Obama promotes retirement savings plan on State of Union road trip

Comments (103)
onebythesea wrote:

Weak. If you have ever had to work for a boss that you knew more than they did… you know what I mean. If you have been a follower that has been tricked twice (shame on you) you may have not clue. the “results” of the policies after 8 years of this administration will leave our country weaker as well. But I believe that with our youth rejecting “his way” we will all be free again, at last.

Jan 29, 2014 8:10am EST  --  Report as abuse
onebythesea wrote:

Weak. If you have ever had to work for a boss that you knew more than they did… you know what I mean. If you have been a follower that has been tricked twice (shame on you) you may have not clue. the “results” of the policies after 8 years of this administration will leave our country weaker as well. But I believe that with our youth rejecting “his way” we will all be free again, at last.

Jan 29, 2014 8:10am EST  --  Report as abuse

Messing with minimum wage is a foolish idea, but then what would you expect from Obama.
To raise minimum wage is inflationary, it drives the prices up to cover the new added costs.
The only way for for many people to earn more is to work more, the way away from that is to learn new skills to earn more or improve productivity.
Many people at the bottom end of the wadge scale must be retrained on the daily basis.
Many have no work habits no personal drive, no people skills, no self respect, and no respect for others.
To mess with minimum wage will affect every person on a fixed income
like Social Security and Disability, those payments only went up by 1.5 % this year and some years no increase at all. This will be massive increases in Welfare costs, and that drives the taxes higher.
Simple minded people can not see beyond the tip of their own nose,
Progressive Caucus and Democrats, that like to Give what is not theirs to the uneducated and the lazy is destroying this Nation.

Jan 29, 2014 8:14am EST  --  Report as abuse
FreeTEXAN wrote:

Check out the TEXAS NATIONALIST MOVEMENT TEXAS!!!! FREE TEXAS!!! DIVORCE AMERICA!!

Jan 29, 2014 8:57am EST  --  Report as abuse
tony4 wrote:

Who runs the country (not that he ever has) when he is out spending taxpayer money to sell his socialist and failed policies? This is a man who only knows how to campaign…nothing about leadership or management. He is using taxpayer money to achieve some sort of “win” to save a failed legacy. Too late.

Jan 29, 2014 9:05am EST  --  Report as abuse
tony4 wrote:

Who runs the country (not that he ever has) when he is out spending taxpayer money to sell his socialist and failed policies? This is a man who only knows how to campaign…nothing about leadership or management. He is using taxpayer money to achieve some sort of “win” to save a failed legacy. Too late.

Jan 29, 2014 9:05am EST  --  Report as abuse
tony4 wrote:

Who runs the country (not that he ever has) when he is out spending taxpayer money to sell his socialist and failed policies? This is a man who only knows how to campaign…nothing about leadership or management. He is using taxpayer money to achieve some sort of “win” to save a failed legacy. Too late.

Jan 29, 2014 9:05am EST  --  Report as abuse
tony4 wrote:

Who runs the country (not that he ever has) when he is out spending taxpayer money to sell his socialist and failed policies? This is a man who only knows how to campaign…nothing about leadership or management. He is using taxpayer money to achieve some sort of “win” to save a failed legacy. Too late.

Jan 29, 2014 9:05am EST  --  Report as abuse
unionwv wrote:

Hitting the road (again), 4 locations, four speeches: Ho hum, ho hum ho hum and ho hum .

Jan 29, 2014 9:14am EST  --  Report as abuse
Jzhou wrote:

To help middle class? give me a break, this President is a true believer on Karl Marx’s wealth distribution (other people’s money, not his), if any American still have a sense reality, they should look today’s China, east European countries vs. 20 years under communist party ruled wealth distribution – ordinary citizen struggle daily on basic, basic food, there were never enough mile, butter, bread go around, people had no freedom, in the winter, there were not enough heat…tens thousand, not million people dead from starvation…

unfortunately, most of American won’t learn lesson from history, they will vote for anyone politicians offer them “free” benefits, free health insurance, food stamps, free cell phone, more financial aid to college, longer and longer unemployment benefits, more illegal immigrants… as long as not their money, free is good… politicians on both political parties knew it, they knew how to master their winning strategy based on people greedy and stupidity.

