Universal Basic Income

[skyfall123]

Yeah, but it got off topic. LOL

Yeah I was surprised you didn't ask the following in response to

In my 20's I paid an atrocious amount of income tax up to $60,000 annually not to mention the $15,000 that I sent to medicare and social security.

If you truly paid $60,000 in income tax in a year you would have had to declare a net income(after deductions) of at least $228,204 based on 2012 tax rates...which means your gross would have been significantly more. Then there is the matter of owning the "S Corp". Any accountant worth their salt would have at the minimum recommended that you establish a solo401K which would allow you to defer a minimum of $18K through employee salary deferral and contribute up to 25% of your income as an employer contribution up to a max of around $49K. That $49K would have come off your income before taxes. So now your are up to having an income of close to $300,000 per year as a twenty something.You also say you contributed $15,000 in SS and medicare tax a year. In order to claim that you would have had to declare a salary minimum of $120,000 or more a year since the employee portion of that would max out around $7500 (payroll deductions for SS and medicare cease over $120,000) , so I assume in order to get to the $15,000 per year you claim to have paid, you are counting $7500 as the SS and Medicare taxes you would have paid as owner of the "S Corp" and the other $7500 as employee of the "S Corp". Again you would have netted a significant amount over the $120,000 per year in your twenties. So the question becomes what happened that you were making so much money and paying so much in taxes (as you claim) making between (conservatively according to your numbers) $150,000K to $300,000K + per year in your twenties to now clearing just a hair over $100,00 now (as you claim). What went wrong?
The second question would be "Are you a slumlord?" as defined and discussed by this group of your peers https://www.biggerpockets.com/renewsblog...-slumlord/