75 America Colleges Offer Black Only Graduation

[togor]

Interesting story about the generational payoffs of intervention with the poor. Something that actually works Alas for Vernon he won't take notice it. Wouldn't change a thing anyways because his mind is closed for business.

https://www.npr.org/2019/05/23/726035330/since-the-1960s-researchers-track-perry-preschool-project-participants

[Clark Howard]

Do we need to add another name to the Stooges list????

[Roadkingtrax]

Do we need to add another name to the Stooges list????

You've been added at your own request.

[lyman]

What's that got to do with the price of tea in China.

re the last part,,, 'if elected'

And I pointed out that "some folks" is meaningless with so many others ae trapped in poverty.

beating that dead horse again by saying it was what I had observed locally,

if I had to guess a percentage, probably a good bit less than 1%,, also known as a drop in a bucket,, but at least a few made it out,,

Quite extensive. For example, I would have raised the FICA tax and put the surplus into Personal Retirement Accounts, similar to 401ks. In a generation or so, everyone who worked would retire self-funded and many would be actually wealthy.

I pushed true Medical Savings accounts.

I advocated the Three Paper Solution for improving education.

did you get a lot of push back on the FICA tax increases ?

- - - Updated - - -

Do we need to add another name to the Stooges list????

and who would that be?

[Vern Humphrey]

re the last part,,, 'if elected'

How does participating in the political process make one a "government man" (whatever that is)? Does voting make you a "government man?"

beating that dead horse again by saying it was what I had observed locally,

Beating that dead horse again by saying anecdotes are no guide to performance.

did you get a lot of push back on the FICA tax increases ?

No, because the increase would go back to the worker in the form of a Personal Retirement Account.

[Sandpebble]

No, because the increase would go back to the worker in the form of a Personal Retirement Account.

Well Vern, the only problem I see in your "plan" is that the value of peoples retirements could be manipulated up ... or lost completely on nothing more than a Tweet .

I remember GW proposing military pensions becoming privatised ..... immediately there were some very smart people figuring out how to snag that cash.

It's musical chairs.... and the music always stops

[togor]

No, because the increase would go back to the worker in the form of a Personal Retirement Account.

Well Vern, the only problem I see in your "plan" is that the value of peoples retirements could be manipulated up ... or lost completely on nothing more than a Tweet .

I remember GW proposing military pensions becoming privatised ..... immediately there were some very smart people figuring out how to snag that cash.

It's musical chairs.... and the music always stops

Exactly. As soon as the government has big pots of cash to invest, the grifters come to siphon it away. Vernon can claim his big plan is inviolate because no one was naive enough to try it.

[lyman]

How does participating in the political process make one a "government man" (whatever that is)? Does voting make you a "government man?"



Beating that dead horse again by saying anecdotes are no guide to performance.



No, because the increase would go back to the worker in the form of a Personal Retirement Account.

Gov't as in did you work for in some form before running for congress, as in some other office,,,,,

but I looked you up that would be considered a maybe,,

beating dead horse cause if you read what I posted, and comprehended it, you may get that I was speaking of people that I had met, worked with , managed, etc (I worked in the retail gro biz as a store manager,, had lots of employees)
not talking about the national avg,,


and surprised about no push back,

I have to agree with togor and sandpebble, I recall when that idea was floated, and did not care for it,
personally I would rather do as I did on my 401K contributions, as in manage them with the help of an established broker (company mandated, but I had control over the investment options)
not let big brother do as they do,,, which usually is not best $$ wise

[Vern Humphrey]

Gov't as in did you work for in some form before running for congress, as in some other office,,,,,

I was a soldier, a profession that is accountable, and I have the bullet holes to prove it.

I have to agree with togor and sandpebble, I recall when that idea was floated, and did not care for it,
personally I would rather do as I did on my 401K contributions, as in manage them with the help of an established broker (company mandated, but I had control over the investment options)
not let big brother do as they do,,, which usually is not best $$ wise

This approach would essentially be a 401k.

The PRA would belong to you -- not to the government, and you would have sole control over it.

