How about a controversial thread?
Sorry, Super -- but no controversy from me on that one. 
with you. 
02-03-2005, 05:56 AM
#842
I think they are a great idea. I expect a better return and the ability to pass the on to your kids should make it a very good deal. I just hope they don't cap the amount you can contribute and make sure estate taxes don't apply. In addition as the funds stay in private hands, the gov't can't play with them, that's something the Democrats and Republicans will surely miss.
Power to the People
fltsfshr
Power to the People
fltsfshr
02-03-2005, 06:15 AM
#843
Registered User
As for health costs, I know they cannot take anything from you for monies owed. Can't take your house, car, take over your bank accounts, etc. Pay them $10 a month, what are they going to do? They have to treat you (at a hospital). As far as chemo or dialysis, I would like to know if they can refuse to treat you...I think I will research that.
Social Security, well, what else are we going to do? Who has a plan to fund it? What is a better alternative? Anyone? Why are private accounts good for the congress but not good for the people??? If they are so bad, then maybe congress should get social security like everyone else.
Social Security, well, what else are we going to do? Who has a plan to fund it? What is a better alternative? Anyone? Why are private accounts good for the congress but not good for the people??? If they are so bad, then maybe congress should get social security like everyone else.
02-03-2005, 07:28 AM
#844
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Let's face it--the government doesn't "make" money. They can only tax us for our money, and Social Security is a GREAT way to get their hands on some funds. That's why you see that scared look on Nancy Pelosi's face--that or Botox.
Can you imagine not only having some say not only in where your retirement funds are invested, BUT ALSO being able to pass the money you saved onto your children? Amazing! When done intelligently, I'm for it.
In fact, I would also like to see the double-taxation of taxing interest income end, so that we can foster more of a "savings society'. Everyone benefits.
Power to the People!
Can you imagine not only having some say not only in where your retirement funds are invested, BUT ALSO being able to pass the money you saved onto your children? Amazing! When done intelligently, I'm for it.
In fact, I would also like to see the double-taxation of taxing interest income end, so that we can foster more of a "savings society'. Everyone benefits.
Power to the People!
02-03-2005, 07:44 AM
#845
Social Security is all about a guaranteed stipend during retirement. If people want to invest their money in (risky) stock market portfolios, etc., then they can do that with their own money. Hell, the gov't already provides tax exclusions with IRAs and 401(k) plans... Investment stuff is all part of a person's estate -- it's all private!
IMO, Social Security is *not* about private investment.
Either we need Social Security or we don't. IMO, it shouldn't be an option to privatize any/all of it.
IMO, Social Security is *not* about private investment.
Either we need Social Security or we don't. IMO, it shouldn't be an option to privatize any/all of it.
02-03-2005, 07:57 AM
#846
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Far as I'm concerned, anyone who wants status quo on Social Security can have it. However, THEY need to pay in more to account for living longer, etceteras.
I will trade the "risk" of bonds for the extremely poor return of the government (less than 2%?), and NO money to pass along to my family, any time.
--Why can't we pass along our Social Security savings NOW upon death anyway? When did it become a "gift"?
I will trade the "risk" of bonds for the extremely poor return of the government (less than 2%?), and NO money to pass along to my family, any time.
--Why can't we pass along our Social Security savings NOW upon death anyway? When did it become a "gift"?
02-03-2005, 08:22 AM
#847
I think they are a great idea. I expect a better return and the ability to pass the on to your kids should make it a very good deal.
Perhaps when your investment fund goes under in a bad market, the debt should be passed on to your children too! That is what happened to my parents, aunts and uncles in the 1930's. Which by the way, if social security is phased out, just who is going to take care of those people that need help, (orphans, widows, infermed, mentally ill, physcially disfunctional)? social secuirty is far more than your retirement. It is a program that exercises social responsibility for all of us.
Why are private accounts good for the congress but not good for the people??? If they are so bad, then maybe congress should get social security like everyone else.
02-03-2005, 08:32 AM
#849
For more information on what Soc Security is all about (and why) read this:
Answers re Social Security
Answers re Social Security
02-03-2005, 09:11 AM
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LINESUPER,
If you risk all of your retirement money on one stock, or don't diversify to government bonds, then yes, you are open to risk. It's my understanding that there will be TIGHT regulations regarding investments in Social Security. If a government bond defaults, then SS will probably be the least of our worries...
As for taxing the rich:
"In 2002 (the last year for which complete IRS data are available), the top 1 percent of U.S. taxpayers paid 34 percent of all personal income taxes. That is almost double the percentage paid by that group in the early '80s. And since the top 1 percent earned 16 percent of the country's reported income, those upper-end households paid more than twice their "fair share" of taxes based on earnings.
The top 5 percent of Americans, meanwhile, paid fully 54 percent of all personal income taxes in 2002. That too is up sharply from the 35 percent they paid in 1981. And it is a much heavier share than the 31 percent of our total income that they earned.
Even more striking is this fact: The bottom half of all income tax filers in America now pay less than 4 percent of our total income tax bill. And below them are many millions of Americans who are not even required to file income tax returns at all!
Putting these data together, a rather stark picture emerges: The personal income tax, the federal government's main source of revenue, is collected overwhelmingly from a relative handful of Americans. The large majority of all Americans pay little or no income tax. They directly contribute hardly anything to our national defense; our interstate highways and mass transit systems; our environmental cleanups; our benefits for veterans, college students, homebuyers and others; our federal science research; and on and on." from Powerline blog
I keep hearing that it's "unAmerican" to want to keep more of my salary. I guess not paying taxes at all must be a little "unAmerican" too.
If you risk all of your retirement money on one stock, or don't diversify to government bonds, then yes, you are open to risk. It's my understanding that there will be TIGHT regulations regarding investments in Social Security. If a government bond defaults, then SS will probably be the least of our worries...
As for taxing the rich:
"In 2002 (the last year for which complete IRS data are available), the top 1 percent of U.S. taxpayers paid 34 percent of all personal income taxes. That is almost double the percentage paid by that group in the early '80s. And since the top 1 percent earned 16 percent of the country's reported income, those upper-end households paid more than twice their "fair share" of taxes based on earnings.
The top 5 percent of Americans, meanwhile, paid fully 54 percent of all personal income taxes in 2002. That too is up sharply from the 35 percent they paid in 1981. And it is a much heavier share than the 31 percent of our total income that they earned.
Even more striking is this fact: The bottom half of all income tax filers in America now pay less than 4 percent of our total income tax bill. And below them are many millions of Americans who are not even required to file income tax returns at all!
Putting these data together, a rather stark picture emerges: The personal income tax, the federal government's main source of revenue, is collected overwhelmingly from a relative handful of Americans. The large majority of all Americans pay little or no income tax. They directly contribute hardly anything to our national defense; our interstate highways and mass transit systems; our environmental cleanups; our benefits for veterans, college students, homebuyers and others; our federal science research; and on and on." from Powerline blog
I keep hearing that it's "unAmerican" to want to keep more of my salary. I guess not paying taxes at all must be a little "unAmerican" too.