obama wants to discorage retirement savings accounts

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04-24-2013, 11:46 AM

#21

Braineack

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Quote:

Originally Posted by Fathom55

Ok I know what you mean with the government insolvency. It is theoretically impossible for a government that controls the supply of its currency to run out of that currency. Hence the reduction in the credit rating of US debt was not so much a statement of increased risk of default, but rather a warning of the recently increased risk of value destruction.

The same holds true for the social security system. There is little risk that the raw number of dollars won't be there. But the raw value that should be there....that's a very different analysis.

Sorry for the tremendously delayed response.

sure, but doesn't this bother/worry you?

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04-24-2013, 11:50 AM

#22

Ryan_G

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You know how we could move eliminate that problem Brain?

Just remove the tax cap of $113k without removing the benefits cap. Then we can have another welfare program designed to redistribute wealth!

04-24-2013, 12:12 PM

#23

Fathom55

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Brain,
Of course it does. Social Security is destined to fail and has been in long throws of death for quite some time. I would strongly suggest that anyone planning for their future eliminate any Social Security income from their retirement budget.

I don't know much about Australia's private retirement system. Can you provide some info? Superannuation needs to be used carefully in data...