Page 3 of 13 FirstFirst 12345 ... LastLast
Results 21 to 30 of 127

Thread: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

  1. #21
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 03:28 PM
    Gender
    Lean
    Conservative
    Posts
    30,306

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    This is not about race, short of one hyperbolic poster above.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  2. #22
    Discount Philosopher
    specklebang's Avatar
    Join Date
    Jan 2012
    Location
    Las Vegas
    Last Seen
    06-05-14 @ 08:26 PM
    Lean
    Other
    Posts
    11,524

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    OMG. Are you serious? Do you have a link about this?

    While I don't have a 401K I know what they are and if the government grabs them I will be marching along with all the other victims.

    More info appreciated.


    Quote Originally Posted by PirateMk1 View Post
    You set your account up in good faith, now the goverment is talking about taking it and putting into Social Security and just giving you a 3% return. That aint kosher no matter how you look at it.

  3. #23
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 03:28 PM
    Gender
    Lean
    Conservative
    Posts
    30,306

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by Simon W. Moon View Post
    Somehow, when you trace the links back to the source, the source is different than what the links purport it to be.
    Go figure.

    http://www.whitehouse.gov/sites/defa...ddle-class.pdf

    Could you explain the following parts for me?

    "Update 401(k) Regulations to Improve Transparency and Reliability. A majority of American
    workers rely on 401(k)-style plans to finance their retirements The Administration is proposing
    new regulations
    to improve the transparency and adequacy of 401(k) retirement savings."

    What new regulations?

    "Promoting the availability of guaranteed lifetime income products, which transform at least a
    portion of retirees’ savings into guaranteed future income, reducing the risks that retirees will
    outlive their savings or that their living standards will be eroded by investment losses or inflation."

    Hmmmm...Sounds like a take over to me....

    "All workers, no matter their level of financial sophistication, should have access to well-diversified low-
    cost investment options They should also have an easy way to put a portion of their savings in a safe,
    inflation-protected investment choice While Treasury Inflation-Protected Securities (TIPS) and I Savings
    Bonds offer this kind of protection today, many investors are unfamiliar with them or lack an easy way
    to access these options in their retirement accounts To address this, some have suggested the creation
    of Guaranteed Retirement Accounts (GRAs), which would give workers a simple way to invest a portion
    of their retirement savings in an account that was free of inflation and market risk, and in some versions
    under discussion, would guarantee a specified real return above the rate of inflation These accounts
    would allow workers to be sure that the funds invested in them will grow steadily without the risk of a
    market collapse."

    Now come on, we are young, but we weren't born yesterday. We all know how progressives work, using baby steps to achieve their goals....This to me is not what I think most people want.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #24
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by American View Post
    This is very rare, don't believe anyone who tells you this is common; especially people only making $60K/yr. <<< These people obviously are not raising families either.
    They were just willing to put a lot into it apparently. In my area, the people who work at this particular plant have traditionally been paid about 2:1 to most blue-collar jobs in the area even when there were other big employers and people used to get production pay (not anymore though) beyond a certain amount where they could pick up a ton of bonus pay just by being solid consistent producers. Housing costs are pretty cheap too. My brother said he is too chicken to put money into some of the funds those guys still play because they will lose tons of money as easily as they make it and he doesn't have the guts to risk his entire retirement or even some of it. That was before the banking collapse, so they may be all broke for all I know now. It is not something I really have asked about in awhile He equated it to high-stakes poker though.

  5. #25
    Discount Philosopher
    specklebang's Avatar
    Join Date
    Jan 2012
    Location
    Las Vegas
    Last Seen
    06-05-14 @ 08:26 PM
    Lean
    Other
    Posts
    11,524

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    With interest rates artificially low and "real world inflation" extremely high and a Federal Reserve trying to destroy the dollar enough to make paying debts easier for them, this isn't a very good idea.

    Quote Originally Posted by j-mac View Post
    Could you explain the following parts for me?

    "Update 401(k) Regulations to Improve Transparency and Reliability. A majority of American
    workers rely on 401(k)-style plans to finance their retirements The Administration is proposing
    new regulations
    to improve the transparency and adequacy of 401(k) retirement savings."

