This is really sad to read this stuff when you consider the government steals so much out of your paycheck weekly with the promise, "We'll take care of you with a monthly check when you retire". Just think of what the seniors would have if instead of the government stealing that money and putting it into a pool btw without your name on it. Then think of this, if only $1000 is deposited into a retirement account every year since birth, you would have well over 1 million at age 65.
Consider: Less than one-quarter of workers age 55 and older -- just 23% -- have savings and investments totaling $250,000 or more, according to a study published in April by the Employee Benefit Research Institute in Washington. About 60% have less than $100,000.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Youcan talk about the elimination ofsocial security until the cows come home but that idea is going nowhere. There was nothing wrong with social security until the pukes in DC decided to tapthatsocial security cashcowto financetheir pork barrel projects.
Once again falcon, it has always been set up that way. Where else was the money going to be parked but in the government? Did you really want some pencil neck in DC deciding what sector of the market he was going to put billions of dollars in or which sector he was going to yank billions out of? I'm aware that that the stealing of my money will continue. I'm also aware of the fact the Obama want's to remove the cap that I enjoy and look forward to every spring as the day I get to keep my money. I'm also very much aware that while you get to enjoy that check every month and donate to the charity of your choice, I won't see a dime from SS when I retire along with quite a few on this board.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
I won't see a dime from SS when I retire along with quite a few on this board.
Neither will my son and daughter.It did not have to be this way. Congress could have set up a system where the federal governmentloaned the money to itself at the federalbond rate. During the stagflation of the late 70s-early 80s the federal bondrate was sky high due too inflation, as high as 20%. The stolen SS surpluswas drawing around 2%. Much of the SS trust fund was lost to inflation.
Obama woulddo some idiotic make the poor feel good stuff to punish those who have worked hard and done well.
Well instead of waiting for the pending train wreck, it would be nice to act now. However, government being government will wait until the very last minute when their hand is forced to make a decision.Since Obama is going to demand congress remove the cap, then lets remove the 401K cap they have in place. What is it 15k or going to that level? Let's make it unlimited.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: The case against SS
Quote:
ORIGINAL: Fieldmouse
Well instead of waiting for the pending train wreck, it would be nice to act now. However, government being government will wait until the very last minute when their hand is forced to make a decision.Since Obama is going to demand congress remove the cap, then lets remove the 401K cap they have in place. What is it 15k or going to that level? Let's make it unlimited.
They will never allow it to be unlimited because the governemt wouldn't get the taxes on all that money. Someone making 200K a year could live on the first 100K, keep themselves in a low tax bracketand put the rest into a 401K pre tax and save paying taxes on it until retirement when they take some out.
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Too busy with fishing to spend much time here.
While I agree that social security is hardly a good investment, I find it ironic that you post both an article and a direct quote both of which essentially underscore the need for a subsistence plan.
Additionally, your argument, while fundamentally sound (quite accidentally no doubt), fails to even address the non-retirement benefits of social security, such as survivor benefits and disability provisions.
As always, you're essentially lost and staggering around without a clear outline of an opinion provide by some other source.
While I agree that social security is hardly a good investment, I find it ironic that you post both an article and a direct quote both of which essentially underscore the need for a subsistence plan.
Perhaps you need to reread the thread. If the Government insist on forcing folks to save for retirement (not in the constitution) then make it a private account.
Quote:
Additionally, your argument, while fundamentally sound (quite accidentally no doubt), fails to even address the non-retirement benefits of social security, such as survivor benefits and disability provisions.
How so? Throw them out there and lets discuss them. While you do that please provide and percentages and age groups of those affected.
Quote:
As always, you're essentially lost and staggering around without a clear outline of an opinion provide by some other source.
Yeah comming from a man who is consistantlyshort on any facts, any outline, any information and any posistion!
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
then lets remove the 401K cap they have in place. What is it 15k or going to that level? Let's make it unlimited.
Great idea. Remove the IRA cap also.
I absolutely agree and I'm sorry for not mentioning the IRA as well.
CI, you are correct about the taxes. The Dems don't understand the investments that would follow and the inovation with job creation. It makes your head spin.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
The case against SS
As always, you're essentially lost and staggering around without a clear outline of an opinion provide by some other source.