You would be guaranteed your Social Security, but the first dollars would come from your PRA. Annuity calculations would be run, and the FIRST dollars in your Social Security would come from your PRA.

This would result in the government paying less dollars to you (your Social Security payment less the annuity from your PRA) and putting MORE dollars into the PRAs of those following you. Ultimately, Social Security would disappear, with all retirees covered by their PRAs.

[togor]

So Vernon would have mandatory withholding for a good social purpose like retirement. But it's not a tax! And it's OK to make young people have to do it because it's good for them and the country both. And of course young people are experts when it comes to investment. What young guy wouldn't rather spend his time reading prospectuses instead of looking for women and having a good time with his buddies, right?

Unlike ACA, where requiring young (and healthy) people to participate in the health insurance markets is a bad and evil big government mandate. Sorry, calling BS on it whether he reads this or not.

I mean, complications abound. It's my money, so I can borrow against it, right? What happens if I can't repay? Is the government going to effectively penalize me for my negative outcome? What if some gov't approved investment option (since the government is running this, they act as the clearing house), turns out to be a Ponzi scheme? Government gonna make me whole? What if my job doesn't pay well, and the extra investment amount is the difference between rent and eating cat food/people food this month? Hit the local food shelter? If the government rolls this plan out, doesn't that compete with Fidelity and Vanguard and Wells Fargo, etc., for retirement funds? What's the sense of that.

Vernon's scheme is 100% certified unworkable, everywhere except in his mind where it is no doubt Solid Gold.

[Sandpebble]

but our PRAs could dissapear with just a mere Tweet Vern... just a mere Tweet . Working guy has a choice of two protections ... a sympathetic government... or Wall St..... tough choice , right?

[lyman]

This approach would essentially be a 401k.

The PRA would belong to you -- not to the government, and you would have sole control over it.

You would be guaranteed your Social Security, but the first dollars would come from your PRA. Annuity calculations would be run, and the FIRST dollars in your Social Security would come from your PRA.

This would result in the government paying less dollars to you (your Social Security payment less the annuity from your PRA) and putting MORE dollars into the PRAs of those following you. Ultimately, Social Security would disappear, with all retirees covered by their PRAs.

lets be clear, I never doubted your service, (or work afterwards)


re the rest,

having a Father that was in the Reserves, and a full time civilian employee of the AR, and a Mother who worked for the feds as well, I got to meet a lot of .gov folks,
and hear the stories of Gov't waste, esp in the supply systems, regarding budgets etc etc,

just that alone had me worried about .gov controlling my retirement any more than it does now,

think about it, in my lifetime alone (I'm 55) social security has been ending any minute now unless xyz happens more times that I can remember,

not to mention the bumping up of retirement ages over the years,


of course a lot of that has been one side stirring up the media against the other (likely both guilty in that),

[Vern Humphrey]

lets be clear, I never doubted your service, (or work afterwards)


re the rest,

having a Father that was in the Reserves, and a full time civilian employee of the AR, and a Mother who worked for the feds as well, I got to meet a lot of .gov folks,
and hear the stories of Gov't waste, esp in the supply systems, regarding budgets etc etc,

just that alone had me worried about .gov controlling my retirement any more than it does now,

think about it, in my lifetime alone (I'm 55) social security has been ending any minute now unless xyz happens more times that I can remember,

not to mention the bumping up of retirement ages over the years,


of course a lot of that has been one side stirring up the media against the other (likely both guilty in that),

I think I mentioned my experience. After I retired from the Army I worked 10 or 12 years at a job that had a 401k. I put the max in, 15%. At the same time I was putting 15.3% into Social Security (including the "employer's contribution" -- which the employee earns, of course.)

Nowadays I have to take the Annual Minimum Distribution from that 401k -- and it's considerably MORE than both my Social Security AND my wife's Social Security!! Imagine if we had been allowed to keep and invest what Social Security took away from us!!

That's why I push transitioning Social Security from a government-run pyramid scheme to a self-directed investment program and keeping the Government's dirty hands off people's retirement.