Comments for robvstate.com

Comment on Insider trading is legal… by Wolfgangjr

Wolfgangjr — Wed, 25 Aug 2010 19:34:20 +0000

Sure would be nice if the population would go to the polls and show our congress how we feel about insider trading and vote them out. It’s amazing that our high court hasn’t tackled the problem yet.

Comment on Citibank – Seven day advance notice for withdrawals by college loans

college loans — Mon, 28 Jun 2010 08:24:14 +0000

nice post. thanks.

Comment on Insider trading is legal… by Random

Random — Mon, 21 Jun 2010 08:30:32 +0000

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Comment on Insider trading is legal… by CNA jobs

CNA jobs — Fri, 18 Jun 2010 12:32:11 +0000

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Comment on Insider trading is legal… by Pat

Pat — Thu, 17 Jun 2010 08:20:33 +0000

Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher!

Comment on Paper money and the presidents on it by college scholarship

college scholarship — Mon, 14 Jun 2010 02:43:25 +0000

nice post. thanks.

Comment on Civil Servants by Rob Paris

Rob Paris — Fri, 11 Jun 2010 22:55:40 +0000

Joe – That’s true, there are plenty of companies offering lifetime annuities. But what happens when the company estimates wrong? It goes out of business. What happens when the government estimates wrong? It raises taxes. A little moral hazard there.
The SS payment is somewhat based on how much you put in, but not entirely. Look at Ida May Fuller. $24.75 in, $22,888.92 out. Also consider the impact on Social Security survivors insurance for those who are married compared to those who aren’t.
I’m not going to disagree with you about the government spending the money. You’re totally right. And that’s why their current liabilities aren’t on the book. $100 trillion is a lot of money… before hyperinflation that is.

joeatwsj :

Only some annuities are paid out for a predetermined time. They can also be based on how long you live, very much like social security. Also, the amount of your social security payment is based on how much you (and your employer if you have had one) paid in to the system. It is very much an insurance program, funded by those who benefit. The problem is that gov’t didn’t take your contributions and investment to fund your retirement, instead they spent them. For all those years when current income was less than current outlays the gov’t called it a surplus and added it to the general budget, now that outlays are expected to exceed income (a problem we’ve known about for a generation) the program has been rebranded as an entitlement and a gov’t give away.

Comment on Civil Servants by joeatwsj

joeatwsj — Fri, 11 Jun 2010 22:35:51 +0000

Only some annuities are paid out for a predetermined time. They can also be based on how long you live, very much like social security. Also, the amount of your social security payment is based on how much you (and your employer if you have had one) paid in to the system. It is very much an insurance program, funded by those who benefit. The problem is that gov’t didn’t take your contributions and investment to fund your retirement, instead they spent them. For all those years when current income was less than current outlays the gov’t called it a surplus and added it to the general budget, now that outlays are expected to exceed income (a problem we’ve known about for a generation) the program has been rebranded as an entitlement and a gov’t give away.

Comment on Civil Servants by robparis

robparis — Fri, 11 Jun 2010 19:14:20 +0000

When you buy an annuity, you receive a predetermined amount of money at a predetermined time based on the initial capital and interest rate. Social Security lifetime payments however, are not dependent on contributions, but on how long you live.

Also, I’m not condemning the people on Social Security, but the program itself.

joeatwsj :

if I buy an annuity, when it comes time to collect, would you think that I am sucking on the private sector tit? If not, then why, after a lifetime of paying in, you would characterise social security recipients as such?

Boggles the mind…

Comment on Civil Servants by joeatwsj

joeatwsj — Fri, 11 Jun 2010 18:49:22 +0000

if I buy an annuity, when it comes time to collect, would you think that I am sucking on the private sector tit? If not, then why, after a lifetime of paying in, you would characterise social security recipients as such?

Boggles the mind…