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Law to be passed to force Califronian's to be enroll in pensions, state profits
2013 Jul 25, 7:30am 8,130 views 37 comments
by puhim follow (0)
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Oh and by the way the next round of borrowing by the government is going to cost an extra $1 Trillion for every 0.25% above the rate from 2011.
Government debt payments might exceed 10% of the budget
This will create a whole new round of AUSTERITY!
While interest rates are currently at historically low levels, largely as a result of the Federal Reserve printing money and buying much of the debt, in 2011, these interest payments claimed $230 billion, or about 6 percent of the budget.
AverageBear
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2013 Aug 1, 9:06am
No problem with that. You saw, however, the fellow that is predicting dow 5000. Burnham is his name I think.
Meh... For every prediction for Dow hitting 5000, there's another one for 20000. The companies I invest in, are free cash flow machines. They generate revenue during recessions, depressions, world wars, oil embargoes and crisis', flash crashes, and the occasional impeachment. Stock prices will rise and fall, but my dividend checks will get bigger, and still get delivered to my mailbox like clockwork...
Bubbabeefcake
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2013 Aug 1, 9:19am
...and if you don't live long enough to collect benefits who gets the money ?
smaulgld
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2013 Aug 1, 9:28am
Yeah and they will end up doing it on a national scale when they realize social security is broke, the treasury is broke and no one will buy US treasuries unless its mandatory
smaulgld
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2013 Aug 1, 9:42am
"Confiscating wealth would mean that the government gets the money. I don't see that happening"
If a thief steals money and gives it to his friends and doesn't keep any of it, is it still theft?
smaulgld
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2013 Aug 1, 9:43am
"...and if you don't live long enough to collect benefits who gets the money ?"
back to Ceasar I would guess
zzyzzx
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2013 Aug 1, 11:51pm
.and if you don't live long enough to collect benefits who gets the money ?
Your designated beneficiary, just like on a 401K, I would think.
FortWayne
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2013 Aug 12, 5:04am
.and if you don't live long enough to collect benefits who gets the money ?
Your designated beneficiary, just like on a 401K, I would think.
Same with army veteran benefits. Spouse gets them.
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The confiscation of wealth begins in California
Law to be passed to force Califronian's to be enroll in pension plans that deduct 3%.
I am sure the state will kindly manage your 3%
Goodluck ever seeing it.
What if you leave the state, good luck getting it!
California thieves from workers!
http://www.reuters.com/article/2013/07/22/us-san-jose-pensions-trial-idUSBRE96L11720130722
http://www.theatlantic.com/business/archive/2013/05/california-vs-the-retirement-tsunami/275790/
"The new system would deduct an automatic 3 percent contribution from the paychecks of eligible employees, unless they chose to opt out. Workers with unconventional employment arrangements--like housecleaners--could opt in. And businesses with more than five employees that fail to allow payroll deduction would pay a penalty of $500 per eligible employee"