Taxation in America

[jc456]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

my 401ks and IRA's did just fine. you haven't a clue what a 401k is or even an IRA. too fking funny. Another no nothing posting stupid you are. And, you have no idea what a pension is.

Why don't you "edumakate" all of us on 401k's and IRA's. I can't wait for this one!

that's not my job. that's your job. You have access to the internet, go read up on their advantages.

So you haven't a clue.

Sure I do, it's you that's obvious that doesn't. you're asking me when you have the internet at your fingers. that makes you an idiot.

 

[kyzr]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

Nope. 401Ks do not. They are yours no matter what. They only run out if you do not budget well, or if you didn't work long enough to get a good nest-egg. If you combine SS and small IRA withdrawals you should have enough to retire comfortably. The average IRA is about $250,000
https://money.usnews.com/money/reti...rement-account-balance-compares-to-your-peers

 

[Ray From Cleveland]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Pensions are a thing of the past. What companies used to do is fire or layoff the worker right before they had enough time in to collect the pension. I seen that at a company I once worked for. People spend their entire life at a place doing a good job, and because they had a pension with the company from many years ago, they lose their job.

That's why Unions are so important.

If they had a union, they probably would have had to close down due to foreign competition. That's why unions can't survive in today's America.

 

[colfax_m]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

Nope. 401Ks do not. They are yours no matter what. They only run out if you do not budget well, or if you didn't work long enough to get a good nest-egg. If you combine SS and small IRA withdrawals you should have enough to retire comfortably. The average IRA is about $250,000
https://money.usnews.com/money/reti...rement-account-balance-compares-to-your-peers

They sure do run out. It’s not always a matter of “budgeting”. Life throws complications at you. Unexpected illnesses, deaths. Market crashes. Lots of things can happen.

Social security is basically a pension

 

[jc456]

Exactly. The crap hits the impellers and the DC crooks all retire.

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

 

[jc456]

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

my 401ks and IRA's did just fine. you haven't a clue what a 401k is or even an IRA. too fking funny. Another no nothing posting stupid you are. And, you have no idea what a pension is.

Same here, our IRA survived and did very well during the recession. In fact, the recession greatly helped it. What the market is doing is irrelevant until you're ready to start collecting.

In 2008, your IRA had a median return of -30%. And it's happening yet again.

link! I made 8%

Big Retirement Losses If The Market Crashes Tomorrow

 

[jc456]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

Nope. 401Ks do not. They are yours no matter what. They only run out if you do not budget well, or if you didn't work long enough to get a good nest-egg. If you combine SS and small IRA withdrawals you should have enough to retire comfortably. The average IRA is about $250,000
https://money.usnews.com/money/reti...rement-account-balance-compares-to-your-peers

They sure do run out. It’s not always a matter of “budgeting”. Life throws complications at you. Unexpected illnesses, deaths. Market crashes. Lots of things can happen.

Social security is basically a pension

it's a ponzi scheme.

 

[colfax_m]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

 

[jc456]

the Chicago Chief of Police was fired, his pension will pay him 187k for the rest of his life. 100 times more money than he put in. dude, stop with the stupid.

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Pensions are a thing of the past. What companies used to do is fire or layoff the worker right before they had enough time in to collect the pension. I seen that at a company I once worked for. People spend their entire life at a place doing a good job, and because they had a pension with the company from many years ago, they lose their job.

That's why Unions are so important.

If they had a union, they probably would have had to close down due to foreign competition. That's why unions can't survive in today's America.

and their pensions dried up! ask the state of Illinois

 

[jc456]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

 

[colfax_m]

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

Nope. 401Ks do not. They are yours no matter what. They only run out if you do not budget well, or if you didn't work long enough to get a good nest-egg. If you combine SS and small IRA withdrawals you should have enough to retire comfortably. The average IRA is about $250,000
https://money.usnews.com/money/reti...rement-account-balance-compares-to-your-peers

They sure do run out. It’s not always a matter of “budgeting”. Life throws complications at you. Unexpected illnesses, deaths. Market crashes. Lots of things can happen.

Social security is basically a pension

it's a ponzi scheme.

Only if you have no idea what you’re talking about.

 

[colfax_m]

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

 

[jc456]

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

cause you think pensions are self sufficient.

 

[colfax_m]

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

cause you think pensions are self sufficient.

I never said that. This is why it’s hard to talk with you. You just make things up.

I’m done.

 

[jc456]

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

cause you think pensions are self sufficient.

I never said that. This is why it’s hard to talk with you. You just make things up.

I’m done.

that's exactly what you said.

 

[jc456]

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

cause you think pensions are self sufficient.

I never said that. This is why it’s hard to talk with you. You just make things up.

I’m done.

What’s driving Illinois’ $111 billion pension crisis | Illinois Policy

Here since you're too fking lazy to look it up. I'll waste my time.

 

[jc456]

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

What’s driving Illinois’ $111 billion pension crisis | Illinois Policy

 

[jc456]

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

and you said that out loud. Pensions are the reason why we have chaos in the state of illinois, I wish idiots like you understood dollar in dollar out theory. If you put in 500k and you withdrew 1 Million, your pension lost 500k. where does that extra 500k money come from?

I wish idiots like you would admit you don’t know what you’re talking about instead of spouting off gibberish.

There’s nothing wrong with what I said. Pensions can be budgeted for, but government and companies are often too greedy or lazy to make it work.

look up pensions and the state of illinois. then explain yourself again.

Why should I?

Does Your State Have A Pension Problem? - WSJ.com

 

[kyzr]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

Companies and more importantly local governments cannot budget for "defined benefit pensions". Early posts on this thread showed examples of corruption where government workers got exorbitant pensions and then the government goes bankrupt hurting everyone.
401Ks are much simpler.
The employer and employees contribute about 6%, it grows over time and gets rolled into an IRA when at retirement.
Its better than a pension from a bankrupt employer.

Sure, companies and government can budget for them. They just don’t want to.

The problem with IRAs and 401ks is that they run out.

Nope. 401Ks do not. They are yours no matter what. They only run out if you do not budget well, or if you didn't work long enough to get a good nest-egg. If you combine SS and small IRA withdrawals you should have enough to retire comfortably. The average IRA is about $250,000
https://money.usnews.com/money/reti...rement-account-balance-compares-to-your-peers

They sure do run out. It’s not always a matter of “budgeting”. Life throws complications at you. Unexpected illnesses, deaths. Market crashes. Lots of things can happen.

Social security is basically a pension

So unless you're Mike Bloomberg, what do you do without SS & 401Ks?
There is no Secret Santa.
Tell me there is an "insurance" policy we can buy to cover "Life's Complications"?

 

[OnePercenter]

Who gave the city retirees such outrageous pensions?
We need a federal law that limits pensions to a multiple of their salary.
Better yet, eliminate "defined benefit" pensions and only allow 401Ks, so there are no future payments.

Why shouldn't American Workers have good pensions?

Only allow 401k's? How did your 401k do over the past two days?

my 401ks and IRA's did just fine. you haven't a clue what a 401k is or even an IRA. too fking funny. Another no nothing posting stupid you are. And, you have no idea what a pension is.

Same here, our IRA survived and did very well during the recession. In fact, the recession greatly helped it. What the market is doing is irrelevant until you're ready to start collecting.

In 2008, your IRA had a median return of -30%. And it's happening yet again.

Yes it did. Our investment company took contributions, but didn't put it in the market. They waited until signals showed growth again. It was great. It was buying ten shares for the price of three. Thanks to that, my IRA is in pretty good shape now.

The DOW is down another 1,190.95 today. I hope you have a back-up plan.