Obama creates ‘MyRa’ accounts

reply to post by Flatfish

Oh yeah, I'm already retired. I retired at age 48 on one of those dreaded union pension plans that happens to be fully funded because we didn't allow our employer to "promise" to pay. W

Well then should be fully aware where your union invested that pension at evil Wall Street.

Then of course get's hit with another medicare tax it's capital gains.

www.forbes.com...

I wonder if MYRA will get hit with the same medicare tax.

Anytime a new product via the government is given a catchy nickname "MyRa" and "Obamacare" -- I get suspicious.

Why don't they just fix social security? Why create something new when there is already something in place?

MystikMushroom

Why don't they just fix social security? Why create something new when there is already something in place?

It's what they do. They never go back and fix bad programs or laws. They just start new programs and pass more laws.

There wasnt a state in the nation that didnt have a distracted driving law on the books. That was never enforced apparently so now states are passing no-cell phone laws. That wasnt enforceable so now it's no-texting laws.

Don't actually enforce the first law that was more than adequate or if it isnt don't amend it to be adequate. Just pass more redundant laws that wont ever be enforced.

This is what government does. It's a stupid game played by stupid people that unfortunately affect all the rest of us.

macman
reply to post by LeatherNLace

 

That's your guys basis?

You do know that Bush has been gone for some time now.

Hasn't this admin gone after more whistleblowers then any other admin?
Hasn't this admin been rated, by news agencies across the board, as the most secretive?
What is the running number now for scandals and such for this admin?


Gotta love it when all you guys have is playing either the Bush's fault or race card.

What are you, a moron? I did not mention Bush, I didn't play a race card and I was directly responding to a comment about executive orders. Your laundry list has nothing to do with my comment. I take it reading comprehension is not your strong suite.

MystikMushroom
Anytime a new product via the government is given a catchy nickname "MyRa" and "Obamacare" -- I get suspicious.

Why don't they just fix social security? Why create something new when there is already something in place?

Im just waiting for the accompanying visual with MyRa. I mean we have Pajama Boy.. wonder what idiotic thing theyll come up with MyRa? No.. I dont wonder. I dont want to even imagine it.
Love him or hate him... Obama needs to FIRE or suicide his marketing experts.

MystikMushroom
Anytime a new product via the government is given a catchy nickname "MyRa" and "Obamacare" -- I get suspicious.

Why don't they just fix social security? Why create something new when there is already something in place?

Maybe I missed something but isn't the MyRA (sounds like a personal Egyptian deity) a voluntary retirement fund that run in tandem to SS? This way they get to steal money automatically via taxes and SS. Then they get people who believe their lies to voluntarily give them even more. What a racket.

Someone needs to make a funny graphic with some Egyptian themed stuff and old retired people. Maybe a bunch of elderly people as Egyptian slaves building a pyramid under the god Ra.

reply to post by LeatherNLace


Oh, you hurt my feelings too.


Yeah, any statement of "well, look what Bush did" falls directly inline with my retort.

Your response was this:

LeatherNLace
reply to post by Flatfish

 

This can not be repeated enough:

Secondly, President Obama has signed less executive orders than many, if not most, of his predecessors regardless of their political affiliation

Using past Presidents as your shield is pretty weak. And lame.

The so called 'poor' people alreadly GET social security.

What Obama and his defenders have done in grand fashion is told the whole country SS doesn't work.

Myra is a condemnation from the party of its creators.

macman
reply to post by LeatherNLace

 

Using past Presidents as your shield is pretty weak. And lame.

Context matters; thus the use of the chart.

I don't think it's weak at all. Not when folks are calling Obama a self declared emperor, dictator, etc. No president before him were slandered in such a way; which seems ridiculous considering that Obama uses the EO less than most of his predecessors.

LeatherNLace

macman
reply to post by LeatherNLace

 

Using past Presidents as your shield is pretty weak. And lame.

