Nationalize Retirement Accounts

[Vast LWC]

The government isn't trying to "nationalize" retirement accounts... at all.

The entire premise of this thread is yet another conspiracy theory, brought to you by right wing conspiracy theorists.

Not to be confused with "Ancient Alien Theorists", as "Ancient Alien Theorists" are generally more credible.

 

[Vast LWC]

In the real world, the only thing Richard Cordray was referring to was having the Consumer Protection Bureau keep an eye out for fraud in relation to retirement accounts, just like they've been doing with credit cards.

Of course, far right-wings nut-jobs, like the people who make up the majority of the staff at "The Washington Times" take this to mean that the government is planning to steal your retirement account to pay off the national debt.

 

[ilia25]

SS is not a wealth distribution system. It is a retirement system where what you receive in retirement is a function of what you contribute.

And that function ensures that the poor benefit from SS disproportionally:
The USA TODAY Lifetime Social Security and Medicare Benefits Calculator: Assumptions and Methods

Probably. But it is not a wealth redistribution system.

Yes, it is. It takes from the rich and gives to the poor -- that is what "benefiting disproportionately" means.

 

[Toro]

And that function ensures that the poor benefit from SS disproportionally:
The USA TODAY Lifetime Social Security and Medicare Benefits Calculator: Assumptions and Methods

Probably. But it is not a wealth redistribution system.

Yes, it is. It takes from the rich and gives to the poor -- that is what "benefiting disproportionately" means.

That is wrong. There is no transfer of wealth. It works like an annuity investment system whereby you receive a formulaic amount in retirement based on the amount of FICA taxes you paid during your working life. You make less in your career, you get less in retirement, and vice-versa.

 

[Jarlaxle]

I would like an opt out for SS. You can stay with the safety and simplicity of SS, or you can opt out and invest it to retire much more well off.

SS is redistributing system -- the wealthy pay for the poor. Thus letting the rich to opt out would leave the poor with greatly reduced benefits -- then why have SS in the first place?

SS is not a wealth distribution system. It is a retirement system where what you receive in retirement is a function of what you contribute.

No, actually, it's the world's longest-running Ponzi scheme, no more and no less.

 

[Rozman]

The Obama administration also said that Obama Care wasn't a tax.....
Well it wasn't until it was....

Just a matter of time before the Democrats lust for money to spend gets the better of them.
They will confiscate our retirement accounts...
After all who knows better how to spend our money then government.

 

[MisterBeale]

 

[Erand7899]

Listen to Republicans and the entire country can be as poor as the Republican base.

The entire country should be so lucky.

 

[Skull Pilot]

The government isn't trying to "nationalize" retirement accounts... at all.

The entire premise of this thread is yet another conspiracy theory, brought to you by right wing conspiracy theorists.

Not to be confused with "Ancient Alien Theorists", as "Ancient Alien Theorists" are generally more credible.

No some government hack just floats it out there that the fucking government wants to "help manage" 401k plans

That alone should scare the ever loving shit out of anyone with a 401k

http://www.bloomberg.com/news/2013-01-18/retirement-savings-accounts-draw-u-s-consumer-bureau-attention.html

That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.