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| Bush’s Faux Ownership Society. | |
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| Tweet Topic Started: Feb 16 2005, 01:18 PM (192 Views) | |
| jrf | Feb 16 2005, 06:58 PM Post #16 |
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Mine are parked under an oak tree in the FRONT yard.
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| BuddyIAm | Feb 16 2005, 07:19 PM Post #17 |
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What’s left of my trees are corded up next to my cars.
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"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity." "Facts are stupid things." - Ronald Regan "Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin | |
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| cruiser | Feb 16 2005, 07:32 PM Post #18 |
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FYI buddy, you can not use 401k money or IRA money for collateral. |
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| jrf | Feb 16 2005, 08:48 PM Post #19 |
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And if one takes out the IRA money early you have to pay a penalty. A big penalty. Plus income taxes. Plus any brokerage fees. I wonder if they stick that money in The Big Penalty Fund and save it for a rainy day. |
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| wolfe59 | Feb 16 2005, 09:07 PM Post #20 |
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No I think it goes into Al Gores "LOCK BOX". |
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| jrf | Feb 16 2005, 09:21 PM Post #21 |
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Curious now. Has anyone seen data on how much money goes to the gov't cookie jar from IRA early withdrawal penaties? Health Account forfeitures? etc. How many people contribute to SS and never have a significant benefit paid? $$? ---- Hmmm. I before E except after C. Forfeiture? |
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| tomdrobin | Feb 16 2005, 09:28 PM Post #22 |
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Buddy Unfortunately those who now, don't have the self discipline to save for retirement, would if allowed, borrow against their owned SS, or withdraw it, and end up with nothing. And, then expect some form of welfare to bail them out. So even though it is "owned", they shouldn't have full control. |
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| jrf | Feb 16 2005, 09:40 PM Post #23 |
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Even ownership in land comes with restrictions. I was surprised to read what the legal definition of land was. Or something along those lines several years ago. "Its my land, I can do with it what I want" is not valid. Same goes for your horse, your dog, the big pile of used tires out back and etc. As I understand it, I don't even own the greenbacks in my pocket. There are restrictions there too. I won't ever have the experience of carrying two million of them in a briefcase through customs, but I wonder.... |
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| BuddyIAm | Feb 16 2005, 09:56 PM Post #24 |
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Land can be bought and sold. Your horse or dog can be sold. 401k and IRA’s can be sold. With penalty.. But you can not sell your children.. Because you CAN NOT OWN THEM.. There is no ownership in a piece of paper that you can not negotiate a value. It’s just paper with numbers assigned to it.. And the unfortunate mention of a single word.. Could erase those numbers to oblivion... |
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"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity." "Facts are stupid things." - Ronald Regan "Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin | |
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| jrf | Feb 16 2005, 10:28 PM Post #25 |
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Or in the case of Greenspan, cause the Canadian dollar to move south and the US dollar to move up. Darn I like that guy. Amazing how the words of one man could cause such changes, and he's not even President and doesn't even use words like dastardly or demons or reign of terror or polygon of money mongers and stuff. |
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| BuddyIAm | Feb 16 2005, 11:04 PM Post #26 |
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JRF The Canadian dollar did fall last week. But the Canadian dollar took a HUGE SPIKE UP during Greenspan’s speech.. Then settled down to end the day up from the past 3 days. In either case.. One unfortunate word. Can change the world.. http://www.dailyfx.com/FinanceChart.html?symbol=USD/CHF |
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"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity." "Facts are stupid things." - Ronald Regan "Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin | |
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| cmoehle | Feb 17 2005, 05:46 AM Post #27 |
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Chris - San Antonio TX
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Greenspan is a careful speaker, Bush a careful reader. |
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Politics is the art of achieving the maximum amount of freedom for individuals that is consistent with the maintenance of social order. --Barry Goldwater | |
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| Banandangees | Feb 17 2005, 09:00 AM Post #28 |
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Yes
I enjoy listening to Greenspan answer the senators questions. They ask what appears to be a simple question and expect a simple answer. He, in his own typically calm way, lets them know that the answer to their simple question does not have a simple answer - not if you consider all the ramifications that come with any specific pat answer.edit: It seem to me that there is a 10% penalty on any funds taken out of a traditional IRA or 401K before age 59 1/2. In a Roth IRA, there is no penalty on funds taken out after five years of initiation of plan no matter what the age. |
| Banan | |
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| BuddyIAm | Feb 17 2005, 12:44 PM Post #29 |
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Chris says: Bush a careful reader. Buddy says: Careful to not read a newspaper..
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"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity." "Facts are stupid things." - Ronald Regan "Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin | |
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8:22 AM Jul 11