401k

[TexasBred]

I don't understand why people are adamantly against a private option? What harm would it do?

Tell me that. Why would it hurt to offer a private option for people like me?

Where's the money going to come from to pay my SS then? You owe me what I paid in, like I owed those American's before me.
Brute, you seem quite selfish in your thinking. I don't begrudge the handicap, disabled and those that worked and paid into SS a check. If you took those who were freeloaders and deadbeats their whole lives, and the people that fraudulently collect SS because their disabled or handicapped we'd have a surplus of money.

"Ponzi scheme
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources." Social Security sure seems to fit into that explanation. Does it not? I can't see where one generation owes the next a retirement simply because they were ripped off and had to pay for a past generation.

Also exactly how banks operate.

 

[True Grit Farms]

I don't understand why people are adamantly against a private option? What harm would it do?

Tell me that. Why would it hurt to offer a private option for people like me?

Where's the money going to come from to pay my SS then? You owe me what I paid in, like I owed those American's before me.
Brute, you seem quite selfish in your thinking. I don't begrudge the handicap, disabled and those that worked and paid into SS a check. If you took those who were freeloaders and deadbeats their whole lives, and the people that fraudulently collect SS because their disabled or handicapped we'd have a surplus of money.

"Ponzi scheme
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources." Social Security sure seems to fit into that explanation. Does it not? I can't see where one generation owes the next a retirement simply because they were ripped off and had to pay for a past generation.

You'll hear no augment from me on the Ponzi scheme. We, they or whoever didn't vote the crooks...politicians out of government, so it's all of our faults the way I see it. We need to focus on the problems with SS and fix them. If you didn't pay in you don't deserve to be eligible to receive SS. I knew a couple of folks that were divorced, and their ex wife got their SS check upon their death, go figure. American's can't make the hard choices, we're to compassionate.

 

[Brute 23]

Where's the money going to come from to pay my SS then? You owe me what I paid in, like I owed those American's before me.
Brute, you seem quite selfish in your thinking. I don't begrudge the handicap, disabled and those that worked and paid into SS a check. If you took those who were freeloaders and deadbeats their whole lives, and the people that fraudulently collect SS because their disabled or handicapped we'd have a surplus of money.

"Ponzi scheme
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources." Social Security sure seems to fit into that explanation. Does it not? I can't see where one generation owes the next a retirement simply because they were ripped off and had to pay for a past generation.

Also exactly how banks operate.

I don't think that is the case. A lot of business models use growth or income to pay back to the investors or share holders. In many cases they even take out debt to do it because of their large amount of assets. The key to that is you choose to invest in those places and can choose not to at any point. There is accountability to the investor.... Not governement mandated investors or participants.

 

[Son of Butch]

I don't understand why people are adamantly against a private option? What harm would it do?

Tell me that. Why would it hurt to offer a private option for people like me?

I can't see where one generation owes the next a retirement....

One generation are your parents and the next generation are your children and you can't see a connection?

The money you pay in goes to pay for your parents and grandparents retirement and medical bills.
It goes to fund your neighborhood's widows and orphans.
It's forced because people are self centered. Just look at the rise in Deadbeat Dads (or Moms) that won't even pay
or care for their own children, let alone their grandparents or have the charity to help their neighbors.

 

[greybeard]

https://www.nytimes.com/2017/10/23/us/p ... udget.html
(***** said early on Monday that his proposed tax plan would not prompt any changes to Americans' tax-deferred retirement plans, pushing back against reports that (some members of congress) are weighing a proposal that would significantly reduce the income workers can save in these popular programs.

 

[boondocks]

https://www.nytimes.com/2017/10/23/us/politics/trump-401-k-tax-budget.html
(***** said early on Monday that his proposed tax plan would not prompt any changes to Americans' tax-deferred retirement plans, pushing back against reports that (some members of congress) are weighing a proposal that would significantly reduce the income workers can save in these popular programs.

looks like it's being road-tested (to see whether people get up in arms or shrug)

 

[True Grit Farms]

https://www.nytimes.com/2017/10/23/us/politics/trump-401-k-tax-budget.html
(***** said early on Monday that his proposed tax plan would not prompt any changes to Americans' tax-deferred retirement plans, pushing back against reports that (some members of congress) are weighing a proposal that would significantly reduce the income workers can save in these popular programs.

looks like it's being road-tested (to see whether people get up in arms or shrug)

Or fake news, but we're kind of lucky to have social media....if people would just stay off their darn phone while driving.

 

[TexasBred]

"Ponzi scheme
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources." Social Security sure seems to fit into that explanation. Does it not? I can't see where one generation owes the next a retirement simply because they were ripped off and had to pay for a past generation.

Also exactly how banks operate.

I don't think that is the case. A lot of business models use growth or income to pay back to the investors or share holders. In many cases they even take out debt to do it because of their large amount of assets. The key to that is you choose to invest in those places and can choose not to at any point. There is accountability to the investor.... Not governement mandated investors or participants.

Actually it is. Your bank for instance may have a million bucks in the vault and on deposit with other banks yet it is holding 100 million in customer deposits on their books....numbers only??? Where is that money??? It is lent out to you and me in the hopes that we will pay it back with a return higher than our cost of operations thus profit. If loan demand increases they borrow money or solicit funds, yet their actual "worth" never changes....they simply appear much larger due to increased deposits, borrowed funds and loans outstanding. Another Ponzi scheme?? Pretty much so. Want to read a bank statement of condition?? Turn it upside down. BTW.....SSA will never go broke.

