Comments for Perot Charts http://perotcharts.com Charting Government Fiscal Irresponsibility Thu, 20 Nov 2008 15:32:11 +0000 http://wordpress.org/?v=2.5.1 Comment on Hold on to your 401(k)…if you can. by EdLaborDemocrats http://perotcharts.com/2008/11/save_your_401k/#comment-986 EdLaborDemocrats Tue, 18 Nov 2008 19:36:38 +0000 http://perotcharts.com/?p=157#comment-986 Response to PerotCharts (and all who are following this story) Investment News totally misrepresented Chairman Miller’s views and position on the taxation of 401(k) plans. Chairman Miller does not support ‘abolishing’ 401(k)s, moving these plans, or changing their tax status, plain and simple. Mike Kruger House Education and Labor Committee Response to PerotCharts (and all who are following this story)

Investment News totally misrepresented Chairman Miller’s views and position on the taxation of 401(k) plans. Chairman Miller does not support ‘abolishing’ 401(k)s, moving these plans, or changing their tax status, plain and simple.

Mike Kruger
House Education and Labor Committee

]]> Comment on Hold on to your 401(k)…if you can. by PerotCharts http://perotcharts.com/2008/11/save_your_401k/#comment-985 PerotCharts Mon, 17 Nov 2008 21:05:32 +0000 http://perotcharts.com/?p=157#comment-985 Response to Mr. Mike Kruger from the House Education and Labor Committee. (See Comment 13 below.) We appreciate your response to the posting about the testimony of Prof. Ghilarducci to the House Education and Labor Committee. We agree with two of the points that you make concerning 401(k) plans: (1) we, too, support any proposals that would disclose hidden fees associated with the retirement plans of individuals; and (2) certainly, it makes perfect sense to suspend the unfair tax penalty for seniors who don’t take a minimum withdrawal from their depleted retirement accounts. In addition, we also agree with all of your suggestions for improvements to 401(k) plans mentioned in your website at http://edlabor.house.gov/issues/strengthening401ks.shtml. Our apprehension about the future of 401(k) plans stems from several reports that were most likely fostered by this article in “Investment News” http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971. In addition to the passages already mentioned in the original post, the article also contained the following information: “I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ms. Ghilarducci said. [Question: Exactly what is “our nation’s dollar for retirement”?] She has been in contact with Mr. Miller and Mr. McDermott about her plan, and they are interested in pursuing it, she said. “This [plan] is certainly intriguing,” said Mike DeCesare, press secretary for Mr. McDermott. ‘This is part of the discursion,” he said. While Mr. Miller stopped short of calling for Ms. Ghilarducci’s plan at the hearing last week, he was clearly against continuing tax breaks as they currently exist. To us, the proposal looks like and sounds like yet another entitlement program. If, in fact, the author of the article in Investment News misinterpreted Rep. Miller’s and Rep. McDermott’s views about the future of the taxation of 401(k) plans, please let us know. Editor PerotCharts.com Response to Mr. Mike Kruger from the House Education and Labor Committee. (See Comment 13 below.)

We appreciate your response to the posting about the testimony of Prof. Ghilarducci to the House Education and Labor Committee. We agree with two of the points that you make concerning 401(k) plans: (1) we, too, support any proposals that would disclose hidden fees associated with the retirement plans of individuals; and (2) certainly, it makes perfect sense to suspend the unfair tax penalty for seniors who don’t take a minimum withdrawal from their depleted retirement accounts. In addition, we also agree with all of your suggestions for improvements to 401(k) plans mentioned in your website at http://edlabor.house.gov/issues/strengthening401ks.shtml.

Our apprehension about the future of 401(k) plans stems from several reports that were most likely fostered by this article in “Investment News” http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971.
In addition to the passages already mentioned in the original post, the article also contained the following information:
“I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ms. Ghilarducci said. [Question: Exactly what is “our nation’s dollar for retirement”?]
She has been in contact with Mr. Miller and Mr. McDermott about her plan, and they are interested in pursuing it, she said.
“This [plan] is certainly intriguing,” said Mike DeCesare, press secretary for Mr. McDermott.
‘This is part of the discursion,” he said.
While Mr. Miller stopped short of calling for Ms. Ghilarducci’s plan at the hearing last week, he was clearly against continuing tax breaks as they currently exist.

