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pap
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 Posted: Fri Mar 26, 2010 10:35 am Post subject: Unions fighting for government control of 401(k)s |
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| I just read an article of the MSNBC Money page that detailed the SEIU's push to have the US Government take over all 401(k)s. Why is this not getting the same backlash as Bush's SS reform where the government would control investments with a portion of the SS withholding? If the government wants to help people save for retirement I suggest they take less money as taxes from workers and stop supporting those who never work. |
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phonyfeminazi
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| Posted: Fri Mar 26, 2010 10:39 am Post subject: Re: Unions fighting for government control of 401(k)s |
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| pap wrote: | | I just read an article of the MSNBC Money page that detailed the SEIU's push to have the US Government take over all 401(k)s. Why is this not getting the same backlash as Bush's SS reform where the government would control investments with a portion of the SS withholding? If the government wants to help people save for retirement I suggest they take less money as taxes from workers and stop supporting those who never work. |
PAP, I've been posting that on this forum for months, and all the LIBCHIT suckers have been ridiculing me for saying that very same thing.
THIS O'SAMA O'BAMA ADMINISTRATION IS TAKING US ON THE ROAD TO SOCIALISM........NATIONALIZING INDUSTRY AND BANKING, AND NOW MEDICAL, AND ADD TO THAT THE TAKEOVER OF ALL PENSIONS (GOVERNMENT AND PRIVATE)......
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ellipses
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| Posted: Fri Mar 26, 2010 10:45 am Post subject: |
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We ridicule you because it's not going to happen. First, it's the SEIU who is pushing for it, not the government.
Second, even IF (and that's a huge IF) this plan went through, it would only be centralizing the administration of accounts... you would still be holding investments in traditional securities. It's not like you would cease to own shares in American Investers Domestic Blue Chip Fund or shares of Pfizer or I-Bonds or whatever...
If the SEIU was pushing for the government to provide every man, woman, and child a unicorn, that doesn't warrant the headline "All Americans to get Unicorn"
Link: http://moneynews.com/StreetTalk/unions-401k-pensions/2009/03/17/id/328862
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phonyfeminazi
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| Posted: Fri Mar 26, 2010 11:01 am Post subject: |
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| ellipses wrote: | We ridicule you because it's not going to happen. First, it's the SEIU who is pushing for it, not the government.
Second, even IF (and that's a huge IF) this plan went through, it would only be centralizing the administration of accounts... you would still be holding investments in traditional securities. It's not like you would cease to own shares in American Investers Domestic Blue Chip Fund or shares of Pfizer or I-Bonds or whatever...
If the SEIU was pushing for the government to provide every man, woman, and child a unicorn, that doesn't warrant the headline "All Americans to get Unicorn"
Link: http://moneynews.com/StreetTalk/unions-401k-pensions/2009/03/17/id/328862 |
"E", come on....your naiveté is showing......the government runs out of money, so they steal SOCIAL SECURITY.....the government runs out of money, so they go to MEDICARE, VA, MEDICAID......the government runs out of money, they go to PENSIONS.....the government runs out of money, WE REVALUE OUR CURRENCY......that's where we're headed.
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ellipses
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| Posted: Fri Mar 26, 2010 11:06 am Post subject: |
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Our currency is revalued every day... the value of a dollar is constantly in flux...
I'm not concerned about it...
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pap
Understudy
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| Posted: Fri Mar 26, 2010 11:06 am Post subject: |
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| ellipses wrote: | We ridicule you because it's not going to happen. First, it's the SEIU who is pushing for it, not the government.
Second, even IF (and that's a huge IF) this plan went through, it would only be centralizing the administration of accounts... you would still be holding investments in traditional securities. It's not like you would cease to own shares in American Investers Domestic Blue Chip Fund or shares of Pfizer or I-Bonds or whatever...
If the SEIU was pushing for the government to provide every man, woman, and child a unicorn, that doesn't warrant the headline "All Americans to get Unicorn"
Link: http://moneynews.com/StreetTalk/unions-401k-pensions/2009/03/17/id/328862 |
But the SEIU WANTSA the government to control the 401(k)s. Thats the point, just like Bushs' plan had the government investing your moneyWhat the SEIU wants is to eliminate any chance of failure. Thats also what the Obama Administration and Congress want to do (AIG, Wall street banks, GM, homeowners, etc). Failure should not be eliminated either in schools or in life. Hey, my cars are worthless now than when I bought them, I need a bailout while thier tossing my money around.
There is no gaurentee that anyone will make money on any property. Housing values go up and down everywhrere, neighborhoods change, houses are no maintained, jobs leave and prices drop. It life, get used to to and stop trying to save everyone. As the old Charlie Rich song went, "some gotta win, some gotta lose". |
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ellipses
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| Posted: Fri Mar 26, 2010 11:11 am Post subject: |
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Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen.
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pap
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| Posted: Fri Mar 26, 2010 11:27 am Post subject: |
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| ellipses wrote: | Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen. |
The SEIU anolg with the AFL/CIO didn't want to pay taxes on thier benifits either. Just because the didn't want to made it happen.
If you don't invest in a 401(k) you give up the employeer match. That would be stupid.
My point is the backlash of this proposal pales to the backlash Bush got with a similar proposal and thsi grab is not no money already taken as a tax, this is your money. It looks like liberal groups like unions are expemt for backlash in the media. |
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phonyfeminazi
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| Posted: Fri Mar 26, 2010 11:41 am Post subject: |
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| pap wrote: | | ellipses wrote: | Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen. |
The SEIU anolg with the AFL/CIO didn't want to pay taxes on thier benifits either. Just because the didn't want to made it happen.
