Britain on hard times
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Very likely since the government is doing the exact same things that worsened the Great Depression in 30's.
What would happend to 401K/403B's if the gov't took them over??
Originally Posted By: ToyotaNSaturn
What would happend to 401K/403B's if the gov't took them over??
The money would be pooled together and handed out evenly amongst the sheep.
SURE GLAD I saved 20-25% of my income for the past 12 years...............
What would happend to 401K/403B's if the gov't took them over??
The money would be pooled together and handed out evenly amongst the sheep.
SURE GLAD I saved 20-25% of my income for the past 12 years...............
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Originally Posted By: ToyotaNSaturn
What would happend to 401K/403B's if the gov't took them over??
Give you someone to blame when they end up being what they're worth anyway.
Everything you own has been taken out a whole new door.
Burn Wall St.
What would happend to 401K/403B's if the gov't took them over??
Give you someone to blame when they end up being what they're worth anyway.
Everything you own has been taken out a whole new door.
Burn Wall St.
Originally Posted By: ToyotaNSaturn
What would happend to 401K/403B's if the gov't took them over??
Quote:
chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.
Just like Social Security.
Quote:
A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal. …
Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.
http://hotair.com/archives/2008/10/23/democrats-to-kill-401ks-for-privatized-social-security/
The government is loosing tax money on 401K...can't have that...
What would happend to 401K/403B's if the gov't took them over??
Quote:
chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.
Just like Social Security.
Quote:
A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal. …
Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.
http://hotair.com/archives/2008/10/23/democrats-to-kill-401ks-for-privatized-social-security/
The government is loosing tax money on 401K...can't have that...
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Quote:
The government is loosing tax money on 401K...can't have that...
Then let's require all income, owned and earned, to be TAXED. No more "deferred" compensation packages.
You got to tuck away only 15%. Those who "need help" had NO LIMIT.
The government is loosing tax money on 401K...can't have that...
Then let's require all income, owned and earned, to be TAXED. No more "deferred" compensation packages.
You got to tuck away only 15%. Those who "need help" had NO LIMIT.
Originally Posted By: Tempest
The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
That's what we already have. This [censored] should be charged with plagiarism.
"special government bonds" ie. They'll spend the money today and it won't be there in the future. Amazing really. Is this lady high or even remotely knows what she's talking about?
This system, yet again, would be like me saving money by loaning it back to myself and spending it.
I don't exactly lean to the right, but the more I think about how preposterously foolish and ignorant this proposal is, the more I think we're doomed. Unbelievable. Hopefully someone has pointed out the folly of "special government bonds" to her. It's the same thing as the SS/Medicare surplus. There is no surplus; that money is spent every year under the guise of "special government bonds".
The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
That's what we already have. This [censored] should be charged with plagiarism.
"special government bonds" ie. They'll spend the money today and it won't be there in the future. Amazing really. Is this lady high or even remotely knows what she's talking about?
This system, yet again, would be like me saving money by loaning it back to myself and spending it.
I don't exactly lean to the right, but the more I think about how preposterously foolish and ignorant this proposal is, the more I think we're doomed. Unbelievable. Hopefully someone has pointed out the folly of "special government bonds" to her. It's the same thing as the SS/Medicare surplus. There is no surplus; that money is spent every year under the guise of "special government bonds".
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Rich make the policies and the rich use those policies and when bad stuff happens the poor fund the rich policies!
I heard on Glenn Becks show today we've increased the money supply 75% since this collapse has occurred
Yeah... Too bad none of it's making it to our pockets... The Bankers got off with it!
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Originally Posted By: StevieC
Rich make the policies and the rich use those policies and when bad stuff happens the poor fund the rich policies!
Hey ..wealth needs help. Ask Tempest. Pitch in and do your share to keep them that way.
Why "special bonds"? Why not bona fide Treasury notes?
Rich make the policies and the rich use those policies and when bad stuff happens the poor fund the rich policies!
Hey ..wealth needs help. Ask Tempest. Pitch in and do your share to keep them that way.
Why "special bonds"? Why not bona fide Treasury notes?
Originally Posted By: Gary Allan
Why "special bonds"? Why not bona fide Treasury notes?
Cause those have to actually be paid back.
The SS/medicare surplus bonds don't have to be paid back.
Why "special bonds"? Why not bona fide Treasury notes?
Cause those have to actually be paid back.
The SS/medicare surplus bonds don't have to be paid back.
Originally Posted By: Drew99GT
I heard on Glenn Becks show today we've increased the money supply 75% since this collapse has occurred
Here is a chart if you are interested.
http://mises.org/content/nofed/chart.aspx?series=TMS
I heard on Glenn Becks show today we've increased the money supply 75% since this collapse has occurred
Here is a chart if you are interested.
http://mises.org/content/nofed/chart.aspx?series=TMS
Money cannot be saved for the future, in a collective sense. All money saved gets reinvested and immediately spent, whether by government or private banks. Wealth must be kept as productive assets, business structures, and human relationships. The only thing we can do to ensure a good future is to maintain the vitality of these relationships.
What do you need to maintain a healthy relationship?
Does stealing from one person to give to another maintain good will among men?
What do you need to maintain a healthy relationship?
Does stealing from one person to give to another maintain good will among men?
Privare real property is about to be doomed as well. I am seriously weighing buying another house since I just sold mine with a job transfer. I can't see the logic in entering a contract to "purchase" property that I will neverown unconditionally.
Originally Posted By: Drew99GT
I heard on Glenn Becks show today we've increased the money supply 75% since this collapse has occurred
Everyone should be listening to Glenn Beck. He's the only one I've heard talking about the behind the scenes information and goings on that are really scary.
I heard on Glenn Becks show today we've increased the money supply 75% since this collapse has occurred
Everyone should be listening to Glenn Beck. He's the only one I've heard talking about the behind the scenes information and goings on that are really scary.
Scariest by far was Bill Cooper; about half of what he said has come true.
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The sad part is that they're all Monday morning arm chair quarterbacks. Anyone with half a brain saw this thing coming way back ..yet only a minority ever expressed it. They're pandering to an audience that needs drama about NOW.
How long have I been whining? Did anyone care? Would I have had an audience on cable network? Not likely ..even if we assumed that I had the socialization to express myself more effectively. My ratings would have been in the toilet.
I'd say if Beck could be dressed in Olbermann clothing would be a bit more effective. Same semi-loud mouth attitude ..but with more polish. Beck is just a bit too "non-cerebral" in his delivery.
How long have I been whining? Did anyone care? Would I have had an audience on cable network? Not likely ..even if we assumed that I had the socialization to express myself more effectively. My ratings would have been in the toilet.
I'd say if Beck could be dressed in Olbermann clothing would be a bit more effective. Same semi-loud mouth attitude ..but with more polish. Beck is just a bit too "non-cerebral" in his delivery.
But Beck has substance, Olbermann is void of that. Key difference.
Olbermann should go back to sports.
Olbermann should go back to sports.
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