Listening
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- Aug 27, 2011
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to their local bank savings account? Or to be allowed to accumulate over 35 years to $300,000?
Almost anyone with financial acumen know that if a person is allowed to accumulate their Social security deductions at a modest 3% tax sheltered for 35 years would amass over $300,000. (See this simple savings calculator
Simple savings calculator -- Bankrate.com
Now if this same person directed the monthly payments of $400 deducted automatically each month for 35 years into vehicles accumulating at the average of 6%.. almost $600,000!
Again this would be CONTRARY to DEMOCRATS NOT invested in the "stock market" unless directed! NOT go in affect for anyone over 55. NOT go into affect if the person chooses NOT to be self directed.
But of course the DEMOCRATS aren't telling people that!
All the plans of knowledgeable financially aware people is that if left alone and saving at the rate of simple compound interest at 3% to 6% the INDIVIDUAL can have their OWN estate of at least $300,000 to as much as possible without the Government having to pay a dime!
NO money out by the government for these accounts directed by the employee!
An honest question.
That will not see and true consideration from the left.
Many who are not conservative who advocate for reform suggest a number of things.
First, that it is your money. You get an account and what you put in has your name on it. Move away from Paygo.
Next, you can stay with the government and in fact, you will for a base amount. No Wall Street. But you get to see the performance of your savings.
Finally, when you go, that money advances to your heirs and when they reach a certain level...they no longer need pay in.
But, the left will never let go of their mindless, pant wetting point of view that it is all about privatization so Wall Street can get rich.
Morons.