Quite True....there is a joke circulating on the Internet that is More
Truth, than Joke. It goes something like...."This Nation is becoming increasingly divided between those who "Work" for a Living, and Those who "Vote" for a Living.
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--- In ibmpensionissues@..., KenSP@... wrote:
I am retired and I have to tell you it is tough living on a reduced IBM pension and social security.? I draw down my 401 to make ends meet.? You have a right to be concerned. I do not know how those IBMers?who receive a small or no pension.My biggest concern is the talk about social security and Medicare?will be need based. So once the IRS has all your financial information - How much is in your 401 and if you have a coop apartment, they will be able to reduce or deny you these benefits until you spend everything you saved. This will be supported by those?who believe that the "rich could pay a little more"It is like the discussion of closing the tax loop holes.? This includes denying mortgage, real estate, and state income tax deductions since the poor do not receive these benefits and 40% or more do not even pay any income tax so they do not care if income taxes are raised. So raise taxes and close loop holes is supported by many who believe in sharing the wealth. The rich alone cannot support the social programs, you must tax everyone who works. Democracy is destroyed when those who? do not work become the majority and vote into office those who give them something for nothing or give them more then they put in by taking it away from those who work or save - the workers are the rich ones since they have more than those who do not work but vote.----- Original Message -----From: Kevin W Date: Monday, July 29, 2013 9:16 amSubject: [ibmpensionissues] Re: Part Deux" o'bama?care and a a link to grow onTo: ibmpensionissues@...> I'm only an investor as it amounts to the money in my 401K. Of > course my 401K isn't where I wanted it to be by now, but that is > mostly my fault. yeah I got hit in the corrections but the > numbers would be meaningless if I had invested earlier and put > more of my money away. I also have the last version of the > pension. It'll be something less than 1/3 of my pay. Nothing > to brag about, but better than nothing. Push come to shove, my > wife and I could abandon everything and live on that pension as > long as we didn't care about medical.> Social security I truly did not expect it to be here. I > expected it to be a thing of the past. If it still happens to > be here when I retire I expect our dear feds will find a way to > say between my pension and my 401k that I am one of the rich > ones and don't deserve the money I unwillingly put aside in the > social security fund.> By then I expect if possible our government will have found a > way to absorb not only our 401Ks?but our remaining pensions and > will say it is for the safety and security of the people. I of > course will lose out since out any such event I will get 1/10th > of what I would get otherwise and those without will get my > money. It will show that hard work and perseverance meant nothing.> Sorry I got off on a tangent.> I continue to put away in my 401K, I look for a better job with > decent benefits which would then enable me to draw my pension as > additional money. I look for ways to balance the loss in my > home which is still severely underwater no matter what the news > pundits cheerily tell us. > > --- In ibmpensionissues@..., GM wrote:> >> > How many investors do we have in here?? > > ?> > I haphazardly joined thinking we would have more about 401Ks > "up in?'here"? as they say on my street.??I have this little > article?its a once upon a time story about an?IRS agent that > lived to be 101.? She survived the great depression and every > investment?obstacle before her?and didn't need O'Bama care > either.? In a snap shot, bag your lunch wear your clothes until > the last thread is wearable and save like mad and buy the stocks > of the products you use and take the food from the Stockholders > meetings.? Her last two investments were Apple and MCI.? She > would have lost her ass on MCI?but?the estate would have grossed > 75K on a 100 share Apple investment and that's because the > system of Capitalism some times still works.? If you can get a > copy of the original article? you can see her top 10 > investments.? > > ?> > This is my bible for investing.? I am sharing this because I > am a giver, and communists/socialist/progressives are takers.??> > ?> > End of story, period.> > ?> > > >> > >
