Tilted Forum Project Discussion Community - View Single Post - Bush's plan to forfeit your SS account profits

smooth · 02-04-2005, 09:39 PM

lol, typical posts arguing over the trees at the expense of the forest.

To clarify, the wonderful panacea of the free market was actually a bunch of greedy corporate heads ransacking the public's money. Maybe you don't think that will happen again, whatever. The truth of the matter is that young investors may rebound, but many people who are retired right now are fucked.

Their investment plans unraveled, not through any fault of their own, but through the lack of government oversight and greedy individuals. That's the shell-game people are urging others to play by banking their future retirements on whether unscrupulous people will take their money and run. My post had nothing to do with rates of return, but plain thievery.

I didn't, but could easily have, asked how someone making minimum wage or slightly above that, is going to get $1000 dollars per month to invest in their own retirement. Our economy is shifting to a service economy, and low-paying jobs. People are going to have a hell of a time preparing for their own retirement when they can't even afford to pay their own rent and health care at the same time.

No one is stopping anyone from privately investing in their future retirement. I do it already, and a number of you lament at how you are prevented from doing so in one post, yet brag about your earnings in another. Which is it? What has been your average rate of return?

Just to break even you need to achieve a 3.3 rate of return. You're going to suddently strike it rich because you get to put money into a special fund yourself? hmm, right. Well, here's something for you: how much to employers contribute according to this plan? That's something I haven't been seeing. Do they still match their employees' contributions?

02-04-2005, 09:39 PM	#58 (permalink)
smooth Junkie Location: Right here	lol, typical posts arguing over the trees at the expense of the forest. To clarify, the wonderful panacea of the free market was actually a bunch of greedy corporate heads ransacking the public's money. Maybe you don't think that will happen again, whatever. The truth of the matter is that young investors may rebound, but many people who are retired right now are fucked. Their investment plans unraveled, not through any fault of their own, but through the lack of government oversight and greedy individuals. That's the shell-game people are urging others to play by banking their future retirements on whether unscrupulous people will take their money and run. My post had nothing to do with rates of return, but plain thievery. I didn't, but could easily have, asked how someone making minimum wage or slightly above that, is going to get $1000 dollars per month to invest in their own retirement. Our economy is shifting to a service economy, and low-paying jobs. People are going to have a hell of a time preparing for their own retirement when they can't even afford to pay their own rent and health care at the same time. No one is stopping anyone from privately investing in their future retirement. I do it already, and a number of you lament at how you are prevented from doing so in one post, yet brag about your earnings in another. Which is it? What has been your average rate of return? Just to break even you need to achieve a 3.3 rate of return. You're going to suddently strike it rich because you get to put money into a special fund yourself? hmm, right. Well, here's something for you: how much to employers contribute according to this plan? That's something I haven't been seeing. Do they still match their employees' contributions? __________________ "The theory of a free press is that truth will emerge from free discussion, not that it will be presented perfectly and instantly in any one account." -- Walter Lippmann "You measure democracy by the freedom it gives its dissidents, not the freedom it gives its assimilated conformists." -- Abbie Hoffman