Why are Democrats against workers accumulating $500,000???

[healthmyths]

Democrats 2012 Democratic National Platform
http://assets.dstatic.org/dnc-platform/2012-National-Platform.pdf
States ..."We will block Republican efforts to subject Americans’ guaranteed retirement income to the whims of the stock market through privatization."

Why are Democrats afraid of people putting their payroll taxes into their local bank?
This is one of many options that "privatizing" social security would be available to the average worker!

So why are Democrats afraid of letting the "people" choose if they want to have the total paid in of a 25 year old worker for 40 years at 15.3% of wages put into their local bank which would pay over 40 years an average of 2%.
Why are Democrats afraid of the little people as they call them, see the payroll taxes paid over 40 years of $378,000 accumulate at a modest 2% rate to $521,194?
Why are they afraid of letting the little people when from age 25 to age 45 accumulate in the "risky stock market" that has averaged over 70 years 6%, then at age 45 split
into less risky at say 4% and then at 65 at US treasury certificates at 2%?

Why are the Democrats afraid of an "educated little worker" who accumulates doing the above..$858,007?
Buying a $500,000 annuity guaranteeing for life a payment of $2,642 per month and using the remaining $358,000 for health care and dies after age 75.
After using $200,000 over the years for health care leaves $150,000 for his family!

SO why do democrats hate the possibility that anyone under age 55 can have the choice of remaining in the current program or the choice of determining where
the payment of $378,000 deducted from his wages and from Employer will be invested? Local bank or "risky stock market" let the individual choose!
Why do Democrats hate the freedom of choice for the "little worker"???
https://www.tsp.gov/planningtools/annuities/annuityCalc_results.shtml

 

[healthmyths]

By the way...
The long-term, more than 100-year performance: Since 1900 (end-of-year 1899), through 2012, I estimate the average total return/year of the DJIA (Dow Jones Industrial Average) was approximately 9.4% -- 4.8% in price appreciation, plus approx 4.6% in dividends. (Some numbers may not add up due to rounding.)
Observations: Average Stock Market Return Since 19xx (thru 2012)
Using that figure of the RISKY StOCK MARKET over 100 years of 9.4%..
the average little people worker putting $378,000 for 20 years at 9.4% moving to less risky at 4% for remaining 20 years means the little worker
would have accumulated $1,106,236. Buying an $700,000 annuity provides $3,699 per month for a guaranteed lifetime!
Leaving $400,000 for medical expenses and if dies spending $200,000 leaves an estate of $200,000 for heirs...
Why are the Democrats against that???

 

[g5000]

Too many people would invest their money in crackpot schemes, end up broke in their old age, and then demand the Federal government support them anyway.

Too many people would not invest any money at all, end up broke in their old age, and then demand the Federal government support them anyway.

There are people in this forum who are so stupid I sometimes wonder how they manage to get oxygen into their mouths, much less know how to wisely handle their investments.

 

[Soggy in NOLA]

Ya gotta love the one-per-centers convincing their minions to hate the other one-per-centers.

 

[healthmyths]

Oh and for you people that think I'm making these numbers up..
simple spreadsheet with assumptions that:
Age 25 worker paid $30,000 36 paid $36,000 and so forth till age 60 $107,000 maximum that SS/Medicare taxes are paid and matched.
That accumulates $378,654 paid in from employee and employer over 40 years.
It is NOT inflation adjusted as the salary would also be inflation adjusted.

So why are the Democrats hating the fact an ordinary worker can accumulate at least $500,000 that is the little worker's OWN???

 

[g5000]

Oh and for you people that think I'm making these numbers up..
simple spreadsheet with assumptions that:
Age 25 worker paid $30,000 36 paid $36,000 and so forth till age 60 $107,000 maximum that SS/Medicare taxes are paid and matched.
That accumulates $378,654 paid in from employee and employer over 40 years.
It is NOT inflation adjusted as the salary would also be inflation adjusted.

So why are the Democrats hating the fact an ordinary worker can accumulate at least $500,000 that is the little worker's OWN???

I bolded and enlarged the part that makes an ass out of you and me.

 

[C_Clayton_Jones]

Why are Democrats against workers accumulating $500,000???

They’re not, provided every worker can indeed have that available to him come retirement, along with health insurance.

