Conservatives Idea's for a SECURE Retirement ...... 401-K Plans

[Glenn Quagmire]

I know it's tough to comprehend so I'll type slowly.

You are the one that used "freeloader class" when someone used the benefits that they earned.

 

[eolesen]

Freeloaders are those who take more than they put in. It's pretty easy to see the difference. These guys who work a couple years, and then find a way to get several years worth of unemployment benefits. It's not that hard to find a doctor to put you on disability. Just ask the guys over at the LIRR...

I'd say after 41 years of employment, Hawk put more than his fair share into the system. That same amount over 41 years of employment would have been a pretty nice cushion if unemployment premiums went into a trust named for the employee, similar to a healthcare savings account.

I paid out over $3000 just in social security last year, and slightly more than that into my 401K contribution. I'd much rather see that all going into my 401K so that it's part of my estate.

 

[BoeingBoy]

You are the one that used "freeloader class" when someone used the benefits that they earned.

That should be "the benefits that they were promised" since in all the programs discussed so far the benefits one receives are not prefunded by one's own contributions. The PBGC comes the closest but even there the money the PBGC gets goes into a common pot and whatever benefit an individual gets is mandated by law, not how much was put into the pot in their name. SS, Medicare, workman's comp and unemployment use today's contributions to pay today's beneficieries.

Jim

 

[xUT]

Freeloaders are those who take more than they put in. It's pretty easy to see the difference. These guys who work a couple years, and then find a way to get several years worth of unemployment benefits. It's not that hard to find a doctor to put you on disability. Just ask the guys over at the LIRR...

I'd say after 41 years of employment, Hawk put more than his fair share into the system. That same amount over 41 years of employment would have been a pretty nice cushion if unemployment premiums went into a trust named for the employee, similar to a healthcare savings account.

I paid out over $3000 just in social security last year, and slightly more than that into my 401K contribution. I'd much rather see that going into my 401K so that it's part of my estate.

But that isn't the plan Eric.
It's bad enough of the fees I have to pay Fidelity, can you imagine a 'gooberment 401K controlled plan'?
Be clear, the 'gooberment' is not going to give us a SS holiday and trust we put it into a 'plan.
Watch!
B) xUT

 

[delldude]

Freeloaders are those who take more than they put in. It's pretty easy to see the difference. These guys who work a couple years, and then find a way to get several years worth of unemployment benefits. It's not that hard to find a doctor to put you on disability. Just ask the guys over at the LIRR...

A doctors report will not put you on disabilty....take that to the bank.

 

[tom barry]

You just keep living your life believing everything your government tells you......................"NOTHING" is guaranteed except death and taxes !

............. ' AND that the Democrats will retain '1600 for 4 MORE Years ' !

And WHY ? Because your party of REPUGS could NOT muster-up a better candidate than Romney.

I'll admit that B O is a weak Incumbent,...........BUT (And HEAR ME GOOD).........if you CLOWNS lose to a weak Incumbent, What does that say about the Grand ol' Party ?????????

When you lose(and you WILL) I'll NOT be forgetting to remind you about it, for the next 4 Years !!!!

Good Luck (cause' your gonna' need it ) !!!!!!!!!!

 

[southwind]

Take it your legs are getting all Tingly again Barry ?

 

[Kev3188]

E said: "I paid out over $3000 just in social security last year, and slightly more than that into my 401K contribution. "

I paid a little more than 1/2 of that into SSN, and had no problem with it. Why? because those same people that are now retired likely paid my way through school, as well as funding any other infrasturcture I used before starting to pay in myself.

It seems that people here are also only focusing on the retiree portion of SSN, and not the other components, such as disability and/or survivorship payments.

What happened to the idea of a tacit social contract?

 

[BoeingBoy]

What happened to the idea of a tacit social contract?

Deficits. The government doesn't have the money to pay it's current bills and sure doesn't have the money to pay for your "tacit social contract". What happens when the cost of that "social contract" becomes so great that there's no money for schools, roads, police, etc?

 

[Kev3188]

That's just it, Jim; it's not "my" agreement. It's about all of us (as in Americans) looking out for one another, and benefitting from it.

 

[BoeingBoy]

A nice theory until you put people into it, then human nature takes hold. Everyone wants every benefit that they've been promised and more but few want to pay more taxes to pay for it. Even Socialism fell under it's own weight as those in power lived lavishly while the rest stood in line for bread.

