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Hillary Clinton and Retirement Savings

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  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    David Sirota has an article over at IBT that's from the 'you've got to be shitting me file.'

    "Hillary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration"

    This is one of the most rapaciously idiotic ideas I've ever heard.

    Instead of increasing Social Security benefits or cutting payroll taxes, financial industry allies of Hillary Clinton are eyeing a 3% payroll tax hike to fund mandated private retirement accounts ran by presumably government approved fund managers.

    Instead of privatizing Social Security, it would create a complementary mandated privately-ran retirement program.

    The problem is that people don't save and invest enough, so we must force them to, not that they don't have enough incomes to save and invest in the first place?

    This is horrible economics. It won't create any new dollars in the economy for returns and added savings. Some will win and some will lose in relative comparison, but no new returns will be added to the economy. In fact, it may invariably contribute further to inequality, while lowering incomes and savings, increasing the need for larger government budget deficits.

    I say cut the payroll tax and let people do what they will with their increased after-tax incomes. They may choose to spend, save, or invest more. If they want to send their money to Blackstone, that's their business (so long as crimes aren't being committed). At the same time, I would add to Social Security and Medicare benefits.

    It is completely obvious what these fund managers are trying to do. They want to create a heavy stream of fees and incomes for themselves. That's it. Some of them may also think they are helping regular people in the process. That's what makes them really dangerous.

    In any event, if this shit comes down from the top of the Hillary administration, I will take my ball and go work with the f---ing Republicans, if necessary, to defeat it.

  • Liberal
    Independent
    Durham, NH
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    You may not have to worry about it after Tuesday! The way the Dems have handled this whole election only makes Tump stronger.

    We can always be assured that the Dems will snack defeat from what should be guaranteed victory. Obama was nothing more than an eight year bump in the road for them and in less than one week they will have repaired their highway to hell.

    Be afraid, very afraid;(

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Promoting saving reinforces conservative ideals.
  • Independent
    Ft.myers, FL
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    pr Wrote:

    You may not have to worry about it after Tuesday! The way the Dems have handled this whole election only makes Tump stronger.

    We can always be assured that the Dems will snack defeat from what should be guaranteed victory. Obama was nothing more than an eight year bump in the road for them and in less than one week they will have repaired their highway to hell.

    Be afraid, very afraid;(

    Yes P.R. I've said way before this that we are going downhill; any "plan" right now is hopefully only an plan and will never materialize. Yes I'm afraid as well, that this is the end of the way we know America.