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re: If one of the Democratic Candidates becomes President, what to do with your money?
Posted on 7/1/19 at 12:59 pm to LSUFanHouston
Posted on 7/1/19 at 12:59 pm to LSUFanHouston
quote:
But all of the more crazy stuff - stealing investment accounts, etc, won't likely ever happen. Never say never, but I wouldn't plan for that.
the concept of the US government confiscating retirement accounts is so far fetched and absurd that it almost warrants no discussion. if this country ever gets the point where that is even a feasible idea, we all have bigger things to worry about than our damn retirement accounts.
the fear mongering on both sides is just out of hand, and this thread is a great example of what it leads to. even the "socialist" dems aren't true socialists. they aren't advocating for socialism. they are advocating for expanding the social safety net and things like student loan forgiveness. that's not socialism. nobody is arguing for wholesale scrapping of capitalism. that's just a straw man being used to rile up people who, for the most part, don't have the intelligence to see it for what it is.
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Posted on 7/1/19 at 2:23 pm to lsujro
quote:
the concept of the US government confiscating retirement accounts is so far fetched and absurd that it almost warrants no discussion. if this country ever gets the point where that is even a feasible idea, we all have bigger things to worry about than our damn retirement accounts.
the fear mongering on both sides is just out of hand, and this thread is a great example of what it leads to. even the "socialist" dems aren't true socialists. they aren't advocating for socialism. they are advocating for expanding the social safety net and things like student loan forgiveness. that's not socialism. nobody is arguing for wholesale scrapping of capitalism. that's just a straw man being used to rile up people who, for the most part, don't have the intelligence to see it for what it is.
Faith partially restored here on the MT.
Posted on 7/1/19 at 2:32 pm to lsujro
quote:
the fear mongering on both sides is just out of hand, and this thread is a great example of what it leads to. even the "socialist" dems aren't true socialists. they aren't advocating for socialism. they are advocating for expanding the social safety net and things like student loan forgiveness. that's not socialism. nobody is arguing for wholesale scrapping of capitalism. that's just a straw man being used to rile up people who, for the most part, don't have the intelligence to see it for what it is.
Thank you (seriously).
Posted on 7/1/19 at 3:20 pm to lsujro
Ignorance is indeed bliss. And your bliss is the same establishment Institutional bliss that societies always exhibit before the tumult and upheaval change the game . It’s the same as the Bankruptcy principle - it happens very slowly and then ALL AT ONCE. Those with the most to lose are always the most surprised . And the most resistant to the idea that anything bad could ever happen.
It’s a form of Institutional decadence- a hubris of the insular. A belief that because one is rational and constructive that others are rational and constructive. And yet history is replete with those who just want to see the world burn, lighting the world aflame because their moment finally arrivesd. While others stand there with their mouths agape, not believing that humans are once again acting like humans. It is folly to believe America is immune to these forces.
It’s a form of Institutional decadence- a hubris of the insular. A belief that because one is rational and constructive that others are rational and constructive. And yet history is replete with those who just want to see the world burn, lighting the world aflame because their moment finally arrivesd. While others stand there with their mouths agape, not believing that humans are once again acting like humans. It is folly to believe America is immune to these forces.
This post was edited on 7/1/19 at 3:32 pm
Posted on 7/1/19 at 3:32 pm to Lsupimp
We are much, much closer to a fascist regime than we are a socialist one.
Posted on 7/1/19 at 3:58 pm to Lsupimp
quote:
It’s a form of Institutional decadence- a hubris of the insular. A belief that because one is rational and constructive that others are rational and constructive. And yet history is replete with those who just want to see the world burn, lighting the world aflame because their moment finally arrivesd. While others stand there with their mouths agape, not believing that humans are once again acting like humans. It is folly to believe America is immune to these forces.
Good grief, give the overwrought prose a rest.
Yes, it's worth remembering that some want to "watch the world burn": today is the anniversary of the start of the three-day battle of Gettysburg. ~3,500 Americans died in that battle of the Civil War, with +25,000 casualties in all. It was, at its heart, an economic fight on one side, and an ideological one for the other side.
In that particular case, I'm happy the ideologues won over those who wanted to preserve their particular brand of capitalism. Slavery is/was abhorrent; its end bankrupted many. The end of the pecular institution still needed to happen, even though massive amounts of "wealth" were destroyed by the freeing of humans who should have never been counted as capital.
Change is a constant, and often, the greater good is served even though it causes economic pain for some in the short term. Diversify your investments, know that you have "enough" and could likely live well & happily with far less, and you'll sleep better at night & not worry so damn much about bogeymen who may or may not be under your bed.
Posted on 7/1/19 at 3:59 pm to Lsupimp
People prefer your bloviating on the poliboard, keep it over there. 
Posted on 7/1/19 at 4:10 pm to lsujro
quote:
student loan forgiveness
Maybe this should be it's own thread, but I'd love the MB's opinion on this (just student loan forgiveness and not free college).
As someone that is currently paying on student loans, I think it's completely absurd to forgive the debt. The money comes from taxpayers and over half the taxpayers do not have a college degree.
