http://blog.ourfuture.org/20121217/progressive-breakfast-224?utm_source=rss&utm_medium=rss&utm_campaign=progressive-breakfast-224 Daily news and strategy from a progressive point of view. Tue, 04 Jun 2013 04:01:49 +0000 hourly 1 http://wordpress.org/?v=3.6-alpha http://blog.ourfuture.org/20121217/progressive-breakfast-224#comment-13318 Bonnie Owens Mon, 17 Dec 2012 16:32:43 +0000 http://blog.ourfuture.org/?p=78811#comment-13318 No one has said anything about the good/bad financial tsunami coming in 2016. At that time, the first wave of Boomers will turn 70 1/2; per ERISA, they will be forced to begin withdrawing from their tax-deferred accounts & paying income tax on the withdrawals. For 10-12 years after that, the numbers will increase by millions. Good-the government will have a large source of new taxes without doing a thing; bad – the withdrawals will be from mutual funds, stocks, & bonds. The markets will relentlessly drop because there will be more sellers than buyers. By 2026, the DOW should be down to about 5-6000.

]]> http://blog.ourfuture.org/20121217/progressive-breakfast-224#comment-13280 DHFabian Mon, 17 Dec 2012 14:54:43 +0000 http://blog.ourfuture.org/?p=78811#comment-13280 On “changing the formula,” we’ve already seen a number of COLA freezes in recent years on Social Security Disability, which have served to push people further and further behind. On the overall budget: We were told for years that it was welfare that was “breaking the budget,” “bringing taxpayers to their knees.” First, govt cut General Assistance welfare down to zero, and then reformed AFDC right out of existence. Wiping out welfare, however, appears to have made no difference to our budget. Every penny cut from spending on the nation’s needs is merely funneled directly into covering the costs of taxes owed by the rich (we pay so they don’t have to) while maintaining extreme military spending.

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