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Trump looking 'very strongly' at Australia-style retirement system
Posted on 7/9/26 at 8:53 am
Posted on 7/9/26 at 8:53 am
Makes sense, but the swamp won't like their SS Trust Fund blue light special borrowing scheme taken from them.
Trump looking 'very strongly' at Australia-style retirement system: 'Taking that, making it sharper'
Australia’s retirement system is built around "superannuation," a mandatory savings program that requires employers to contribute 12% of a worker’s ordinary earnings into tax-favored retirement accounts managed largely by private funds, according to the Center for Retirement Research at Boston College.
Trump looking 'very strongly' at Australia-style retirement system: 'Taking that, making it sharper'
Australia’s retirement system is built around "superannuation," a mandatory savings program that requires employers to contribute 12% of a worker’s ordinary earnings into tax-favored retirement accounts managed largely by private funds, according to the Center for Retirement Research at Boston College.
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Posted on 7/9/26 at 9:00 am to Auburn1968
W Bush ran in the same retirement program and the Media and Democrats relentlessly framed it as trying to steal your SS.
That was in 2000. If you had been saving 12% for the past 26 years earning compounding interest, you’d be sitting on a small fortune for your retirement by now.
That was in 2000. If you had been saving 12% for the past 26 years earning compounding interest, you’d be sitting on a small fortune for your retirement by now.
Posted on 7/9/26 at 9:02 am to Auburn1968
quote:Exactly!
Makes sense, but the swamp won't like their SS Trust Fund blue light special borrowing scheme taken from them.
Posted on 7/9/26 at 9:05 am to jrodLSUke
The return on SPY is on average double that of the SS Trust Fund over the last 40 years.
Posted on 7/9/26 at 9:23 am to Auburn1968
With a 30k/year job in 2000 and never getting a raise it would be worth 600k today. I bet lots of gen x would be ecstatic with that number.
Posted on 7/9/26 at 9:28 am to Auburn1968
How about the gov’t get out of the retirement business altogether? People too stupid to plan for it? frick em.
Posted on 7/9/26 at 9:31 am to Auburn1968
Before anyone declares victory or disaster, Australia’s model isn’t just ‘private accounts.’ It’s mandatory employer contributions, professionally managed retirement funds, and a government pension. Whether it’s an improvement depends on the actual proposal not the label attached to it
Posted on 7/9/26 at 9:32 am to jrodLSUke
quote:
That was in 2000. If you had been saving 12% for the past 26 years earning compounding interest, you’d be sitting on a small fortune for your retirement by now.
Sounds nice, but if everyone has a fortune, then no one has a fortune.
Im being slightly facetious, but it would be interesting if we could determine the inflationary impact of having a much larger number of retired millionaires.
Posted on 7/9/26 at 9:33 am to jrodLSUke
quote:
W Bush ran in the same retirement program and the Media and Democrats relentlessly framed it as trying to steal your SS.
That was in 2000. If you had been saving 12% for the past 26 years earning compounding interest, you’d be sitting on a small fortune for your retirement by now.
1000% correct. W tried to save our country and they crucified him.
Posted on 7/9/26 at 9:38 am to Auburn1968
quote:
Makes sense, but the swamp won't like their SS Trust Fund blue light special borrowing scheme taken from them. Trump looking 'very strongly' at Australia-style retirement system: 'Taking that, making it sharper' Australia’s retirement system is built around "superannuation," a mandatory savings program that requires employers to contribute 12% of a worker’s ordinary earnings into tax-favored retirement accounts managed largely by private funds, according to the Center for Retirement Research at Boston College.
That would be nice. I’ve been capped at 6% for the last 12 years so I can’t take advantage of the $24,500 cap of 401k. 12% would be awesome but something would have to give. I’ve got a 4% raise every year for the last 12 years outside of the 1st year of covid when they froze salary’s. They also match me for the first 5 to 6 percent in my 401k depending on profits.
Posted on 7/9/26 at 9:41 am to NC_Tigah
If you subscribe to the theory that eventually, whether it's a stock market crash or a ponzi scheme like SS, the entire system collapses into chaos, whether it's a government managed or private equity managed, it's all going to disappear rapidly sometime in the future.
btw....
In case you weren't aware: Rosland Capital goes Bye-Bye!
btw....
In case you weren't aware: Rosland Capital goes Bye-Bye!
Posted on 7/9/26 at 9:43 am to Auburn1968
Knowing our Government, they’d either steal it or devalue it, so…..
Posted on 7/9/26 at 9:48 am to jrodLSUke
quote:Correct.
That was in 2000. If you had been saving 12% for the past 26 years earning compounding interest, you’d be sitting on a small fortune for your retirement by now.
For a current new 67y/o retiree who's been contributing to SS for 45yrs, every dollar he put in 45yrs ago is worth $3.40 today. Had the same $1 been put into an S&P account with reinvested dividends, it would be worth >$100.00 today. So yes, going to that type plan would be a boon compared with SS ROI.
Posted on 7/9/26 at 9:56 am to Auburn1968
I like this idea a lot, but Congress won't give Trump a win. This would be a win, so we can forget it.
The Senate won't even take a formal recess, because it would allow Trump to fill his nominations from 18 months ago with recess appointments. I wouldn't expect them to actually accomplish something major.
The Senate won't even take a formal recess, because it would allow Trump to fill his nominations from 18 months ago with recess appointments. I wouldn't expect them to actually accomplish something major.
Posted on 7/9/26 at 9:57 am to LawTalkingGuy
quote:
Sounds nice, but if everyone has a fortune, then no one has a fortune.
People dont like to talk about it but if everyone had money, inflation and basic necessities would be 1000x worse than our worst times of inflation.
Posted on 7/9/26 at 9:57 am to Auburn1968
Isn’t the SS payouts throttled in Australia too based on your retirement income and net worth? Meaning you’re not getting everything you put in if you have other personal wealth?
Posted on 7/9/26 at 9:58 am to Auburn1968
Would likely depress wages like payroll taxes do, but at least this would be deferred for the individual and not just a blackhole of theft.
Posted on 7/9/26 at 9:58 am to HubbaBubba
quote:I don't.
If you subscribe to the theory ... it's all going to disappear rapidly sometime in the future.
I do subscribe to the theory that the very folks whom the system claims to be "saving" through redistributional economic policy will get absolutely decimated by inflation when fiscal dominance hits.
Posted on 7/9/26 at 9:58 am to Auburn1968
quote:
tax-favored retirement accounts managed largely by private funds
Wall Street is about to get crunk!
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