I started to write about the Yale University hunger strike that is going on. Doctoral students are “symbolically” holding a hunger strike demanding the university pay more than the $30,000 a year stipend, full medical coverage, and $40,000 in tuition. $80,000 per year just doesn’t go as far as it used to for one individual.
Oh, and the “symbolic” part, is that the snowflakes leave their sit-in to get pizza and burgers if they get hungry during the hunger strike. One student commented that it’s “still inspirational” even if they eat during the hunger strike.
The $80,000 per year number sent me down the trail to see just what the poverty level is in the United States and at what level does a citizen receive Obamacare subsidies.
From the ACA (Obamacare) website, a family of EIGHT is considered at the poverty level if their income is $40,890. HALF of what a Yale doc is GIVEN. For an individual, the poverty line is $11,880 or 7 times less than what the POOR Yale graduate student is compensated.
Life is hard…
The reason I mentioned at the beginning of this musing that I “started” to write about the poor snowflakes, is that while researching about the poverty level I tumbled across a financial “advice” website that had recommendations to reduce a person’s Adjusted Gross Income to maximize their Obamacare subsidies.
The website had these “tips” for HIGH INCOME EARNERS to reduce their AGI and maximize how much money the government (fellow tax payers who actually pay taxes) gives to them.
Contribute $18,000 to your 401K and $5,500 to your IRA to remove $23,500 from your income level. This is good advice for anyone.
Have and S-Corporation or LLC to write off all your business expenses. The financial advice about S-Corps is to structure them to provide NO OR LITTLE PERSONAL TAXABLE INCOME.
Own rental property and deduct all the expenses of managing the properties, as well as the depreciation to reduce or eliminate any income tax.
But here’s the best advice.,,
The website points out that if you have your rental property in say BORA BORA, you are allowed to deduct TRAVEL EXPENSES to check on your property there. A business class round trip ticket from Los Angeles to Bora Bora is only $6,168. Do that once a quarter and you get an additional $24,672 in deductions. Of course you’ll need to stay at an over the water bungalow at $2000 per night while your checking on your multi-million dollar rental investment.
And the Progre-sissies who whine about income inequality want to KEEP Obamacare as the law of the land.
As I said in the title “What a great country!“.