To us, the proposal looks like and sounds like yet another entitlement program.
If, in fact, the author of the article in Investment News misinterpreted Rep. Miller’s and Rep. McDermott’s views about the future of the taxation of 401(k) plans, please let us know.

Editor

PerotCharts.com

]]> Comment on Hold on to your 401(k)…if you can. by martron3000 http://perotcharts.com/2008/11/save_your_401k/#comment-984 martron3000 Mon, 17 Nov 2008 00:38:18 +0000 http://perotcharts.com/?p=157#comment-984 This sounds like just another way for the government to grab more of peoples' hard-earned money so they can then turn it over to their crooked, overpaid corporate cronies and bankers. I don't even have a 401(k) plan, but can see this a terrible idea. This sounds like just another way for the government to grab more of peoples’ hard-earned money so they can then turn it over to their crooked, overpaid corporate cronies and bankers. I don’t even have a 401(k) plan, but can see this a terrible idea.

]]> Comment on Hold on to your 401(k)…if you can. by lse031 http://perotcharts.com/2008/11/save_your_401k/#comment-982 lse031 Sun, 16 Nov 2008 21:56:53 +0000 http://perotcharts.com/?p=157#comment-982 I sent eMails to two reps/senators and a letter to one senator (John Warner who does not take eMails and to Roy Blunt (whip--acting on behalf of republicans thereby representing all of us no matter where we reside, and the same for Eric Cantor who got a voicemail message because he has not eMail on his site that I can find. No tax increase to the middle class--he shouted as he ran through the country. We (people like me) explained the truth but you did not listen. We showed you where to see what Congress is really doing before you voted--but you did not read--you laughed at others and me. This proposal is the outcome of putting your/our head(s) in the sand and ignoring the pre-election warnings. Let us stop this before it becomes a reality. Please take time today and (politely) let everyone in the house and senate that you oppose the government coming into our bank accounts and taking our money to redistribute it as they see fit and to whom they see fit. Thank you all. I am just astounded at this idea getting so far along...are they taking just money or property and how much--from whom???? I am truly angry. Thank you for getting the facts out. I sent eMails to two reps/senators and a letter to one senator (John Warner who does not take eMails and to Roy Blunt (whip–acting on behalf of republicans thereby representing all of us no matter where we reside, and the same for Eric Cantor who got a voicemail message because he has not eMail on his site that I can find.

No tax increase to the middle class–he shouted as he ran through the country. We (people like me) explained the truth but you did not listen. We showed you where to see what Congress is really doing before you voted–but you did not read–you laughed at others and me.

This proposal is the outcome of putting your/our head(s) in the sand and ignoring the pre-election warnings. Let us stop this before it becomes a reality.

Please take time today and (politely) let everyone in the house and senate that you oppose the government coming into our bank accounts and taking our money to redistribute it as they see fit and to whom they see fit.

Thank you all.

I am just astounded at this idea getting so far along…are they taking just money or property and how much–from whom????

I am truly angry. Thank you for getting the facts out.

