Disgusted with the Biden administration

posted by Fletch

Any of you that have anything invested shouldnt be talking shit unless you can honestly post on here how you like to watch your money disappear and dont care about it.

Watching people try to explain things like economics to CC is looking like A+ entertainment right now.

Unrealized gainz!

But my house value should be going up Brandon! 

Such mindless fucking drivel. 

posted by gut
I'll just say, buckle up! for the next bear market because it's going to be bad.  Maybe not as bad as the Great Recession, but close.  It will come roaring back just like it has over the better part of 12+ years now, but if you're retired and your savings gets cut in half....

Ehh unless the market goes below 20k I'm not worrying. Then again, I'm not retiring for another 20+ years.

posted by Automatik

I suggest a financial advisor. Clearly you need help. 

He ain't need nothing from nobody.

posted by gut

The obvious irony is he's retiring off the public teat, not his savings.

posted by ernest_t_bass
Teacher's retirement is taken directly out of paychecks, and matched to a certain percentage by districts, just like many other private sector companies.  I think Fletch is an idiot, but don't make it sound like public employees are just handed money for doing nothing.  

The comparison you want to make is SS.  The maximum SS benefit (for someone who hit the cap - @ $130k today - every year for 35 years) retiring at 62 would be $2,364 per month.

The average STRS benefit in Ohio for a new retiree is almost $4k per month.  I call that difference - @ $20k per year - the "public teat".  And that's in comparison to someone making $130k per year.  An apples-to-apples comparison of someone making $60k is probably a difference more like $30k per year.

https://greenwald.substack.com/p/the-nyt-now-admits-the-biden-laptop?s=r

Best

posted by QuakerOats

https://greenwald.substack.com/p/the-nyt-now-admits-the-biden-laptop?s=r

Best

Lol. Greenwald is a hack. The king of I will go against anything US. Zero cred. 

posted by ptown_trojans_1

Lol. Greenwald is a hack. The king of I will go against anything US. Zero cred. 

I mean, Quaker is a lot, but it’s pretty much fact that Hunters laptop was proven true, since 2020. And social media completely black holed it. But you’re Ok with it bc it benefited your old senile asshat candidate. Who knows how deep it went.

posted by iclfan2

I mean, Quaker is a lot, but it’s pretty much fact that Hunters laptop was proven true, since 2020. And social media completely black holed it. But you’re Ok with it bc it benefited your old senile asshat candidate. Who knows how deep it went.

I don't know, but what I do know is anything by Greenwald is a hack piece. 

If we have learned anything over the past 5 plus years, it is grand conspiracy theories are usually overblown.

posted by gut

The comparison you want to make is SS.  The maximum SS benefit (for someone who hit the cap - @ $130k today - every year for 35 years) retiring at 62 would be $2,364 per month.

The average STRS benefit in Ohio for a new retiree is almost $4k per month.  I call that difference - @ $20k per year - the "public teat".  And that's in comparison to someone making $130k per year.  An apples-to-apples comparison of someone making $60k is probably a difference more like $30k per year.

apples to oranges isn't it?

private employees (usually) pay into both social security and a retirement account provided by the employer (401k). when they retire they can draw off of both.

a STRS employee doesn't contribute to SS at all, only STRS... so they only draw from one pot.

posted by MontyBrunswick

apples to oranges isn't it?

private employees (usually) pay into both social security and a retirement account provided by the employer (401k). when they retire they can draw off of both.

a STRS employee doesn't contribute to SS at all, only STRS... so they only draw from one pot.

That other "pot" is small, usually only 50% match up to 6% of base, which would be $3k per year for someone making $100k.  I think contributions may be up to 14% in STRS now, which would put it on par with the max SS contribution.  Except they draw nearly DOUBLE what that person does from SS.

Like I said, comparably STRS is subsidized by the taxpayer for tens of thousands of dollars per year.

posted by gut

That other "pot" is small, usually only 50% match up to 6% of base, which would be $3k per year for someone making $100k.  I think contributions may be up to 14% in STRS now, which would put it on par with the max SS contribution.  Except they draw nearly DOUBLE what that person does from SS.

Like I said, comparably STRS is subsidized by the taxpayer for tens of thousands of dollars per year.

STRS is 14% by both the employer and employee, but my point still stands...

comparing SS to STRS and calling it an apples to apples comparison is disingenuous. they're fundamentally different AND most people get two pots to pull from, even if one is "small".

The amount of take home pay they STRS employees pay compared to the SS contribution isn’t even close.  

posted by MontyBrunswick

STRS is 14% by both the employer and employee, but my point still stands...

How?!?  I laid out the math, prove me wrong.

You're just another whining teacher complaining about being underpaid, but reality shows you're actually overpaid.

posted by Fletch

The amount of take home pay they STRS employees pay compared to the SS contribution isn’t even close.  

Exactly.  That's the "sucking the gubmit teat" I referred to.

I'm shocked, absolutely shocked, you are contesting this fact.

posted by iclfan2

I mean, Quaker is a lot, but it’s pretty much fact that Hunters laptop was proven true, since 2020. And social media completely black holed it. But you’re Ok with it bc it benefited your old senile asshat candidate. Who knows how deep it went.

There are plenty of other liberal sources reporting it for moderate ptown, but of course he goes with the attack on the source. It’s impossible for him to defend, but cue the “ehhh, it’s not so bad” brush off response next.

I wonder if our fellow fans of social media censorship (Kizer) are still on board with censoring. It seems like a lot of censored “disinformation” on social media turns out to be true 6-12 months later (hunters laptop, anything regarding covid, etc).

Yes, yes I know. It’s a private company and they can do whatever they want, says the people, who fundamentally never actually believes this.

posted by gut

You're just another whining teacher complaining about being underpaid

Did not see this anywhere.  Anywhere.  Don't do that.

posted by ptown_trojans_1

Lol. Greenwald is a hack. The king of I will go against anything US. Zero cred. 

It is about the New York Times finally admitting the laptop and emails are legit.    

Get in the game.