Slimebeast said:
lol It's about the difference between a small state and a big state. I am for the state taking care of people's basic needs if they are sick or disabled, or get in trouble, like accidents and stuff. And I'm not against universal healthcare (not that u said I was, but Kasz implied it). I don't think I've ever written anything to suggest that I am against basic universal healthcare. In Sweden elder pensions are mandatory. A part of your income tax goes directly into the pension fund. That will secure a quite decent pension, especially if you actually work your whole lifetime. Some people want to invest additional money though privately to increase their future pension. It has lately become popular because the interest in those funds are free of tax (I think). I thought you had the same system in the US! |
In the US, we have 2 'systems' of retirement:
1. Social Security. It is a government-mandated program that almost everyone except for self-employed and government workers contribute to. It features atrocious returns (usually barely above inflation), and is in peril, as it is a pay-as-you-go system, meaning that the money I've contributed isn't mine - its given to someone else's payments.
2. 401Ks. These were instituted by Ronald Reagan as a means as an auxiliary way to build up a pension. These are tax-free, and can be invested in whatever for fantastic returns. They aren't perfect (as you still have to put cash into social security ontop of the 401k), but they are much better than nothing.
So we do have a similar system through 401k's and IRAs...I have an IRA I invest in as well as my craptacular social security.
Back from the dead, I'm afraid.