]]> Comment on Hold on to your 401(k)…if you can. by superlead200 http://perotcharts.com/2008/11/save_your_401k/#comment-981 superlead200 Sat, 15 Nov 2008 20:28:18 +0000 http://perotcharts.com/?p=157#comment-981 It would be economic suicide to raise taxes at this point. The people can spend their own money far better than any government bureaucratic boongoggle can. How can you justify government spending anything with any degree of responsibility after witnessing what they have already perpetrated on our next four generations! I don't mean to be vague but I have to say that again Ross was correct in pointing out this impending financial mess years ago. Did anyone in government listen? Maybe a few, but they were drowned out by our disgraceful corrupt media. I remember when Ross couldn't buy airtime from any of the major networks to try to warn us from what is happening now. They tried to block him in every way and succeeded. Oh, they don't have their own agenda, yeah right! By the way,I use the newspaper to line my cat box! Thats it! I still voted for Ross Perot because i had to vote my conscience, and if people thought that he had a chance, he would have won bigtime. It is our responsibility as individuals to keep a close eye on who we put into office from the local levels up to the highest. I'm sure this mess would start to clear up if every single public servant trusted with spending the taxpayers money was held to fiscal responsibility as well as accountability. These people are supposed to be public servants after all. Do they act like public servants? Do you think they are acting in your best interest? No way, government should have a limited role anyway being that they have proven over and over to be utterly incompetent in every way. What happened to learning from history? Government can't solve these problems, we can by holding their feet to the fire and holding them accountable. I love this quote by Thomas Jefferson," When you have a people that fear its government, you have tyranny, When you have a government that fears the people, you'll have democracy." Which one applies right now?? If we forced our 9% rated congress to work like a sequestered jury, they might manage to accomplish something for once besides voting themselves pay raises. By the way, wouldn't you like to vote yourself a pay raise like our congress? "I think i'll give myself a raise today!" Do you think any of these people run their personal lives the way they govern? The problem is they aren't held accountable. If we were faced with these problems in our own lives, we wouldn't have the luxury of taking a vacation or recess every time it's convenient. I certainly wouldn't, I'd be embarassed and ashamed of a 9% rating personally. These are all perfect reasons for completely streamlining our government and forcing it to finally work for the people the way it was intended. That is why it's so important for us to dump the corrupt two party system and take back our country. This can be accomplished if we really want our government to work the way it was origionally intended. This would address and solve all of the problems eloquently noted in the commentary above. We just have to believe that it can be done, then do it. Please keep up the good work. It would be economic suicide to raise taxes at this point. The people can spend their own money far better than any government bureaucratic boongoggle can. How can you justify government spending anything with any degree of responsibility after witnessing what they have already perpetrated on our next four generations! I don’t mean to be vague but I have to say that again Ross was correct in pointing out this impending financial mess years ago. Did anyone in government listen? Maybe a few, but they were drowned out by our disgraceful corrupt media. I remember when Ross couldn’t buy airtime from any of the major networks to try to warn us from what is happening now. They tried to block him in every way and succeeded. Oh, they don’t have their own agenda, yeah right! By the way,I use the newspaper to line my cat box! Thats it!
I still voted for Ross Perot because i had to vote my conscience, and if people thought that he had a chance, he would have won bigtime. It is our responsibility as individuals to keep a close eye on who we put into office from the local levels up to the highest. I’m sure this mess would start to clear up if every single public servant trusted with spending the taxpayers money was held to fiscal responsibility as well as accountability. These people are supposed to be public servants after all. Do they act like public servants? Do you think they are acting in your best interest? No way, government should have a limited role anyway being that they have proven over and over to be utterly incompetent in every way.
What happened to learning from history? Government can’t solve these problems, we can by holding their feet to the fire and holding them accountable. I love this quote by Thomas Jefferson,” When you have a people that fear its government, you have tyranny, When you have a government that fears the people, you’ll have democracy.” Which one applies right now?? If we forced our 9% rated congress to work like a sequestered jury, they might manage to accomplish something for once besides voting themselves pay raises. By the way, wouldn’t you like to vote yourself a pay raise like our congress? “I think i’ll give myself a raise today!” Do you think any of these people run their personal lives the way they govern? The problem is they aren’t held accountable. If we were faced with these problems in our own lives, we wouldn’t have the luxury of taking a vacation or recess every time it’s convenient. I certainly wouldn’t, I’d be embarassed and ashamed of a 9% rating personally. These are all perfect reasons for completely streamlining our government and forcing it to finally work for the people the way it was intended. That is why it’s so important for us to dump the corrupt two party system and take back our country. This can be accomplished if we really want our government to work the way it was origionally intended. This would address and solve all of the problems eloquently noted in the commentary above. We just have to believe that it can be done, then do it.
Please keep up the good work.

