President Trump

[UpstateNYUPSer(Ret)]

As always there will be winners and losers. It sounds like a good attempt to simplify tax codes a bit but I see little chance of it making it through Congress without some special interest groups getting more tax breaks.

Such as?

 

[tonyexpress]

How about this fix for social security?
http://www.investmentnews.com/artic...-social-security-fix-allot-7000-for-each-baby
Ric Edelman proposes Social Security fix: Allot $7,000 for each baby

Ric Edelman, executive chairman of Edelman Financial Services, introduced a plan Wednesday in which the federal government would set aside $7,000 for each newborn baby for 35 years and invest the funds for the child's retirement. An investment board appointed by Congress and the president would make portfolio decisions. After the initial 35 years, the government would recoup its initial outlay and use the proceeds to reinvest for the next 35 years of births.

After 35 years, the average value of the investment for each child would be $93,000, based on an annual 7.68% return, according to Mr. Edelman. By the time child retires at 70, he or she would have $1 million, or an average monthly payout of about $1,341, which matches the current Social Security benefit.

 

[wkmac]

How about this fix for social security?
Ric Edelman proposes Social Security fix: Allot $7,000 for each baby

Ric Edelman, executive chairman of Edelman Financial Services, introduced a plan Wednesday in which the federal government would set aside $7,000 for each newborn baby for 35 years and invest the funds for the child's retirement. An investment board appointed by Congress and the president would make portfolio decisions. After the initial 35 years, the government would recoup its initial outlay and use the proceeds to reinvest for the next 35 years of births.

After 35 years, the average value of the investment for each child would be $93,000, based on an annual 7.68% return, according to Mr. Edelman. By the time child retires at 70, he or she would have $1 million, or an average monthly payout of about $1,341, which matches the current Social Security benefit.

Why not put this and many more ideas out on the table? Why not even let local communities create some form of retirement that reinvests back into the local economy? Why do we even have a top-down one size fits all to begin with? I blame both sides equally for having such narrow thinking that continues to fail to move people forward in a good way.

 

[ImWaitingForTheDay]

If you believe in trickle down economics try it at home. Have your boss cut your pay and let your creditors know that you are expecting a big revenue increase by bringing home less money. See if the same corporations who are rooting for this crap set back and wait for your magic revenue increase.

 

[wkmac]

If you believe in trickle down economics try it at home. Have your boss cut your pay and let your creditors know that you are expecting a big revenue increase by bringing home less money. See if the same corporations who are rooting for this crap set back and wait for your magic revenue increase.

Would that suggest when it comes to a retirement type system in the case of a broad based public approach, you are only interested in maintaining the status quo and nothing else?

 

[Jones]

I'm interested in tweaking and strengthening the current system. I wouldn't mind seeing SS strengthened to the point where it's effectively a portable national pension system that follows you from job to job.

 

[wkmac]

I'm interested in tweaking and strengthening the current system. I wouldn't mind seeing SS strengthened to the point where it's effectively a portable national pension system that follows you from job to job.

You can also entertain other public options that doesn't strip economic capital out of local economies that get shipped to Washington only to be misused by Washington to loan out at nothing rates which over time eats away at the public value of the fund. Not unlike something similar to Central States. Social Security has become a slush fund used to mask the problem of crony capitalism's private use of the State.

 

[Jones]

You can also entertain other public options that doesn't strip economic capital out of local economies that get shipped to Washington only to be misused by Washington to loan out at nothing rates which over time eats away at the public value of the fund. Not unlike something similar to Central States. Social Security has become a slush fund used to mask the problem of crony capitalism's private use of the State.

I'm way too invested in the current system to be ok with tossing it out. Got ideas to fix it and make it better? I'm all ears. Burn it down and replace it with some new untested idea? No thank you. I'm too old to start over.

 

[wkmac]

I'm way too invested in the current system to be ok with tossing it out. Got ideas to fix it and make it better? I'm all ears. Burn it down and replace it with some new untested idea? No thank you. I'm too old to start over.

You think I'm not vested either and I'm older than you. That said, you can still keep the stucture but lock it down so Congress and political cronyism can't use it as a slush fun. You can't and won't end Social Security, I'm saying keep the public option but make it where politicos can't bleed it dry which maintaining the status quo is doing.

 

[Jones]

You think I'm not vested either and I'm older than you. That said, you can still keep the stucture but lock it down so Congress and political cronyism can't use it as a slush fun. You can't and won't end Social Security, I'm saying keep the public option but make it where politicos can't bleed it dry which maintaining the status quo is doing.

Well sure, I'm ok with that.

 

[wkmac]

Well sure, I'm ok with that.

I do find it interesting the argument that letting banks fail in 2008' was beyond thought on the grounds it would be economically catastrophic and thus they got a bailout. Yet the same people they argued would be harmed by collapsed banks are the very ones harmed by the disaster that is how the present SS system is run yet not the first politician has dare to suggest a bailout. Social Security is slowly stolen to pay for the continuing warfare State.

Why we refuse to see through their hypocrisy is beyond me.

 

[brownmonster]

Just watched the press conference.

Tax brackets reduced from 7 to 3.

Standard deduction doubled.

First $24K of gross income for married couples tax exempt.

Mortgage interest and charitable deductions remain--all other deductions eliminated, including 401k and student loan interest.

2 of the biggest long term problems for people are student loan debt and not saving for retirement. Another Republican plan to benefit the people.

 

[newfie]

So tax payer funded travel for the executive and his family is bad. So do you oppose Trump's constant vacations or it's only a problem when a democrat does it?

travel for the president and first lady is a necessary evil. Bring along the extended family and listing them as staffers so the taxpayer foots the bill is bad.

 

[newfie]

I do find it interesting the argument that letting banks fail in 2008' was beyond thought on the grounds it would be economically catastrophic and thus they got a bailout. Yet the same people they argued would be harmed by collapsed banks are the very ones harmed by the disaster that is how the present SS system is run yet not the first politician has dare to suggest a bailout. Social Security is slowly stolen to pay for the continuing warfare State.

Why we refuse to see through their hypocrisy is beyond me.

there are many hypocrisy's to chase

 

[wkmac]

there are many hypocrisy's to chase

There are. Makes for loads of fun for the contrarian.

 

[wkmac]

This is really what it is all about at the end of the day!

 

[rickyb]

Hilliard MacBeth Retweeted
Ivan the K, LLC™‏ @IvanTheK 20h20 hours ago




EXCLUSIVE LOOK AT THE NEW TAX FORM FOR THE WEALTHY:

 

[rickyb]

what did trump promise in his campaign about NAFTA (described as the biggest blow to workers in 50 years) and what is he actually doing now?

 

[rickyb]

see "public citizen global trade watch" for more on Trump backing down on NAFTA

 

[Sportello]

travel for the president and first lady is a necessary evil. Bring along the extended family and listing them as staffers so the taxpayer foots the bill is bad.

Ivanka and Jared?