Results 25 to 36 of 37
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03-19-2018, 09:25 PM #25
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03-19-2018, 10:22 PM #26
Re: Hillary looks like she's about 90 years old walking down steps in India
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03-20-2018, 12:13 AM #27
Re: Hillary looks like she's about 90 years old walking down steps in India
i dont care about the election. i want people to be educated and wealthy.
i like the idea australia has with their retirmentsavings.
http://business.time.com/2013/04/22/...rement-crisis/
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03-20-2018, 12:20 AM #28Legendary RSR Poster
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03-20-2018, 08:21 AM #29Regular 1st Stringer
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Re: Hillary looks like she's about 90 years old walking down steps in India
It is, but It would depress salaries nationally since it mandates employer contributions which is an additional cost.
I own a small defense contractor and we provide an 8% employer contribution into a SEP IRA. The employee can contribute if they want, but the investments are nondeductable, unlike the 401k. But the plan allows your to invest your employer's money into anything on the NYSE. unlike a 401k. Australia essentially mandates all employer's to the same starting at 9%.
While salaries would be lower (my employees would get higher offers if we didn't offer a retirement plan), it would at least force folks to have something set aside, though I tend to flinch anytime we discuss a new government mandate.
Unlike most employer-provided retirement plans in the US, I assume this would also somehow apply to non-salaried workers and consultants (1099s), though I am unsure how with current US tax laws.
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03-20-2018, 08:22 AM #30
Re: Hillary looks like she's about 90 years old walking down steps in India
Cool.
My response about retirement accounts was in response to Trump having a good record to run on in 2020. See below...
then...you responded...
So, 104 million people is a lot of people who are experiencing a surge in 401k income. That doesn’t include people who are making money from other investment programs. That’s a lot of people who would potentially be inclined to vote with their wallets...agree?
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03-20-2018, 08:31 AM #31
Re: Hillary looks like she's about 90 years old walking down steps in India
I was thinking the same thing.
These big government programs always come with a price...which inherently restricts us from how much money we can make in the free market. Bringing up the Scandanavian countries, they tax the hell out of their people in order to provide their big government programs. The US is the most free country in the world and that's one of the reasons our tax rate is well below the 34%average for developed countries. We could probably have these programs like Australia, but we would make less (lower salary) or keep less of our own money (higher tax rate).
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03-20-2018, 10:40 AM #32
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03-20-2018, 10:41 AM #33
Re: Hillary looks like she's about 90 years old walking down steps in India
this program will reduce use of social security and other programs for poor seniors so most likely will be a net benefit
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03-20-2018, 10:43 AM #34
Re: Hillary looks like she's about 90 years old walking down steps in India
It's still enough people to turn an election.
I'm pretty sure roughly 130 -140 million votes were cast for the office of president in Nov 2016. 104 million is a big number in that context.
In the context of the entire country, you are right. It's only 32%...and that's quite honestly kinda sad. I have liberal neighbors who don't have a 401k and they are both in their mid-late 30's. We were having a financial discussion once and they told me that they don't want any additional funds coming out of their paychecks. It was none of my business, so I didn't inquire further. I would say that I get it, but I don't.
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Re: Hillary looks like she's about 90 years old walking down steps in India
How many people are even of the age to invest in a 401k? Realistically we could say anyone over 18, but in reality we should say anyone over 24ish as it should be people of age to start a career.
Based on this, it appears 104 million people represents roughly 67% of the people who are in the age range to invest 25-65
https://www.kff.org/other/state-indi...2:%22asc%22%7D
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03-20-2018, 11:09 AM #36
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