If you took out your entire college on student loans and got a worthless degree, well that is your fault; not the taxpayers. I am all for making college cheaper by eliminating worthless degrees or, at the very least, let only private colleges offer certain programs and state colleges offer more STEM programs, which would make state institutions cheaper by eliminating entire departments.
Posted on 7/1/19 at 4:26 pm to Lsupimp
quote:
Ignorance is indeed bliss.
No one is being ignorant. Just because one doesn't shout at the wind like you do, doesn't mean we are being ignorant.
We hear and read, more so than most. We understand that the whining of a few politicians does not equal a socialist revolution. We don't have kings or dictators, and there is no majority of support for such. Not to say in the future history it will NEVER happen but the idea is far away.
A strong majority in this country do not support any expansion of socialism (we already have some forms of socialism in our country, mainly SOCIAL security). Any expansion of socialist programs would require majorities in all three branches of government, which is not likely to happen.
Making plans based on highly unlikely scenerios is likely worse than making no plans at all.
Posted on 7/1/19 at 4:31 pm to Lsupimp
Posted on 7/1/19 at 4:31 pm to rowbear1922
quote:
but I'd love the MB's opinion on this (just student loan forgiveness and not free college).
Not that I support either, but I don't think you can do one without the other. Free college for new students would result in likely riots. Forgiving debt while allowing new students to take on debt will be a moral hazard of a significant nature that will cause tremendous harm.
On a macro level, I understand that loan repayments are squeezing a lot of young adults, preventing them from saving, buying homes, investing, etc. All of which cause some greater than zero level of harm to some sectors of our economy.
I think the current income-based repayment plans need to be expanded. I could also see an option in which the loans can be discharged - or at least amended - in bankruptcy. There would have to be some pretty tight rules on that to prevent fraud, though.
Posted on 7/1/19 at 4:35 pm to LSUFanHouston
This belief that we alone are immune from the forces of human nature and history is unique to America. Specifically those Americans who believe that our prosperity and relative stability will somehow immunize us from the human condition. You guys truly believe that we are insulated from political collapse. As a student of history this amuses me. Because it will insulate us . Until it doesn’t.
Posted on 7/1/19 at 4:45 pm to Lsupimp
quote:
You guys truly believe that we are insulated from political collapse. As a student of history this amuses me. Because it will insulate us . Until it doesn’t.
we are pretty well insulated. that's kind of a defining characteristic of any successful government system. is tehre some remote possibility that it all goes to anarchy at some point? sure it is. but it's also possible an asteroid wipes out half the planet. if that's the metric by which you are trying to make retirement decisions, i think you're worrying about the wrong things. and also probably reading the wrong board
Posted on 7/1/19 at 4:54 pm to lsujro
Interesting that you would compare political collapse to “ asteroids wiping out half the planet “ when most of the Founding Fathers spent the rest of their lives reflecting on the fragile nature of our Republic and reminding us how easily we could lose it.
I’m sure they’d appreciate your hubris.
I’m sure they’d appreciate your hubris.
Posted on 7/1/19 at 5:04 pm to Lsupimp
How do you save for retirement? Money in your mattress...precious metals buried in your backyard...guns and ammunition?
I’m interested how you plan for retirement with such a negative outlook for the future.
I’m interested how you plan for retirement with such a negative outlook for the future.
Posted on 7/1/19 at 5:11 pm to naturegator83
quote:
I know many on this forum are Democrats but the Democratic candidates truly have me worried. One of the things that was made painfully obvious during the Democratic debates the last few nights was how much the Democratic candidates hate capitalism and wealth. They truly despise the idea of winners and losers and they want to equal the playing field.
Whether it's reparations, medicare for all, free college, it's obvious the general idea is wealth confiscation and evening out the playing field. Heck they even admitted they will raise taxes on the middle class.
I consider myself lower middle class, I make around 50k a year right now. I automatically have 10% of my paycheck sent to my Roth 401k. My company matches 3/4 up to 8%. My contributions go towards my Roth 401k whereas my company contributions go towards my Traditional 401k. In terms of liquid wealth I probably have around 125k.
Obviously I don't have a lot of money by any means, definitely not enough to look at setting up an offshore account. But I do have enough to get screwed over with higher taxes while not getting any benefits by the government. With that said, what should those of us look at doing in case a Democrat does somehow get in office? I'm really worried that one of the first things they'll go after are 401k's and other retirement accounts, but being 35 I don't think anything is off the table long term for the Democratic candidates.
When Obama got elected there were people saying the same thing, but the market was already in turmoil so they were saying don’t get back in yet. When the second election came around lots of people were again saying he was going to kill the market.
They were very wrong.
Posted on 7/1/19 at 5:16 pm to iAmBatman
Surely You can do better than an insulting straw man.
Posted on 7/1/19 at 5:50 pm to Lsupimp
Surely you can answer the question
Posted on 7/1/19 at 6:09 pm to KamaCausey_LSU
quote:
Most that I know who aren't near retirement age are not counting on SS existing when they retire anyway.
I thought the same 30 years ago. SS isn't ever going away. At least not for the ones who blew through every thing.
Encouraging you to save, isn't it?
Posted on 7/1/19 at 8:16 pm to Lsupimp
Formal request to the admins to move this steaming pile of dogshite thread off the money board to the godforsaken poli board.
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