A big 5.9% increase in SS
- Thread starter butchlambert
- Start date
Well at least the page count has not reached the likes of the AB thread !!
Alex Wheeler
Site $$ Sponsor
I would LOVE to keep the 15% of my gross income I put into SS and invest it on my own. Its just wasted money I will never see again. Just a little bonus of being self employed, you get to pay your employer's half of SS too 
They want you working until your 70. The system is designed that way. Theres a saying about two ways to make a slave, debt or chains.
They want you working until your 70. The system is designed that way. Theres a saying about two ways to make a slave, debt or chains.redrockranger
Silver $$ Contributor
I would LOVE to keep the 15% of my gross income I put into SS and invest it on my own. Its just wasted money I will never see again. Just a little bonus of being self employed, you get to pay your employer's half of SS too
A borrower is slave to the lender.
redrockranger
Silver $$ Contributor
Question to the board. Where would the stock market be, if there was no 401K ?
Probably the same; I'd just funnel the money through any number of alternatives. IRA, Roth, SEP, etc.
Or, I'd just buy the stocks in a general investment account. It doesn't need to be pre-tax money for me to invest in the markets.
hogpatrol
Silver $$ Contributor
I would have also but it wouldn't work with the vast majority. To those that have the option, 401K participation rate is less than 5%. Less than 15% max out their contributions. People just don't save anything and live week to week. There are even jobs that that pay daily.I would LOVE to keep the 15% of my gross income I put into SS and invest it on my own. Its just wasted money I will never see again. Just a little bonus of being self employed, you get to pay your employer's half of SS too
I worked in a plant where a guy sold sodas and snacks. We were paid on Friday. People would hit him up for a soda on Monday asking him if they could pay the following Friday. They made real good money and were still broke after two days.
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Here is a clue. This is part and parcel with my earlier post about monetary devaluation.
1971 $DJI = 850
Today $Dji = 35,977
= 0.024
1971 = 2.4% Today value
Dollar devaluation:
1971 gal gas = $0.15 +/-
Today gal gas ~ $4 nat’l avg
1971 Snickers = $0.10
Today Snickers = $1.50 +/- and it is half the size it was in 1971.
This analysis applies to virtually everything in US society.
Bottom line: Today’s dollar averages 2% to 4% the buying power it had 50 years ago, and 50 years ago $DJI was 2.4% Today value.
Monetary devaluation is largely why Rome and many other great world powers failed throughout history.
Yet modern global governmental and banking idiots are so arrogant and greedy, they think they can succeed.
redrockranger
Silver $$ Contributor
Caesar did clip the silver coins they had in circulation. Yep devaluation.
In 1913 Woodrow Wilson signed into law the Federal Reserve Act and the IRS Act into law. The Feds money created the roaring 20's. The great depression followed in 1929 until WW II.
butchlambert
Site $$ Sponsor
I would LOVE to keep the 15% of my gross income I put into SS and invest it on my own. Its just wasted money I will never see again. Just a little bonus of being self employed, you get to pay your employer's half of SS too
Alex, after paying 15.3% of both my employees and myself for over 41yrs I would be afraid of how much that I've paid out.
Right, and under FDR strong arming the Fed initially devalued gold by artificially raising the price 40% via govt fiat.
redrockranger
Silver $$ Contributor
After he demanded people to turn in their gold for paper .
hoz53
Gold $$ Contributor
they say if a person owes the bank 500,000 the bank owns that person but if a person owes the bank 50 million that person owns the bank— so many ways to look at everything—. i do like the one > neither a barower nor a lender be< wasnt that ben franklin? I see now that fannie may/freddie mac are increasing the amount of mortgages they will guarantee to 1 Million (or more?). does it all matter anymore
NorCalMikie
Gold $$ Contributor
We HAD a Man in there that was on his way to draining the swamp but we saw exactly how he was treated.
He should have started off cleaning house from day one with YOU'RE FIRED but the back stabbers were/are well dug in. Politics as usual.Too many politicians playing CYA to let him stay in office and cutting into their $$$ and power. And if any of you don't see what's going on, I might suggest you get your eyes checked as well as your priorities.
Didn't ever think I would have been invited to the White House for dinner but he sure had/has my vote again, if and when needed. Most all politicians SUCK BIG TIME!!
And most of the politicians we thought were the "good Guys"? Wait long enough and their true colors start coming into view.
I've got this hand basket for sale....
NorCalMikie
Gold $$ Contributor
That's because we have more time to see exactly what's going on and more time to see who the crooks REALLY are. (most all politicians)
And the ones we think/thought were the good guys? Wait long enough and their true colors will come out.
And the thing I'am seeing is how easy it is for the politicians to spend YOUR money? What's wrong with this picture?? And the topper? Government has NEVER made anything. They just wait for US to make it, pay our fair share + so THEY can spend it and STILL never answer to us.
No wonder Slo Joe turns his back and walks away when asked a question. (other than being as dumb as a box of rocks)
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Believe me we didn’t get anything it has cost us in so many other places this is just a shell game
redrockranger
Silver $$ Contributor
With out the support of the FEDERAL GOV, the 401k and IRA would not be nearly what it has become. Free markets work differently. These corrections have to happen so the big boys can get there money in the market. How much longer can corporate America support it ? It can't go up at the rate it has forever.Has it become a trading game ? Overtime the economy has a severe down turn it takes more funny money to restart it. In the long run were all dead.John Maynard Keynes.
Exactly what support are you referring to? Deferring taxes on contributions?
It's not federal employee contributions because they don't have 401Ks, they have TSPs, and can't even buy individual stocks.
redrockranger
Silver $$ Contributor
You got it. You a Fed employee ?
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