War on the elderly

With zero interest paid on their savings and now a threatened 43% tax on dividends, one wonders how Obama thinks those who have retired or are nearing retirement are supposed to get on? Hell, they can’t even go back to work: there are no jobs. Hope and change indeed.

21 Comments

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21 responses to “War on the elderly

  1. Walt

    Dude –
    No one cares about old people. They smell funny and poop their pants. That is why we send them all to Florida.
    Barry could care less about the elderly. He figures even with the increased taxes, they can still afford a can of Purina, can’t they?
    The answer is to get them in front of an Obamacare death panel as soon as possible. They already got their fair share, and we need to give it to someone else. Someone who never worked and never contributed.
    Sounds like a plan, right? Hope and Change!! Gotta love it!!
    Your Pal,
    Walt

  2. Walt

    Dude –
    My uncanny sixth sense tells me this is not a great idea, and this guy is going to end up like a pancake:
    http://www.redbullstratos.com/live/
    Hope I am wrong. And who names a kid “Felix”? What is that all about? They should make his parents jump.
    Your Pal,
    Walt

  3. dogwalker

    What are Romney and Ryan offering the elderly that is better? Privatize Social Security and Medicare? Slash Medicaid?

  4. Anonymous

    those are the folks that don’t want to better themselves. the so called %47.

    why don’t they go flip burgers or pump gas ??

    baby boomer generation sucks. sorry CF

  5. Anonymous

    Slightly off topic, but is it only me who finds it unseemly (perhaps unconstitutional) that a sitting president gets to take several days off from work to practice for a debate? Should his campaign coffers pay back the government for the time lost? Which begs the question, what does he do all day long anyway?

    • It’s not as though he’s doing the country any good when he does stay behind his desk so I say, he wants to golf and hang out in Vegas for the rest of his term, we should encourage him.

  6. Libertarian Advocate

    Anonymous: Truth is the power of the president is such that he/she/it could pretty much take the entire four years of the term off by going on vacation to Fiji on our dimes and there would be NOTHING at all we could do about it without a congress (House & Senate) willing to remove the offender from office through impeachment and trial. With Harry Dweeb running the senate, were I you, I wouldn’t hold my breath for any impeachment of Obama in this term.

  7. db

    Considering the small number (that aren’t his base) this will affect, not seeing him caring:

    http://wiki.answers.com/Q/What_percentage_of_Americans_own_stock

    “Because there are many ways to “own” stock, this question can have many answers. For example, if you own a mutual fund in your company’s retirement plan, you can be said to be the “owner” of the stocks that are in the mutual fund. That’s in spite of the fact that you probably don’t know what they are, and you have no voting control in either the stocks themselves or the mutual fund. The most commonly offered answer to this question uses this broad, and, arguably meaningless definition.

    The Mutual Fund Industry group – Investment Company Institute – has a lot of data on this subject. Its 2002 study, http://www.ici.org/pdf/rpt_02_equity_owners.pdf showed that 49.5% (or 52.7 million) of US Households owned equities in some way shape or form in 2002. However, only 21 million (less than 20%) owned individual stocks outside an employee sponsored plan. “

  8. dogwalker and 3DB haven’t been paying attention. Privatize socialist security – but only for the cohort presently below 55. The present stock of seniors get to sponge until they drop. As it is, it’s going broke anyway: Ponzi schemes ALWAYS do. (dogwalker and 3DB would know that, too – if the public schools hadn’t screwed us all out of a decent education in economics.)

    dogwalker and 3DB also haven’t paid attention to other nations that made privatization an option decades ago. Their systems are still solvent. Funny, that.

    It isn’t about 100% “privatization” nor for all people – it’s about putting the option on the table for those with the discipline and adult habit of wishing to take care of themselves. For dullards, perpetual children and morons, the “public option” will remain on the table.

  9. Walt

    Dude –
    I hope you had a more productive day than me. You loser.

    I wasted hours watching a dude named Felix jump out of a balloon from space, waiting for him to be splattered on some New Mexico taco stand. But that didn’t happen. Yes, I was disappointed.

    So then, after taking my daily dump, I decided to watch the Yankees. And they lost to the Detroit Frigging Tigers!! Those from the unionized, Democratic SLUM LORD state!! Even Francis can’t defend that abortion. Although maybe he can?

    But the Giants won, and the Red Sox are toast.

    So all is good.

