Things to expect

Gonz

Gonz

molṑn labé
Staff member
All your retirement are belong to them.

WSJ

The market turmoil has some politicians on Capitol Hill eyeing the end of the 401(k) as we know it. Workforce Management reports on a hearing of the House Education and Labor Committee earlier this month:

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. . . .
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.
"I want to stop the federal subsidy of 401(k)s," Ghilarducci said in an interview. "401(k)s can continue to exist, but they won't have the benefit of the subsidy of the tax break.
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Oh the things they can break with Congress & the Executive branch.


Change.


Be careful what you wish for, you just might get it.
 
The real problem with revolution is that there is no guarantee that the assholes you put into power will be any better than the assholes you take out.
 
Gonz said:
Change.


Be careful what you wish for, you just might get it.
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Damn, I sure hope so. The current administration is such a mess even the Repubs ran on change and try and distance themselves from it as much as possible.
 
The liberals in Quebec did similar, so the people voted for change. Now we enjoy the company of the Parti Quebecois

Demanding change, and paying attention to what else is being changed aren`t hand in hand. After all, how many people do you know with the memory of a goldfish?
 
I certainly am paying attention to what is being changed. More to the point I think people noticed what changed under the current admins.

That was messed up.
 
I agree, but do you really believe that the next administration will change what you want it to?

Roll back. The Conservative gov't here in Canada brought in an hugely unpopular tax .. the GST 7% to replace a manufacturing tax 13%. The change was supposed to help increase manufacturing and spread the burden to those in the service industry who weren`t obliged to charge sales tax before (plumbers, carpenters, hookers) because services weren't taxed before. Hugely unpopular, particularly when the manufactured items didn`t go down by the 13% they were supposed to.

The Liberal party ran on a platform that they`d eliminate the GST, and won. Naturally, the didn`t drop the tax at all ... and it wasn't until the next conservative gov't that the tax rate dropped some ... which of course the Provincial gov'ts all benefited from, by hiking their provincial sales tax rate to match.

Today, noone talks about eliminating the GST anymore. Most people don't even remember life without it. Even those who fought hardest against it have long since given up ... because the gov't pretended to action all the while letting people get used to it.

You know what they say about boiling a frog. Right now, while everyone`s watching the shell game and hearing that change is coming change is coming .... Whoever gets in will drag it out, and drag it out until everyone forgets what change was wanted in the first place.
 
Then I wish you well and luck, spike. IMHO, you're going to need it ... regardless of how the election turns out. but from what I've seen so far ... there's precious little difference between any of them, and the ones who get elected tend to be the ones most removed from their party's grass roots.
 
'Twas the night before elections
And all through the town
Tempers were flaring
Emotions all up and down!

I, in my bathrobe
With a cat in my lap
Had cut off the TV
Tired of political crap.

When all of a sudden
There arose such a noise
I peered out of my window
Saw Obama and his boys

They had come for my wallet
They wanted my pay
To give to the others
Who had not worked a day!

He snatched up my money
And quick as a wink
Jumped back on his bandwagon
As I gagged from the stink

He then rallied his henchmen
Who were pulling his cart
I could tell they were out
To tear my country apart!

' On Fannie, on Freddie,
On Biden and Ayers!
On Acorn, On Pelosi'
He screamed at the pairs!

They took off for his cause
And as he flew out of sight
I heard him laugh at the nation
Who wouldn't stand up and fight!

So I leave you to think
On this one final note-
IF YOU DONT WANT SOCIALISM
GET OUT AND VOTE!!!!
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.
 
Man that's just retarded. Some people actually fall for idiotic scare tactics like that though.

Be afraid! Be afraid! :laugh:

Newsblast: Reagan was a socialist.

Gergen: Now, one of the most effective popular programs we've had in the last three decades. It's called the earned income tax credit. It's a program whereby, if you're a working person, a working couple and you're below the poverty line, the government will actually give you money. That's a redistributed program. It's a program which takes money from the upper classes and gives it to the lower -- to the working poor.

Now who started that program? The earned income tax credit? Ronald Reagan. It was one of the -- it was an achievement of the Reagan administration that Bill Clinton then built on.
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http://www.youtube.com/watch?v=bt40s7IKPwE
 
ceiling.jpg
 
Talk about off topic. Not even one reply responded (directly) to the thread topic.
 
well, gonz, then....

i appreciate this posting you have made.

i have long considered any federal involvement in my retirement to be horseshit, and fully expect not to recover my glorious FICA contributions.

so this chick is from the new school for social research, eh? somebody from there tried to recruit me once. now, here's a rarity - those fuckers actually are marxists! real, live, breathing marxists. this lady won't get her plan anywhere. just too "out there" even for a wacky liberal like your boy barac, not to mention all the democrats that get propped up by the good graces of affluent moderates within their party, who prolly have some pretty nice 401k shit going on, despite recent market flops.
 
catacom, no offense but you seem to go through life constantly scared of something or other.
 
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