Feds eye retirement-fund tax to cut $16 trillion-plus deficit

[Bob111]

Quote from JamesL:

???

i guess someone needs a transcript to understand Carlin's message from 2005...old man was right ..

You know what they want? They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shitty jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your retirement money. They want it back so they can give it to their criminal friends on Wall Street—and you know something? They’ll get it. They’ll get it all from you sooner or later ‘cause they own this fucking place! It’s a big club, and you ain’t in it! You, and I, are not in the big club.

http://whowhatwhy.com/2011/04/17/ge...m-a-few-dirty-words-and-a-whole-lot-of-sense/

 

[JamesL]

Quote from Bob111:

i guess someone needs a transcript to understand Carlin's message from 2005...old man was right ..

I guess someone needs to put the correct link into their post when they try to reference something.

Go ahead, click on the link in your original post.

Quote from Bob111:

http://www.elitetrader.com/vb/reply.php?action=newreply&threadid=241209

1:55

made in 2005

 

[Bob111]

Quote from JamesL:

I guess someone needs to put the correct link into their post when they try to reference something.

Go ahead, click on the link in your original post.

oh..sorry about that..my bad. didn't wake up yet

http://www.youtube.com/watch?v=acLW1vFO-2Q

 

[AAAintheBeltway]

Quote from Fractals 'R Us:

They don't deserve anything they are getting already. Republicans spend trillions on the War on Drugs when legalization would fix the whole problem, Democrats spend trillions buying Black Votes and call it "wiping out poverty" and both parties spend trillions on foreign wars.. The public sector currently has 50% of the GNP going through their sticky fingers and it's not enough. If they had 100% of the GNP they would still run a deficit.

People don't read the writing on the wall, they look at it and get on with the more distracting things at hand. IT'S OVER!! OK? More money won't fix the US Public sector.

Spot on.

Why should we have to pay more? Higher taxes will only alleviate the pressure to cut spending. And from history, we know congress will spend >100% of any increased revenues, leaving us in even worse shape.

 

[kashirin]

Quote from Covertibility:

How does a country that can print its own currency declare bankruptcy?

look what happened in Russia in 1998, to get an idea

 

[Covertibility]

Russia had a fixed exchange rate. Other defaulters would be those who were contrained by a gold standard, fixed peg or currency union. And of course lets not forget the conquered and dissolved countries, ie the Confederate South.

In terms of a country without a constraint, how the heck does it declare bankrutptcy when it can freely print?

It doesn't!!!!!!!!!! Really, that is the answer.

 

[Random.Capital]

Quote from AK100:

Just a matter of time before all countries start to raid the private pension funds - they all have no choice.

The US has been doing this since the second Reagan term made it a cornerstone of federal fiscal policy.

 

[Random.Capital]

Quote from Covertibility:


In terms of a country without a constraint, how the heck does it declare bankrutptcy when it can freely print?

Because the debt isn't internally funded and because the economy collapses without key commodity imports.

All of which have to be translated into "other people's" currencies.

Printing your own is no protection - not in the real world.

 

[BSAM]

There's only one relevant question and it ain't how much more will they confiscate from you.
That relevant question is: What year will the people in the USA get fed up and say "no more"?
My guess is somewhere around 2030 to 2040.

 

[mm19]

2017