Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So you assume tax deferred accounts would be taxed, and state it as a fact. I was only asking for a link backing up your assumption. If you don't have a link, just say so, but of course there are no such links since such details have not been released, or even planned out yet (and probably never will be, because this will never become reality).
Bernie's proposal to pay for wiping out student loan debt and for free college is a transaction tax on investments. A qualified retirement account contributions' tax deferment only reduces one's taxable income for the year in which the contribution is made. I have NO idea why you think any and all other taxes on it would be deferred. They're not.
And this begs the question... WHY are SO many people SO under-informed? WHY are many Americans SO financially illiterate? Is it any wonder so many people get into debt trouble? They have NO clue, have NO motivation to educate themselves on how debt and compounded interest works, and that all just leaves them with a lifetime of struggle. Then they get frustrated and mad, and lash out and blame others for the hardship situations in which they've embroiled themselves, via their own choices and actions.
Bernie is either a scamster who's counting on his supporters to be ignorant, or he himself is ridiculously ignorant. Take your pick.
Is it too hard to admit you don't know whether or not Bernies plan would tax 401K transactions. No one else knows, so why do you pretend to know such things.
Bernie's plan would tax all investment transactions, including those that occur in pension funds and 401K, IRA, etc., retirement accounts. They ALL have a long list of investment transactions every year. They're clearly published in either monthly, quarterly, or yearly statements/reports.
Well.... it's a great idea that ain't worth a crap.
My advice to young graduates who have maintained 3.5 GPA, in a desired discipline within the (some) work places, your college debt is negotiable, at hiring.
Oh wait, I forgot... they don't teach life skills anymore.
I suppose the 0.5% tax on stocks and 0.1% on bonds would kick in when you cash out.
I am not a huge fan of these kinds of ideas, but I do wonder how anyone like you would sheer 25% taxes on imports which buys us nothing, and then cry about 0.5% tax on financial transactions.
Buy American! And if I want to pay more for Gouda cheese (just an example), I will do so out of free choice and not to pay for someone to get a so called "free education" from my tax money and then doesn't appreciate or work as hard for their education as there is zero incentive to work hard for.
We already have these *****'s that whine and protest and can't even handle a decent discussion between two people who have opposite thoughts. They need a safe space in College to feel ok!
Basically we have to pay for their safe spaces and to make them feel ok!
I'm 100% against paying for these liberal professors who bash anyone who they don't agree with and put these insane thoughts in students mind.
Right now a large percentage doesn't even learn normal history, as it is just what the professors political views are that are spewed in class.
-What about people who work hard and pay it off as they go? Or those who quickly paid off that debt? Won't responsibility be punished in those cases?
-I am 18 and so stressed out. I don't want debt, but my dad is poor, I am not smart like my brother so no big scholarship. I am not sure what I want to do yet for a career. So....I am going to do online college for dirt cheap while living at home (or maybe the local community college)....trust me, I don't like the idea of living at home...until I get a better idea of what I will major in, I need to be super cheap... It isn't glamorous, but I can pay it as I go and my boss that I've worked for since age 15 guaranteed me all the flexibility I need.
I have friends who plan on going into lower paying fields like social worker or teacher, but who are going to expensive private schools in the fall.....maybe their plan is better after all??? Vote away that debt.
Bernie pointed out that Germany has free college, but they also do testing a young ages and track the kids. Most kids do NOT get the free college in Germany as they can't afford to send everyone to study anything they want. I would totally have been tracked off the college path in Germany.
It is nice to help students and I am an odd ball, most of my friends are excited about this, but I don't know...maybe I am too much of a worrier.
I feel like we have more freedom with our system, but freedom requires responsibility, which we are lacking, but.....college is expensive so.....I don't know....
All these liberals ideas are "nice" when you do not think about the cost, results and what the results are.
My kids did very well by being motivated, using the brains they have..to the fullest, etc.
There are kids that are much smarter than my kids, but not all of them had "motivation".
There are a few that we know that were very smart but very distracted by all the sports they played and sadly the sport injuries caused them not to get scholarships. All of them ended up going to Community College for two years, then transfer to local Universities and ending up with a good degree.
From what we got to know about the US system is that if you do not have the money/scholarships to go to College of your choice, then check other cheaper Colleges. Going to a Community College and transfer after two years to a better known College will save you a ton of debt.
Some smart economic advisers on TV mentioned for parents never to sign for College debt and I have seen from close by how wrong that can end. One of my friends paid for years on student loans for her daughter and her daughter dropped out. Sally Mae employees kept calling monthly for the debt, hurting her credit for years.
When kids sign, they know it is their debt and their responsibility.
Choose wise what degree you go for as some will not get you a decent job and going to vocational school may end up bringing some people a nicer pay check and less debt.
But Bernie and other left wingers make it sound like College is needed for all...regardless of capacity and happiness. The debt will be for others to pay!
Bernie should start paying at least for some people as he is a millionaire and hardly paid a dime to any charity!
Socialism works, until you run out of other peoples money!
No crazier a promise than a big beautiful thousand mile concrete wall...
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
