boondocks
Well-known member
Because Americans save too much for retirement already?
https://www.nytimes.com/2017/10/20/us/p ... v=top-news
https://www.nytimes.com/2017/10/20/us/p ... v=top-news
True Grit Farms":110tlpyn said:Fake News
Caustic Burno":3afcrmqb said:There is already a cap on 401K today of 18K as tax deferred.
IRA is 6500.
Jogeephus":1ppj52f6 said:I think we'd all be better off if Washington stayed out of our affairs. Both parties. Don't know how many people recall when Newt Gingrich was pushing for dissolving social security and giving us our money back so we could invest in the stock market. Said it would be better for us. Fast forward several months and the stock market crashed primarily because of poor decisions those in Washington allowed the banks to get by with. Maybe I'm paranoid but I think they saw this coming and this was just a way to kick the can down the road and had we been given our social security funds to invest this would have only delayed the inevitable and we all would have been screwed while those in the know would have walked away smiling.
boondocks":1fdnk4qw said:Caustic Burno":1fdnk4qw said:There is already a cap on 401K today of 18K as tax deferred.
IRA is 6500.
The cap they are discussing is as low as $2400/yr, to push people into immediately-taxable Roths and thereby bump up revenue short-term, to pay for the biz tax cuts.
Brute 23":3cl8bj99 said:Jogeephus":3cl8bj99 said:I think we'd all be better off if Washington stayed out of our affairs. Both parties. Don't know how many people recall when Newt Gingrich was pushing for dissolving social security and giving us our money back so we could invest in the stock market. Said it would be better for us. Fast forward several months and the stock market crashed primarily because of poor decisions those in Washington allowed the banks to get by with. Maybe I'm paranoid but I think they saw this coming and this was just a way to kick the can down the road and had we been given our social security funds to invest this would have only delayed the inevitable and we all would have been screwed while those in the know would have walked away smiling.
That would have been the best thing to ever happen if he would have gotten it passed. You would have only lost money if you would have sold in the down turn. You would have made a butt load more as it came up if your Ss money had been in the stick market.
Social security is the biggest scam ever pulled on the American people. It makes me furious to even think about it. It's a welfare program that they disguise by giving every one a little of their money back.
I would let the government keep every dollar I have put in to just let me out of it and be able to put my money in the market going forward. :devil2: :devil2: :devil2: it is no different than obamacare. They should give us the option to opt out or do a self run plan in the market if we would like.
That's the govt slush fund and line of credit so they don't want to let the people be in charge of THEIR money.
Jogeephus":3vi46fx9 said:Brute 23":3vi46fx9 said:Jogeephus":3vi46fx9 said:I think we'd all be better off if Washington stayed out of our affairs. Both parties. Don't know how many people recall when Newt Gingrich was pushing for dissolving social security and giving us our money back so we could invest in the stock market. Said it would be better for us. Fast forward several months and the stock market crashed primarily because of poor decisions those in Washington allowed the banks to get by with. Maybe I'm paranoid but I think they saw this coming and this was just a way to kick the can down the road and had we been given our social security funds to invest this would have only delayed the inevitable and we all would have been screwed while those in the know would have walked away smiling.
That would have been the best thing to ever happen if he would have gotten it passed. You would have only lost money if you would have sold in the down turn. You would have made a butt load more as it came up if your Ss money had been in the stick market.
Social security is the biggest scam ever pulled on the American people. It makes me furious to even think about it. It's a welfare program that they disguise by giving every one a little of their money back.
I would let the government keep every dollar I have put in to just let me out of it and be able to put my money in the market going forward. :devil2: :devil2: :devil2: it is no different than obamacare. They should give us the option to opt out or do a self run plan in the market if we would like.
That's the govt slush fund and line of credit so they don't want to let the people be in charge of THEIR money.
I agree with most of what you said but I still think we need a safety net because many people don't know how to save and plan for their retirement and this was meant to just be a safety net. But what it was meant to be and what it has morphed into due to the meddling of politicians is a different thing. Like you say, they have just turned it into another piggy bank to rob from. Just imagine how sound social security would be if they just put the money in a safe place and let it draw interest. I think everyone would be better off. :2cents:
Jogeephus":34olmnh6 said:I agree, its not an investment anymore and there is nothing in there because they spent it all. All it is now is a pyramid scheme but there should be money in there. Lots of it had it been done like it was supposed to have been done. I know some elderly people who really depend on this check and they don't have the presence of mind to invest and sadly there are some money managers that would prey on these people. I do see your point but I just don't think everyone is capable of doing this and some people need this help and I believe it would be good if they didn't rob from it.
Jogeephus":2k5zjopn said:Brute 23":2k5zjopn said:Jogeephus":2k5zjopn said:I think we'd all be better off if Washington stayed out of our affairs. Both parties. Don't know how many people recall when Newt Gingrich was pushing for dissolving social security and giving us our money back so we could invest in the stock market. Said it would be better for us. Fast forward several months and the stock market crashed primarily because of poor decisions those in Washington allowed the banks to get by with. Maybe I'm paranoid but I think they saw this coming and this was just a way to kick the can down the road and had we been given our social security funds to invest this would have only delayed the inevitable and we all would have been screwed while those in the know would have walked away smiling.
That would have been the best thing to ever happen if he would have gotten it passed. You would have only lost money if you would have sold in the down turn. You would have made a butt load more as it came up if your Ss money had been in the stick market.
Social security is the biggest scam ever pulled on the American people. It makes me furious to even think about it. It's a welfare program that they disguise by giving every one a little of their money back.
I would let the government keep every dollar I have put in to just let me out of it and be able to put my money in the market going forward. :devil2: :devil2: :devil2: it is no different than obamacare. They should give us the option to opt out or do a self run plan in the market if we would like.
That's the govt slush fund and line of credit so they don't want to let the people be in charge of THEIR money.
I agree with most of what you said but I still think we need a safety net because many people don't know how to save and plan for their retirement and this was meant to just be a safety net. But what it was meant to be and what it has morphed into due to the meddling of politicians is a different thing. Like you say, they have just turned it into another piggy bank to rob from. Just imagine how sound social security would be if they just put the money in a safe place and let it draw interest. I think everyone would be better off. :2cents:
Caustic Burno":150fwna4 said:As far as SS it actually saves us money IMO with most elderly.
Without forcing the majority to save for their elderly years would be an even bigger burden on society IMO.