We will never never see things go right in Washington until the current crew is voted out. This has been the ultimate wake up call to our fellow citizens to never have these liberal types in there again. Not that the republicans are better. They know the way people want government out of our way and pocket.
Interesting discussion. I personally would like to see all workers have access to the TSP plan. It is probably the best designed plan in the nation. I have to say I was surprised to see Dallas Salisbury so positive on 401 (k)s. A lot of them are ripping people off with their high fees and poor choices.I also have a problem with anything mandatory from the government.Just as a counterfactual exercise I would like to see people's beliefs on what it would be like today if there had never been Social Security.
The proposals I've seen for the "public option" 401k almost exclusively consist of a social security type of fund that earns a low rate of fixed interest (3%) with no option to invest in "risky" assets like stocks and bonds. Of course this will be just another slush fund, like social security, that politicians will use to fund even higher spending and leave investors nothing but IOUs. If I could have invested my Social Security contributions and the match by my employers in a balanced fund of 60/40 or 50/50 stocks/bonds, I'd be a rich man instead of just moderately well-off.
We will never never see things go right in Washington until the current crew is voted out. This has been the ultimate wake up call to our fellow citizens to never have these liberal types in there again. Not that the republicans are better. They know the way people want government out of our way and pocket.
ReplyDeleteInteresting discussion. I personally would like to see all workers have access to the TSP plan. It is probably the best designed plan in the nation. I have to say I was surprised to see Dallas Salisbury so positive on 401 (k)s. A lot of them are ripping people off with their high fees and poor choices.
ReplyDeleteI also have a problem with anything mandatory from the government.
Just as a counterfactual exercise I would like to see people's beliefs on what it would be like today if there had never been Social Security.
The proposals I've seen for the "public option" 401k almost exclusively consist of a social security type of fund that earns a low rate of fixed interest (3%) with no option to invest in "risky" assets like stocks and bonds. Of course this will be just another slush fund, like social security, that politicians will use to fund even higher spending and leave investors nothing but IOUs.
ReplyDeleteIf I could have invested my Social Security contributions and the match by my employers in a balanced fund of 60/40 or 50/50 stocks/bonds, I'd be a rich man instead of just moderately well-off.