But that’s not how the real world works for middle and low income Americans, where the relatively small amount of tax savings would be used for emergencies and other living expanses.

The genius of the Social Security Act was its understanding of human nature, and human failings. Society has a right through various government programs to protect itself from those who are unable or unwilling to save for retirement, thus avoiding the destruction of human lives seen in the wake of the Great Depression.

Conservatives have contrived this myth that workers are ‘losing out’ on money as a consequence of Social Security, when the facts indicate the opposite.

We must reject the ignorant fiscal dogma of the right and maintain the current system that has worked so well over the decades.

 

[g5000]

Many state level public employees are not eligible for Social Security. Their public employee retirement systems replace Social Security.

And those retirement systems made quite a few assumptions. Quite a few.

Now they are blowing up, and states are having to raise income and sales taxes to cover the incredible shortfalls.

Illinois, Calfornia, New York, Connecticut. And one day, your own state will, too.

 

[Dutch]

Democrats 2012 Democratic National Platform
http://assets.dstatic.org/dnc-platform/2012-National-Platform.pdf
States ..."We will block Republican efforts to subject Americans’ guaranteed retirement income to the whims of the stock market through privatization."

Why are Democrats afraid of people putting their payroll taxes into their local bank?
This is one of many options that "privatizing" social security would be available to the average worker!

So why are Democrats afraid of letting the "people" choose if they want to have the total paid in of a 25 year old worker for 40 years at 15.3% of wages put into their local bank which would pay over 40 years an average of 2%.
Why are Democrats afraid of the little people as they call them, see the payroll taxes paid over 40 years of $378,000 accumulate at a modest 2% rate to $521,194?
Why are they afraid of letting the little people when from age 25 to age 45 accumulate in the "risky stock market" that has averaged over 70 years 6%, then at age 45 split
into less risky at say 4% and then at 65 at US treasury certificates at 2%?

Why are the Democrats afraid of an "educated little worker" who accumulates doing the above..$858,007?
Buying a $500,000 annuity guaranteeing for life a payment of $2,642 per month and using the remaining $358,000 for health care and dies after age 75.
After using $200,000 over the years for health care leaves $150,000 for his family!

SO why do democrats hate the possibility that anyone under age 55 can have the choice of remaining in the current program or the choice of determining where
the payment of $378,000 deducted from his wages and from Employer will be invested? Local bank or "risky stock market" let the individual choose!
Why do Democrats hate the freedom of choice for the "little worker"???
https://www.tsp.gov/planningtools/annuities/annuityCalc_results.shtml

You must of never heard of Enron. You know the private sector you are babling on about, where people lost their retirements on what they thought were sound investments. Throw in Bernie Madoff for good measure.

 

[healthmyths]

Too many people would invest their money in crackpot schemes, end up broke in their old age, and then demand the Federal government support them anyway.

Too many people would not invest any money at all, end up broke in their old age, and then demand the Federal government support them anyway.

There are people in this forum who are so stupid I sometimes wonder how they manage to get oxygen into their mouths, much less know how to wisely handle their investments.

Boy you really are down on the average american aren't you?
You obviously are one of those effete elitist snobs who thinks the AVERAGE American is a boob!
"Over the past two decades, 401(k) accounts have become the dominant form of retirement plan for American workers, covering 70 million people and representing $2.8 trillion in assets in 2006 (U.S. Dept. of Labor (2008)).

And so you think that at least 70 million people WOULDN"T love to have had ALL their payroll taxes put into an account SIMILAR to what they do with their 401K???
YOU think that 70 million people are boobs???

Again... YOU stupid hyperbolic "too many" WHAT too many???
They would have NO ACCESS to the money.
They would have ACCEPTED places to put!
YOU can't use your 401K to invest in idiots like you who think the porno site is a good investment!
There would be restrictions as to where and what you can invest in..
local banks fine.. buy gold sure! Buy treasury bills.. of course!
So again what makes yOU be so pompous as to denigrate the average American... What a dick head!!!

 

[Dutch]

With the recent stock market crash, people who were about to retire lost millions in their 401k accounts. 20% of their value in most cases.

 

[g5000]

Too many people would invest their money in crackpot schemes, end up broke in their old age, and then demand the Federal government support them anyway.

