Your elected government in inaction. Every time things start looking a little brighter, they manage to screw something else up and it’s back down the slide again.
The 401k accounts was one of the responses to the question, “Can’t I manage my money better than the Government?” As it turned out, in all too many cases the answer is “No.”
Hey, Al…right on. And the Guillotine-Bait are again…again! talking up privatized Social Security. The criminal financial class may even be genetically different from us humans. Maybe they SHOULD be removed, as a conscious chosen option, from the human race.
Some of you don’t seem to realize that all retirement plans are some variety of employee savings. The 401K program allows individuals to save more over the long term than normal savings. All in all it’s a good thing.
My 401K has never gone down in nominal value. You aren’t forced to be in speculative investments. The last few years I’ve drawn my 2% and felt fortunate.
mine has been in the toilet for years so when the economy hit the septic tank i was better prepared to cope. thanks shrub aka baby bush or as i think of him “the great equalizer”
Please remember that Congressmen have their own pension plans that are not available to the masses. Doubt their’s have gone down in value. Insider trading seems to have helped, too, if you can believe the news these days.
with most pension plans looted; anyone left with a plan is lucky; except that inflation is sucking up what is left….soon the rest of us with be at he mercy of that 1% for their hand outs…just where they want us….
The 401k was a very bad bargain. So we put our money in “tax free”, but they didn’t warn us “they” (GWB) would reduce the capital gains and dividend rates to 15%. Now I’m stuck paying 28% on the capital gains and dividends made over the years that the IRS requires I pay on IRA distributions. (I don’t want my tax rate reduced; I want the uber-wealthy to pay their marginal rates on their income, no matter where it comes from.)
denis, what makes you think they don’t work? Many people of all stripes support them and protest with them, all over the country and the world. Almost all of them have a job. Why do you think they’re angry? Just because a person works doesn’t mean that he can actually live on what passes for paychecks nowadays…a single person with a couple kids can pay the rent even working full time…Working people should be the most upset about corporations stripping the income from everyday workers wages. You’re being screwed too, denis. But evidently you don’t mind…
@TheTrustedMechanic: One advantage of a privatized SS account is it can be inherited.
As for who’s managing the accounts better – government or private citizens – how’s that GM ‘investment’ working out for ya? Don’t confuse taxes you pay for SS as investment – the government can turn off the SS spigot tomorrow if they had the gumption. You have no rights to it – it ain’t your money.
hsawlrae over 12 years ago
And with the 01K not that much further down the road. But hey, didn’t everyone want change?
titanicus over 12 years ago
I suspect I should find this funny but as I have no idea what a 401k is, it’s a struggle.
Is this one of those “US only” gags?
An internet search beckons ..
KenTheCoffinDweller over 12 years ago
It is the “New and Improved” Pension Plan that for most of here in the US replaced the plan that our grandfathers had for retirement.
Proginoskes over 12 years ago
Back to the comic …“And don’t look at my bill, either.”
Ida No over 12 years ago
“Better yet, just leave your wallet and PIN codes on the table. Give me about 10 minutes, and THEN look at my bill.”
bluskies over 12 years ago
Your elected government in inaction. Every time things start looking a little brighter, they manage to screw something else up and it’s back down the slide again.
Alabama Al over 12 years ago
The 401k accounts was one of the responses to the question, “Can’t I manage my money better than the Government?” As it turned out, in all too many cases the answer is “No.”
tigre1 over 12 years ago
Hey, Al…right on. And the Guillotine-Bait are again…again! talking up privatized Social Security. The criminal financial class may even be genetically different from us humans. Maybe they SHOULD be removed, as a conscious chosen option, from the human race.
And for a beginning…GOTP delenda est…
psychlady over 12 years ago
It is what it is – staring at it won’t help at this point.
blackash2004-tree Premium Member over 12 years ago
Some of you don’t seem to realize that all retirement plans are some variety of employee savings. The 401K program allows individuals to save more over the long term than normal savings. All in all it’s a good thing.
My 401K has never gone down in nominal value. You aren’t forced to be in speculative investments. The last few years I’ve drawn my 2% and felt fortunate.
AltrinchamMike over 12 years ago
401k !!! 403b is just as hard hit too!!!
mossmangene over 12 years ago
mine has been in the toilet for years so when the economy hit the septic tank i was better prepared to cope. thanks shrub aka baby bush or as i think of him “the great equalizer”
daveoverpar over 12 years ago
And also don’t look at any pictures of obama! Or listen to any thing he says!
mossmangene over 12 years ago
also dont use words that people like the bushes dont understand, words like work, hungry and get off your ass and do it yourself.
The Life I Draw Upon over 12 years ago
They were allowed to get rid of pensions with the 401K, now they got rid of the 401K where I used to work. They are keeping the money.
Mythreesons over 12 years ago
Please remember that Congressmen have their own pension plans that are not available to the masses. Doubt their’s have gone down in value. Insider trading seems to have helped, too, if you can believe the news these days.
dabugger over 12 years ago
with most pension plans looted; anyone left with a plan is lucky; except that inflation is sucking up what is left….soon the rest of us with be at he mercy of that 1% for their hand outs…just where they want us….
iPoppy over 12 years ago
@tigger good explanation, I was lost too. Where I’m at, we get a compulsory plan.. where 20% of my salary gets put away before it ever reaches me.
bmonk over 12 years ago
Next procedure: A Wallet Extraction and Cash Excision.
underwriter over 12 years ago
@mythreesonsNot so,http://www.snopes.com/politics/socialsecurity/pensions.asp
flimflamflam over 12 years ago
True life.
RBStanfield over 12 years ago
The 401k was a very bad bargain. So we put our money in “tax free”, but they didn’t warn us “they” (GWB) would reduce the capital gains and dividend rates to 15%. Now I’m stuck paying 28% on the capital gains and dividends made over the years that the IRS requires I pay on IRA distributions. (I don’t want my tax rate reduced; I want the uber-wealthy to pay their marginal rates on their income, no matter where it comes from.)
sleepeeg3 over 12 years ago
How many times is he going to reuse this joke?
Varnes over 12 years ago
denis, what makes you think they don’t work? Many people of all stripes support them and protest with them, all over the country and the world. Almost all of them have a job. Why do you think they’re angry? Just because a person works doesn’t mean that he can actually live on what passes for paychecks nowadays…a single person with a couple kids can pay the rent even working full time…Working people should be the most upset about corporations stripping the income from everyday workers wages. You’re being screwed too, denis. But evidently you don’t mind…
gorbag over 12 years ago
@TheTrustedMechanic: One advantage of a privatized SS account is it can be inherited.
As for who’s managing the accounts better – government or private citizens – how’s that GM ‘investment’ working out for ya? Don’t confuse taxes you pay for SS as investment – the government can turn off the SS spigot tomorrow if they had the gumption. You have no rights to it – it ain’t your money.