So the camel is sticking his nose under the tent again?
Absolutely friggin amazing !
It won,t stand unless of course the citizens let them get away with it,they were told no on the bank bailouts and they gave us the finger ,so they might just run this turd sandwich down our throats also.
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Just doing that voodoo that I do oh so well .
Last edited by DYNASTY HVY : 10-26-2008 at 09:20 PM.
Reason: ran low on gin and tonic mix
Truly frightening. Not only do they want to eliminate the tax deductability of 401(k) contributions, but they want people to divert those contributions to the (going bankrupt) social security system, for a tiny 3% return and a small bump in your social security payment. How long will it be before they're calling for people to surrender their balances entirely?
I can see the headlines in two years: "After years of massive foreclosures and housing price declines, Teresa Ghilarducci proposes everyone surrenders their home to the government, in exchange for a guaranteed lifetime spot in a government-provided housing unit."
We're on a slippery slope to an Orwellian society here.
It won,t stand unless of course the citizens let them get away with it,
So, basically, they will get away with it. The people of this country, as a whole, are far too apathetic and ignorant to actually pay attention to what is going on. Actually, they are too apathetic to pay attention to things that actually matter in their lives, they are much too busy worrying about trivial things like who is being voted off of Survivor. It's amazing what people in power can get away with when they distract the public enough. When I was a senior in high school, we had a government teacher who preached nearly daily on the dangers of an apathetic and ignorant populace. I have come to understand why. We've gone from a, "Ask what you can do for your country" mentality, to a "Ask what your country can do for you" mentality. And it's on BOTH sides. I just call these swine Republicrats now.
My wife and I (both 27) have been saving for YEARS for a number of things, one of which is retirement. Neither of us has any intentions of working past 50 - 55. We have long had the mindset that, even though our money is being stolen from us to pay for it, we will never see a dime from social security. I guess we won't be able to count on our 401(k)'s either.
I emailed my congresswomen, with the link to that article and expressed my distaste.
Took 5 whole minutes.
Sure, I did the same about the bail out bill. How effective was that? One senator wrote me back a letter. Once I read the line in it that said "Americans need credit to drive to work...." I threw it in the trash. As if my vote matters at all, I will not be voting for ANY incumbents next week.
It is depressing to think of how dumbed down Americans are toward economics. You figure that 401(k)'s are a person money, future, and otherwise livelihood and the last person to trust would be the government.... considering such catastrophes as Social Security, Medicare, Fannie Mae, etc. The government has proven time and time again how incompetent they are to handle anything close to money/investments. Evidence is always subjective I guess..... historical cause and effect seem not to matter.
That line from the senator's letter "Americans need credit to drive to work" was very profound.... we do need credit and it is such a shame we have no real substance.... it isn't that all credit is bad.. it is that all we have is credit.
It would be nice if most Americans thought for themselves in a critical manner.
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Government big enough to give you all you need is big enough to take all you have
That line from the senator's letter "Americans need credit to drive to work" was very profound.... we do need credit and it is such a shame we have no real substance.... it isn't that all credit is bad.. it is that all we have is credit.
It would be nice if most Americans thought for themselves in a critical manner.
Agreed. I have been pondering the same thing for weeks now . . . Ok, our current situation could be considered a "crisis" due to the money loss in the stock market, I get that. But, the rest of it?? It isn't a "crisis". It's the end of free money to people with no means, or intention in some cases, to re-pay. It's going back to, "20% down and 30-yr fixed, or no mortgage for you!" Why is this a bad thing?? All day long I hear and see these mindless commercials telling me how people can CHOOSE to be out of debt, and POOF, you'll be out of debt just like that, with people whining, "I have $40,000 in credit card debt and I dont know what to do!!!" Here's a real novel idea for you .... STOP BUYING **** YOU DONT NEED! Too many people finance their lifestyle now. I'm proud to say, the only debt we have is $20k in student loans. No car payments, no credit card debt, etc. Life is a lot less stressful that way, and simpler.
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.
That's like putting Mr. MaGoo in charge of LASIK surgeries!
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All day long I hear and see these mindless commercials telling me how people can CHOOSE to be out of debt, and POOF, you'll be out of debt just like that, with people whining, "I have $40,000 in credit card debt and I dont know what to do!!!" Here's a real novel idea for you .... STOP BUYING **** YOU DONT NEED! Too many people finance their lifestyle now. I'm proud to say, the only debt we have is $20k in student loans. No car payments, no credit card debt, etc. Life is a lot less stressful that way, and simpler.
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