Too many people would not invest any money at all, end up broke in their old age, and then demand the Federal government support them anyway.

There are people in this forum who are so stupid I sometimes wonder how they manage to get oxygen into their mouths, much less know how to wisely handle their investments.

Boy you really are down on the average american aren't you?
You obviously are one of those effete elitist snobs who thinks the AVERAGE American is a boob!
"Over the past two decades, 401(k) accounts have become the dominant form of retirement plan for American workers, covering 70 million people and representing $2.8 trillion in assets in 2006 (U.S. Dept. of Labor (2008)).

In 2006.

And what were those assets worth at the end of 2008, genius?



401(k) losses: Older investors' retirement funds hit hard

Older Americans are watching their retirement savings evaporate as the economy slumps and the stock market falters. John Hansen, 54, has lost 35% to 40% of his 401(k) savings and, like many close to retirement, says he has few options.

Today, 401(k) plans are the major source of retirement income for millions of Americans. The bear market underscores their risks.

"We're seeing that those funds were never guaranteed, that the stock market can go down and stay down and that the fees can erode earnings and contributions so that people end up with less than they put in," says Teresa Ghilarducci, professor of economics at the New School for Social Research in New York.

Recently, General Motors said it would suspend its matching contribution to the 401(k) plan for its salaried employees. "All the risks and responsibilities are on the individuals in 401(k) plans," says Karen Friedman, policy director at the Pension Rights Center, an advocacy group.

Among their options:

• Work longer. Alex Dudas, a manufacturing engineer in Torrance Calif., who is 61, says that he will now have to work longer before he can retire because his retirement plans are down about 43%.

 

[g5000]

Also from that same article:

Workers often don't save enough. Nearly 43% of workers over age 55 have less than $50,000 in savings and investments, according to a survey released last April by the Employee Benefit Research Institute.

Just as I said.

 

[rightwinger]

Nothing stops workers from investing in 401Ks or IRAs

They are encouraged to do so and receive a tax benefit as well as often matching funds from their employer

 

[g5000]

Nothing stops workers from investing in 401Ks or IRAs

They are encouraged to do so and receive a tax benefit as well as often matching funds from their employer

If they did not have to contribute to Social Security, they would have an additional 3 percent of their income to put into their 401k, or spend on hookers and blow. Whatever they wish.

 

[g5000]

So how did our half million dollar man do in 2008?

Retirement account losses in 2008 disproportionately affected wealthy savers. Those with more than $200,000 lost more than a quarter of their savings, on average, according to an Employee Benefit Research's Institute analysis of 22 million participants in more than 55,000 employer-sponsored 401(k) plans. Investors in the $100,000 to $200,000 range suffered as well, with an average loss of 21 percent in 2008. The typical account with $50,000 to $100,000 lost 15 percent.

How Did Your 401(k) Really Stack Up in 2008? - US News and World Report

 

[healthmyths]

Oh and for you people that think I'm making these numbers up..
simple spreadsheet with assumptions that:
Age 25 worker paid $30,000 36 paid $36,000 and so forth till age 60 $107,000 maximum that SS/Medicare taxes are paid and matched.
That accumulates $378,654 paid in from employee and employer over 40 years.
It is NOT inflation adjusted as the salary would also be inflation adjusted.

So why are the Democrats hating the fact an ordinary worker can accumulate at least $500,000 that is the little worker's OWN???

I bolded and enlarged the part that makes an ass out of you and me.

So you don't think the AVERAGE worker at 25 college degree makes $30,000 and doesn't get pay increases until age 65?

What other assumptions are ass making worthy?

HERE check out the FACTS you dumb ass!!!

The report titled "The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings" (.pdf) reveals that over an adult's working life,
high school graduates can expect, on average, to earn $1.2 million;
those with a bachelor's degree, $2.1 million; and
people with a master's degree, $2.5 million.
Persons with doctoral degrees earn an average of $3.4 million during their working life, while those with professional degrees do best at $4.4 million.
"At most ages, more education equates with higher earnings, and the payoff is most notable at the highest educational levels," said Jennifer Cheeseman Day, co-author of the report.

