Jul 10th, 2007
As much as possible I try to keep politics out of this blog because for the most part I try to reach out to every audience. I think everyone has a right to be informed financial matters, and for the most part politics have nothing to do with it. However once in a while, something comes up that absolutely frightening. Something that has the ability to absolutely destroy our financial freedom in this country, to destroy any hope you have of retirement. Here is a quote from Nancy Pelosi:
When questioned about recent stock market highs she responded “Only the rich benefit from these record highs. Working Americans, welfare recipients, the unemployed and minorities are not sharing in these obscene record highs”.
“There is no question these windfall profits and income created by the Bush administration need to be taxed at 100% rate and those dollars redistributed to the poor and working class”.
And that my friends, is one of the scariest quotes I have ever seen from someone in a position of power in the United States. Social Security WILL run out before most of us retire. In fact, it will be, by definition, bankrupt by the year 2042. What does that leave us with? Our Roth IRAs and 401ks. For anyone currently under the age of 60, we are at least partially banking on our retirement savings growing in the stock market. Even if you don’t care at all about politics, at least pay attention to this because this has the potential to ruin your retirement. It doesn’t matter what party is trying dig into your pockets, this is something to fight back on.
You and I, as a working americans, DO share in these record highs.