100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combined

[Henrin]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

The wealthy used the government to get rich and steal from the middleclass. So why not use the government to get the wealth back in the hands of the middleclass?

Good luck proving that claim of yours.

 

[Henrin]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Completely dishonest bull****.

Theft is illegal. Governments levy taxes to help enforce justice and secure liberty.

Or do you think cavemen were more free than the average American taxpayer ?? Lol...

Theft can be either legal or illegal. Taxes are a form extortion and theft.

It should be noted that under the current system taxes are used for more things than just justice and securing liberty.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Theft can be either legal or illegal. Taxes are a form extortion and theft.

Without taxes, you'd be "stealing" by ever doing anything in this country.

 

[Henrin]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Without taxes, you'd be "stealing" by ever doing anything in this country.

What? How? Why do you believe that?

 

[NoLeftNoRight]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

This is based on a report (linked below.)

The whole idea is various incentives and business practices that have changed whom based on income level (and how those that do) save for retirement.

The conclusion of the report suggests this condition is not because of "natural" economic function, but rather imbalanced and disproportional regulation and tax code. So it is less about "the poor spending more then they save" as a economic behavior fault but rather problematic economic distortions.

For instance. One distortion mentioned (and happens to the top action item mentioned in the conclusion) is dealing with unlimited savings tax deferral ability for those generally at the top income quintile (like CEOs,) but seeing corporate 401Ks limit employee contributions to their retirement plans. Some of that is a practical matter as the lower we go down the income quintile the bigger the percentage of that income is immediately needed for living. But, there are things the report suggests on capping tax deferral ability for the top income quintile. Not sure I completely agree with the idea but I get the thinking on trying to even the playing field, even if it means another distortion and probable consequences.

One item I do agree with is linking corporate tax benefit to the offering of retirement plans, of course the inverse being taking away various tax incentives when a corporation does not offer various means of retirement savings.

But another problematic area is the suggestion of State ran pension plans for the private sector. It would make private sector plans function like public sector union retirement plans, and ultimately shift how much liability was extended outward to future contributors. Effectively, a bunch of Social Security Trust fund like plans ran by the various States and with funding levels dependent on fiscal controls State to State.

Any "expansion to Social Security" ends up limited to taxation on the higher income quintiles. I am not convinced that taxing wealth even more really solves the problem.

Review for yourself...

http://foreffectivegov.org/files/two-retirements.pdf

That would be "State RUN" Orphan not state ran eace

 

[OrphanSlug]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

That would be "State RUN" Orphan not state ran eace

Okay... and oversight and probably quick typing error on my part. I've done it before, will probably do it again.

Why the effort to make an issue out of it?

 

[NoLeftNoRight]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

In spite of what the left media tells you and the government propaganda figures tell you, average Americans are not doing so well. The wealthy are doing quite well.

In a huge shock to everyone, Washington DC residents are doing best of all Americans.
Average Americans are struggling. Incomes have stagnated.

So I doubt the gap can be filled so easily.

 

[NoLeftNoRight]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Okay... and oversight and probably quick typing error on my part. I've done it before, will probably do it again.
Why the effort to make an issue out of it?

Don't be so sensitive.
Everyone makes mistakes. That appeared to me more of a persistent grammatical nuance than a mistake.
Feel free to point out mine ANYTIME. I make as many.
A wise man is always learning.

 

[VanceMack]

100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families C...

Lmao, it's impossible for everyone to save without harming consumption. That sounds nice, if you're ok with government deficit spending so people have dollars to save

In your world people are incapable of providing for themselves and their families and of preparing themselves for their future. Considering your mindset, you are correct. They can't.

THAT is tragic.

 

[Renae]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Completely dishonest bull****.

Theft is illegal. Governments levy taxes to help enforce justice and secure liberty.

Or do you think cavemen were more free than the average American taxpayer ?? Lol...

No you wantbthe government to steal what your envious greed think you deserve ftom others. What you want is immoral.

 

[Moot]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Good luck proving that claim of yours.

Henry Paulson, former CEO of Goldman Sachs was the Secretary of Treasury during the financial crisis and bailout....

"...It has been pointed out that Paulson's plan could potentially have some conflicts of interest, since Paulson was a former CEO of Goldman Sachs, a firm that might benefit largely from the plan. Economic columnists called for more scrutiny of his actions. .... The Goldman Sachs benefit from the AIG bailout was recently estimated as US$12.9 billion and GS was the largest recipient of the public funds from AIG.[41] Creating the collateralized debt obligations (CDO's) forming the basis of the current crisis was an active part of Goldman Sach's business during Paulson's tenure as CEO. Opponents argued that Paulson remained a Wall Street insider who maintained close friendships with higher-ups of the bailout beneficiaries.

