Would Dem's upend the tax preferences of retirement accounts like 401(k) ?

Discussion in 'Political Discussions' started by Lerner, Oct 18, 2020.

  1. Lerner

    Lerner Well-Known Member

  2. Johann

    Johann Well-Known Member

    Looks to me like Biden's people have realized that rightly-or-wrongly, they have to make some hard choices about the type of tax savings the Government can offer. These hard choices are dictated by the looming shadow of the huge National Debt. As I said previously in another thread, NO nation - including the US - can charge everything to its credit card forever. Yes, they can "choose" to do so - but the Nation cannot escape the consequences of such a choice. Yes again - they can do gymnastics like "quantitative easing" etc. that individuals cannot - but this does not mean the nation is wealthy - or make it so. The printing press is not a wealth machine.

    The US is NOT a super-rich economic utopia, as another DI member believes, that does not "choose" to offer all kinds of universal benefits to everyone, as he recently posted. The money is just flat not there - and interest on borrowing is currently costing America nearly a billion dollars a day.

    The US does not have as many choices, as that long-time senior DI member believes. Super-rich individuals do NOT make it a "wealthy" country. There is no vaccine against the effects of over-reliance on credit. For individuals, companies - even Amazon, which doesn't have to worry since they're now extremely profitable - and governments.

    The US is FAR from wealthy enough to freely "choose" what benefits and advances it will buy its people. The US cannot do this any more than I can order a bunch of goodies from Jeff Bezos and then "choose" which ones I want to pay for. Hey, Jeff! I want those two pickups for my Telecaster. Here's my credit card. Send 'em quick, please!
    Last edited: Oct 18, 2020
  3. Rich Douglas

    Rich Douglas Well-Known Member

    Don't be rude. I didn't say that. I said the US was wealthy. It is. You might not like its distribution of wealth--I certainly don't. But that's not what I said.
  4. Steve Levicoff

    Steve Levicoff Well-Known Member

    As Bugs Bunny so wisely said, "What a mar-roon!"
  5. Johann

    Johann Well-Known Member

    I believe you said and/or implied, Rich, that the US was wealthy enough to give its citizens all utopian things you listed, such as guaranteed income, free health care etc. but does not choose to do so. If my summation of that seems rude to you - so be it. I don't think it was and consequently I'm not apologizing.

    This argument seems useless to pursue further. I've made my comment and I'll leave it there. Meanwhile, the clock is ticking... a billion dollars a day in interest. Looks like MAPA to me - Make America Poor Again.
    Last edited: Oct 18, 2020
  6. Rich Douglas

    Rich Douglas Well-Known Member

    I wish you wouldn't get personal in your comments. I don't believe I've ever said a single thing about you, but you do it to me all the time. I'm sick of it.
  7. Rich Douglas

    Rich Douglas Well-Known Member

    I didn't ask for an apology. But I am asking you not to make it personal.
  8. Johann

    Johann Well-Known Member

    I won't make it anything.
  9. Rich Douglas

    Rich Douglas Well-Known Member

    You do it all the time. You like to comment about others' motives and perceived biases when you don't agree with what they posted. You do it to me a lot, and I think it is rude.

    You've posted here for years and I don't think I've ever said one thing about you. (Mostly because I can't possibly know you from this board.) It's like that bust-up about the cost of degree programs and my opinion about it. You couldn't limit yourself to just disagreeing, you instead resorted to calling me out as an elitist. It was pretty shallow (and utterly not true).

    I don't care if someone disagrees with something I've posted, but I do care when they make it personal, which you do a lot.

    If I may be so bold, I'm going to borrow a phrase you employ and say that's all I have to say about it. I like that.

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