Dems Target Private Retirement Accounts - "Agenda for Shared Prosperity"

[himher 634]

http://www.carolinajournal.com/exclusives/...ve.html?id=5081

How sobering is this?

[Trumplestiltskin 5,791]

In the absence of specific proposals, not very...

Plenty of ideas get thrown around in govt - they don't all end up becoming things that are legislated on.

[Ban Hammer 13,337]

http://www.carolinajournal.com/exclusives/...ve.html?id=5081

How sobering is this?

more change!

[Sister Fracas 5]

yawn-o-fest

[alienlovechild 75]

In the absence of specific proposals, not very...

Plenty of ideas get thrown around in govt - they don't all end up becoming things that are legislated on.

Messing around with millions of people's investments is no joke considering if you mention Social Security reform you'll be tarred and feathered. Loose talk about seizing assets will lead people to withdraw their money when we need money in the system available for credit.

I thought you knew something about finances in your profession.

[Ban Hammer 13,337]

In the absence of specific proposals, not very...

Plenty of ideas get thrown around in govt - they don't all end up becoming things that are legislated on.

Messing around with millions of people's investments is no joke considering if you mention Social Security reform you'll be tarred and feathered. Loose talk about seizing assets will lead people to withdraw their money when we need money in the system available for credit.

I thought you knew something about finances in your profession.

i wonder what aj and mawilson's take on this story is.

[Trumplestiltskin 5,791]

In the absence of specific proposals, not very...

Plenty of ideas get thrown around in govt - they don't all end up becoming things that are legislated on.

Messing around with millions of people's investments is no joke considering if you mention Social Security reform you'll be tarred and feathered. Loose talk about seizing assets will lead people to withdraw their money when we need money in the system available for credit.

I thought you knew something about finances in your profession.

Well it really depends on who is throwing around the "loose talk" doesn't it... Needless to say - the word of the Treasury Secretary or Federal Reserve Chairman tends to have more of an impact on the stock market and people's behaviour than economics professors who have been tasked with coming up with ideas as part of government study groups. In other words - until it becomes concrete, there's nothing to worry about.

Hence this is more scaremongering by people who go bat$hit over any mention of "socialism". The train has already passed on that score anyway - the single greatest move towards socialism that this country has made was the economic bailout - and pretty much E V E R Y O N E voted for it.

I don't believe I have ever claimed to be an expert on finance or economics - so not sure where you're getting that from...

Yes - its my opinion. I try to avoid buying into mad hysteria, where-ever possible.

[akdiver 3]

http://www.carolinajournal.com/exclusives/...ve.html?id=5081

How sobering is this?

more change!

The change is taking my money and making it someone else's....

[Sister Fracas 5]

God, you guys are paranoid...

[alienlovechild 75]

Hence this is more scaremongering by people who go bat$hit over any mention of "socialism". The train has already passed on that score anyway - the single greatest move towards socialism that this country has made was the economic bailout - and pretty much E V E R Y O N E voted for it.

Most of Congress voted for the war in Iraq and the Patriot Act after a long drawn debate not in a couple of weeks with the bailout. You have more faith in Congress than most Americans. One big move toward socialism may lead to more government intervention especially with a party coming into power that is less shy about about playing with other people's money. That may not be entirely correct but people act erratic when the economy gets shaky leading to more difficulties.

I don't believe I have ever claimed to be an expert on finance or economics - so not sure where you're getting that from...

I thought you had expertise in some field but it wasn't this one either.

[peejay 327]

I posted this same story before the elections. What is at stake is the $80 billion dollars that middle class guys like me shield from the taxman every year by putting retirement money aside in our 401K plans. Guess what? The usual suspects want to control the $80 billion. Anything new here? We take your money and you have to go through us to get it back. Huh! And in the mean time we can use it any way we want to cuz we're the gummit. Hello! Just like Social Security / Medicare.

Really! Do you want gummit to control your retirement money for you? In the end it will just become another redistribution of wealth scheme that is funded further down the food chain.

They are only gonna raise taxes on the bad old crooks making $250,000 a year? Ha! That's income taxes. There are plenty of other ways to raise your taxes.

Is there buyer's remorse yet? This is just the beginning.

[Trumplestiltskin 5,791]

Hence this is more scaremongering by people who go bat$hit over any mention of "socialism". The train has already passed on that score anyway - the single greatest move towards socialism that this country has made was the economic bailout - and pretty much E V E R Y O N E voted for it.

Most of Congress voted for the war in Iraq and the Patriot Act after a long drawn debate not in a couple of weeks with the bailout. You have more faith in Congress than most Americans. One big move toward socialism may lead to more government intervention especially with a party coming into power that is less shy about about playing with other people's money. That may not be entirely correct but people act erratic when the economy gets shaky leading to more difficulties.

Sure they do - which is why I alluded to the Fed Chairman and Treasury Secretary. In other words - people with actual, direct authority over the management of the economy have more of an impact over these things than vague rumblings by government commitees and focus groups. You can hire any number of professors to explore different options and you can write any number of articles decrying it - but until there is a tangible proposal on the table, there really isn't anything to talk about.

They may well be more government intervention - who can say. Again - when we know something for sure, we'll know what we're talking about. Won't we...

I don't believe I have ever claimed to be an expert on finance or economics - so not sure where you're getting that from...

I thought you had expertise in some field but it wasn't this one either.

Whatever man. That's cheap and you know it. When you can't respond to the argument presented to you - you go on the attack with b/s. You're like McCain - who needs to prove anything when you can just lay claim to "superior experience". Never mind actually demonstrating the benefit of said experience or having actually learned a thing or two.

But feel free to explain how badly wrong I am with your (presumably) superior knowledge of economics and finance. Have you ever heard of just agreeing to disagree...?

Edited November 6, 2008 by Paul Daniels

[alienlovechild 75]

Whatever man. That's cheap and you know it. When you can't respond to the argument presented to you - you go on the attack with b/s. You're like McCain - who needs to prove anything when you can just lay claim to "superior experience". Never mind actually demonstrating the benefit of said experience or having actually learned a thing or two.

But feel free to explain how badly wrong I am with your (presumably) superior knowledge of economics and finance. Have you ever heard of just agreeing to disagree...?

You're a lot more sensitive than I thought considering what I said was true and contained no coarse language. I did give an on topic serious response even if you didn't buy it. You are wrong about McCain though since he said he didn't know as much as he should on economics.

I didn't claim superior knowledge on economic or finances and a lot of smart people got burned in this slowdown so who's really an expert? I think your laboring under the assumption that most investors are rational and listening to the Fed Chairman or the Treasury Secretary. I don't think that's true based on fools selling their stock short when they should wait it out or even buy more. Take how many idiots believed the notion housing prices will always rise dramatically year after year and were shocked when the bubble burst.

Just for the record, what's your line of work so that I don't make another false assumption?

[rocks 494]

Hence this is more scaremongering by people who go bat$hit over any mention of "socialism". The train has already passed on that score anyway - the single greatest move towards socialism that this country has made was the economic bailout - and pretty much E V E R Y O N E voted for it.

[Pinocchio Liberal 268]

Wheres my hammer and sickle? I got work to do. Oh one more thing we all "MUST SACRIFICE"