401Ks...

[ironglowz]

  Stocks and 401 Ks looking much better since Pres Trump has been in office again.

  Received statement yesterday, mine have already recovered the losses generated by the Biden mismanagement..

[NWBear]

That’s odd…. The Dow in Dec 2020 was 30606 in Dec 2024 it was 42544, almost 50% higher.  Might be time for a new broker!!!  Just kidding

[ironglowz]

That’s odd…. The Dow in Dec 2020 was 30606 in Dec 2024 it was 42544, almost 50% higher.  Might be time for a new broker!!!  Just kidding

   The explanation as I see it, is not the stock market totals per se, but who is reaping the benefit of those totals.

   My 401K has weathered some setbacks.. the high tech crash, the dot com bubble (about 2000), the banking crisis (about 2008) when Obama bailed out GM and the banks and left small investors to take the hit.

  In both cases honest Joe Public took the hit...and the rich got richer..  No reason to suspect the fiasco Biden put us through, happened any other way..

   Certainly the Bidens and other deep staters did OK !

[Dixie-Dude]

Mine has jumped up also.  Big help for the long term.  They found out the tariffs aren't causing inflation they thought it would but are actually bringing in more tax revenue than expected.  Now, to get rid of income tax.  In the 1800's the federal government was all financed by tariffs.  There was no income tax or sales tax.  States and local governments used property tax. 

[GTS225]

Now, to get rid of income tax.  In the 1800's the federal government was all financed by tariffs.  There was no income tax or sales tax.  States and local governments used property tax.

I will concede the truth to this, but.........
Does anybody REALLY believe that our federal government could be sustained by tariffs alone?  I suspect that, even with SERIOUS belt-tightening, the budget for our military alone would be far more than could be raised through tariffs.

So.....I can hardly believe we'd be honestly able to eliminate income taxes.

Just my thoughts.....Roger

[ironglowz]

Now, to get rid of income tax.  In the 1800's the federal government was all financed by tariffs.  There was no income tax or sales tax.  States and local governments used property tax.

I will concede the truth to this, but.........
Does anybody REALLY believe that our federal government could be sustained by tariffs alone?  I suspect that, even with SERIOUS belt-tightening, the budget for our military alone would be far more than could be raised through tariffs.

So.....I can hardly believe we'd be honestly able to eliminate income taxes.

Just my thoughts.....Roger

   It would seem that if we were to continue the huge "safety net" for the unproductive in our society, along with a powerful enough military to maintain  what in
   actuality is, our world hegemony, it would be almost impossible to maintain on tariffs alone.

[GTS225]

   It would seem that if we were to continue the huge "safety net" for the unproductive in our society,

This is one of the first things that would get some SERIOUS belt-tightening.  (SERIOUS, as in big, capital letters three feet tall serious.)  While social programs are a good safety net for the truly needy, that entire system had fallen to greed and corruption, and needs badly to be cleaned up.  One of the qualities that makes America great is our capacity to be generous toward those that really need help, so to eliminate such would hurt all of us on a large scale.

Just more thoughts.....Roger