A letter of thanks from the US government, such as it is
Here's the letter of thanks I received, in my mind, from Scott Bessent and Trump today:
Dear David—
We want to thank you for investing so heavily, from your income taxes and social security payments, in the United States of America.
We'd particularly like to thank you for paying 100% of the maximum social security taxes every year for 42 straight years. That's amazing, David!
You even waited until the deadline to request benefits at age 70, saving us those costs for the first 11 years of your eligibility .
As a result of being a generous investor, you are now receiving the highest monthly social security payment available—slightly less than $5300 a month.
Never mind that this top dollar amount would leave you and your family near the poverty line if this was your only income. Imagine everyone else who receives, on average, $1500 a month. Do those people eat? Probably not!
Never mind that you're paying income taxes on this benefit at the 37% rate. Let's say $2200 in taxes a month to California, and the IRS primarily. Leaving the top SS benefit at an effective rate of $3000 a month.
And never mind that you're still working at age 71 so you'll pay in more this year than the $60k we're wiring you in 12 installments. You're "money in the bank" from our point of view!
Please accept our thanks, David. You've been a model citizen as far as we're concerned. Please die soon!
Love, Scott and Don.
Dear David—
We want to thank you for investing so heavily, from your income taxes and social security payments, in the United States of America.
We'd particularly like to thank you for paying 100% of the maximum social security taxes every year for 42 straight years. That's amazing, David!
You even waited until the deadline to request benefits at age 70, saving us those costs for the first 11 years of your eligibility .
As a result of being a generous investor, you are now receiving the highest monthly social security payment available—slightly less than $5300 a month.
Never mind that this top dollar amount would leave you and your family near the poverty line if this was your only income. Imagine everyone else who receives, on average, $1500 a month. Do those people eat? Probably not!
Never mind that you're paying income taxes on this benefit at the 37% rate. Let's say $2200 in taxes a month to California, and the IRS primarily. Leaving the top SS benefit at an effective rate of $3000 a month.
And never mind that you're still working at age 71 so you'll pay in more this year than the $60k we're wiring you in 12 installments. You're "money in the bank" from our point of view!
Please accept our thanks, David. You've been a model citizen as far as we're concerned. Please die soon!
Love, Scott and Don.
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