Say goodbye to your 401k

:lol: you sound like a defense attorney!

I like the facts myself....

Okay, we'll deal in facts. The elements of this proposal originated from a plan written by a an economic policy professor. It has gained traction and is being considered by George Miller and Jim McDermott. Both Democrats and both have commitee chairs. Jim McDermott is Chairman of the House Ways and Means sub-commitee Income Security and Family Support. Guess what "Income Security" means. This proposal is real. It is leftist and all of these facts can be accessed here:

House Democrats Contemplate Abolishing 401(k) Tax Breaks | workforce.com
 
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You all are taking a highly slanted article for gospel. There's no doubt that people are worried about 401k plans. There's no doubt that Congress is thinking of doing something to alleviate the problems with fractious markets. This is only one suggestion that was made at the the hearing...and why we aren't hearing of the others is a mystery.

It's kind of a shame that people no longer seem to get company pensions.
 
Okay, we'll deal in facts. This elements of this proposal originated from a plan written by a an economic policy professor. It has gained traction and is being considered by George Miller and Jim McDermott. Both Democrats and both have commitee chairs. Jim McDermott is Chairman of the House Ways and Means sub-commitee Income Security and Family Support. Guess what "Income Security" means. This proposal is real. It is leftist and all of these facts can be accessed here:

House Democrats Contemplate Abolishing 401(k) Tax Breaks | workforce.com

okay...

but it's still just a proposal right now, right? why all the gnashing of teeth and wringing of hands over something that isn't even on the docket of the Senate to be heard yet?

Ya'll have Obama approving it before a) he's even elected and b) before it's even come before Congress as an actual bill :lol:
 
I think it's safe to say that Obama will be nothing more then a rubber stamp for Pelosi and Reid
 
SS will be vapor by the time i get to collect it, IMO.
and i'm prolly older than you :eek:

Bush assured it won't be there. It was always his goal to do away with SS. So it seems he bankrupted the treasury so he could push that agenda.

Sorta like spreading our troops thin so he could outsource to Blackwater.

Did you hear the IRS outsourced collections? The company they hired cost more than they collected.

Some things should not be privatized.
 
Bush assured it won't be there. It was always his goal to do away with SS. So it seems he bankrupted the treasury so he could push that agenda.

Sorta like spreading our troops thin so he could outsource to Blackwater.

Did you hear the IRS outsourced collections? The company they hired cost more than they collected.

Some things should not be privatized.
del says "Did you hear the IRS outsourced collections? The company they hired cost more than they collected. "


hey del....care to source this????
 
okay...

but it's still just a proposal right now, right? why all the gnashing of teeth and wringing of hands over something that isn't even on the docket of the Senate to be heard yet?

Ya'll have Obama approving it before a) he's even elected and b) before it's even come before Congress as an actual bill :lol:

Proposals have a way of becoming bills. With the Senate and the House likely to become veto proof, even mere proposals need to be checked. Obama really isn't the issue on this yet and I don't blame him for it. However, do you really see him vetoing a bill that would do this? I don't.
 
How about this plan the lefties are floating around to do away with 401 k's, mandate a 5% contribution to a "new" plan administered by the SSA with a guaranteed 3% return. There would be no benefit for employers to do any matching. Watch out for the Obama, Reed Palosi trifecta.

Fuck that. I'm still for Bush's SS plan. Let me invest my own damned money. I can get a better return on it than the SS Admin is going to give me.
 
Fuck that. I'm still for Bush's SS plan. Let me invest my own damned money. I can get a better return on it than the SS Admin is going to give me.

i used to agree with you....so did alot of other people in the market with their retirement 401k's, who lost 43% of their entire lives retirement savings in just 2 weeks- worth $2 TRILLION in losses....while the gvt takes another $700 billion from us to bail out the banks and financial institutions without thought....paying ceo's and execs of the poorly and negligently run companies BILLIONS in bonuses..... We've been screwed from the front and back on this one!

I don't know what i believe anymore when it comes to this....seems that no matter what we do to try to save for ourselves, we're doomed...unless we put it all in safe CD's earning about 2% interest...at one point only 1.75% interest on some of our cd's which does not even keep up with inflation.

My parents actually became millionaires when they put their money in CD.s in the beginning of the 80's thru the early 90's earning about 8% interest on them....Our fed is playing games with our money, keeping interest rates too low for the banks which doesn't give us an opportunity to save and actually earn an interest rate that is above the cost of living hikes...

as i have said, i am open to hearing and analyzing all proposals that come forth....including yours....NONE of them, will help or be any safer or better than what we have available now....more than likely.... :(

Care
 
Fuck that. I'm still for Bush's SS plan. Let me invest my own damned money. I can get a better return on it than the SS Admin is going to give me.

also, wasn't bush's plan to put only 10% of your social security in to the stock market?
 
The wacko right wingnuts must all be rich or they are corporate stooges as they sure as hell can't think through anything that involves making life good for our country's citizens. All help gets a label, usually negative and usually supporting the wealthy. What an odd value system 40 years of conservative thought has created! And you even see it in the conservative religious? Jesus wouldn't know his folk today, he'd probably move to Europe.

401k's had one impact that few anticipated, it removed the pension from corporate Annual reports. The time after the GD and WWII when all people were in it together started to fall apart with Goldwater/Reagan and today it is every woman for herself. But you see the impact and the ads on bankruptcy and families were mom and dad have to work. Curious the wingnut family supporters don't want a fair wage that supports the family.


"This is the Bush-McCain economy. Senator McCain may have forgotten, but President Bush already tried his economic policies and the results are not good. We have just been through a business cycle in which the wage of the typical worker and the typical working family fell. This is the first time that has ever happened."

The Whiner's Recession | CommonDreams.org
The Conservative Nanny State
CEPR - America Since 1980: A Right Turn Leading to a Dead End

SS wins
One man's retirement math: Social Security wins | csmonitor.com
>
 
Here's the thing nobody ever seems to understand about EVERY RETIREMENT SCHEME, public or private.

They ALL depend on workers in the future creating enough REAL wealth such that those with cash can buy stuff of intrinsic value.

This is too complex for most people to understand because most people still think CASH (or even gold) is the same as things with real intrinsic value.

The only things of intinsic value to human being are food shelter and clothing. In other words any good or service which we depend on to live.

Everything else (cash, bonds, digital notations in a computer) are accounting tools, at best.

Many people's pensions fund are crashing because there are not enough NEW workers to keep the system going, folks.

Hell, our economy is crashing because we have deindustrialized our society so not enough workers are making money to keep the pensions solvent.

All you hard headed (there's no free lunch) neo cons, libertarians and conservatives still don't get that?

It's baffling how so many people confuse money 9or gold) with something of real value.

If we'd all saved all our money for our retirements and were all theoretically rich, we'd STILL be competing to purchase whatever goods and services the current working classes will be producing during our retirement years, folks.

So if those workers in the future aren't producing enough good and services for we retirees to purchase, then all our so-called wealth will be nothing but the fuel for future inflation of the cost of goods and services.

If a future apple costs $50 it is still ONLY an apple.

What really changed? The apple or the so called cash?
 
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Fuck that. I'm still for Bush's SS plan. Let me invest my own damned money. I can get a better return on it than the SS Admin is going to give me.

Are you kidding me?!! Had this happened, you wouldn't have any money. The Bush-MCCain plan to privatize social security was to do so by linking it to stock purchases. My God, you would be BROKE! I can only imagine the uproar.
 

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