Paying It Forward

The ASSWHOLES on the never-right wing keep telling young people that Social Security won't be there for them when they retire. It certainly won't as long as they keep voting for FUCKINGREPUBLICAN'TS!! They've been trying to kill Social Security since day one.

Instead we should be telling young people they are paying it forward. They are paying into the SS fund while retirees are drawing money out. The retirees paid in all their working lives to fund older people's retirement and now are getting a return on the money they paid in while working. As long as we don't allow Social Security to be privatized, it will survive. If we allow Wall Street to get their hands on SS money we can kiss it goodbye!!

One of the true contradictions in this debate is on one hand the Reich-WingNuts complain they could get a better return on their money by investing it and on the other hand they complain that people on Social Security are getting back far more than they paid in!!!! (Which is it, are they getting fucked on their investment or are they getting too good of a return???) I'm sure you could find lucrative investments if you have millions to invest. But if you only have a few bucks to invest the interest you might accrue will be eaten up by the fees charged by whatever outfit handles your investment. I know this is a fact from the several 401ks and IRAs I've had where at the end of the year there was less money in the account than was paid in during the year. With savings account interest at less than 1%, you can't save much on your own. Compound interest won't help at all, my high school math tells me when you multiply fractions (less than 1) you get a smaller sum!!

Like I said we need to tell young people that they are paying it forward!!

Management Fees

Why is it that this commercial reminds me of the company sponsored IRAs and 401Ks that I had?? When I did work for a company that offered an IRA or 401K plan, the management fees by the broker (that word alone should explain it, they make you broker) would be more than the interest that my and my employer's contribution earned. Because I didn't work that long at these jobs (migrant aircraft mechanic) my funds (had an IRA and a 401K at different times) never built up to the point where the earnings were more than the management fees. Also I would keep track of how my fund was doing by looking at how the fund was doing by checking that mutual fund listings in paper in the business section. Even when the report from Wall Street said my fund was going up, when I got my earnings statement, more often than not, it was negative. The newspaper said it was going up while my statement said it was going down and on top of that I had to pay for them to lose money for me. Fuck, I could have done that by myself!!