Feds eye your 401k.

#26
#26
only LG could claim a program that costs $2 trillion to insure 10mil people could increase personal responsibility
 
#28
#28
T-TownVol said:
total horse shat....there is no way that an educated person can believe that ANYTHING the government runs will reduce costs for ANYONE (except the free loaders of course).......the CBO has already doubled the original cost estimates and the plan is not even in effect......the reason that private insurance costs keep climbing is because of government mandates......if you believe that the government can run ANYTHING better than private then you are an idiot sir
Click to expand...



Newsflash: Medicare.
 
  • Like
Reactions: 1 person
#29
#29
lawgator1 said:
Newsflash: Medicare.
Click to expand...

such the model of government efficiency....want to try again
(I excluded the free loaders by the way)

great example big guy.....not a single senior has to go out and purchase extra private insurance to cover their actual medical needs.....brilliant example
 
Last edited:
#30
#30
T-TownVol said:
such the model of government efficiency....want to try again
(I excluded the free loaders by the way)

great example big guy.....not a single senior has to go out and purchase extra private insurance to cover their actual medical needs.....brilliant example
Click to expand...


Medicare administrative costs are 2 %.

Private insurance administrative costs? 17 %.

(Source: Kaiser Family Foundation).



Between 1997 and 2009, Medicare expense grew by 4.3 % per year.

For the same period, and for the same benefits, private insurance expense went up 6.5 % per year.

(Source: Center for Medicare and Medicaid Services).




In other words, Medicare is MUCH more efficient than private insurance in administering health care plans, and in fact the gap between them is widening.
 
  • Like
Reactions: 1 person
#31
#31
does medicare operate under the same fed limitations as private insurance?
 
#32
#32
lawgator1 said:
Medicare administrative costs are 2 %.

Private insurance administrative costs? 17 %.

(Source: Kaiser Family Foundation).



Between 1997 and 2009, Medicare expense grew by 4.3 % per year.

For the same period, and for the same benefits, private insurance expense went up 6.5 % per year.

(Source: Center for Medicare and Medicaid Services).




In other words, Medicare is MUCH more efficient than private insurance in administering health care plans, and in fact the gap between them is widening.
Click to expand...

hummmmm....a government fluff peice on government run health care....who woulda thunk'it......one would think that a ruling on this was before the SCOTUS or something

according to the Kaiser Family Foundation web site that you quote, 67% of seniors pay their own insurance and expend over 15% of their total expendatures on private health care, if the medicare system is so good, why is this the case? AND...please tell me that you are not quoting a government report to support your claim that this government agency is more efficient than the private insurance industry......it is easy to have a low administration costs when you are government funded and your base line for measuring costs goes up every year as the budget increases and you are not forced to comply with crippling red tape.......the medicare program is spending an unsustainable amount of money and if it were not for private insurance, that most seniors pick up so that they can get the treatments they actually need, the costs would be even greater.......

Medicare is projected to be broke by 2024, a full five years sooner than last years projection. Does this sound like an efficient program. Mecicare will spend well into the trillions per year by 2040 at the current deficit pace it is running.......oh ya, deficit spending is what keeps the free loaders voting Dem

Chart of the Week: Medicare Spending Is the Largest Driver of Future Deficits
Rob Bluey
December 26, 2011 at 11:18 am
(8)


Medicare is in dire need of reform. This week’s chart illustrates why the entitlement program is the largest driver of long-term runaway deficits. With the country’s population aging and increasingly dependent on health care, Medicare’s cost to taxpayers is projected to rise from $522.8 billion in 2010 to $932 billion in 2020.

The Heritage Foundation has long championed reforms for Medicare, most recently as part of Saving the American Dream. Heritage’s Bob Moffit recently outlined a two-stage approach to reform. The first step is saving the current program, then moving to premium support for Medicare, which is a variant of the defined-contribution system.