 

[Anonymous]

I can't see where one generation owes the next a retirement....

One generation are your parents and the next generation are your children and you can't see a connection?

The money you pay in goes to pay for your parents and grandparents retirement and medical bills.
It goes to fund your neighborhood's widows and orphans.
It's forced because people are self centered. Just look at the rise in Deadbeat Dads (or Moms) that won't even pay
or care for their own children, let alone their grandparents or have the charity to help their neighbors.

One generation are your parents and the next generation are your children and you can't see a connection?
Yes I see that. It is my moral responsibility to see that my family and community is not suffering. Morality can't be forced with being corrupted. As everyone agrees, some receive social security and welfare benefits that do not deserve it.
The money you pay in goes to pay for your parents and grandparents retirement and medical bills.
Again, that is the definition of Ponzi Scheme. What has happened to the money they paid in? Govt wasted it which proves my point above.

[b]It's forced because people are self centered. Just look at the rise in Deadbeat Dads (or Moms) that won't even pay
or care for their own children, let alone their grandparents or have the charity to help their neighbors.[/quote]
Every one is self centered to a point. Forced charity really isn't charity at all. It becomes socialism. Forced charity suppresses true charity but even worse it suppresses responsibility, as in dead beat dads and moms.

 

[Brute 23]

Also exactly how banks operate.

I don't think that is the case. A lot of business models use growth or income to pay back to the investors or share holders. In many cases they even take out debt to do it because of their large amount of assets. The key to that is you choose to invest in those places and can choose not to at any point. There is accountability to the investor.... Not governement mandated investors or participants.

Actually it is. Your bank for instance may have a million bucks in the vault and on deposit with other banks yet it is holding 100 million in customer deposits on their books....numbers only??? Where is that money??? It is lent out to you and me in the hopes that we will pay it back with a return higher than our cost of operations thus profit. If loan demand increases they borrow money or solicit funds, yet their actual "worth" never changes....they simply appear much larger due to increased deposits, borrowed funds and loans outstanding. Another Ponzi scheme?? Pretty much so. Want to read a bank statement of condition?? Turn it upside down. BTW.....SSA will never go broke.

It's not the same. Your talking about receivables on loans from money that investors put in the bank.

SS has no receivables. It only has mandated investors. They govt hands the investors money out like candy.

 

[Brute 23]

My problem with the government handling the money is they change the rules as they please, they are inefficient, and they enable people rather than letting them fall.

Our government has enabled people to not save for retirement, not take care of their kids, not pay their medical bills... etc

 

[TexasBred]

I don't think that is the case. A lot of business models use growth or income to pay back to the investors or share holders. In many cases they even take out debt to do it because of their large amount of assets. The key to that is you choose to invest in those places and can choose not to at any point. There is accountability to the investor.... Not governement mandated investors or participants.

Actually it is. Your bank for instance may have a million bucks in the vault and on deposit with other banks yet it is holding 100 million in customer deposits on their books....numbers only??? Where is that money??? It is lent out to you and me in the hopes that we will pay it back with a return higher than our cost of operations thus profit. If loan demand increases they borrow money or solicit funds, yet their actual "worth" never changes....they simply appear much larger due to increased deposits, borrowed funds and loans outstanding. Another Ponzi scheme?? Pretty much so. Want to read a bank statement of condition?? Turn it upside down. BTW.....SSA will never go broke.

It's not the same. Your talking about receivables on loans from money that investors put in the bank.

SS has no receivables. It only has mandated investors. They govt hands the investors money out like candy.

Buddy you couldn't be more wrong. They have trillions of receivables....and all of their investors are mandated....by law....you, me and every illegal alien that gets paid by check. The need more money they simply raise the minimum taxable wages or as a last resort raise the rate.

 

[Brute 23]

Actually it is. Your bank for instance may have a million bucks in the vault and on deposit with other banks yet it is holding 100 million in customer deposits on their books....numbers only??? Where is that money??? It is lent out to you and me in the hopes that we will pay it back with a return higher than our cost of operations thus profit. If loan demand increases they borrow money or solicit funds, yet their actual "worth" never changes....they simply appear much larger due to increased deposits, borrowed funds and loans outstanding. Another Ponzi scheme?? Pretty much so. Want to read a bank statement of condition?? Turn it upside down. BTW.....SSA will never go broke.

It's not the same. Your talking about receivables on loans from money that investors put in the bank.

SS has no receivables. It only has mandated investors. They govt hands the investors money out like candy.

Buddy you couldn't be more wrong. They have trillions of receivables....and all of their investors are mandated....by law....you, me and every illegal alien that gets paid by check. The need more money they simply raise the minimum taxable wages or as a last resort raise the rate.

You should go in to politics.

 

[TexasBred]

It's not the same. Your talking about receivables on loans from money that investors put in the bank.

SS has no receivables. It only has mandated investors. They govt hands the investors money out like candy.

Buddy you couldn't be more wrong. They have trillions of receivables....and all of their investors are mandated....by law....you, me and every illegal alien that gets paid by check. The need more money they simply raise the minimum taxable wages or as a last resort raise the rate.

You should go in to politics.

Unfortunately for all....just pure facts buddy !!!!