Economy is roaring

[Anonymous]

The view from an economist who focuses on retirement and 401Ks

https://www.forbes.com/sites/teresaghilarducci/2020/01/09/trump-blames-you-for-your-subpar-401k/#651a78286a9e

In a tweet Thursday, President Trump blamed you for your 401(k) balance. Trump tweeted: “STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 401K’S DOING? 70%, 80%, 90% up? Only 50% up! What are you doing wrong?”

There are a lot of ideas packed into those 22 words and most of them are misleading (he originally tweeted 409(k)—either a fat thumb error or workers’ benefits are unfamiliar to the president). The S&P 500 is high, but not up 70%, 80% or 90% since Trump was sworn in. In fact, the S&P 500 is up 43% since Trump was elected.


But more importantly, most people don’t have significant 401(k)s or IRAs, and almost no one has their retirement savings invested entirely in stocks.
..
Isn’t Trump playing with fire by taking credit for the upside? People’s attitudes towards a pension system change rapidly when the stock market falls. The 2008 financial crisis had an enormous effect on people’s trust in the 401(k) system and 401(k) advisers.

What is Trump going to say when the stock market corrects? People 55 or older during the recession never quite recovered.

[Anonymous]

and more from the article above:

According to the Economic Policy Institute, the top 20% of prime-age households by income have 70% of 401k/IRA savings while the bottom 40% of the population hold just 11% of these retirement savings. Only 54% of households aged 32 to 61 have any type of retirement savings, racial disparities are severe: only 41% of Black families and 35% of Hispanic families have any retirement savings.

For the bare majority of workers nearing retirement who do have retirement accounts, the median retirement account balance is only $92,000. The median balance for all workers nearing retirement—including those without savings—is a paltry $15,000.



So no, the economy is not "roaring" for most people.

[Anonymous]

More evidence of the reach of this economy:

For First Time in 26 Years, All U.S. Metros Enjoyed Income Gains

https://ca.finance.yahoo.com/news/first-time-26-years-u-150735277.html

Sorry Democrats....... give it up about the economy not doing well. It sounds pathetic when you argue against the facts.

[Anonymous]

Your boy tried to off one of his Ambassadors.

Yay 401k!!!!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

You are clutching at straws ....... the economy is doing just great and the stock market is doing even better.

Enjoy it because if the Democrats win the election for president, we will see both headed south.

[Anonymous]

Anonymous wrote:Your boy tried to off one of his Ambassadors.

Yay 401k!!!!!

Priorities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

You are clutching at straws ....... the economy is doing just great and the stock market is doing even better.

Enjoy it because if the Democrats win the election for president, we will see both headed south.

Why would it head south? This is the strongest economy every known in the greatest democracy ever known. How would a Democratic president change this?

[Anonymous]

Roaring

https://www.wsj.com/articles/hedge-funds-could-make-one-potential-fed-repo-market-fix-hard-to-stomach-11578997801

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

PP was not talking about capital gains from 401Ks/IRAs, but rather from sales of shares held in taxable investments accounts held outside 401Ks and IRAs.

Withdrawals from 401Ks/IRAs are taxed at higher ordinary earned income rates. So to the extent people wish to take advantage of the gains by increasing their withdrawals in retirement, tax revenue would increase and more significantly than it would if the withdrawals came from taxable investment accounts.

We can pretty safely say there will be increased collection of capital gains taxes and taxes from 401K/IRA withdrawals but how much is unknowable as it will depend very much on how individuals choose to behave with respect to their retirement spending.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

You are clutching at straws ....... the economy is doing just great and the stock market is doing even better.

Enjoy it because if the Democrats win the election for president, we will see both headed south.

Why would it head south? This is the strongest economy every known in the greatest democracy ever known. How would a Democratic president change this?

You're joking, right?

Several candidates on stage right now are making promises that cost 30-40 TRILLIONS.

Do you understand what that means?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

You are clutching at straws ....... the economy is doing just great and the stock market is doing even better.

Enjoy it because if the Democrats win the election for president, we will see both headed south.

Why would it head south? This is the strongest economy every known in the greatest democracy ever known. How would a Democratic president change this?

You're joking, right?

Several candidates on stage right now are making promises that cost 30-40 TRILLIONS.

Do you understand what that means?

Over how many years?

-New Poster who isn't watching

[Anonymous]

Anonymous wrote:Your boy tried to off one of his Ambassadors.

Yay 401k!!!!!

+1

But you know, he could shoot someone on 5th Avenue and they wouldn't care.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The markets are generally roaring.

The "economy" in terms of real wages, household income, manufacturing and retail sectors, debt and deficit spending, debt to income ratios are all a mess.

But hey, MY 401k is awesome.

Real wages are actually increasing. Debt to gdp ratio has remained largely unchanged since Obama's days, and many economists are predicting that it'll actually decrease starting from 2019's tax receipts once capital gains and income tax revenues start rolling in. Consumer confidence is near all time highs, inflation is being controlled very well, and near record unemployment.

Economy is roaring and you can't stand it

How much capital gains taxes do you expect from all those 401k's? And isn't the capital gains rate 0% for the middle class? How will middle class stock market gains increase tax revenue?

The debt to GDP ratio has stayed the same as American economy moved from worst recession in 50 years to strongest economy if 50 years. And this is a sign of a strong economy?

You are clutching at straws ....... the economy is doing just great and the stock market is doing even better.

Enjoy it because if the Democrats win the election for president, we will see both headed south.

Why would it head south? This is the strongest economy every known in the greatest democracy ever known. How would a Democratic president change this?

You're joking, right?

Several candidates on stage right now are making promises that cost 30-40 TRILLIONS.

Do you understand what that means?

Get with the program. The deficit doesn't matter any more. That is what Trumpskies have been telling us over the duration of his presidency as the deficit roars. We got the message loud and clear: You.don't.care.about.the.deficit.

So stop being a hypocrite.

[Anonymous]

Since the economy is roaring it's time to raise the minimum wage.

In 1968 the minimum wage was worth $22 in today's wages.