Republicans offer fraudulent tax reform, the alleged FairTax

[Cellblock2429]

And yet even though you admit that the stock market is gambling… you thing we should put our retirement there.

Brilliant

/——/ Here is the S&P 500 since 1984. Now compare that to the 2% return on SS money. You do the math.

 

[Oddball]

You mean Social Security...which has been providing retirement for hundreds of millions of Americans for almost 100 years?

Some gamble

It has a shittier return than regular bank savings account interest, rube.

 

[Lesh]

It has a shittier return than regular bank interest, rube.

It's guaranteed and it works

 

[Lesh]

/——/ Here is the S&P 500 since 1984. You do the math.
View attachment 749926

Retire without Social Security just before or during one of those downturns and you're well and surely fucked

 

[Cellblock2429]

Retire without Social Security just before or during one of those downturns and you're well and surely fucked

/——/,uhhhh no. Look at the over all return over a life time of work. And it always rebounded.

 

[Lesh]

/——/,uhhhh no. Look at the over all return over a life time of work. And it always rebounded.

Which doesn't do much good if you retire and the stock market takes a dump

 

[Cellblock2429]

Which doesn't do much good if you retire and the stock market takes a dump

/——/. When you retire, you don’t take the money as a lump some, it keeps growing the base. Understand compound interest and dividends much?

 

[Lesh]

/——/. When you retire, you don’t take the money as a lump some, it keeps growing the base. Understand compound interest and dividends much?

What I understand is that every penny you take out is severely discounted by that stock market dump and will never be available to recoup.

 

[Cellblock2429]

What I understand is that every penny you take can is severely discounted by that stock market dump and will never be available to recoup.

/——/ The 40 year chart confuses you. OK, keep your money in a 2% passbook.

 

[Lesh]

/——/ The 40 year chart confuses you. OK, keep your money in a 2% passbook.

You seem very confused about retirement

 

[Ray From Cleveland]

What I understand is that every penny you take out is severely discounted by that stock market dump and will never be available to recoup.

The market always recovers; maybe not overnight, but always does.

The people who are hurting today are those that are retired or soon to retire.

 

[Lesh]

The market always recovers; maybe not overnight, but always does.

The people who are hurting today are those that are retired or soon to retire.

And if you retire you don’t have ten years to wait for it to recover. You’re drawing down on money that has lost as much as half its value

 

[Ray From Cleveland]

Which doesn't do much good if you retire and the stock market takes a dump

Without considerable growth the money you save for retirement would not only be taxed in a savings account, but wouldn't last you very long after you retire unless you die shortly after. Invested and proper planning, that money could last you the rest of your life. That's why you invest it instead of letting it sit around.

 

[Lesh]

Without considerable growth the money you save for retirement would not only be taxed in a savings account, but wouldn't last you very long after you retire unless you die shortly after. Invested and proper planning, that money could last you the rest of your life. That's why you invest it instead of letting it sit around.

And what happens when the market takes a dump?

 

[Ray From Cleveland]

And if you retire you don’t have ten years to wait for it to recover. You’re drawing down on money that has lost as much as half its value

It wouldn't take ten years to recover. All we have to do is get rid of this moron in the White House and the recovery will start soon afterwards which is only two years. But it may not even take that long.

 

[Ray From Cleveland]

And what happens when the market takes a dump?

Not likely but even if it does, that's the risk of investing. You won't lose everything you put in. Yes, I lost a couple thousand bucks, but hopefully will live long enough for that to come back and more.

 

[Ray From Cleveland]

Republican Congress critters want to increase Congress' taxing powers.​

.
This seems to confirm our Republican Congress and Freedom Caucus members are very much part of the Washington Establishment’s never-ending push to enlarge and consolidate power in their hands.

See: Is GOP Freedom Caucus Pushing for a 30% Sales Tax in US?

My pet question goes unanswered:

Why on earth would any freedom loving, Republican member of Congress, support the rope-a-dope FairTax Act proposal which, if adopted, enlarges and strengthens the federal government’s iron fisted taxing grip around the American people’s necks?

Why on earth do they not support and work to adopt the FAIR SHARE BALANCED BUDGET AMENDMENT which begins as follows?

“SECTION 1. The Sixteenth Amendment is hereby repealed, and Congress is henceforth forbidden to lay any tax or burden calculated from sales, profits, gains, interest, salaries, wages, tips, inheritances or any other lawfully realized money.

JWK

When Federal Reserve Notes were made a legal tender in violation of our Constitution, and a direct un-apportioned tax was imposed upon the people without their consent, America’s free enterprise, free market system was subjugated, and the tools of oppression were made available to some very immoral and nefariously evil people.

Because in this day and age you will never see a constitutional amendment in your lifetime and beyond. As we become more divided there won't be compromise on very much anymore.

 

[Cellblock2429]

You seem very confused about retirement

/——/ I’m 71 and retired 7 years, living on option trading, real estate gains, SS, book royalties and a small pension. What am I confused by?

 

[Ray From Cleveland]

With no changes SS funds 80% of existing obligations.

Lifting the payroll cap funds it FOREVER

Lifting the cap only puts the burden on the rich to save the program. That's not the solution, that's theft.

If we want SS, then it has to be funded simple as that. That means raising payroll deductions considerably. If we lift the ceiling, then it's only fair to lift how much the wealthy collect off the program like anybody else. That of course would be a net zero gain.

 

[Lesh]

Not likely but even if it does, that's the risk of investing. You won't lose everything you put in. Yes, I lost a couple thousand bucks, but hopefully will live long enough for that to come back and more.

Not likely?

In 2008 the market lost HALF it's value.

It's currently in a slump. How many examples do you need

If you lost a couple thousand...you had little invested