The U.S. is at the tipping point - half the people live on a check from the government and the other half pay for the first half. I'm at the leading edge of the baby boomers - born in 1946 - so as my generation retires there will be a smaller percentage paying for everything the politicians have promised but more people demanding their "entitlement". So what is your solution? Change nothing and just let the money run out, or have your children pay more and more of their income to support those benefiting from the politicians promises?

Just look at the mess in Greece - near anarchy. That'll happen here if nothing is done. So enlighten us Kev - how do you fix the problem?

Jim

 

[xUT]

A nice theory until you put people into it, then human nature takes hold. Everyone wants every benefit that they've been promised and more but few want to pay more taxes to pay for it. Even Socialism fell under it's own weight as those in power lived lavishly while the rest stood in line for bread.

The U.S. is at the tipping point - half the people live on a check from the government and the other half pay for the first half. I'm at the leading edge of the baby boomers - born in 1946 - so as my generation retires there will be a smaller percentage paying for everything the politicians have promised but more people demanding their "entitlement". So what is your solution? Change nothing and just let the money run out, or have your children pay more and more of their income to support those benefiting from the politicians promises?

Just look at the mess in Greece - near anarchy. That'll happen here if nothing is done. So enlighten us Kev - how do you fix the problem?

Jim

I don't think thats fair Jim. I for one have never taken unemplyment even when I was eligible and always pay my taxes.
I believe in taking personal responsibility for myself and as long as I have cash in the bank, I'll not be looking for a hand out.
Look at the millions of government workers that have paid into the GSA retirement and not SS. Look at the thousands of senators, congressmen, etc... that will get full retirement 'for life' after serving 4 years.
When these robber barons are willing to share the pain, I'll look at it.
Some people need help. I would rather pay more taxes than see people dying in the streets like a 3rd world country.
I've seen 'real poverty' first hand and it breaks my heart. If that is your 'vision' then too bad for you.
B) xUT

 

[Kev3188]

...as those in power lived lavishly while the rest stood in line for bread.

You don't see us about one step from that now? Tipping point is right. The sad part is that many in the proverbial bread line have been conditioned to lionize those living lavishly, even if it means acting against their best interests.

Just look at the mess in Greece - near anarchy. That'll happen here if nothing is done. So enlighten us Kev - how do you fix the problem?

Jim

We're already at the threshold of class warfare, IMO. How do you fix it? First you stop the train we're on.

Some ideas to start:

• Bring manufacturing back, and couple that with living wages. As wages go, so too does the economy.
• Rebuild the technical and/or vocational college system to (re)train workers faster.
• Stop the manufactured assault on the middle class.
• Bring back the idea of revenue sharing (at the municipal level).
• Revamp the education system to not only make it affordable, but accessible.
• Rebuild the nation's infrastructure. Put people to work doing so. In conjunction with that, try something on par w/the CCC or WPA. I realize that makes some on the right spontaneously combust, but I'm willing to bet most people currently on the dole don't want to actually be there, and would be happy to work for a decent wage instead.

What do you think we oughta do, Jim? Stay the course? I gotta tell ya; from my vantage point, it's failing.

 

[Kev3188]

I don't think thats fair Jim. I for one have never taken unemplyment even when I was eligible and always pay my taxes.
I believe in taking personal responsibility for myself and as long as I have cash in the bank, I'll not be looking for a hand out.
Look at the millions of government workers that have paid into the GSA retirement and not SS. Look at the thousands of senators, congressmen, etc... that will get full retirement 'for life' after serving 4 years.
When these robber barons are willing to share the pain, I'll look at it.
Some people need help. I would rather pay more taxes than see people dying in the streets like a 3rd world country.
I've seen 'real poverty' first hand and it breaks my heart. If that is your 'vision' then too bad for you.
B) xUT

Well put.

I too, would rather pay than see my fellow citizens suffer. *That* IMO, is what not only personal responsibility, but also responsibility as an American is all about.

 

[southwind]

That's just it, Jim; it's not "my" agreement. It's about all of us (as in Americans) looking out for one another, and benefitting from it.

Problem is more people are taking money out of the pot, than people putting into the pot !

And while I'll agree there are many people who would rather be working, than on un-employment, the continual extension of those benefits, I'm sure, keep many from actively seeking gainful employment !