Speaking of retirement…

jld wrote:

<div class=”d4p-bbt-quote-title”>sji wrote:</div>
No one cares more about your retirement than you. Do what you can to prepare for it. Taxes go up and taxes go down, but no one is coming to take your money from you.

Don’t be so sure about that. There are trillions of dollars sitting in both pre and post tax retirement accounts that a few extreme Democratic nominees would like to get ahold. If they believe you have saved too much they may feel the need to re-distribute it for you.

Interesting, while I do not align myself strictly with any one party I tend to vote with what is best for the nation as a whole. I can’t say that I have ever heard any candidate from any party say they want to take your retirement savings from you.
Could you please confirm your sources so I can read these statements.

Eelpoutguy wrote:

52 – 48 our retirement is safe for another 4 years.

Call me Rip! How long have I been asleep? Had no idea terms were now 7 years long.

If you plan right, SS can be your fishing money and not something to depend on to support yourself.

“
Don’t be so sure about that. There are trillions of dollars sitting in both pre and post tax retirement accounts that a few extreme Democratic nominees would like to get ahold. If they believe you have saved too much they may feel the need to re-distribute it for you.”

LOL, No they don’t want to take from people that saved too much, those people aren’t rich enough.

Think the class of people who’s sole income has come from capital gains, think about their children who have never had to work or will never have to. Then you’re getting close. If you earn an income, you arent the target. If your wealth is gained/maintained passively and always has been then you’re a target. Idle capital is bad for everyone.

Interesting, while I do not align myself strictly with any one party I tend to vote with what is best for the nation as a whole. I can’t say that I have ever heard any candidate from any party say they want to take your retirement savings from you.
Could you please confirm your sources so I can read these statements.
[/quote]

Read my lips – (then between the lines)
Medicare-for-all, single payer system.
Tuition free college.
Government subsidized Child care.

Google can confirm the sources.

Drizzy Musky wrote:

LOL, No they don’t want to take from people that saved too much, those people aren’t rich enough.

Think the class of people who’s sole income has come from capital gains, think about their children who have never had to work or will never have to. Then you’re getting close. If you earn an income, you arent the target. If your wealth is gained/maintained passively and always has been then you’re a target. Idle capital is bad for everyone.

And who are they coming after, once they have properly looted the top 1% and we are still swimming in debt? FWIW the top 1% of Net Worth in the US is assets over $10M.

http://www.forbes.com/sites/jackkelly/2019/10/22/the-number-of-millionaires-has-boomedheres-where-your-net-worth-ranks-compared-to-others/#621c424e576f

Drizzy Musky wrote:

“
Don’t be so sure about that. There are trillions of dollars sitting in both pre and post tax retirement accounts that a few extreme Democratic nominees would like to get ahold. If they believe you have saved too much they may feel the need to re-distribute it for you.”

LOL, No they don’t want to take from people that saved too much, those people aren’t rich enough.

Think the class of people who’s sole income has come from capital gains, think about their children who have never had to work or will never have to. Then you’re getting close. If you earn an income, you arent the target. If your wealth is gained/maintained passively and always has been then you’re a target. Idle capital is bad for everyone.

Drizzy man, we should be friends!!

If anyone on here thinks they are the target of some of the more progressive agendas laid out by someone like Bernie Sanders, then you don’t understand what they are proposing and you are falling hook line and sinker into what the ‘news’ sources are telling you(FOX, CNN, MSNBC, ALL OF THEM).

That is propaganda at it’s finest, and it’s obviously working.

Unless of course we have some folks on here with a net worth of hundreds of millions plus, in which case, yes, maybe you are actually being targeted.

It takes 1000 Billionaires to make 1 Trillion dollars
It takes 1 Million Millionaires to make 1 Trillion dollars

Some of these “programs” are estimated to cost 10’s of Trillions of dollars per year. If they took ALL of the Billionaire’s money, it might fund this stuff for maybe 6 months.

Who do you think they come after next? The simple fact is that there aren’t enough rich people, so they always bleed the middle class.

S.R.

Steve Root wrote:

It takes 1000 Billionaires to make 1 Trillion dollars

Actually, it currently only takes 18 billionaires to make a trillion… you know they aren’t capped at 1 billion a piece right?

