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A Vision of our Future

CalGun

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That's wishful thinking among those who work hard and save. Not very comforting since there are provisons for this in Dodd-Frank.


That won't happen here. Any politician who supported that in the US would be committing political suicide.
 

Ari

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That's wishful thinking among those who work hard and save. Not very comforting since there are provisons for this in Dodd-Frank.
I've never heard of those provisions? Enlighten me.
 

CalGun

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Look up Dodd Frank. Provisions of asset protections and pay attention to the deposits of businesses and individuals on the "protection" line for the FDIC. They come after loan gaurantees and derivatives!


I've never heard of those provisions? Enlighten me.
 

Paschendale

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How about we protect the pensions, but leave the profiteers to clean up their own messes? Instead of subsidizing their mistakes at the cost of the workers.
 

Ray410

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That won't happen here. Any politician who supported that in the US would be committing political suicide.
As messiah, Obama can do whatever he wants through Executive Order. No one challenges him, the system of checks and balances is gone. John Roberts proved that with Obamacare.
 

TiredOfLife

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As messiah, Obama can do whatever he wants through Executive Order. No one challenges him, the system of checks and balances is gone. John Roberts proved that with Obamacare.
That's true. he's a King now. All Hail Obama, long live the King, for three more years that is. Most kings are elected right??
 

CRUE CAB

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That won't happen here. Any politician who supported that in the US would be committing political suicide.
You think? Millions of people under 30 that have no job or no job with a retirement dont care about people who are retired or about to retire.
The new America is work till you die.
 

froggigger

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How about we protect the pensions, but leave the profiteers to clean up their own messes? Instead of subsidizing their mistakes at the cost of the workers.
You just came oh so close to advocating a free market.
 

tech30528

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That won't happen here. Any politician who supported that in the US would be committing political suicide.
BS. It has already been suggested, and those who failed to plan supported it. There was a proposal to have a "one time" (yeah right) tax on 401k's. As a part of Obamacare HSA insurance policies would be eliminated and the attached savings account taxed as regular income all at once. In the past couple of years the federal government along with the banks, and Fannie Mae have skimmed billions of dollars of home equity off the homeowners and it is estimated that the federal government via FM holds 87% of the mortgage notes in the country. There have been proposals for a "wealth tax", highly supported by those who don't have wealth. The caveat here is much like UHC it will reach further down the chain than many expect. I remember a few weeks ago hearing about a professor in Florida complaining about being informed via email that her hours were being cut to under 30 a week. She was rather upset about that, and commented that she "never expected (UHC) would affect her directly". I guess she was OK with it as long as it was affecting other people but not her? Selfish bitch, how are you liking those liberal policies now?

If I lived in Poland (I am Polish by descent, never been there) I'd be finding like minded people to make sure this didn't happen. As it is happening here (slowly, one bite at a time) I am teaming with like minded people and we are doing something about it. Got a meeting tonight with a state senator as a matter of fact. I think it's only a matter of time before politicians here who would support such matters will be committing more than political suicide. I sincerely hope that actions like we are taking (town hall type meetings) will turn the ship before that happens. I'd rather not see politicians die for their actions. Reasonable people should not have to resort to that. Decades ago the Nazis thought they could simply over run the Polish ghettos, they were wrong. The first time they were beat back by sticks and rocks. The second time they took a beating by way of captured German weapons. It took air strikes to quell the opposition. If I were in the Polish government I would look in to the face of those brave and strong people and think twice.
 

head of joaquin

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Pensions should have complete protection in bankruptcy, so that instead of paying investors and creditor, pension have priority, since their work built the company.

Wait, the GOP crafted the new bankruptcy laws to make sure that didn't happen.

It's almost as if the OP is being disingenuous.
 

head of joaquin

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BS. It has already been suggested, and those who failed to plan supported it. There was a proposal to have a "one time" (yeah right) tax on 401k's. As a part of Obamacare HSA insurance policies would be eliminated and the attached savings account taxed as regular income all at once. In the past couple of years the federal government along with the banks, and Fannie Mae have skimmed billions of dollars of home equity off the homeowners and it is estimated that the federal government via FM holds 87% of the mortgage notes in the country. There have been proposals for a "wealth tax", highly supported by those who don't have wealth. The caveat here is much like UHC it will reach further down the chain than many expect. I remember a few weeks ago hearing about a professor in Florida complaining about being informed via email that her hours were being cut to under 30 a week. She was rather upset about that, and commented that she "never expected (UHC) would affect her directly". I guess she was OK with it as long as it was affecting other people but not her? Selfish bitch, how are you liking those liberal policies now?

If I lived in Poland (I am Polish by descent, never been there) I'd be finding like minded people to make sure this didn't happen. As it is happening here (slowly, one bite at a time) I am teaming with like minded people and we are doing something about it. Got a meeting tonight with a state senator as a matter of fact. I think it's only a matter of time before politicians here who would support such matters will be committing more than political suicide. I sincerely hope that actions like we are taking (town hall type meetings) will turn the ship before that happens. I'd rather not see politicians die for their actions. Reasonable people should not have to resort to that. Decades ago the Nazis thought they could simply over run the Polish ghettos, they were wrong. The first time they were beat back by sticks and rocks. The second time they took a beating by way of captured German weapons. It took air strikes to quell the opposition. If I were in the Polish government I would look in to the face of those brave and strong people and think twice.
As the study below shows, ironically, our private pension system is a failure and benefits the wealthy for the most part. Hardly any Americans have pensions that will in any way be significant to their retirement.