Context matters; thus the use of the chart.

I don't think it's weak at all. Not when folks are calling Obama a self declared emperor, dictator, etc. No president before him were slandered in such a way; which seems ridiculous considering that Obama uses the EO less than most of his predecessors.

You must have amnesia. Bush took heat and was called everything but Mr President.. including emperor and dictator. ALL presidents were slandered in such a way when they do stupid and unpopular things. IN this case, its LIBEL and not slander.

LeatherNLace


I don't think it's weak at all.

It is. All it does is attempt to deflect and attack others.

LeatherNLace
Not when folks are calling Obama a self declared emperor, dictator, etc.

Well, when the shoes fit............

LeatherNLace
No president before him were slandered in such a way; which seems ridiculous considering that Obama uses the EO less than most of his predecessors.

You have got to be f'ing kidding me.
Please, go and be honest and review all the crap that was put out on Bush.

You are quickly turning into the most dishonest person here.

Personally, I think this new MYRA could be a good thing for several reasons.

For starters, it's voluntary.

Furthermore;

While I do indeed realize that there are much more aggressive investment tools available that can provide a greater return, for the new investor, (especially someone working at minimum wage) "Safety" is tantamount. The one thing these people cannot afford, is to lose their capital and every experienced investor knows, the greater the return, the greater the risk.

I think this new MYRA will provide a good "first step" for new investors that will provide a slightly better return than ordinary savings accounts. It's also a good way to get them interested and involved in planning for their own retirement.

It just a first step and that's why depositors are limited to $15,000 before being forced to transition those funds into a traditional IRA or other investment tool. This alone should help to insure that the government isn't in possession of an individual funds indefinitely. Correct me if I'm wrong, but I don't believe that there are any restrictions prohibiting that transition into a traditional IRA or other investment tool prior to attaining the $15,000 limit, so where's the harm?

Oh yeah, it's no big deal for the employer either. I know this because I got my local union members involved in a similar program 20+ yrs. ago and for most of them, it was their first experience with personal retirement planning. We set up payroll deductions and automatic deposits. It was a piece of cake. If an employer wouldn't take the effort to help his employees get started, he/she doesn't give a big hairy rats ass about them to begin with. Just my opinion.

reply to post by Flatfish


I don't have that low of an opinion of my fellow Americans to think they need someone else to 'save' money for them.

Mrya is a declaration that Americans need someone else to take care of them which is par for the course.

SS said that, and every other government program says that.

That people are NOTHING without government 'benevolence'.

neo96
reply to post by Flatfish

 

Oh yeah, I'm already retired. I retired at age 48 on one of those dreaded union pension plans that happens to be fully funded because we didn't allow our employer to "promise" to pay. W

Well then should be fully aware where your union invested that pension at evil Wall Street.

Then of course get's hit with another medicare tax it's capital gains.

www.forbes.com...

I wonder if MYRA will get hit with the same medicare tax.

Actually, my pension fund is a qualified plan under the ERISA guidelines and operates on a not-for-profit basis which allow us to qualify for tax-exempt status. We don't have "capital gains" or pay dividends, we operate "Exclusively" for the promotion of social welfare.

Now, doesn't that just piss you off!

Oh yeah, while it is true that we had substantial investments in the evil stock market, some of our very best returns came from underwriting huge construction projects that utilized only union labor. Go figure!

reply to post by Flatfish

Actually, my pension fund is a qualified plan under the ERISA guidelines and operates on a not-for-profit basis which allow us to qualify for tax-exempt status.

Getting more out than paid in ?

Then your profiting.

reply to post by macman

It is. All it does is attempt to deflect and attack others.

So, pointing out the fact that every President in US history has used EOs; most more than Obama...that is somehow deflecting and attacking others? I don't see how that is attacking or deflecting...unless you think by pointing that out I was implying most previous Presidents were more dictatorial/imperialistic than Obama. If that is what you think, then you are probably right.

