Getting specific on income/wealth inequality

[Redfish]

No one has explained why young families and retirees must have their retirement investments at the mercy of the Wall Street Casino bosses!

Given that it has become an abject failure for the majority of the Boomer generation the reintroduction of pension plans makes way more sense.

So on top of everything else, you also want your employer to provide for your retirement. Hey, why not.

Many people do just fine taking care of themselves and their retirement. Maybe we could promote the financial education of those who don't.

Again, I know that sounds crazy.

.

Define "many people" in hard numbers.

the majority, as in more than 51%

 

[Derideo_Te]

.

A corporation and its board have one (1) responsibility, one (1) task: To maximize shareholder value.

It's not to put food on your table, or to put your kid through school, or to pay your rent. That would be your responsibility. I can only imagine how crazy this sounds to some, but that's the way it works.

Now, as we continue our inexorable move towards a Euro-social democracy with an authoritarian central bureaucracy that will, no doubt, make life "fair" for everyone, we'll see several changes. I suspect Those Evil Corporations will have to place shareholder value on the back burner, for example. Don't be surprised to see that one within ten years.

Sure, shareholders include young families saving for retirement and senior citizens trying to live through retirement, but fuck them. Only "rich" people have retirement plans, and roads 'n bridges 'n stuff.

.

No one has explained why young families and retirees must have their retirement investments at the mercy of the Wall Street Casino bosses!

Given that it has become an abject failure for the majority of the Boomer generation the reintroduction of pension plans makes way more sense.

They don't. Most people have choices as to where to keep their money. In fact one can choose to keep all his retirement in a cash position if he wants.

You want to know who really screws retirees who have saved for decades?

The government. By taxing all the gains in a retirement as regular earnings the government is robbing retirees of years of income.

That is what the Roth IRA is for. Any gains in a Roth IRA are tax free because the income invested was taxed prior to investment.

The income used for a regular IRA is not taxed when it is invested in a 401K and is only subject to taxation when it is withdrawn as retirement income usually at a lower rate.

Essentially you are claiming that people should never be taxed on money they set aside for retirement.

 

[Redfish]

No one has explained why young families and retirees must have their retirement investments at the mercy of the Wall Street Casino bosses!

Given that it has become an abject failure for the majority of the Boomer generation the reintroduction of pension plans makes way more sense.

They don't. Most people have choices as to where to keep their money. In fact one can choose to keep all his retirement in a cash position if he wants.

You want to know who really screws retirees who have saved for decades?

The government. By taxing all the gains in a retirement as regular earnings the government is robbing retirees of years of income.

That is what the Roth IRA is for. Any gains in a Roth IRA are tax free because the income invested was taxed prior to investment.

The income used for a regular IRA is not taxed when it is invested in a 401K and is only subject to taxation when it is withdrawn as retirement income usually at a lower rate.

Essentially you are claiming that people should never be taxed on money they set aside for retirement.

pot, meet kettle

 

[Derideo_Te]

So on top of everything else, you also want your employer to provide for your retirement. Hey, why not.

Many people do just fine taking care of themselves and their retirement. Maybe we could promote the financial education of those who don't.

Again, I know that sounds crazy.

.

Define "many people" in hard numbers.

the majority, as in more than 51%

Now according to you the other 49% are just SOL that the Wall St Casino bosses stole their retirement funds and they can just live on cat food in their retirement. No wonder your party is losing support.

 

[Derideo_Te]

They don't. Most people have choices as to where to keep their money. In fact one can choose to keep all his retirement in a cash position if he wants.

You want to know who really screws retirees who have saved for decades?

The government. By taxing all the gains in a retirement as regular earnings the government is robbing retirees of years of income.

That is what the Roth IRA is for. Any gains in a Roth IRA are tax free because the income invested was taxed prior to investment.

The income used for a regular IRA is not taxed when it is invested in a 401K and is only subject to taxation when it is withdrawn as retirement income usually at a lower rate.

Essentially you are claiming that people should never be taxed on money they set aside for retirement.

pot, meet kettle

Non sequitur!

 

[Redfish]

That is what the Roth IRA is for. Any gains in a Roth IRA are tax free because the income invested was taxed prior to investment.

The income used for a regular IRA is not taxed when it is invested in a 401K and is only subject to taxation when it is withdrawn as retirement income usually at a lower rate.

Essentially you are claiming that people should never be taxed on money they set aside for retirement.

pot, meet kettle

Non sequitur!

sorry if the analogy was over your head

 

[Redfish]

Define "many people" in hard numbers.

the majority, as in more than 51%

Now according to you the other 49% are just SOL that the Wall St Casino bosses stole their retirement funds and they can just live on cat food in their retirement. No wonder your party is losing support.

The other 49% or 40% or whatever it is do not have their money in the "wall street casino". They probably had it in a saving account making 2% or less, or stuffed in a mattress.

If they are eating catfood then thats what we have churches and charities for, they do a much better job of helping people than the government.

Listen------------THE GOVERNMENT IS NOT YOUR MOMMA, THE GOVERNMENT IS NOT YOUR NANNY, THE GOVERNMENT DOES NOT EXIST TO BAIL OUT EVERY CITIZEN WHO MAKES A BAD DECISION OR IS TOO LAZY TO TAKE CARE OF HIMSELF. THE GOVERNMENT IS NOT RESPONSIBLE TO TAKE CARE OF ALL OF YOUR NEEDS FOR LIFE------------THAT IS YOUR RESPONSIBILITY.

 

[Derideo_Te]

pot, meet kettle

Non sequitur!

sorry if the analogy was over your head

No, you should apologize for failing to make an analogy. Your non sequitur was inappropriate since it bore no relation to anything in the thread whatsoever.