]]> Comment on Hold on to your 401(k)…if you can. by EdLaborDemocrats http://perotcharts.com/2008/11/save_your_401k/#comment-978 EdLaborDemocrats Thu, 13 Nov 2008 20:08:18 +0000 http://perotcharts.com/?p=157#comment-978 The rumors that some in Congress, including Chairman George Miller, are planning to confiscate Americans’ 401(k)s are absolutely ridiculous. Fact checkers (http://www.msnbc.msn.com/id/27487450) have called these claims by partisan hacks as “last-minute election fear mongering.” We are not considering proposals to take away your 401(k), tax your 401(k) or force you into a government program. Plain and simple. In fact, Chairman Miller is working to preserve and strengthen 401(k)s. He wants to ensure that 401(k)s adequately protect workers’ nest eggs by disclosing hidden fees that are eating into Americans’ retirement accounts. And, because older Americans stand to suffer the most from the economic downturn, Miller has called for the suspension of the unfair tax penalty for seniors who don’t take a minimum withdrawal from their depleted retirement accounts. If you want to know more about what Chairman Miller is doing to make sure that American workers can enjoy a safe and secure retirement, go to our website: http://edlabor.house.gov/issues/strengthening401ks.shtml Mike Kruger House Education and Labor Committee The rumors that some in Congress, including Chairman George Miller, are planning to confiscate Americans’ 401(k)s are absolutely ridiculous. Fact checkers (http://www.msnbc.msn.com/id/27487450) have called these claims by partisan hacks as “last-minute election fear mongering.”

We are not considering proposals to take away your 401(k), tax your 401(k) or force you into a government program. Plain and simple.

In fact, Chairman Miller is working to preserve and strengthen 401(k)s. He wants to ensure that 401(k)s adequately protect workers’ nest eggs by disclosing hidden fees that are eating into Americans’ retirement accounts. And, because older Americans stand to suffer the most from the economic downturn, Miller has called for the suspension of the unfair tax penalty for seniors who don’t take a minimum withdrawal from their depleted retirement accounts.

If you want to know more about what Chairman Miller is doing to make sure that American workers can enjoy a safe and secure retirement, go to our website: http://edlabor.house.gov/issues/strengthening401ks.shtml

Mike Kruger
House Education and Labor Committee

]]> Comment on Hold on to your 401(k)…if you can. by Ken_Moyes http://perotcharts.com/2008/11/save_your_401k/#comment-977 Ken_Moyes Thu, 13 Nov 2008 17:55:31 +0000 http://perotcharts.com/?p=157#comment-977 Take a good look at the people being targeted in this effort. The participants in the 401K's tax deferral program are generally private sector working people making $40,000 or $50,000 and up. My experience in managing large groups of people is that those in the lower income brackets do not contribute to 401K's despite employer matching. Those who do not contribute also represent the group who most likely will receive a check from President Obama under his income redistribution plan. In this country, we have allowed the middle class to whither, leaving haves and have nots. The Democrats have seized on this emerging lower income demographic and are using it to build a new powerful Democrat voting bloc - those who are seeking government to manage their lives and take care of them. All future plans of the Democrats will focus on this group - thus the elimination of 401K tax deferral. Should anyone feel comfortable giving up their 401K for a guarantee from our government that they will be taken care of - No! http://brokengovernment.wordpress.com Take a good look at the people being targeted in this effort. The participants in the 401K’s tax deferral program are generally private sector working people making $40,000 or $50,000 and up. My experience in managing large groups of people is that those in the lower income brackets do not contribute to 401K’s despite employer matching. Those who do not contribute also represent the group who most likely will receive a check from President Obama under his income redistribution plan.

In this country, we have allowed the middle class to whither, leaving haves and have nots. The Democrats have seized on this emerging lower income demographic and are using it to build a new powerful Democrat voting bloc - those who are seeking government to manage their lives and take care of them. All future plans of the Democrats will focus on this group - thus the elimination of 401K tax deferral.

