National Retirement System

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Originally Posted by nynco

Ironically Argentina's system is a perfect example of what goes wrong when you privatize Soc Sec. They drank the free market coolaid and their economy melted down and along with it all the retirement savings of the nation.
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DU is that-a-way <<<<<<<<<<<<<<

Go find some facts first about how Argentina's retirements were STOLEN by the socialists before you start spouting off.

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Originally Posted by nynco

Ironically Argentina's system is a perfect example of what goes wrong when you privatize Soc Sec. They drank the free market coolaid and their economy melted down and along with it all the retirement savings of the nation.

I love this part too

"why Americans are not saving as much for their retirement as they could,"

Let me clue that guy in. Because it now takes two incomes to earn what one income could pay for 30+ years ago. Savings? heck most people just want to survive or fool themselves about the loss of wages by taking on more debt.

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Yeah... You probably should read up on that a little more before you post stuff like this.

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Originally Posted by nynco

Ironically Argentina's system is a perfect example of what goes wrong when you privatize Soc Sec. They drank the free market coolaid and their economy melted down and along with it all the retirement savings of the nation.

I love this part too

"why Americans are not saving as much for their retirement as they could,"

Let me clue that guy in. Because it now takes two incomes to earn what one income could pay for 30+ years ago. Savings? heck most people just want to survive or fool themselves about the loss of wages by taking on more debt.

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Here we go again!! More BS without fact finding!!

I know it's getting bad when i wish ronin would post something. He has so many tangents he goes off on you never know what road he'll be driving on. NYNCO NEVER any surprises.
RONIN WHERE THE HELL ARE YA KID?????????????????

How does this affect people who don't have a 401k, IRA, or otherwise?

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Originally Posted by Irving

How does this affect people who don't have a 401k, IRA, or otherwise?

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The only affect I could see on those folk is that they may soon be forced to contribute to 401k, IRA or other retirement account (much like you're now going to be forced to buy insurance).

Basically you'll find your 401k (or other) contribution forcibly removed from your pay check like social security.

THEN they'll nationalize all the 401ks to take that money to pay out to current recipients of social security and leave you with worthless treasury bills (or some other equally worthless faux "investment" that will end up being worth nothing by the time you retire).

Nothing but 100% pure Marxist redistribution of wealth.

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Originally Posted by hatidua

Sounds more like a scheme to redistribute the wealth of America's YOUNGER citizens to those who didn't plan adequately.

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F***in A! That is exactly waht it's about. It's about leaving people without a pot to piss in.

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Originally Posted by Zundfolge

The only affect I could see on those folk is that they may soon be forced to contribute to 401k, IRA or other retirement account (much like you're now going to be forced to buy insurance).

Basically you'll find your 401k (or other) contribution forcibly removed from your pay check like social security.

THEN they'll nationalize all the 401ks to take that money to pay out to current recipients of social security and leave you with worthless treasury bills (or some other equally worthless faux "investment" that will end up being worth nothing by the time you retire).

Nothing but 100% pure Marxist redistribution of wealth.

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That would really, really, REALLY piss me off. What if you didn't work for anyone?

They'll just boost the SET rate to compensate. I am willing to 100% guarantee that all US banks will be nationalized during the next (recesssion, depression, whatever you want to call it). That would be the only way that the .gov can try to control the currency, since Bernanke is determined to turn the US dollar into the 90s Mexican Peso. At the current rate of devaluation, by the time I'm ready to retire, being a millionaire will mean that you can afford a Coke with your McBurger.