    What new regulations?

    "Promoting the availability of guaranteed lifetime income products, which transform at least a
    portion of retirees’ savings into guaranteed future income, reducing the risks that retirees will
    outlive their savings or that their living standards will be eroded by investment losses or inflation."

    Hmmmm...Sounds like a take over to me....

    "All workers, no matter their level of financial sophistication, should have access to well-diversified low-
    cost investment options They should also have an easy way to put a portion of their savings in a safe,
    inflation-protected investment choice While Treasury Inflation-Protected Securities (TIPS) and I Savings
    Bonds offer this kind of protection today, many investors are unfamiliar with them or lack an easy way
    to access these options in their retirement accounts To address this, some have suggested the creation
    of Guaranteed Retirement Accounts (GRAs), which would give workers a simple way to invest a portion
    of their retirement savings in an account that was free of inflation and market risk, and in some versions
    under discussion, would guarantee a specified real return above the rate of inflation These accounts
    would allow workers to be sure that the funds invested in them will grow steadily without the risk of a
    market collapse."

    Now come on, we are young, but we weren't born yesterday. We all know how progressives work, using baby steps to achieve their goals....This to me is not what I think most people want.

  6. #26
    Ideologically Impure
    Simon W. Moon's Avatar
    Join Date
    Apr 2005
    Location
    Fayettenam
    Last Seen
    Yesterday @ 06:39 PM
    Gender
    Lean
    Conservative
    Posts
    16,945
    Blog Entries
    5

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by j-mac View Post
    Could you explain the following parts for me?
    Would it help?

    Quote Originally Posted by j-mac View Post
    "Promoting the availability of guaranteed lifetime income products, which transform at least a
    portion of retirees’ savings into guaranteed future income, reducing the risks that retirees will
    outlive their savings or that their living standards will be eroded by investment losses or inflation."
    Hmmmm...Sounds like a take over to me....
    Promoting availability of financial products sounds the same as stealing someone's 401k to you.
    That's...well...not sure what to say. If the actual words themselves don't convince you, I doubt that even more words would have much impact.

    Do you remember sentence diagramming?

    Quote Originally Posted by j-mac View Post
    Now come on, we are young, but we weren't born yesterday. We all know how progressives work, using baby steps to achieve their goals....This to me is not what I think most people want.
    inorite?
    Increasing access to Treasury Inflation-Protected Securities (TIPS) and I Savings Bonds is the first step to us all becoming socialist Islamo-Atheists at gun point.
    I may be wrong.

  7. #27
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 03:28 PM
    Gender
    Lean
    Conservative
    Posts
    30,306

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by specklebang View Post
    With interest rates artificially low and "real world inflation" extremely high and a Federal Reserve trying to destroy the dollar enough to make paying debts easier for them, this isn't a very good idea.

    I agree, but this is a recommendation to the President from Biden none the less.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  8. #28
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by j-mac View Post
    Could you explain the following parts for me?
    Sounds like "We are going to force every retirement plan to buy huge chunks of US bonds because China ain't going to do it forever."

  9. #29
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 03:28 PM
    Gender
    Lean
    Conservative
    Posts
    30,306

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by Simon W. Moon View Post
    Would it help?


    Promoting availability of financial products sounds the same as stealing someone's 401k to you.
    That's...well...not sure what to say. If the actual words themselves don't convince you, I doubt that even more words would have much impact.

    Do you remember sentence diagramming?

    inorite?
    Increasing access to Treasury Inflation-Protected Securities (TIPS) and I Savings Bonds is the first step to us all becoming socialist Islamo-Atheists at gun point.

    Oh, I see, so you are supposed to post something and not have to bother with input when snarky, childish crap is easier....Why'd you post it then if you didn't want to talk about it?

    Good grief.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #30
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 03:28 PM
    Gender
    Lean
    Conservative
    Posts
    30,306

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by Fisher View Post
    Sounds like "We are going to force every retirement plan to buy huge chunks of US bonds because China ain't going to do it forever."

    That's what I read as well. But according to Simon we have a problem sentence diagraming.....So....
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 3 of 13 FirstFirst 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •