erynthered Posted October 24, 2008 Share Posted October 24, 2008 Market Search has an article also, though it wouldnt let me link. http://hotair.com/archives/2008/10/23/demo...ocial-security/ http://www.workforce.com/section/00/article/25/83/58.php Any of you Wall street dudes want to comment on this? Link to comment Share on other sites More sharing options...
taterhill Posted October 24, 2008 Share Posted October 24, 2008 Link to comment Share on other sites More sharing options...
bills_fan Posted October 24, 2008 Share Posted October 24, 2008 I'm speechless.....that is such an incredibly bad !@#$ing idea and they haven't even won yet? What a disaster this country will be in 4 years. Link to comment Share on other sites More sharing options...
Adam Posted October 24, 2008 Share Posted October 24, 2008 I'm speechless.....that is such an incredibly bad !@#$ing idea and they haven't even won yet? What a disaster this country has become Corrected Link to comment Share on other sites More sharing options...
bills_fan Posted October 24, 2008 Share Posted October 24, 2008 Corrected Thank you. You are right. Link to comment Share on other sites More sharing options...
swede316 Posted October 24, 2008 Share Posted October 24, 2008 Worst idea...EVER! Link to comment Share on other sites More sharing options...
taterhill Posted October 24, 2008 Share Posted October 24, 2008 I'm speechless.....that is such an incredibly bad !@#$ing idea and they haven't even won yet? What a disaster this country will be in 4 years. some ideas i think would be great... lower IRA dist'n age from 59 1/2 to 55 allow Children's ROTH IRA account $2000 limit Link to comment Share on other sites More sharing options...
DC Tom Posted October 24, 2008 Share Posted October 24, 2008 Well that's bull sh--. I like the "invest it in government bonds" idea too. Let's not only cut the tax break for retirement saving, but raise an extra 5% tax under the guise of "public retirement saving" to finance deficit spending. Sad thing is, more than half the nation would go "Hey, yeah...that's a good idea!" Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 24, 2008 Share Posted October 24, 2008 some ideas i think would be great... lower IRA dist'n age from 59 1/2 to 55 allow Children's ROTH IRA account $2000 limit I like the idea of a Children's Roth. Link to comment Share on other sites More sharing options...
/dev/null Posted October 24, 2008 Share Posted October 24, 2008 Link to comment Share on other sites More sharing options...
erynthered Posted October 24, 2008 Author Share Posted October 24, 2008 I'm speechless.....that is such an incredibly bad !@#$ing idea and they haven't even won yet? What a disaster this country will be in 4 years. What? Theres nothing wrong with spreading the wealth, even if it hurts everybody with a 401K. < Coli > Link to comment Share on other sites More sharing options...
bills_fan Posted October 24, 2008 Share Posted October 24, 2008 some ideas i think would be great... lower IRA dist'n age from 59 1/2 to 55 allow Children's ROTH IRA account $2000 limit I like your ideas, but if anything, distribution age will be raised...keep people working longer. Lover the Children's Roth idea...how about a $5k limit? Link to comment Share on other sites More sharing options...
finknottle Posted October 24, 2008 Share Posted October 24, 2008 You think the idea stinks now? The plan as describes invests your money in 3% bonds. Fine. We might have to mandate buying bonds anyway, once China stops investing, lol. But with Pelosi & Friends running things without check, I can guarantee that any legislation that actually materializes will be progressive along the lines of Social Security: If you make 40k, your $2,000 may get 3%. But if you make 20k, they will give you a higher return, 6% maybe. And if you make 100k? Your mandatory $5,000 investment will earn 0%, or maybe even a negative return If they do that with social security, why wouldn't they do that here? Link to comment Share on other sites More sharing options...
erynthered Posted October 24, 2008 Author Share Posted October 24, 2008 You think the idea stinks now? The plan as describes invests your money in 3% bonds. Fine. We might have to mandate buying bonds anyway, once China stops investing, lol. But with Pelosi & Friends running things without check, I can guarantee that any legislation that actually materializes will be progressive along the lines of Social Security: If you make 40k, your $2,000 may get 3%. But if you make 20k, they will give you a higher return, 6% maybe. And if you make 100k? Your mandatory $5,000 investment will earn 0%, or maybe even a negative return If they do that with social security, why wouldn't they do that here? Its amazing how many people here think their so informed. Jump on the train, Dude!! Link to comment Share on other sites More sharing options...
Boomer860 Posted October 24, 2008 Share Posted October 24, 2008 Look for a total collapse of the financial sytem both here and abroad between Nov. and Jan. if Obama is elected. They do not like Obamas tax program ,they are not keen on McCains but less so on Obamas. Link to comment Share on other sites More sharing options...
finknottle Posted October 24, 2008 Share Posted October 24, 2008 Its amazing how many people here think their so informed. Jump on the train, Dude!! ??? What's wrong with what I said? Link to comment Share on other sites More sharing options...
erynthered Posted October 24, 2008 Author Share Posted October 24, 2008 ??? What's wrong with what I said? Nothing finkster, just being a wise ass. Link to comment Share on other sites More sharing options...
taterhill Posted October 24, 2008 Share Posted October 24, 2008 I like your ideas, but if anything, distribution age will be raised...keep people working longer. Lover the Children's Roth idea...how about a $5k limit? I know but it makes no sense that you can w/d at 55 if you leave it in your 401k and not in an IRA Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 24, 2008 Share Posted October 24, 2008 Look for a total collapse of the financial sytem both here and abroad between Nov. and Jan. if Obama is elected. They do not like Obamas tax program ,they are not keen on McCains but less so on Obamas. What are you talking about? The whole world wants Obama elected. Here's the poll. It's not even close. It's a landslide. Although he's polling weak in Iraq, apparently Iran loves the guy. And while 97.8% of Kenya voted for Obama, the 2.2% who did not are scheduled for public execution this week by Odinga, so we expect that number to rise. Even Israel wants him at 65.2%, but that's probably because they are all looking forward to being divided into eight individually wrapped bite-sized pieces. You'll also note that Guinea, Guinea-Bissau and India go to Obama 100%. The only area that fully supports McCain is Macedonia, but that's primarily because they have an O in the middle of their flag, and they're pretty sure Obama is going to make them remove it for copyright issues. The world wants Obama. The world will get Obama. They love his tax plans. They welcome him with love and glorious triumph! Link to comment Share on other sites More sharing options...
DC Tom Posted October 24, 2008 Share Posted October 24, 2008 The plan as describes invests your money in 3% bonds. Fine. We might have to mandate buying bonds anyway, once China stops investing, lol. You know, that's not a bad point either. (Serious, non-Godwin reference coming up.) Germany in the '30s financed their deficit spending off mandated savings which banks were required to invest in German bonds. If our creditor nations stop buying (and keep in mind, in a global recession, if American consumption falls, it's not outside the realm of possibility that China's balance of trade with us drops enough so that they reduce their buying of treasuries), where's the government going to turn to? Link to comment Share on other sites More sharing options...
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