Well, when the shoes fit............

If the use of EOs is the measuring stick, then I got news for you. That shoe fits every president in US history.

You have got to be f'ing kidding me. Please, go and be honest and review all the crap that was put out on Bush.

I do not recall any President in my lifetime receiving such unified and prolonged accusations of being a dictator/emperor ever...especially from congress. Why don't you be honest about it.

You are quickly turning into the most dishonest person here.

Until I catch up to you, I think I'm safe.

Flatfish

neo96
reply to post by Flatfish

 

Oh yeah, I'm already retired. I retired at age 48 on one of those dreaded union pension plans that happens to be fully funded because we didn't allow our employer to "promise" to pay. W

Well then should be fully aware where your union invested that pension at evil Wall Street.

Then of course get's hit with another medicare tax it's capital gains.

www.forbes.com...

I wonder if MYRA will get hit with the same medicare tax.

Actually, my pension fund is a qualified plan under the ERISA guidelines and operates on a not-for-profit basis which allow us to qualify for tax-exempt status. We don't have "capital gains" or pay dividends, we operate "Exclusively" for the promotion of social welfare.

Now, doesn't that just piss you off!

Oh yeah, while it is true that we had substantial investments in the evil stock market, some of our very best returns came from underwriting huge construction projects that utilized only union labor. Go figure!

edit on 30-1-2014 by Flatfish because: (no reason given)

Doesnt piss me off... why should it piss anyone off? Weird...

Anyway, is this benefit open to anyone.. or only certain people?

neo96

I don't have that low of an opinion of my fellow Americans to think they need someone else to 'save' money for them.

Mrya is a declaration that Americans need someone else to take care of them which is par for the course.

SS said that, and every other government program says that.

That people are NOTHING without government 'benevolence'.

Then don't participate! No one is forcing you to do a damn thing. But just because it may not be right for you doesn't mean that it's not right for others.

No one is saving money for anyone else, it's their own damn money. It's about making the effort to get people to thinking about saving and retirement planning.

For someone who's adamantly against any form of social welfare, I find it hard to understand why you're against this. (unless of course, it's due to your stringent policy of opposing any and all initiatives supported by President Obama.)

I learned this lesson when I was 16 yrs. old and just starting as a longshoreman. We had a Credit Union that offered automatic payroll deduction/deposits directly into your personal savings account. I joined and it didn't take long, (after signing up for automatic payroll deductions) to realize that I could save a hell of a lot more money if it never passed through my hands.

You know the old saying; "Out of sight, out of mind."

That's all this really is, a chance to safely introduce a lot of people to retirement planning. How can that be so bad?

reply to post by Flatfish

Then don't participate! No one is forcing you to do a damn thing. But just because it may not be right for you doesn't mean that it's not right for others.

Now that is a most excellent comment!

Which covers EVERY private investment vehicle Americans have had for over 100 years

No one is saving money for anyone else, it's their own damn money. It's about making the effort to get people to thinking about saving and retirement planning.

Oh so Americans are too dumb to figure that out on their own ?

They need government!

For someone who's adamantly against any form of social welfare, I find it hard to understand why you're against this. (unless of course, it's due to your stringent policy of opposing any and all initiatives supported by President Obama.)

Do you see government, and unions investing with the US government ?

Nope.

learned this lesson when I was 16 yrs. old and just starting as a longshoreman. We had a Credit Union that offered automatic payroll deduction/deposits directly into your personal savings account. I joined and it didn't take long, (after signing up for automatic payroll deductions) to realize that I could save a hell of a lot more money if it never passed through my hands. you know the old saying; "Out of sight, out of mind."

When I was 5 I asked my mom for a jar to put my pennies in.

That's all this really is, a chance to safely introduce a lot of people to retirement planning. How can that be so bad?

That they already have with every private investment account this country has to offer, and with that awesome retirement plan 'SS'.