Warning: commie racist bullshit ahead -- watch your wallet.

demoncraps are trying to hatch a plan to increase the punishment ( taxation ) on productive people to make it easier on the less productive.  

http://news.yahoo.com/column-why-minorities-losing-retirement-race-133259262--sector.html

Partial text:

CHICAGO (Reuters) - The issue of retirement inequality has caught fire in Washington, D.C., and a report issued this week throws a new log on the flames.

The report zeroes in on the appalling gap in retirement security among racial groups in America. The National Institute on Retirement Security (NIRS), a non-profit research group, found that workers of color - especially Latinos - are far behind whites by every measure. They are significantly less likely than white workers to be covered by a workplace 401(k) or defined-benefit pension. Tossing non-workplace accounts into the picture - individual retirement accounts, Roths, SEP IRAs - the report finds that two-thirds or more of black and Latino households have no retirement savings at all.

The report comes on the heels of a legislative proposal from progressive Democrats to address retirement inequality through an expansion of Social Security benefits. They want to increase benefits for everyone by 10 percent, but would target additional increases to retirees in the low and middle end of the income distribution, most of whom rely on Social Security for nearly all their retirement income.

Senator Tom Harkin (D-Iowa) has introduced legislation, which got a boost recently when Democratic rock star Senator Elizabeth Warren (D-Massachusetts) embraced it. While the plan has no chance of success in the current Congress, Warren's support added considerable visibility.


More at the link.

redistribution of wealth is how the commies stay in power for evar.

I starting saving early, because my ass doesn't plan to work till I'm 80.

F*** you all you parasites.

Where can someone move money to avoid all this shit? Bitcoins???

The Swiss aren't an option anymore.

Nowhere.



If you leave, the IRS will charge you an exit (expatriation) tax.







 

One of the prerequisites to having wealth, let alone a retirement, in the first place is not spending it.

That's always the little detail that these people conveniently leave out.  Just about anyone can achieve a secure retirement RELATIVE to their means if they sock away 15% of their gross right from the start.  It's not rocket science, it's just math.

are they going to re-distribute all the fat cat .gov pensions?

Not if his dough is in Bitcoins.

I've been saving all my working life (since age 14)... I've tapped it once to pay for the down on my house. Unforunately, even putting away 25% a year I still know I likely won't be able to retire the way my grandparents and parents have.

Leave my pension alone

Anything to take attention away from the disaster that is Obamacare, right?

Don't be silly peasant.  They 'earned' that.  You -- not so much.

OOPS.................
Unfunded Public Pensions - The Next Quagmire

I have a sneaky suspicion bitcoins will be getting "attention" from multiple governments, The Fed and other reserve banks, the IRS, etc... once they figure out how to control the trade/ market.  Just a hunch, but I think it'll be sooner rather than later.  I hope I'm wrong, but I don't see governments and such leaving this alone for long.



 

I thought Latinos were white?


I'm confused again I guess.

This. ^^^^

I knew this was coming. Those who put away and managed their money wisely will be punished and those that squandered away and never saved anything will be rewarded.

I'm sorry you made poor choices in life, and didn't get ahead like you were promised you would. I'm also sorry that you couldn't live within your means while saving for a later date. I feel really bad for all that, so here.......let me help you out. It's the least that I can do

I have little doubt my 401K will be robbed by the time it comes for me to use it.

So the Dems want to boost everyone by 10%, do your remember what they said when Bush wanted to cut tax rates an equal amount across the board?  They were protesting that the rich benefited the most from the Bush tax cuts.  Well the rich would also benefit the most from a social security increase.  The Dems hate poor people.

I had to explain how retirement works to my mother in law. She fell for the story how Romney only had a 15% tax rate.

I made some post on facebook about the government wanting to tax investment income at the same rate as working people. I went on with an example of people in retirement live off their investment income and don't have to touch their principle. I explained it would hurt lots of people who were retired.

One day she made a comment how I planned on saving for that $2 Million (before taxes) I'd need to have $100K a year in interest. Well, I've started saving now and that $2M is not that hard if you don't blow money away when you work.

Stupid people will be the downfall of this country.

that will make SS more solvent.

You are putting too much thought into it.

evil demoncrap: " Hey Mr minority -- If i take some money from whitey and give it to you will you vote for me?"
stupid leftist follower:  " Sure"

This is another reason we're going bankrupt. Fing pensions.

Sounds great on paper back in the day, but now the company goes under and there goes your pension.

Government pensions last longer, because the government can just print more money. One day the system will fail though.

Do it. Do it.  Do it.

I do not know of any workplace that specifically excludes someone from these based on race. I suggest they state that Latino's are less likely to save and contribute to these plans. I would have to say that from what I saw while working for a Fortune 50 company Asians take retirement VERY seriously, followed by whites, blacks then Latino's.

I remember water cooler convos when those of us in our mid-40s were bitching about 401k's and the one latino in the area said "Well then I am lucky as I don't put money in those things". Don't know what he did so maybe he had a financial advisor and was a whiz at stocks but that struck ne as

So it is cool to say "person of color" but it is uncool to say "a colored person"?  Is there a PC handbook that I can read?

I'd opt out of social security if I could right now.

Give me the money I'm paying into that crap, oh and the portion my employer pays on my part.

I'll do something with it that will generate a higher return, and be able to use it when ever I feel like taping into it.

My rate of return on my 401K this year is 32.8%. Tell me how the government can do better?

The last few years have made it perfectly acceptable for even very prominent public figures to ask if "Capitalism has run it's course" i.e. let's give Communism a try.

I remember when Obama was first elected there were shocked reactions from Liberals at the "Socialism"  posters of him appearing.   Now Socialist ideas are openly discussed like it's a good alternative.

Yet another redistribution of wealth.

Hardly newsworthy.

What are you going to do, steal a plane and crash it into an IRS building?  You will just be considered another loon.

Fuck that, cash out in any way you can so that you can retain as much of your wealth as possible, even if your method breaks the law, then leave for a more free country.  They don't follow the law, why should you?

Without knowing the specifics of your situation, I'd venture to guess that you either don't make as much as gramps, gramps had a sweet pension deal that was unsustainable, and/or your grandparents had a significantly lower cost of living than you realize.

And what country might that be? I doubt any that would allow me to take my guns with me.

Since 1986 the "fat cat" pension you're talking about consists of three things:
1. A Basic Benefit Plan
2. Social Security
3. Thrift Savings Plan (TSP) (basically a 401k)

You can take out #2 and #3 since this applies to pretty much everyone (if not, change employers).

That leaves the Basic Benefit Plan, or "fat cat pension" you're talking about and it isn't what you think.
If you retire after 20 years and were making $100k for the last three you would get a whopping $22k/year.

If you're a Congress critter, thats a different story as they have their own "special" formula...

How can they oppress themselves? I'm confused as well.

People who blow their money on inconsequential crap instead of saving it don't have savings when they retire?

SHOCKING!!!!

What's more important your guns or your wealth.  Pick one, because the way this is heading you won't have both.  Hell, the way the liberals are pushing you may not have EITHER if you stay.

Galveston and several counties in south Texas managed to opt out years ago through some loophole and their returns are 10X what they would have been if they just stayed in the "provided" system.