If passed into law as originally written, the proposed bill would have given the United States Treasury Secretary unprecedented powers over the economic and financial life of the U.S. Section 8 of Paulson’s original plan stated: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."[42] Some time after the passage of a rewritten bill, the press reported that the Treasury was now proposing to use these funds ($700 billion) in ways other than what was originally intended in the bill...."

https://en.wikipedia.org/wiki/Henry_Paulson#Credit_Crisis_of_2007.E2.80.932009​

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

What? How? Why do you believe that?

Because the country has roads, sewage, electricity, etc because of why?

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Don't be so sensitive.
Everyone makes mistakes. That appeared to me more of a persistent grammatical nuance than a mistake.
Feel free to point out mine ANYTIME. I make as many.
A wise man is always learning.

Feel free to explain how your "correction" changes anything.

 

[Henrin]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Because the country has roads, sewage, electricity, etc because of why?

How does that post even follow your last post? What would require me to steal without taxes? Roads can be built and paid for by the private sector, electricity can be provided by the profit, and the same is true for sewage. Even if somehow they couldn't nothing about them would somehow lead to people having to steal.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

No you wantbthe government to steal what your envious greed think you deserve ftom others. What you want is immoral.

Not even a little bit. Your beliefs are borne of ignorance.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

How does that post even follow your last post? What would require me to steal without taxes? Roads can be built and paid for by the private sector, electricity can be provided by the profit, and the same is true for sewage. Even if somehow they couldn't nothing about them would somehow lead to people having to steal.

Nope, it's all possible because of government and taxes.

 

[Henrin]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Nope, it's all possible because of government and taxes.

Except of course you're wrong. You are aware that roads existed before government ever got involved, right? You are aware that the private sector still builds them, right? You are also aware that there is nothing inherent to electricity or sewage services that requires government involvement, right?

 

[VanceMack]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Because the country has roads, sewage, electricity, etc because of why?

Because wealthy people pay taxes.

Oh...wait...you were going to say because POOR people pay taxes...weren't you? You probably actually believe that a poor family actually pays enough in taxes in any given year to pay for even one child in the public school system...let alone pay for all those roads, sewage, electricity, etc.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Because wealthy people pay taxes.

Oh...wait...you were going to say because POOR people pay taxes...weren't you? You probably actually believe that a poor family actually pays enough in taxes in any given year to pay for even one child in the public school system...let alone pay for all those roads, sewage, electricity, etc.

Go read the history.

He's saying that we shouldn't pay any taxes.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Except of course you're wrong. You are aware that roads existed before government ever got involved, right? You are aware that the private sector still builds them, right? You are also aware that there is nothing inherent to electricity or sewage services that requires government involvement, right?

You're blinded to the reality.

If the private sector did all these things, why have government at all ?

Because public goods are best provided by a government. Because negative externalities, like pollution, need to be addressed. Because market failures, like monopolies, need to be addressed.

But, by all means, point out all the successful anarchies in this world.

 

[RetiredUSN]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

You're blinded to the reality.

If the private sector did all these things, why have government at all ?

Because public goods are best provided by a government. Because negative externalities, like pollution, need to be addressed. Because market failures, like monopolies, need to be addressed.

But, by all means, point out all the successful anarchies in this world.

LOL............geeees.


The government had rules in place to protect the citizens from the "FNMA" crisis and didn't act. Bush and McCain were called racists by the Democrats for addressing the FNMA issue .

Governments do not always have the best interests for the people.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

LOL............geeees.


The government had rules in place to protect the citizens from the "FNMA" crisis and didn't act. Bush and McCain were called racists by the Democrats for addressing the FNMA issue .

Governments do not always have the best interests for the people.

I didn't say they do, but equivocating taxes to theft is dishonest bull****.

 

[VanceMack]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Go read the history.

He's saying that we shouldn't pay any taxes.

Ooops. My bad...I thought this was one of those silly "the rich dont pay taxes" arguments, not one of those silly "we should have ANY taxes" comments.

 

[Absentglare]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

Ooops. My bad...I thought this was one of those silly "the rich dont pay taxes" arguments, not one of those silly "we should have ANY taxes" comments.

Completely understandable.

 

[cpwill]

Re: 100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combi

What makes you think I want any of that? Everyone in the economy can't save 10% of their income on average, not without deficit spending filling the gap.

Average household income is about $52000 a year. You absolutely can save 10% of that. I saved about 10% when I was making half that.