Some of these “programs” are estimated to cost 10’s of Trillions of dollars per year.

Name one. I think you are missing the “over 10 years” part after whatever cost you see.

https://www.npr.org/2019/11/01/775339519/heres-how-warren-finds-20-5-trillion-to-pay-for-medicare-for-all

OK, 20.5 Trillion over 10 years is still over 2 trillion per year. Where’s that going to come from?

S.R.

Steve Root wrote:

https://www.npr.org/2019/11/01/775339519/heres-how-warren-finds-20-5-trillion-to-pay-for-medicare-for-all

OK, 20.5 Trillion over 10 years is still over 2 trillion per year. Where’s that going to come from?

S.R.

https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical

We spent 3.6 trillion on healthcare in 2018. Instead of paying that out of pocket we’d pay it in taxes instead.

Steve Root wrote:

Who do you think they come after next? The simple fact is that there aren’t enough rich people, so they always bleed the middle class.

S.R.

The simple fact is that the ultra rich drop exorbitant amounts of cash supporting politicians to ensure legislation DOES bleed the middle class, instead of them.

And you wouldn’t just ‘take all of their money all at once’, taxes kind of happen every year.

If I have to choose between:

Group A: wants to properly tax ultra-rich to help pay for social programs that will help ALL Americans(healthcare, education, etc.). Risk: may see some increase in taxes for middle class which should be MORE than offset by decrease in healthcare/education out of pocket costs. ie: lets say your taxes go up by $1000 a year, but you are paying $5000 less out of pocket for healthcare premiums, LOOK AT TOTAL COSTS. ‘But your taxes will go up’ is a ridiculous and transparent scare tactic. If I said that your parking fee at work is going to go up by $10 a day, but we are going to pay you an extra $50 a day, would you be happy? Or would you say, “BUT PARKING WENT UP!”

Group B: Wants to continue to plunder the lower and middle classes, their next target is the lower and middle classes. But then, after dipping into that kitty a couple times, they will start to focus on the lower and middle classes before finally, they decide it’s best to hoard wealth at the top fraction of a %, so we need to crack down on the lower-lower class, lower class and middle class one more time. Finally, wealth needs to trickle down, so we will cut corporate taxes some more.

I think I choose group A like 1000 times out of 1000.

Phil you are right on!

Also, in the absence of higher taxes we currently deficit spent via issuing bonds. The richest Americans then benefit twice, capital is not taxed, and they get to reap the benefits of owning government debt (yes the return on bonds isn’t great but the interest is still enough to live on if you own 500MM worth)

Simply put the money is there, right now we are paying the richest citizens, sovereign wealth funds, Pensions, and Financial institutions to finance projects. Instead of paying for it upfront which is a much cheaper solution, but unpopular with the monied class (obviously) and unpopular with those who don’t understand the true disparity in wealth in this country (the temporarily embarrassed millionaires among us) . If you are worth 10million you are still not the target.

philtickelson wrote:

The simple fact is that the ultra rich drop exorbitant amounts of cash supporting politicians to ensure legislation DOES bleed the middle class, instead of them.

Top Organization Donations: http://www.opensecrets.org/orgs/list.php?id=
Top Individual Donations: http://www.opensecrets.org/overview/topindivs.php

If your premise is exorbitant donations = corrupt political party, I’m sure President Trump will appreciate your support this fall. (and yes this is a joke, since both parties take in a ton of brib…”donations”).

Werm thats why it’s important to emphasize class, not party. Our political system is for the rich. Thats whose voice gets heard, that who politicians seek to appease, regardless of party.

Wow, this derailed.

Actually seized retirement funds: Argentina – source Wall St. Journal 2008; Russia – source Bloomberg 2014.

2008 US House hearings on scrapping 401k. 2011 & 2013 US Dept. of Treasury “borrowed” from Fed. Employee Pension. Obama proposed capping “Retirement Accounts” at $3MM. Source – Dave Ramsey blog.

Which party is for private property, private enterprise? Which is for gov’t run and gov’t owned? Could never happen here? Time will tell…