The issue is also getting more attention on Capitol Hill. Just this month Rep. Paul Ryan (R-WI) and Sen. Ron Wyden (D-OR) introduced a bipartisan framework for structural Medicare reform. Their plan “would establish a premium-support system of financing for Medicare,” wrote Moffit and Rea Hederman on The Foundry. “This policy is central to the transformation of Medicare into a consumer-based system relying on competition rather than bureaucratic fiat.”

Ryan, of course, already tried to transform Medicare earlier this year as part of his budget proposal. It created such an uproar among Democrats that their assertions were dubbed the “Lie of the Year” by Politifact and one of the “biggest Pinocchios of 2011” by fact checker Glenn Kessler of the Washington Post.

There isn’t anything false or misleading about Heritage’s chart. The numbers come directly from the Congressional Budget Office. And unless something is done, Medicare will be the biggest driver of future deficits.
 
#33
#33
I need an explanation, guys. :whistling:

Another proposal being discussed in Congress says all tax deductions on 401(k)s and IRAs to be replaced with an 18 percent credit. The credit, according to a proposal that has been endorsed by economist William Gale, would be placed directly in a person’s retirement account.

“Unlike the current system,” Gale told Congress, “workers’ and firms’ contributions to employer-based 401(k) accounts would no longer be excluded from income and would be subject to taxation, contributions to IRAs would no longer be tax-deductible and any contributions to a 401(k) plan would be treated as taxable income.”

In other words, the employee and employer would no longer get a deduction under the Gale plan, they would qualify for a credit. And the credit would “increase [government] revenues by about $458 billion,” Gale says.
Click to expand...
 
#35
#35
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people.

Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.

Obama Begins Push for New National Retirement System

:whistling:
 
#36
#36
Saw that. Waiting for someone other than the National Seniors Council to make comment on it. To me, it sounds ridiculously hard to believe that any public official would suggest this.
 
#37
#37
myrobbins7 said:
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people.

Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.

Obama Begins Push for New National Retirement System

:whistling:
Click to expand...

Well, since he did such a great job with health care....

Fascist states of America here we come. :sick:
 
#40
#40
Wait, don't we have a national pension plan already? Isn't it as egalitarian as they come?
 
#41
#41
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

“That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention - Bloomberg

“Help Manage” Of course....
 
#44
#44
WTF?

The bureau could claim jurisdiction through its Office for Older Americans, which was established by Dodd-Frank with a mandate to improve financial literacy.
Click to expand...

We're from the government and we're here to help...

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams
Click to expand...
 
  • Like
Reactions: 1 person
#46
#46
volinbham said:
WTF?



We're from the government and we're here to help...
Click to expand...

Crazy isn't it... This has been in the works for years. It’s just now that a government agency is talking about using it’s power to initiate the takeover of retirement accounts, It will happen. They just need to “justify” it.
 
#47
#47
the same government that continues to prop up Social Security is now concerned about senior citizens falling prey to financial scams

lots of irony afoot today
 
  • Like
Reactions: 2 people
#48
#48
Anybody that voted one of the two main parties this election shouldn't be surprised. The Paul/Johnson types are the only ones that really care about true liberty. we just need to find one that isn't batsh-- crazy to run.
 
#50
#50
Obama's tax agenda - Apr. 8, 2013

Impose new limit on tax-deferred retirement accounts: Among his new tax measures, Obama will propose setting a $3 million limit on an individual's savings balance across IRAs and other tax-preferred retirement accounts.

A $3 million balance could finance an annuity of $205,000 per year in retirement, according to senior administration officials, who added that the proposal could raise an estimated $9 billion over a decade.

It's unclear how the proposal would be implemented. For instance, what would happen if a balance exceeds $3 million for a short while, but then falls below $3 million?

But in theory, "the logic of such a proposal makes sense: We want to encourage people to save for retirement but that should not be open-ended. Rich folks don't need government subsidies to encourage and enable them to save for retirement," said Roberton Williams of the Tax Policy Center.
Click to expand...

Obama

Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from accumulating more than $3 million in an individual retirement account. That proposal would generate $9 billion in revenue for the Treasury over the next decade, according to a White House statement released today.
Click to expand...
 
New posts
You must log in or register to reply here.

VN Store



Back
Top