Repubican capitalism made us rich, but liberalism stole the money!!!

[EdwardBaiamonte]

I would really love to check your numbers -- how did you came up with that 1.4 million figure?

figure an average person makes 40k and invests 15%
all his life at 5%
As I said Republican capitalism made us all rich but Democrats stole all the money

How long is his life? Does he make 40k right after high school graduation?

his life is average length. He makes average wage at start and end of career

 

[ilia25]

figure an average person makes 40k and invests 15%
all his life at 5%
As I said Republican capitalism made us all rich but Democrats stole all the money

How long is his life? Does he make 40k right after high school graduation?

his life is average length. He makes average wage at start and end of career

Well, your numbers are wrong. If you account for 3% inflation, the real return rate in you case would be only 1.5%, which translates into 380k after 45 years. Not bad, but it compares to what you get from SS in 25 years. And SS has benefits of being more reliable than any private investment, and covering those earning less than the average.

 

[EdwardBaiamonte]

How long is his life? Does he make 40k right after high school graduation?

his life is average length. He makes average wage at start and end of career

Well, your numbers are wrong. If you account for 3% inflation, the real return rate in you case would be only 1.5%, which translates into 380k after 45 years. Not bad, but it compares to what you get from SS in 25 years. And SS has benefits of being more reliable than any private investment, and covering those earning less than the average.

to stupid!! if you account for inflation than you have to account for it in terms of income invested and return on investment!!

 

[Seawytch]

http://m.nber.org//bah/summer04/w10466.html

 

[EdwardBaiamonte]

Social Security and Elderly Poverty

??????????????

 

[regent]

So how come people saved all their life and safely stashed their savings in their local bank. And lo and behold the depression hit and when the people went to the bank to draw out their life savings they were hit with "Bank Closed" signs. People lost it all, their life savings, everything; that was true Republican capitalism. Banks had invested people's deposits in the couldn't-lose-markets and the markets bombed, and the banks had lost the depositors money. So Democratic capitalism under FDR took over and people's savings were insured and banks could not invest people's savings in fly by night Republican capitalistic schemes. Have Republicans now had another crack at banks investing people's savings in can't-lose-schemes, and will the government now reimburse the banks for losses?

 

[EdwardBaiamonte]

So how come people saved all their life and safely stashed their savings in their local bank. And lo and behold the depression hit and when the people went to the bank to draw out their life savings they were hit with "Bank Closed" signs. People lost it all, their life savings, everything; that was true Republican capitalism.

you say it was true but we know you're a liberal fool. Today Republicans and Democrats agree on deposit insurance, and Federal Reserve Discount window, etc etc.

Banks had invested people's deposits in the couldn't-lose-markets

couldn't lose????? If someone said that he was obviously an idiot in light of recent history

So Democratic capitalism under FDR took over

And we had 10 years of depression and 5 years of world war!!! 70 milion dead!!! Can you conceive of how stupid and brainwashed you have to be???

 

[g5000]

If an average America put 15% of his lifetime income at 4-6%( AT&Tor Verizon) in a private account he'd retire with $1.4 million estate as opposed to no ($0) estate with libturd SS!! Repubican capitalism made us rich, but liberalism stole the money!!!

Its just another a huge huge liberal scandal!!

Innumeracy abounds!

Jesus.

15% OF HOW MUCH will get you $1.4 million AFTER HOW MANY YEARS at 4 to 6%, dipshit? You should have baked this formula a little longer in your ass before excreting it half done.

And how does that $1.4 million compare to what someone collects from Social Security and Medicare between age 65 until their death who earned that identical income?

 

[JakeStarkey]

Americans were not rich during the days of the Morgans, Rockefellers, etc.

The enriching of the American middle class came after WWII with rising wages, union empowerment, and the GI bills.

 

[g5000]

Invest 15% of your income in your 401k. Then wait a few decades. Then, just before you retire, your 401k manager invests in a Goldman Sachs fraudulent CDO-squared, an AIG credit default swap scheme, and a Lehman Brothers floater. Then the whole economy tanks, taking your nest egg with it.

That's MUCH better!

 

[g5000]

If an average America put 15% of his lifetime income at 4-6%( AT&Tor Verizon) in a private account he'd retire with $1.4 million estate as opposed to no ($0) estate with libturd SS!! Repubican capitalism made us rich, but liberalism stole the money!!!

Its just another a huge huge liberal scandal!!

I would really love to check your numbers -- how did you came up with that 1.4 million figure?

figure an average person makes 40k and invests 15%
all his life at 5%
As I said Republican capitalism made us all rich but Democrats stole all the money

The only way to get to $1.4 million dollars over a 25 year working life, you would have to earn $40,000 a year right out of the gate. How many 20 year olds do you know who earn that much? And how many can afford to plunk down $6,000 a year into their investments?

You would have to invest $6,000 a year for 25 years, and earn a rock steady 6% a year for that entire period to net $1.4 million. How many people can afford to do that for even one year, much less 25 years, at any time during their working life?

How many people would if there was no Social Security?

 

[EdwardBaiamonte]

The only way to get to $1.4 million dollars over a 25 year working life,

dear, we start work at 20 and retire at 65; thats 45 years, not 25 years!! Sorry

 

[EdwardBaiamonte]

Invest 15% of your income in your 401k. Then wait a few decades. Then, just before you retire, your 401k manager invests in a Goldman Sachs fraudulent CDO-squared, an AIG credit default swap scheme, and a Lehman Brothers floater. Then the whole economy tanks, taking your nest egg with it.

That's MUCH better!

even that would be better than letting a government $16 trillion in debt with $100 trillion unfunded liabilities steal it in return for dog food money!!

 

[EdwardBaiamonte]

How many people would if there was no Social Security?

dear, if Social Security can be mandatory so private accounts can be too!

You must see why we are 100% positive a liberal will be slow?

 

[JakeStarkey]

dear, we see why you are so slow.

We will stick with SS.

 

[JakeStarkey]

dear, you are silly.

 

[Yurt]

i know

 

[EdwardBaiamonte]

XXXXXXX

Jake is a very serious thinker. I'm so surprised he doesn't get more respect.

 

[JakeStarkey]

Jake is a very serious thinker. I'm so surprised he doesn't get more respect.

Exactly what we expect from a neo-Austrian libertarian, dear.

 

[regent]

So how come people saved all their life and safely stashed their savings in their local bank. And lo and behold the depression hit and when the people went to the bank to draw out their life savings they were hit with "Bank Closed" signs. People lost it all, their life savings, everything; that was true Republican capitalism.

you say it was true but we know you're a liberal fool. Today Republicans and Democrats agree on deposit insurance, and Federal Reserve Discount window, etc etc.

Banks had invested people's deposits in the couldn't-lose-markets

couldn't lose????? If someone said that he was obviously an idiot in light of recent history

So Democratic capitalism under FDR took over

And we had 10 years of depression and 5 years of world war!!! 70 milion dead!!! Can you conceive of how stupid and brainwashed you have to be???

If Republicans were for FDIC why didn't they introduce it? The Republicans had four long depression years under Hoover, in those long depression years Republicans had ample time to introduce an FDIC policy. In fact they had ample time to introduce scads of legislation to combat the depression. What did Republicans suggest for those four long years, two chickens in every pot, and that Americans were rugged.
I think Democrats passed more meaningful legislation in FDR's first 100 days than Republicans passed in their four Hoover years, maybe in fifty Republican years? As for FDR's war, America won, and FDR ended up rated as America's greatest president.