last TWO vacations. |
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Posted: 8/3/2022 12:14:54 PM EDT
[#27]
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Posted: 8/3/2022 12:15:54 PM EDT
[#28]
Quote HistoryQuoted: I think about half of that is my dumbass sister and her boyfriend. They are currently still making payments on their last TWO vacations. hells yeah! |
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Posted: 8/3/2022 12:18:51 PM EDT
[#29]
Quote HistoryQuoted: that's insane, $10k?? do you have a giant mansion or something?! +$11K this year for us. Gotta love Illinois 
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Posted: 8/3/2022 12:21:13 PM EDT
[#30]
Quote HistoryQuoted: I think about half of that is my dumbass sister and her boyfriend. They are currently still making payments on their last TWO vacations. YOLO !!¡!!!!! |
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Posted: 8/3/2022 12:21:16 PM EDT
[#31]
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Posted: 8/3/2022 12:22:45 PM EDT
[#32]
Quote HistoryQuoted: I'm right there with you. Nothing owed to anyone. Quote HistoryQuoted: Quoted: I dont owe SHIT! I'm right there with you. Nothing owed to anyone. For the first time in my adult life, I have no mortgage, no cc bills, no car payments. Payday is no longer 'Mothers Day'.....as in 'Pay this Mother, pay that Mother' |
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Posted: 8/3/2022 12:23:45 PM EDT
[#33]
Quote HistoryQuoted: I think about half of that is my dumbass sister and her boyfriend. They are currently still making payments on their last TWO vacations. With the way things are going, they may be the smart ones and the debt free are the idiots. It’s calming being debt free, but knowing the dumbest of fucks are gaming the system at my expense takes some of the shine off it. |
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Posted: 8/3/2022 12:25:28 PM EDT
[#34]
It will get worse. Stuck behind people at checkout that go through 9 cards before finding one that isn't maxed out is a common experience. And becoming more common in grocery stores lately.
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Posted: 8/3/2022 12:27:15 PM EDT
[#35]
Quote HistoryQuoted: Nice home and 350 acre farm. Not bad when I see what folks in places like NYS and Kali are paying. California actually has lower property taxes than other states because of Prop 13 https://en.wikipedia.org/wiki/1978_California_Proposition_13 |
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Posted: 8/3/2022 12:27:52 PM EDT
[#36]
Quote HistoryQuoted: YOLO !!¡!!!!! Quote HistoryQuoted: Quoted: I think about half of that is my dumbass sister and her boyfriend. They are currently still making payments on their last TWO vacations. YOLO !!¡!!!!! That's literally their answer. "We're gonna owe people money forever anyway so may as well do what we can. YOLO." |
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Posted: 8/3/2022 12:28:37 PM EDT
[#37]
Quote HistoryQuoted: I dont owe SHIT! Oh yes will...guess who is going to pay off the debt of companies too big to fail? |
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Posted: 8/3/2022 12:28:42 PM EDT
[#38]
I been saying that for a while. Most people have to be drowning in debt. I am poor for GD but make ok money and I can’t seem to afford shit like people that make less then me. Everyone is always getting new cars, huge home repairs, & vacations.
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Posted: 8/3/2022 12:30:53 PM EDT
[#39]
I just paid my credit card this morning, the ENTIRE $22.36 balance.
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Posted: 8/3/2022 12:33:56 PM EDT
[#40]
Not good
75% of millennial owe 100k or more Not including home mortgages. |
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Posted: 8/3/2022 12:34:14 PM EDT
[#41]
Quote HistoryQuoted: Only debt I have is my house, and it's worth ~ $250K more than I owe on it. Same here. Maybe $200K. |
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Posted: 8/3/2022 12:40:57 PM EDT
[#42]
My ex has 12,000 on her credit card and just ordered cable TV at 180 a month
She makes about 500 a week take home Has a 640 lot rent on her trailer Prenups and her relationship with the guy she worked with that got fired because he was drunk on the job has consequences. |
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Posted: 8/3/2022 12:44:26 PM EDT
[#43]
We know.
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Posted: 8/3/2022 12:44:51 PM EDT
[#44]
Cars cost more and so do homes. Of course debt is going up.
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Posted: 8/3/2022 12:46:02 PM EDT
[#45]
I owe less than ever before.
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Posted: 8/3/2022 12:48:08 PM EDT
[#46]
Quote HistoryQuoted: Cars cost more and so do homes. Of course debt is going up. This. DUH. Notice this increased debt tracks nicely with inflation. |
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Posted: 8/3/2022 1:00:21 PM EDT
[#47]
Is household debt increasing faster than inflation though?
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Posted: 8/3/2022 1:03:54 PM EDT
[#48]
Quote HistoryQuoted: Is household debt increasing faster than inflation though? No. Just slightly under official inflation numbers. Which everyone argued is low. |
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Posted: 8/3/2022 1:04:34 PM EDT
[#49]
Quote HistoryQuoted: Is household debt increasing faster than inflation though? Seems to be filling very close. Also last sentance in article is deliquincey is down. Article is nothing more than the usual doomer porn. |
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Posted: 8/3/2022 1:18:07 PM EDT
[#50]
Quote HistoryQuoted: I been saying that for a while. Most people have to be drowning in debt. I am poor for GD but make ok money and I can’t seem to afford shit like people that make less then me. Everyone is always getting new cars, huge home repairs, & vacations. You haven't the slightest clue what people have even if you know what they do or what their salary is. People have investments, inheritances, financial gifts, maybe even a wild lottery win here and there and generally speaking they don't keep their neighbors and coworkers up to speed on those details. I'm 100% confident that my friends and neighbors couldn't possibly guess my financial situation in a million years. I live in a neighborhood that looks nothing like my means and I know a few other people for whom the same could be said. |
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