The figures are based on 1999 earnings projected over a typical work life, defined as the period from ages 25 through 64.
Lifetime Earnings Soar with Education – How a Higher Education Leads to Higher Lifetime Earnings

at this was 1999 earnings: Dumb fu...K
My age 25 to 65 gross income MY assumptions:life time work :$2.5 million at current salary $30,000 in 2013.. 14 years later then the above figures.

Given inflation rate of 2% over 14 years would make MY starting salary at $38,000 but I lowballed by starting at $30,000!
So starting at $30,000 given raises at 20% every 5 years.. the average college educated worker would have paid in $378,000!

AGAIN where are MY ASS WORTHY ASSUMPTiONS???

 

[g5000]

Oh and for you people that think I'm making these numbers up..
simple spreadsheet with assumptions that:
Age 25 worker paid $30,000 36 paid $36,000 and so forth till age 60 $107,000 maximum that SS/Medicare taxes are paid and matched.
That accumulates $378,654 paid in from employee and employer over 40 years.
It is NOT inflation adjusted as the salary would also be inflation adjusted.

So why are the Democrats hating the fact an ordinary worker can accumulate at least $500,000 that is the little worker's OWN???

I bolded and enlarged the part that makes an ass out of you and me.

So you don't think the AVERAGE worker at 25 college degree makes $30,000 and doesn't get pay increases until age 65?

What other assumptions are ass making worthy?

HERE check out the FACTS you dumb ass!!!

The report titled "The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings" (.pdf) reveals that over an adult's working life,
high school graduates can expect, on average, to earn $1.2 million;
those with a bachelor's degree, $2.1 million; and
people with a master's degree, $2.5 million.
Persons with doctoral degrees earn an average of $3.4 million during their working life, while those with professional degrees do best at $4.4 million.
"At most ages, more education equates with higher earnings, and the payoff is most notable at the highest educational levels," said Jennifer Cheeseman Day, co-author of the report.

The figures are based on 1999 earnings projected over a typical work life, defined as the period from ages 25 through 64.
Lifetime Earnings Soar with Education – How a Higher Education Leads to Higher Lifetime Earnings

at this was 1999 earnings: Dumb fu...K
My age 25 to 65 gross income MY assumptions:life time work :$2.5 million at current salary $30,000 in 2013.. 14 years later then the above figures.

Given inflation rate of 2% over 14 years would make MY starting salary at $38,000 but I lowballed by starting at $30,000!
So starting at $30,000 given raises at 20% every 5 years.. the average college educated worker would have paid in $378,000!

AGAIN where are MY ASS WORTHY ASSUMPTiONS???

"Assumptions" were your words.

Why don't you look up what the AVERAGE 25 year old earns, instead of just college grads?

You also assume a 25 year old will religiously invest a portion of his or her income every month.

You also assume the average person would invest wisely, but look how many voted for Obama!

And look how many people were wiped out in 2008.

An awful lot of people are grateful the Social Security safety net was there to catch them.

 

[healthmyths]

Why are Democrats against workers accumulating $500,000???

They’re not, provided every worker can indeed have that available to him come retirement, along with health insurance.

But that’s not how the real world works for middle and low income Americans, where the relatively small amount of tax savings would be used for emergencies and other living expanses.

The genius of the Social Security Act was its understanding of human nature, and human failings. Society has a right through various government programs to protect itself from those who are unable or unwilling to save for retirement, thus avoiding the destruction of human lives seen in the wake of the Great Depression.

Conservatives have contrived this myth that workers are ‘losing out’ on money as a consequence of Social Security, when the facts indicate the opposite.

We must reject the ignorant fiscal dogma of the right and maintain the current system that has worked so well over the decades.

NO we must FIGHT the Anti-American way of being INDEPENDENT of the government!
Do you know that 37% of the TAX revenue COMES from FICA/MEDICARE payments BY employee AND EMPLOYER???
That is thievery!
Why are you so hateful of the common man given the opportunity of accumulating $500,000?
They can have it as I've proven with the analysis that given the majority of workers had the opportunity just to put their payroll taxes
into a local bank at 3% accumulates over 40 years $500,000!
NOW of course the GOP plan NEVER stated EVERYONE had to go on to the "privatization" because that is NOT workable!
What about the worker that becomes disabled? A small percentage and from the privatization payments there could be that type of
payment arrangement for ALL workers who choose the right to determine WHERE their money goes!
NOthing wrong with a disability insurance plan as part of the forced payment program!
Then the government is OUT of the business of supporting workers who become disabled!
Why can't that work? It does with the ordinary individual who buys with AFTER tax dollars disability insurance and that is unfair to them!

