And it's damn funny. Hat tip to Unix-Jedi: thanks. After a long night of stupidity at work, that made it all better.
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Pastor charged with felony for spanking his kid. This is why you have to listen to children screaming their heads off in stores and restaurants these days. Parents aren't allowed to discipline their children. And it's only going to get worse.
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Eternity Road on the upcoming election--a good read.
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Democrats want to strip tax-exempt status from 401k's, and set up a "new" retirement program. This "new" program will in fact just be an additional Social Security Ponzi scheme. The plan will invest money in savings bonds, which are "guaranteed" a 3% rate of return.
Oooh, pinch me! Three whole percent!
The person responsible for this bullshit says, "I want to spend our nation’s dollar for retirement security better."
Wait--"our nation's dollar"? Whose dollar? Whose?
When I earn money at a job, the money I earn is my money, not "our nation's" money. The government takes some of it from me by force (taxes) but it is still my money. If I choose to invest some of my money in a 401k, the transaction has nothing whatsoever to do with the government or "our nation". It's a transaction between me and whoever is administering the fund.
The entire reason for giving tax breaks to 401k investment is that it encourages people to place capital in the market. It's riskier than buying savings bonds, but the rate of return is much higher. Since--over time--the stock market always increases, it's a safe bet for someone as old as his mid-40s.
Once you start to get closer to retirement age, then it's time to think about moving money out of the 401k and into safer investments. Yes, people have been burned by the recent precipitous drop in market value; but those who are not planning to retire for 5, 10, 15 years will not notice much difference at retirement. The people who are planning to retire much sooner than that, however, are out of luck.
When you invest money, you can't just "set it and forget it". You have to look at where you are, where you want to be, and what options you have--and if you're 60 years old and thinking of retirement, you really shouldn't have a lot of your retirement money in risk-based investments--you should have started moving it into IRAs or savings bonds when you reached about age 55.
To me, this seems like common sense. Maybe I'm wrong.
But besides all that, you can find investments to suit any strategy--high-risk, high return; or low-risk, low return...or anything in between. You can make a lot of money if your investments are placed correctly, but if they're not--or if you move too slowly--you can lose a lot of money.
The Democrats' answer, though, is to eliminate the "subsidy"--which is a bullshit term in this case--for the 401k and instead tax people and make them give their money to the government. They say the money will be invested in "special government bonds", but as I recall they said much the same thing about the original Social Security system--and it's proven to be nothing more than a Ponzi scheme.
The last thing the Democrats want is for Americans to be able to make their own choices about anything. (Except killing their unborn babies; that choice is okay. But where and how to invest for retirement? You're too stupid to make good choices.) Especially how and where to invest for retirement.
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Target now sells the Eee PC. The 9" version. There was an endcap in the Electronics section with both black and white Eee on display. $299.99 and it's yours!
...the keyboard is too small for my hands.