get<\/em> worse. The market turmoil has some politicians on Capitol Hill eyeing the end of the 401(k) as we know it.<\/p><\/blockquote>\nWe have a Social Security system that is currently running on fumes, backed by a trust fund containing a treasure trove of I.O.U.s.<\/p>\n
We have\u00a0a generation of taxpayers that hold little hope of ever recouping their contributions, many (most?) of which aren’t saving enough to make up for it. What is the solution?<\/p>\n
Take away the tax benefits of saving into a 401k including the incentive the employer has to match contributions.<\/p>\n
In exchange for what?<\/p>\n
Another Social Security benefit. Guaranteed by whom?<\/p>\n
The U.S. Government.<\/p>\n
The same government that has pissed away $10,000,000,000,000 (and counting).<\/p>\n
What would the money be invested in?<\/p>\n
Special “Government Bonds” that would pay inflation plus three percent. Forfeit a bouquet of shares in a carefully arranged and assorted arrangement of global enterprises that have averaged between 8 and 12 percent per year over periods of time that easily fit twice within the average career span.\u00a0Trade them for a share\u00a0of the magnificent crater\u00a0that forty years of\u00a0tax-once, spend-thrice government corruption and mismanagement has left for us and the next twenty generations.<\/p>\n
Sounds swell.<\/p>\n
I’ll take my chances with the stock market, thank you.<\/p>\n
Democrats think Americans are too stupid to save for retirement. The sad thing is, they might be right. Most don’t save enough. We know that.<\/p>\n
As usual, the Democrats think it’s the government’s job to confiscate the hard-earned assets of\u00a0the self-reliant, the prudent, and the hard-working and dole it out\u00a0to the spendthrifts, the lazy, the\u00a0leeches\u00a0who can’t or won’t do anything for themselves…but vote.<\/p>\n","protected":false},"excerpt":{"rendered":"
There are a lot of movies whose sequels should not have been made. The first installment sucked bad enough. The pay-as-you-go Social Security system is another such performance for which a sequel would be inadvisable to say the least. A lot of Conservatives are concerned that a Democratic Trifecta may lead to a level of […]<\/p>\n","protected":false},"author":228,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,35,51],"tags":[],"class_list":["post-3532","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-money","category-liberal-tyranny"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/228"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3532"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3532\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3532"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}