State of the State- lets not make the pension payment (retirement, commute)
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I think we've seen enough to know that trusting your old age to governments and unions and 3rd parties does not work. Now are we going to get a brain and realize that the solution is for individuals to take back 100% control of their savings and retirements? Or are we going to be retarded lemmings who ask for additional programs to "improve" the programs that already failed, like those before them, and before them, and before them.
Get a brain folks, and see the only rational solution. Eliminate employer pensions, eliminate social security and eliminate government confiscation of private retirement wealth.
All social security withholdings should be under individual control where we can invest our own money (which we own by the way) as we see fit: in stocks, bonds, and legitimate investment vehicles of our own choosing. Nobody cares about you more than yourself. The collective does not, and cannot, ever give a damn whether you live well or die well.
Principles of investment and philosophy should be REQUIRED in formal education like arithmetic and english. Nobody should escape high school without a working knowledge of capitalism, investment, and the philosophy of rational self-interest, including the perils of ignoring your self-interest.
After that, we should retain control of 100% of our retirement funds. It should not be left to the crooks, scammers, and retards that choose to chase political power. Ever.
"Why did the gov't let me invest 100% of my old Social Security money in Lehman stock?"
Read further. Graduates of my high school curriculum would be versed in capitalist philosophy and investing principles. The dumbest of them would never invest 100% of their funds in any one stock, or even any 20 stocks. They would be diversified, and 2008 could happen, and would happen, several times. The final result would nevertheless be fantastic individual wealth to make retirement years a time when everyone could indeed retire if that is what they wanted.
In any case, better that than what we have now: NOTHING! A ponzi scheme where all those untold trillions of social security were repurposed and squandered on vast collectivist s-holes. Leaving a bankrupt system with too many old people and not enough new "investors" for Obamadoff to steal from.
"Why did the gov't let me invest 100% of my old Social Security money in Lehman stock?"
do you think that including a phony unrealistic scenario helps bolster your position? who would put 100% of their social security money in lehman stock? retirement money would be in funds, not individual stocks. the 2008 issue is a 40% loss for people fully in the stock market. that's the position I think is appropriate for you to use. my mother lost about 20% and she was traumatized by it.
"Why did the gov't let me invest 100% of my old Social Security money in Lehman stock?"
I didn't even address the implicit collectivist assumption. In what hellacious Cuba-sewer country would my government be in any position to "LET" me invest MY money? I earned it, I own it, I'll invest it as I see fit.
I didn't even address the implicit collectivist assumption. In what hellacious Cuba-sewer country would my government be in any position to "LET" me invest MY money? I earned it, I own it, I'll invest it as I see fit.
considering the government just takes it and buys treasuries with it today (well, now it just goes right out the door to recipients but in the past it was treasuries) I would consider a step up if they would let people control their own private accounts but there would be some limits on investments (like no individual stocks or if there were individual stocks some kind of diversification requirement).
considering the government just takes it and buys treasuries with it today (well, now it just goes right out the door to recipients but in the past it was treasuries) I would consider a step up if they would let people control their own private accounts but there would be some limits on investments (like no individual stocks or if there were individual stocks some kind of diversification requirement).
As an intermediate step to total freedom, I would be fine with a trial period of 20-30 years where the social security money was withheld from your paycheck and you were allowed to invest it exclusively for your own retirement. I'd even be fine if they didn't allow investments in high risk vehicles such as commodities or real estate. Or even a requirement that the retirement plan be determined to be sound and administered by a trustee, perhaps a CPA. I'm willing to do this because the typical American has had no training in economics and investments and would be lost if they were assigned tomorrow to invest their retirement money wisely. However, I would insist that our primary education system be amended with mandatory curriculum so that every high school graduate would be forced to take and pass courses in investment, retirement planning, and personal fiscal planning and responsibility.
Under this plan, even the lowliest dumbest Walmart career greeter would accumulate more than enough to live comfortably past the age of 65. And the power lusting politicians would have that much less largesse to flush down their altruist-collectivist sewer system.
Assume you're a Yahoo shareholder. The COO there worked 14 months, is being let go and may collect up to $60M in severance. Would that anger you or is it just the "wonders of capitalism"?
However, I would insist that our primary education system be amended with mandatory curriculum so that every high school graduate would be forced to take and pass courses in investment, retirement planning, and personal fiscal planning and responsibility. .
this is so needed. i remember i suggested this a while back and i believe tahiti was kind enough to point out that there is a household economics class as part of the curriculum but i skimmed the topics and it was totally inadequate for what i considered to be the most important aspects of finance. people need to know how to save and invest their money.
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