Should anyone feel comfortable giving up their 401K for a guarantee from our government that they will be taken care of - No!

http://brokengovernment.wordpress.com

]]> Comment on The Spending Trend is Not Sustainable by Takeitback http://perotcharts.com/2008/05/the-spending-trend-is-not-sustainable/#comment-976 Takeitback Thu, 13 Nov 2008 17:54:10 +0000 http://perotcharts.com/?p=70#comment-976 The chart above clearly shows that the problem is not Social Security. The Boomers have paid in more than they will ever receive from this fund. The real problem is health care as shown by the Medicade and Medicare increases. The only solution for this problem is national health care and I'm afraid the short sighted people who have opposed this inthe past are the primary cause of this great burden. There is gross waste in U.S. health care with many redundant insurance plans, forms, deductions, office workers, CEOs, advertising etc. The savings alone from removing this waste and using electronic medical records would cover additional health care to millions of uninsured. Other areas where there are problems: 1) People getting benefits without ever paying into the system. This is primarily women who also live longer. This is being somewhat reduced as more women work but they do not contribute nearly as much as men. 2) 60% of medicare spending is done inthe last 6 months of life. This is due to efforts by family to do everythig possible to keep someone alive but it a waste of money. We must have hard limits. If someone is given tow independant opinions that they have less than a year to live then they should be made confortable and not spend money on more tests and expensive care. 3) Medicade is health spend on the poor. A national health care system would cover them and make this unnecessary. Medicade can be blamed on boomers but can partially be blamed on our ignorant immigration system that lets millions cross our borders and then become legal. We must complete the fence on the Mexican border, shut down employers of illegals and change our laws that allow any baby born inthe U.S. to be a citizen with illegal parents. Letting im millions of poor will only increase Medicade expenses. Don't mistake national health care as being totally funded by the government. Employers now pay for much of the employee's insurance, they will have to just pay in a % amount into the national plan. Individuals will all need to pay something as well. Even the poor can pay a small co pay. We either have the guts to force Congress to take hard measures or we go down as another failed experiment. The chart above clearly shows that the problem is not Social Security. The Boomers have paid in more than they will ever receive from this fund. The real problem is health care as shown by the Medicade and Medicare increases. The only solution for this problem is national health care and I’m afraid the short sighted people who have opposed this inthe past are the primary cause of this great burden.
There is gross waste in U.S. health care with many redundant insurance plans, forms, deductions, office workers, CEOs, advertising etc.
The savings alone from removing this waste and using electronic medical records would cover additional health care to millions of uninsured.

Other areas where there are problems:
1) People getting benefits without ever paying into the system. This is primarily women who also live longer. This is being somewhat reduced as more women work but they do not contribute nearly as much as men.

2) 60% of medicare spending is done inthe last 6 months of life. This is due to efforts by family to do everythig possible to keep someone alive but it a waste of money. We must have hard limits. If someone is given tow independant opinions that they have less than a year to live then they should be made confortable and not spend money on more tests and expensive care.

3) Medicade is health spend on the poor. A national health care system would cover them and make this unnecessary. Medicade can be blamed on boomers but can partially be blamed on our ignorant immigration system that lets millions cross our borders and then become legal. We must complete the fence on the Mexican border, shut down employers of illegals and change our laws that allow any baby born inthe U.S. to be a citizen with illegal parents. Letting im millions of poor will only increase Medicade expenses.

Don’t mistake national health care as being totally funded by the government. Employers now pay for much of the employee’s insurance, they will have to just pay in a % amount into the national plan. Individuals will all need to pay something as well. Even the poor can pay a small co pay.

We either have the guts to force Congress to take hard measures or we go down as another failed experiment.