NO people like you just want to control people like me and those of us who would LIKE to have had the chance to dictate WHERE my payroll taxes went instead of these taxes used to pay the following EXTREMELY wasteful and distasteful use of MY payroll taxes!!!

Tell me you are OK with the following uses of your payroll taxes???


The USA Federal government spent:
- $2.6 million to make sure prostitutes in China drink less on the job.

- $1.44 million in federal funds estimating the size of the population and examining the “social milieu” of male prostitutes in Hanoi & Ho Chi Minh City,

- Washington spends $25 billion annually maintaining unused or vacant federal properties

- Studying pig poop. The EPA awarded a $141,450 grant under the Clean Air Act to fund a Chinese study on swine manure

- a $1.2 million grant to the United Nations for clean fuel promotion.

$750,000 to restore a 16th-century tomb complex in India,
$700,000 to conserve ruins in Tanzania,
$600,000 for the “temple of the winged lions” in Jordan and
$450,000 for the conservation of a 10th century temple in Cambodia. Those were just the big ticket projects.
Hundreds of thousands more went to smaller causes throughout the world.

 

[rightwinger]

Why are Democrats against workers accumulating $500,000???

They’re not, provided every worker can indeed have that available to him come retirement, along with health insurance.

But that’s not how the real world works for middle and low income Americans, where the relatively small amount of tax savings would be used for emergencies and other living expanses.

The genius of the Social Security Act was its understanding of human nature, and human failings. Society has a right through various government programs to protect itself from those who are unable or unwilling to save for retirement, thus avoiding the destruction of human lives seen in the wake of the Great Depression.

Conservatives have contrived this myth that workers are ‘losing out’ on money as a consequence of Social Security, when the facts indicate the opposite.

We must reject the ignorant fiscal dogma of the right and maintain the current system that has worked so well over the decades.

NO we must FIGHT the Anti-American way of being INDEPENDENT of the government!
Do you know that 37% of the TAX revenue COMES from FICA/MEDICARE payments BY employee AND EMPLOYER???
That is thievery!
Why are you so hateful of the common man given the opportunity of accumulating $500,000?
They can have it as I've proven with the analysis that given the majority of workers had the opportunity just to put their payroll taxes
into a local bank at 3% accumulates over 40 years $500,000!
NOW of course the GOP plan NEVER stated EVERYONE had to go on to the "privatization" because that is NOT workable!
What about the worker that becomes disabled? A small percentage and from the privatization payments there could be that type of
payment arrangement for ALL workers who choose the right to determine WHERE their money goes!
NOthing wrong with a disability insurance plan as part of the forced payment program!
Then the government is OUT of the business of supporting workers who become disabled!
Why can't that work? It does with the ordinary individual who buys with AFTER tax dollars disability insurance and that is unfair to them!

NO people like you just want to control people like me and those of us who would LIKE to have had the chance to dictate WHERE my payroll taxes went instead of these taxes used to pay the following EXTREMELY wasteful and distasteful use of MY payroll taxes!!!

Tell me you are OK with the following uses of your payroll taxes???


The USA Federal government spent:
- $2.6 million to make sure prostitutes in China drink less on the job.

- $1.44 million in federal funds estimating the size of the population and examining the “social milieu” of male prostitutes in Hanoi & Ho Chi Minh City,

- Washington spends $25 billion annually maintaining unused or vacant federal properties

- Studying pig poop. The EPA awarded a $141,450 grant under the Clean Air Act to fund a Chinese study on swine manure

- a $1.2 million grant to the United Nations for clean fuel promotion.

$750,000 to restore a 16th-century tomb complex in India,
$700,000 to conserve ruins in Tanzania,
$600,000 for the “temple of the winged lions” in Jordan and
$450,000 for the conservation of a 10th century temple in Cambodia. Those were just the big ticket projects.
Hundreds of thousands more went to smaller causes throughout the world.

How much of that came from Social Security?