Get ready for 401(k) and IRA tax deductions to be singled out as tax breaks for rich white people.
They will be on medicaid to pay their nursing home costs.
Poor people have poor ways.
Another big problem is that the boomers were a prosperous bunch, but they are being replaced by a much less prosperous generation.
Dishwashers, burger flippers and gardeners are going to have a hard time supporting retiring boomers.
(And in Obama’s economy, many whites have no retirement savings as well...so why paint whites as the exception, oh MSM?)
It’s hard to win The War On Poverty when the government keeps bringing in millions of reenforcements for the other side.
You mean SNAP and food stamps doesn’t translate into IRAs? I’m shocked, I tell ya, shocked.
There will be no retirement for the vast majority soon (especially if your ex gets 3/4 of yours in the divorce).
Work till you drop or die early.
“Meanwhile, a host of state and local governments have been cutting back on pension benefits for public employees, saying they cannot afford their long-term cost.
Such public employee pensions, which typically pay a fixed benefit for life, have been of particular help to African Americans, who make up a disproportionate share of government workers. Similarly, trimming retirement benefits will disproportionately hurt the retirement prospects of black workers, even as they struggle with lower housing values and homeownership rates than whites.”
So now the unions will argue that bankrupt Detroit cannot trim their pensions because it is racist.
They DO have retirement plans; make whitey pay.
Some truth would help all involved here. The statement begs three immediate questions. How many work in government, how many work in private employment and how many do not work? Since we know all the govt. workers have class A retirement opportunities lets take them out. Then figure out what the savings rates are of the the cohort with private sector employment. My bet is that folks that work save at the same rate as other folks that work regardless of ethnicity. Which leaves those that do not work. For them, what are they really retiring from ? How could they save at a comparable rate if they don’t work in the first place?
Why should they save? Whitey will share. He’s been doing it since LBJ days, and now that BHO is in charge of the government and immigration, he’ll have to do it some more.
The Cyprus bank takeover by government was just the start. Don’t think the lefties in this country didn’t take notice. They want to go after that pile of money called 401ks so badly. I guarantee before I start drawing on my retirement savings, they will be trying to get their hands on it.
Once upon a time, there was an ant and a grasshopper. The ant worked hard every day storing up food for the winter. The grasshopper played his fiddle and had a good time and did not store up food for the winter. Winter came. The grasshopper went to the government and said, “Give me some of the ant’s food.” The government took food from the ant by threatening to throw the ant into prison if he didn’t give them food for the grasshopper. This went on for several years, and there were more and more grasshoppers playing their fiddles in the summer and eating the ant’s food in the winter. Finally, the ant had no food left for himself and starved to death in the winter. The moral of the story is: Screw the Democrats. Let them eat grasshoppers.
All arguments for immigration are stupid.
To this headline... SO, they can work until they drop like the rest of us. Tough.
My give a damn busted a long time ago.
Why should they save? They already know that those who do will have their savings redistributed to those who don’t.
Obama will pay for it out of his stash
It’s so unfair!! We need some more gubmint sponsored plunder!!
Next up, it’s so unfair that Hispanics and blacks don’t own houses. . .
I would bet that sometime in my lifetime 401’s and IRA’s will be rolled into some sort of Social Security fund promising to provide benefits to everyone evenly and fairly. That is why I cashed mine out long ago and put it into real estate.