Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-29-2012, 07:45 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Quote:
Originally Posted by marko View Post

Right! One of the things that people miss is that much of "Wall St" IS Main St! If they want to help the middle class, they should stop demonizing Wall St.
Both sides of the spectrum have taken to "marketing" political gobbledygook, a mishmash of sloganry designed to push the right buttons, primarily to get and stay elected. And, well, it's working...
__________________

__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-29-2012, 08:52 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Houston
Posts: 1,435
If you don't think they're under attack, you haven't read any of that idiot Teresa Ghilarducci's rantings in the NY Times. She is scary.
__________________

__________________
soupcxan is offline   Reply With Quote
Old 12-15-2012, 12:14 PM   #23
Dryer sheet aficionado
GandK's Avatar
 
Join Date: Nov 2011
Location: Ohio
Posts: 32
Quote:
Originally Posted by soupcxan View Post
If you don't think they're under attack, you haven't read any of that idiot Teresa Ghilarducci's rantings in the NY Times. She is scary.
Agreed.

This is her original proposal, for any who haven't read it before:

http://www.sharedprosperity.org/bp204/bp204.pdf
__________________
GandK is offline   Reply With Quote
Old 12-15-2012, 01:35 PM   #24
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Houston
Posts: 1,435
Quote:
Originally Posted by GandK View Post
This is her original proposal, for any who haven't read it before:

http://www.sharedprosperity.org/bp204/bp204.pdf
When you see a name like "shared prosperity" you know that those who work hard, LBYM, and save their pennies are going to be made to pick up the slack for everyone else who chose not too.
__________________
soupcxan is offline   Reply With Quote
Old 12-15-2012, 05:12 PM   #25
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,871
Quote:
Originally Posted by MichaelB View Post
Well, the journalists do have deadlines and must write their stuff even if there is nothing new to say or add.

When looking at the list of "tax expenditures" I don't get why IRA and other deferred income are looked at in the same light as a mortgage deduction. One is a permanent loss of tax revenue, the other only postpones it. IRAs eventually will pay taxes when the income is withdrawn.
Quote:
Originally Posted by pb4uski View Post
On the last part, I would respond that we not really avoiding paying our fair share, we've just been deferring payment of part of our fair share using incentives for savings that Congress established and those same incentives have mechanisms (RMDs) to make sure we ultimately pay what has been deferred.

If we guessed right when we deferred, the payments will be at a lower rate than when we deferred, but for those who have been unexpectedly successful it might well be more (higher marginal tax rate when withdrawn than when deferred).
I, too, have wondered the same thing for the reasons MichaelB and pb4uski posted here. Thank you both for saving me the trouble of writing a similar reply.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 12-16-2012, 11:05 PM   #26
Recycles dryer sheets
beowulf's Avatar
 
Join Date: Oct 2007
Posts: 466
It sounds like the worst part of this proposal is that the government would be able to do the same thing they have done with SS money - spend it. So all that would really be in your account are IOUs by the government. Then, when it's time to claim the money in retirement, the government would cry poverty, say it's unfair and will raise the deficit and that it just can't be afforded. Another plan that is totally aimed at preventing people from saving for their own retirements.
__________________
Mission accomplished - not necessarily ER, but certainly R.
beowulf is offline   Reply With Quote
Old 12-17-2012, 09:05 AM   #27
Thinks s/he gets paid by the post
 
Join Date: Mar 2011
Posts: 3,708
Normally, I"d blow off such articles as the ramblings of some clueless crank.

Unfortunately, there is a growing popular belief in this country that if you have any assets --new car, nice house, 401K, whatever--that you gained these things at the expense of someone else. "Someone had to lose for you to win" seems to be more and more of the common mantra. Once there is enough buy-in to that twisted logic...if you tell the lie enough times... it is only a step away from the demand to intervene in the interest of fairness.
__________________

__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 10:25 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.