    Right? You vermin. Hope you had a nice day!!
    Your Pal,
    Walt

  10. Brown Eyed Girl

    Sane people know that “privatization” is about handing a multi-bilion dollar payoff to the financial services industries, who will take commissions & management fees & service fees, create a secondary market, re-sell tranches or whatever they are called, enriching themselves regardless of their performance. Only dullards want to pay for someone else’s McMansion.

  11. Brown Eyed Girl…
    …has never read a decent book on basic economics. True, there are incompetent management firms and incompetent investors… but that is not all of them, is it? Thank G-d, but the industry does have this thing for rewarding competence.

    The unsettling and sorry fact is, there has NEVER, ever been a Government agency that could compete in matters financial. It is functionally and morally impossible. Otherwise, why is it that the “Social Security Administration” is damned near bankrupt, already facing crippling debt, having accepted Government paper in lieu of real valued instruments for many generations. S.S. was always and remains to this day only a *tax* of the most dishonest sort. All it owns is debt notes… which are being dissolved in value by the Fed & Treasury under QE1, QE2 and now (the misnamed) QE3.

    Alas, it is difficult for “liberals” to grasp the concept that the only thing that has ever pulled people out of poverty is… (drum roll) the creation of wealth. They simply can’t understand why it is that wealth is NOT a zero sum game. Redistribution programs – such as “Social” Security – have only ever managed to deplete wealth – and yet they cling and grasp like drowning twits to the ring tossed by the life-guard in the deep end. It would be comical if it weren’t so damnably depressing.

    Only dullards want to pay for someone else’s…” failed “social” engineering experiments.

  12. Westchesterer

    Bernanke is commander-in-chief of the War on the Elderly.

  13. hmmm

    Bad profits bad bad profits…..

    How do you get paid beg in monopoly money or are you a civil servant and are part of a cost center?

    Oh and I think you nailed it… The only reason for privatization is crony capitalism not because the programs are INSOLVENT

  14. Chief Scrotum

    Yos is right – let the market decide. Lets put interest rates back to 5%, and see how the banks do. Oh right, free market only works when big companies define it. Lets see how Bain et al do in this matter – http://www.nakedcapitalism.com/2012/10/why-is-a-price-fixingcollusion-lawsuit-against-the-biggest-names-in-private-equity-getting-only-cursory-notice.html

  15. db

    Yos / Si Vis Pacem, the government could sell “Government paper” to China or to the SS Fund. Of the two choices, I vote SS. The paper is repaid in preferred interest, very similar to corporate bonds. If the paper the SS received is worthless, we have a lot more to worry about than SS.

    “NEVER, ever been a Government agency that could compete in matters financial.”

    Personally, I believe Medicare does compete successfully with the wonderful private institutions that provide (fleece people) insurance.

    Any time the see-saw related to the amount of government regulation and big business swings too far in one direction, bad things happen. Unlike many of the blog owners loyal readers, I believe it is pretty neutral these days or at least a lot better off than the 4 years before the current administration.

    No matter what, the debt will continue to increase after the election. Anyone thinking it will not needs to look at the Republican parties history when it comes to debt reduction

  16. Brown Eyed Girl

    Oh all right, now that you’ve shown me the error of my ways, I’ve decided to become a social darwinist like you. THank you for showing me the path.

    • It’s not enough to claim compassion for the poor, you must act on that compassion. Consigning these people to a bankrupt system may make you feel good (“but my intentions are good) but does no good for the objects of your claimed concern. Hand-wringing liberal doogoodism is what caused this mess to begin with.
      I’m glad you see that now.

  17. Don't forget to SELL

    SS pays 7% a year to leave your money in the kitty. Banks pay ,5% to leave your money in a CD for 1 year. Hedge funds pay 10-20-30—% to risk your money on their platforms.

  18. …as if “socialism” was ever anything BUT another form of social darwinism. SORRY. Point to ONE socialist program that has not achieved the exact opposite of it’s stated intent; even ONE that has not made the Party or aparatchiks the favored clique. Spare us the pretense of “fairness.”

    Compassion for the poor is a singularly personal responsibility: it is NOT something one can fob-off onto a Government bureaucracy with some “rich” person’s money.

    Mocking “darwinism” does not relieve you of your personal duty. Moral value comes only from what you give of yourself – NOT from what you can take forcibly from others. Spare us your socialist faux mortality – we’re all out of Gravol.