Study: 401(k) retirement plans failing most workers - CBS News
 

Lamees

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Yeah!
I also have some savings for my future dream home. I want to build my dream home, hope to do it soon.
 

joG

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CalGun

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It is a reuters article not a capitalist blog.

Of course for the most part mainstream media is ignoring the topic; while Reuters maybe published an article non of the major news agencies have been airing much about it - at all.


I know too little about the polish situation, but that sounds like a very stupid piece of work. If it is as described, it will affect my views on Poland's economic prognosis quite negatively.
I think I will look into that.
 

ecofarm

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How about we protect the pensions, but leave the profiteers to clean up their own messes? Instead of subsidizing their mistakes at the cost of the workers.
A business could offer impossible pensions and drive itself into the ground to make all of its workers rich on the public dime.



My business provides a pension of 100k per year!

(and pays minimum wage)
 

joG

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It is a reuters article not a capitalist blog.

Of course for the most part mainstream media is ignoring the topic; while Reuters maybe published an article non of the major news agencies have been airing much about it - at all.
There is very little in the internet at first blush. It seems that the system now being changed, was implemented in 1999/2000. That is very short for a restart, which Reuters does seem to imply. So I will look further.
 

Vern

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CalGun

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"their the one's that caused the massive deficits"

Wow I knew leftist like to rewrite history and all but didn't realize they were so fascist about it too.


The future is now. It seems that there is prevalent republican narrative that social security is broke and we should cut benefits so as to reduce the deficit. and the funny thing is they're the ones that caused the massive deficits. But dont worry, SS cuts wont affect their constituents.

not that I need a link

2013 Social Security Trust Fund Reports Massive Deficits, Benefit Cuts
 

Vern

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"their the one's that caused the massive deficits"

Wow I knew leftist like to rewrite history and all but didn't realize they were so fascist about it too.
so I guess we dont want to discuss the similarities about whats going in Poland and the republican agenda. You seem concerned for the poles and expressed concern about it happening in this country. But now you want to whine about the facts I posted.

anyhoo, I dont get my facts from bumper stickers like you. the CBO revised the Bush 2009 budget deficit to 1.2 trillion on Jan 7,2009. In case you dont realize it, thats BEFORE PRESIDENT OBAMA TOOK OVER. and the deficit increased another 200 billion because of revenue collapsed even further

_____________1/7/09____actuals
Total Revenues__ 2,357__ 2,105
Total Outlays__ _ 3,543__ _ 3,518

CBO | The Budget and Economic Outlook: Fiscal Years 2009 to 2019
CBO | The Budget and Economic Outlook: Fiscal Years 2010 to 2020
 

vesper

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That won't happen here. Any politician who supported that in the US would be committing political suicide.
Don't be so sure about that one. The discussions have already been taking place within the leadership of the Democrat members of the House.
RALEIGH Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers personal retirement accounts including 401(k)s and IRAs and convert them to accounts managed by the Social Security Administration.
Dems Target Private Retirement Accounts

Guaranteed Retirement Accounts: Toward retirement income security | Agenda for Shared Prosperity

Redistribution of wealth is a fundamental belief in left ideology. Just ask Obama. Here is a link at YouTube of a radio interview in 2001 on how to ultimately achieve the fullness of Wealth Redistribution.

2001 Obama radio Interview, Chicago Public Radio WBEZ FM - YouTube

Oh and for the record the Congressman Miller Democrat from California that was holding meetings on the possibility of GRA's in 2008 is still a member of the House. It didn't seem to affect his re-election abilities.
 

Vern

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Don't be so sure about that one. The discussions have already been taking place within the leadership of the Democrat members of the House.
Oh vesper, your post is hysterical for two reasons (my spleen cant take it). 1 I've already proven that "discussions have already been taking place" . the republicans are saying SS is broke and we should cut benefits to reduce the deficit (and I posted a Heritage link you must read and obey). 2 You had to post a lying editorial to try 'craft your narrative'.

Q: Are congressional Democrats talking about confiscating IRA and 401(k) investment accounts?

A: No. There’s no plan to seize these accounts. One House witness at a committee hearing proposed to allow some people to trade their old accounts for a new type that would be less risky.

IRAs, 401(k)s and You

so vesper, if you and cal are so concerned about pension benefit cuts to reduce deficits, then why are you not mad at conservatives? wait, do you have special definition of "pension cuts" or "deficit" we should be aware of?
 

Vern

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and I should have posted this blurb from Factcheck

"FULL ANSWER

We’ve had many queries about this doozy. They all lead back to a Nov. 4 report posted by the Carolina Journal, a publication of the conservative John Locke Foundation of Raleigh, N.C. Its headline proclaimed, "Dems Target Private Retirement Accounts: Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs." The report is wrong. There’s been no such discussion."

And get this, I don't like their answer. The report was not wrong. It was a lie. There's a difference between being wrong and lying. I was wrong when I said New Orleans would cover the spread, I wasn't lying (stupid NO, cant win by a measly 3.5 points against a team that cant score) . But cons don't care as long as it tells them things they want to believe. The magic of delusion.
 
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