Posted on 02/22/2023 9:16:55 AM PST by SeekAndFind
Ever heard of TIAA-CREF going broke?
> Then raid/ appropriate all 401k accounts. <
There was talk awhile back of allowing the government to seize tax-advantaged accounts, and replacing whatever you have in them with long-term government bonds paying 2% or so.
It’s not theft, see? You’re losing any money. You’re just changing investments.
Thankfully, that idea went nowhere. For now.
Quadrillion dollar deficit? Who cares?
Sorry, a typo in my post #22. It should read:
It’s not theft, see? You’re NOT losing any money. You’re just changing investments.
Medicare/Medicaid is waiting in the wings to take down the entire economy. Medicare already pays out more that it collects in taxes. Medicaid is completely unfunded by specific taxes. Both programs are expanding eligibility rolls and seeing costs go up exponentially for service delivery.
Mandatory mRNA treatments for healthcare providers are also reducing their ranks. Healthcare costs can easily double in a few more years. Or availability can vanish. Or both.
Killing off the boomers is not going to help you.
I absolutely think that they will make this cash grab. (raiding/ nationalizing 401k’s) rolling all private 401ks into SS. Under the guise of taxes.
They may do something like jack up the taxes on withdraw/ disbursement or add some sort of Gov Oversight fee. Then offer a Gov “tax free” no “oversight penalty” option if rolled into a “gov managed” account.
of course, this would only be private 401ks. Gov/ Union pension funds will remain untouched.
There's a reason liberals won't tell you...
Galveston County: A Model for Social Security Reform
http://www.ncpathinktank.org/pub/ba514
The democrats in congress during Ronald Reagan’s term raised the age to retire and blocked any future private investment that was already being done in places like Galveston, Texas where the monthly checks were much higher. See articles below about the plan from 1981.
Congress steals the social security money outright and leaves an IOU and little money for you every month.
How Three Texas Counties Created Personal Social Security Accounts and Prospered
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/?sh=5e84d0373283
Excerpt: And those who retire under the Galveston model do much better than Social Security. For example:
A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
I have what is now a dim memory of an editorial during Johnson’s time saying that the FICA tax needed to increase to 8% to fund Medicare.
Using logic and actual real world examples on liberals! Where is your compassion, man?
Social Security had a huge amount of dollars saved when Democrats decided to steal the money for their programs and said that future SS payees will cover the losses. BS. Leave SS alone and cancel other programs. Put all the money back into the SS fund, kept separate from the general fund.
Agreed.
Oh yeah Galveston was great, and Chile was also a giant success story the same way.
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