]]> Comment on The Next President Will be a Slave to Bush Administration Fiscal Woes by superlead200 http://perotcharts.com/2008/08/the-next-president-will-be-a-slave-to-bush-administration-fiscal-woes/#comment-972 superlead200 Wed, 12 Nov 2008 23:56:36 +0000 http://perotcharts.com/?p=150#comment-972 I agree with all of you! It is our responsibility to fix this mess? It's not going to go away on it's own and it will take a strong argument against the two party monopoly in order to really have a chance. Well remember ross in 92"? We have to have someone we know we can trust to spearhead the real changes we need. I know there are enough of us who will respond to an organized campaign based on facts and how to fix the problem head on. This will entail a sweeping campaign recognizing every single political rep from every level who have helped perpetuate this financial meltdown by sending THEM to the unemployment line for a change. If we the people ever had a strong case against our failed two party stronghold, this is it. The job application has to match the record, talk doesn't cut it! I don't need to go into the details as we all know what has to be done to corral and eliminate the problem. I for one demand transparency and there's no way any of us would allow this in our own lives so why with our government?? That's really what this is all about. Our govt. must work within it's means like the rest of us. In closing, all we have to do is organize like in 92' except now we have a case infinitely more compelling to get broad support from the huge number of people just waiting to jump aboard. This time it should be easy to shine the light on the problem and how to fix it! I am always interested in commentary so please speak your mind and stay informed. All the Best! I agree with all of you! It is our responsibility to fix this mess? It’s not going to go away on it’s own and it will take a strong argument against the two party monopoly in order to really have a chance. Well remember ross in 92″? We have to have someone we know we can trust to spearhead the real changes we need. I know there are enough of us who will respond to an organized campaign based on facts and how to fix the problem head on. This will entail a sweeping campaign recognizing every single political rep from every level who have helped perpetuate this financial meltdown by sending THEM to the unemployment line for a change. If we the people ever had a strong case against our failed two party stronghold, this is it. The job application has to match the record, talk doesn’t cut it! I don’t need to go into the details as we all know what has to be done to corral and eliminate the problem. I for one demand transparency and there’s no way any of us would allow this in our own lives so why with our government?? That’s really what this is all about. Our govt. must work within it’s means like the rest of us. In closing, all we have to do is organize like in 92′ except now we have a case infinitely more compelling to get broad support from the huge number of people just waiting to jump aboard. This time it should be easy to shine the light on the problem and how to fix it! I am always interested in commentary so please speak your mind and stay informed.
All the Best!

]]> Comment on Hold on to your 401(k)…if you can. by Popeye http://perotcharts.com/2008/11/save_your_401k/#comment-971 Popeye Wed, 12 Nov 2008 23:18:26 +0000 http://perotcharts.com/?p=157#comment-971 This sure reeks of a "tax increase" for those fortunate enough to have a 401k or similar program. The Gov't has been hammering us with advice to save for a retirement & don't depend solely on Social Security during your retirement years. So now I have done so & they propose to change the rules & penalize me for being prudent & following their advice. The Gov't can't take care of itself, how or why should I trust them with more of my money? After the $700 billion bailout, & growing by some estimates to $3.5 trillion after just a few weeks, & now more are holding their hands out; I'm plenty mad at any proposal of this nature. This bailout was a hugely bi-partisan bill with no checks & balances to see that the money would be used as the Congress intended. If the Gov't needs more money here's a novel idea; quit spending it! There is a tomorrow & they are spending not only our kids' future, but several generations to boot. The big Fat Cats on Wall Street; rich CEOs & other high ranking corporate officials getting pats on the back for failing companies is insane! All the while, "Joe the Plumber" on Main Street is trying to figure out where his family's next meal is coming from. Failing companies won't be hiring anytime soon; altho, their CEOs will get huge bonuses anyway. The average "Joe" on Main Street just wants a decent job to keep a roof over his/her family & food on the table & to provide the family with some "perks" now & then. The next election can't come fast enough for me so I can vote against more incumbents. This sure reeks of a “tax increase” for those fortunate enough to have a 401k or similar program. The Gov’t has been hammering us with advice to save for a retirement & don’t depend solely on Social Security during your retirement years. So now I have done so & they propose to change the rules & penalize me for being prudent & following their advice. The Gov’t can’t take care of itself, how or why should I trust them with more of my money? After the $700 billion bailout, & growing by some estimates to $3.5 trillion after just a few weeks, & now more are holding their hands out; I’m plenty mad at any proposal of this nature. This bailout was a hugely bi-partisan bill with no checks & balances to see that the money would be used as the Congress intended. If the Gov’t needs more money here’s a novel idea; quit spending it! There is a tomorrow & they are spending not only our kids’ future, but several generations to boot. The big Fat Cats on Wall Street; rich CEOs & other high ranking corporate officials getting pats on the back for failing companies is insane! All the while, “Joe the Plumber” on Main Street is trying to figure out where his family’s next meal is coming from. Failing companies won’t be hiring anytime soon; altho, their CEOs will get huge bonuses anyway. The average “Joe” on Main Street just wants a decent job to keep a roof over his/her family & food on the table & to provide the family with some “perks” now & then.
The next election can’t come fast enough for me so I can vote against more incumbents.

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