So They Want to Fix Wealth Inequality

[Old Man Grumbles]

The country could take a major step toward reducing wealth inequality, not by raising taxes but by letting workers save the taxes they are already paying. Yet Democrats have long opposed this option.

Listening to the Democratic presidential candidates, you don’t have to wait very long before they turn to the issue of wealth inequality. For example, Sen. Bernie Sanders (I-Vt.) claimed in the last debate, “we cannot afford to continue this level of income and wealth inequality.”

Note that Sanders cites both wealth and income inequality. The terms are often used interchangeably, but income (the money a person makes) and wealth (the total value of one’s assets) aren’t the same.

An easy way to reduce wealth inequality — but Democrats won't like it

The above opinion piece will explain what should have been done with Social Security taxes from the day FDR instituted the program.

 

[Wyatt earp]

600,000 dollars???


Jesus christ over a half a million dollars, I will never see.



From your link..

In their 2018 update of “Social Security and Medicare Lifetime Benefits and Taxes,” the authors state that a two-earner family retiring in 2020, who earned the average income over their lifetimes, will have paid into Social Security about $600,000.

 

[Old Man Grumbles]

600,000 dollars???


Jesus christ over a half a million dollars, I will never see.



From your link..

In their 2018 update of “Social Security and Medicare Lifetime Benefits and Taxes,” the authors state that a two-earner family retiring in 2020, who earned the average income over their lifetimes, will have paid into Social Security about $600,000.

And that's not counting this bit:

And, of course, this personal retirement account would be separate from, and in addition to, an employer-provided 401(k) account, pension plan or a personal IRA.

 

[Norman]

I agree we can not afford the wealth inequality. Bernie Sander's fifth vacation home should be redistributed to the people immediately, and maybe even the 3rd and fourth as well.

 

[Old Man Grumbles]

It always amazes me how the lefty rich tell us how they'll redistribute wealth, but not a damn one tells us how much $$$ will be put in OUR pocket. They just talk about the government collecting these "taxes" - and we know how far to trust the government when they find another way to impoverish some or all of the citizenry.

 

[Norman]

It always amazes me how the lefty rich tell us how they'll redistribute wealth, but not a damn one tells us how much $$$ will be put in OUR pocket. They just talk about the government collecting these "taxes" - and we know how far to trust the government when they find another way to impoverish some or all of the citizenry.

I can answer you that question.

It is all about redistributing from the people they hate... Americans... to the people they love... criminals, illegals, moochers and Democrat politicians. By this realization, it is easy to calculate the expected costs and earnings.

 

[Pete7469]

What leftists really want to do is make it impossible for people to increase their standard of living. They want to make sure their wealth is protected by government and ensure no one else can be elevated to their status and compromise their grip on power.

This is exactly what Trump has done, and that is why they've got their mindless lemmings seething with rage.

 

[JoeMoma]

Socialism, socialism, socialism........ The dems want socialism.

 

[impuretrash]

They talk a lot about wealth inequality but they never admit that a lack of ambition or crappy work ethnic is to blame for most of it.

 

[Rocko]

Putting social security in the stock market is no sure thing. Historically we’ve had bear markets that have lasted decades.

The problem with democrats is they’re always looking at the success of the wealthy and using that to explain the lack of success of others. To them wealth is a zero sum game, and that’s the fundamental problem with their thinking.

 

[Old Man Grumbles]

Those youthful Democrats who want Socialism have very little idea, if any, what they're asking for. The sad thing is I think my youngest son is of that ilk.

 

[Old Man Grumbles]

Yes Rocko, that's true. But that's a risk I'd take over letting the government have it. As it is Social Security is nothing more than a Congress supported and run ponzi scheme.

 

[Rocko]

They talk a lot about wealth inequality but they never admit that a lack of ambition or crappy work ethnic is to blame for most of it.

They are in a sense Marxist conspiracy theorists who believe the wealthy get their riches through exploitation of poor labor workers.

 

[Norman]

Putting social security in the stock market is no sure thing. Historically we’ve had bear markets that have lasted decades.

The problem with democrats is they’re always looking at the success of the wealthy and using that to explain the lack of success of others. To them wealth is a zero sum game, and that’s the fundamental problem with their thinking.

And relying on a Ponzi scheme is a sure thing?

 

[Rocko]

Yes Rocko, that's true. But that's a risk I'd take over letting the government have it. As it is Social Security is nothing more than a Congress supported and run ponzi scheme.

I agree that social security is a Ponzi scheme. It’s a complex issue though. Reason being is we could just allow people to plan for their own retirement and tax them less. However we’ve become culturally dependent on SS because of our borrowing and spending habits, so a lot of people will fail without some type of system in place to help them with their retirement needs. I know it’s not the best system, and I worry the system will collapse, but I don’t believe forcing people to invest is shrewd as well.

 

[Rocko]

Putting social security in the stock market is no sure thing. Historically we’ve had bear markets that have lasted decades.

The problem with democrats is they’re always looking at the success of the wealthy and using that to explain the lack of success of others. To them wealth is a zero sum game, and that’s the fundamental problem with their thinking.

And relying on a Ponzi scheme is a sure thing?

it’s sure to collapse. Forcing people into the market is not the answer though.

 

[Old Man Grumbles]

Yes Rocko, that's true. But that's a risk I'd take over letting the government have it. As it is Social Security is nothing more than a Congress supported and run ponzi scheme.

I agree that social security is a Ponzi scheme. It’s a complex issue though. Reason being is we could just allow people to plan for their own retirement and tax them less. However we’ve become culturally dependent on SS because of our borrowing and spending habits, so a lot of people will fail without some type of system in place to help them with their retirement needs. I know it’s not the best system, and I worry the system will collapse, but I don’t believe forcing people to invest is shrewd as well.

I don't care how people choose to invest their money. Heck, they can stick in a savings account for all I care. The important aspect is that it would be their decision, not Congresses.