 

[Derideo_Te]

the majority, as in more than 51%

Now according to you the other 49% are just SOL that the Wall St Casino bosses stole their retirement funds and they can just live on cat food in their retirement. No wonder your party is losing support.

The other 49% or 40% or whatever it is do not have their money in the "wall street casino". They probably had it in a saving account making 2% or less, or stuffed in a mattress.

If they are eating catfood then thats what we have churches and charities for, they do a much better job of helping people than the government.

Listen------------THE GOVERNMENT IS NOT YOUR MOMMA, THE GOVERNMENT IS NOT YOUR NANNY, THE GOVERNMENT DOES NOT EXIST TO BAIL OUT EVERY CITIZEN WHO MAKES A BAD DECISION OR IS TOO LAZY TO TAKE CARE OF HIMSELF. THE GOVERNMENT IS NOT RESPONSIBLE TO TAKE CARE OF ALL OF YOUR NEEDS FOR LIFE------------THAT IS YOUR RESPONSIBILITY.

Thank your for disqualifying yourself from this topic since you have tacitly admitted to having zero facts and no clue as to what is being discussed. Have a nice day.

 

[Redfish]

Non sequitur!

sorry if the analogy was over your head

No, you should apologize for failing to make an analogy. Your non sequitur was inappropriate since it bore no relation to anything in the thread whatsoever.

You contradicted your earlier post and in effect agreed with what the other poster had said--------and you didn't even realize it. therefore my comment applies.

 

[Redfish]

Now according to you the other 49% are just SOL that the Wall St Casino bosses stole their retirement funds and they can just live on cat food in their retirement. No wonder your party is losing support.

The other 49% or 40% or whatever it is do not have their money in the "wall street casino". They probably had it in a saving account making 2% or less, or stuffed in a mattress.

If they are eating catfood then thats what we have churches and charities for, they do a much better job of helping people than the government.

Listen------------THE GOVERNMENT IS NOT YOUR MOMMA, THE GOVERNMENT IS NOT YOUR NANNY, THE GOVERNMENT DOES NOT EXIST TO BAIL OUT EVERY CITIZEN WHO MAKES A BAD DECISION OR IS TOO LAZY TO TAKE CARE OF HIMSELF. THE GOVERNMENT IS NOT RESPONSIBLE TO TAKE CARE OF ALL OF YOUR NEEDS FOR LIFE------------THAT IS YOUR RESPONSIBILITY.

Thank your for disqualifying yourself from this topic since you have tacitly admitted to having zero facts and no clue as to what is being discussed. Have a nice day.

Buh bye now, I realize that the truth is very hard for someone like you to deal with. So go bow down at your shrine to obama-the-magnificent and wait for your next govt welfare payment. Maybe the govt will move some illegals with lice into your spare room. dumbass

 

[Skull Pilot]

No one has explained why young families and retirees must have their retirement investments at the mercy of the Wall Street Casino bosses!

Given that it has become an abject failure for the majority of the Boomer generation the reintroduction of pension plans makes way more sense.

They don't. Most people have choices as to where to keep their money. In fact one can choose to keep all his retirement in a cash position if he wants.

You want to know who really screws retirees who have saved for decades?

The government. By taxing all the gains in a retirement as regular earnings the government is robbing retirees of years of income.

That is what the Roth IRA is for. Any gains in a Roth IRA are tax free because the income invested was taxed prior to investment.

The income used for a regular IRA is not taxed when it is invested in a 401K and is only subject to taxation when it is withdrawn as retirement income usually at a lower rate.

Essentially you are claiming that people should never be taxed on money they set aside for retirement.

Not everyone qualifies for a Roth IRA.

And I am essentially saying that capital gains should not be taxed at regular income rates simply because those gains occurred in a retirement account.

And there is also the issue of required withdrawals from retirement accounts. If you don't take out what the government tells you to every year you face steep tax penalties. It's all designed to squeeze as much tax dollars out of retirees as possible.

 

[Mac1958]

No one has explained why young families and retirees must have their retirement investments at the mercy of the Wall Street Casino bosses!

Given that it has become an abject failure for the majority of the Boomer generation the reintroduction of pension plans makes way more sense.

So on top of everything else, you also want your employer to provide for your retirement. Hey, why not.

Many people do just fine taking care of themselves and their retirement. Maybe we could promote the financial education of those who don't.

Again, I know that sounds crazy.

.

Define "many people" in hard numbers.

As you know, there is absolutely no way to quantify that figure. But as a financial advisor, I can tell you that I meet people every single week who have just been smart and humble and consistent with their little monthly investments and built themselves a nice nest egg for their retirement.

Will all of them be able to experience the lifestyle of the Kardashians? No. But they've done well and they're happy when I show them how well they've done and what their retirement will probably look like. They just kept at it and holy shit, one day, there they are.

Nothing special. No magic. They just took it upon themselves to plan ahead. Far more people could do that if they'd stop looking for someone else to take care of them and stopped making excuses and looked in the mirror instead.

And, as I said in the post you quoted, perhaps we could promote the financial education of those who don't know how to do it. No doubt many would rather just make excuses and depend on someone else, but sadly that's the condition of our culture right now.

.

 

[Bush92]

My brother is a cop,and each day (morning because he works nights) he returns home to his wife and daughter is a day won. I pray everyday for him. Now, this piece of garbage in St. Louis who attacked a peace officer, minutes after assaulting someone else, and then gets shot...really? It's common sense. Dude had to die or the officer was going to die.

 

[LoneLaugher]

My brother is a cop,and each day (morning because he works nights) he returns home to his wife and daughter is a day won. I pray everyday for him. Now, this piece of garbage in St. Louis who attacked a peace officer, minutes after assaulting someone else, and then gets shot...really? It's common sense. Dude had to die or the officer was going to die.

You've got quite an imagination.