Old BS is quickly becoming irrelevant in the upcoming election (but not in his ability to affect the thinking of millions of Americans) so I don’t know why it bothers me when he uses Twitter for his less than rational sound bites, but it does.
Here is a recent example. Nothing he says seems to consider any consequences and is completely lacking consideration for personal responsibility.
For example, with fewer working Americans to support the older generation, who will pay for this additional funding? This is a problem for Social Security as it is let alone with added benefits.
More than half of our older workers have no retirement savings? Yes, it is absurd. Actually, it’s not true. About 29% of age 55 and older Americans have no retirement savings. 50% of ALL Americans have no retirement savings. Whose fault is that? Before you assume they can’t save, better check what they do have in terms of stuff and how they spend their money. Save a modest $50 a month (taken from spending you don’t need) and you will have $100,000 by the time you are ready to retire. On the other hand, Sanders is hardly a shining example of saving and investing – but will rely mostly on a taxpayer-funded pension.
Exactly how much is government and its tax paying citizens supposed to do for others who are irresponsible (I’m not talking about those truly in need and who must receive temporary assistance from society)?
QUINNSCOMMENTARY 
Is the lack of saving for retirement and increasing dependency on Social Security as a pension due to financial irresponsibility or due to financial illiteracy?
LikeLike
Both, a lot of both. However, in the vast majority of cases it is NOT because of the inability to save.
LikeLiked by 1 person
In your example of $600 per year growing to $100,000, that is not going to help much. In another 45 years of price inflation the first $600 saved had the buying power of $3,555. The total $100,000 will only have the buying power of $17,000 today. Also, if inflation rates increase and investment yield stays the same, you might still be on government assistance. I feel at some point in the not to distant future the world economy will collapse and we can start over with minimum wage at 50 cents, and all prices adjusted down to what they were in 1941. Time for an economic reset. At least then the interest paid on a house or car will be a lot less. Government debt could go to 1 Trillion. Also, the so called rich would not be as much of a scapegoat as old BS would like you to believe.
LikeLike