If you don't invest in a 401(k) you give up the employeer match. That would be stupid.
My point is the backlash of this proposal pales to the backlash Bush got with a similar proposal and thsi grab is not no money already taken as a tax, this is your money. It looks like liberal groups like unions are expemt for backlash in the media. |
If the 401(k) is taken over by the government it will be "invested" (sic) into TREASURY instruments...
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ellipses
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| Posted: Fri Mar 26, 2010 12:02 pm Post subject: |
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| pap wrote: | | ellipses wrote: | Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen. |
The SEIU anolg with the AFL/CIO didn't want to pay taxes on thier benifits either. Just because the didn't want to made it happen.
If you don't invest in a 401(k) you give up the employeer match. That would be stupid.
My point is the backlash of this proposal pales to the backlash Bush got with a similar proposal and thsi grab is not no money already taken as a tax, this is your money. It looks like liberal groups like unions are expemt for backlash in the media. |
I supported Bush's privatization plan, for what that's worth...
Also, I thought the cadillac tax went through for health insurance...
And phony, the article didn't say that you'd have to invest in treasuries... that would be dumb... if that were the case, then who cares about your employer match? If you are only making 2.11% or whatever the T-bill rate is, you'd be better off giving up the match and investing in an S&P tracking fund.
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phonyfeminazi
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| Posted: Fri Mar 26, 2010 12:05 pm Post subject: |
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| ellipses wrote: | | pap wrote: | | ellipses wrote: | Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen. |
The SEIU anolg with the AFL/CIO didn't want to pay taxes on thier benifits either. Just because the didn't want to made it happen.
If you don't invest in a 401(k) you give up the employeer match. That would be stupid.
My point is the backlash of this proposal pales to the backlash Bush got with a similar proposal and thsi grab is not no money already taken as a tax, this is your money. It looks like liberal groups like unions are expemt for backlash in the media. |
I supported Bush's privatization plan, for what that's worth...
Also, I thought the cadillac tax went through for health insurance...
And phony, the article didn't say that you'd have to invest in treasuries... that would be dumb... if that were the case, then who cares about your employer match? If you are only making 2.11% or whatever the T-bill rate is, you'd be better off giving up the match and investing in an S&P tracking fund. |
"e", this is not me saying what the investments will be......the story goes that when the government takes over our IRAs, 401s, 529s, private pensions, it will be "invested" in TREASURIES.......it will be another source of revenue for the GOBMINT.
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pap
Understudy
Joined: 23 Nov 2009
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| Posted: Fri Mar 26, 2010 12:51 pm Post subject: |
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| ellipses wrote: | | pap wrote: | | ellipses wrote: | Then don't invest in a 401(k) and just have an individual investment account...
And back to my earlier point, just because the SEIU wants it, doesn't make it happen. |
The SEIU anolg with the AFL/CIO didn't want to pay taxes on thier benifits either. Just because the didn't want to made it happen.
If you don't invest in a 401(k) you give up the employeer match. That would be stupid.
My point is the backlash of this proposal pales to the backlash Bush got with a similar proposal and thsi grab is not no money already taken as a tax, this is your money. It looks like liberal groups like unions are expemt for backlash in the media. |
I supported Bush's privatization plan, for what that's worth...
Also, I thought the cadillac tax went through for health insurance...
And phony, the article didn't say that you'd have to invest in treasuries... that would be dumb... if that were the case, then who cares about your employer match? If you are only making 2.11% or whatever the T-bill rate is, you'd be better off giving up the match and investing in an S&P tracking fund. |
The Cadillac tax plan didn't really go through. It was pushed back until 1918 and if congress continues to act as irresponsible as thay have with the so called doctor fix for medicaid/medicare they will postpone this forever. And this is one of the ways this plan was to pay for itself. heres a hot tip.....it will never pay for itself, it will cost at least 5-10 times the CBO estimate and the deficit will continue to grow and taxes will go UP to pay for this piece of crap. |
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Cylinsier
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| Posted: Fri Mar 26, 2010 12:54 pm Post subject: |
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I think you meant 2018.
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pap
Understudy
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| Posted: Fri Mar 26, 2010 12:56 pm Post subject: |
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| Cylinsier wrote: | | I think you meant 2018. |
Sorry Cy thats right I mean 2018. |
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busdriver
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| Posted: Fri Mar 26, 2010 1:55 pm Post subject: Re: Unions fighting for government control of 401(k)s |
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| phonyfeminazi wrote: | | pap wrote: | | I just read an article of the MSNBC Money page that detailed the SEIU's push to have the US Government take over all 401(k)s. Why is this not getting the same backlash as Bush's SS reform where the government would control investments with a portion of the SS withholding? If the government wants to help people save for retirement I suggest they take less money as taxes from workers and stop supporting those who never work. |
PAP, I've been posting that on this forum for months, and all the LIBCHIT suckers have been ridiculing me for saying that very same thing.
THIS O'SAMA O'BAMA ADMINISTRATION IS TAKING US ON THE ROAD TO SOCIALISM........NATIONALIZING INDUSTRY AND BANKING, AND NOW MEDICAL, AND ADD TO THAT THE TAKEOVER OF ALL PENSIONS (GOVERNMENT AND PRIVATE)...... |
ah, phoney, they take a lot of our money now and we don't even know it, I keep telling you guys the only way the US (and world?) are going to survive is to get rid of people at 55, no later then 60 years old, it is going to happen anyhow . So--
Render unto Government that which they will take anyhow and save yourself a lot of grief. |
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