Quote:
Originally Posted by Rick Lee
Do I really need to explain? You're suggesting that soc. sec. is both justified and necessary because, left to their own devices, Americans are too stupid to handle retirement planning. Do you think the fed. gov't. has done a better job than the dumbest American could do? I don't.
Why doesn't the gov't. have to pass a competency test? It's my money to begin with! You think I should have to prove to you or someone else that I can manage it better in order for it to not be stolen? Unreal.
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You are wrong on the first part and reality bears that out. You will see that clearly when Matt puts together the reconciliation. So yes, 80% of Americans would do worse than the government given knowledge, sophistication, time and desire constraints. In this number is people who just don't want to manage their lifetime investment portfolio's. I haven't even included graft and corruption in this percentage, which is a guarantee.
You are wrong here again. yes, you have to pass a test, because as I said, the alternative will cost the taxpayers more than just leaving it alone. We only need to look at the housing crisis bailout to support this thesis. The average American is not qualified to manage a lifetime portfolio. If you are, my plan takes care of you.