Jan 29, 2014 9:49am EST  --  Report as abuse
gcf1965 wrote:

So true Vincent. How can you justify giving the elderly a meager COLA if any at all, then turn around and give the unmotivated, lazy, and high school kids a nearly 40% raise? I gues he knows where the voters come from and buying votes is what he is all about. He is the most foul and disgusting lump of wasted flesh on the planet.

Jan 29, 2014 10:04am EST  --  Report as abuse
Pops4242 wrote:

it the government wants me to save for my retirement. put a system in place to cover long term (in-house) care for adults (no longer on parents health care coverage) with mental problems (bipolar, depression, etc…). after your kids turn 26, they drop off the face of the earth with health care. all my retirement money is gone trying to keep him from being a danger to himself or family.

Jan 29, 2014 10:08am EST  --  Report as abuse
Pops4242 wrote:

it the government wants me to save for my retirement. put a system in place to cover long term (in-house) care for adults (no longer on parents health care coverage) with mental problems (bipolar, depression, etc…). after your kids turn 26, they drop off the face of the earth with health care. all my retirement money is gone trying to keep him from being a danger to himself or family.

Jan 29, 2014 10:08am EST  --  Report as abuse
Mylena wrote:

I think better than fight minimum wages why do not create a way for all States that works like rent control. In this way the landlords could no charge for a bedroom 1500.- it is a shame. And nobody seems to care. Control of owners that are becoming richa and more rich every day because poor people pay their mortgages!!!!!!

Jan 29, 2014 10:15am EST  --  Report as abuse

How could anyone in their right mind believe anything this man has to say? He has done nothing but lie to us for the past five years so what makes anyone think the next three will be any different. He is a disgrace to the Office and the Country. He makes us look ignorant and weak to the rest of the World!!!

Jan 29, 2014 10:15am EST  --  Report as abuse
RonTx wrote:

Hey, you want to earn more money…get another job. you want to put away money for retirement…get rid of the cell phones, cable, flat sceen TV’s…are you getting it yet?

There are reasons why people can be poor….they know less and therefore will have lower paying jobs, can do less so will perform less physically demanding jobs or have no motivation what so ever. If any of these can be changed, then a person can improve their situation.

Jan 29, 2014 10:17am EST  --  Report as abuse
4825 wrote:

Last month more americans quit looking for work than those that found it. Looks like the president wants to keep that trend going by pushing for increased minimum wage. Everytime the minimum wage increases there will be some forced out of the job market, especially when unemployment is as high as it is now. Does not take a rocket scientist to know this so you have to question his motivation.

Jan 29, 2014 10:19am EST  --  Report as abuse
TravisFrazier wrote:

VincentLawrence, Thats wrong. Productivity is up. These scumbag companies are purposely keeping wages low so that their own profits increase. Its greed and its the reason why the wealth gap keeps growing.

Jan 29, 2014 10:30am EST  --  Report as abuse
hawkeye19 wrote:

I wish your headline was only the first four words: “Obama Hits The Road”. Then he could vacate the White House and go bleed millions from liberals who swallow his every word.

Jan 29, 2014 10:43am EST  --  Report as abuse
diluded0000 wrote:

Why would we raise the minimum wage when the corporations that buy elections can get low cost workers subsidized by my tax dollars? I’m not saying some teenager needs a raise, but if someone is over 21, and works full time, I shouldn’t have to help pay for their kids food and Medicaid. The companies these workers are making rich should be paying them enough to cover all that, or they shouldn’t be doing business in the US. Somebody is gaming the system, but it isn’t the people that get up and go to work every day.

Y’all need to stop falling for thinking that what is good for a bunch of billionaires is good for you and me. You are getting scammed.

Jan 29, 2014 11:10am EST  --  Report as abuse

Boy, look at all the Cheap Labor Conservatives getting bent out of shape of someone suggested paying the bottom class appropriately. They can espouse a bunch of pre-packaged rhetoric straight from Faux News about how harmful it’s going to be (to the 1%) but they can’t argue with the simple fact that the minimum wage has for decades failed to keep up with inflation.

In the 70′s, people could make a decent living off of minimum wage; not anymore. Today, someone working full-time making minimum wage is still living in poverty – that’s a slave wage. It’s no wonder that their political philosophy is inherited from 19th century plantation owners. Coincidentally, this is the same philosophy that outsources American manufacturing jobs to third-world sweatshops. And that’s exactly they’d create in America if we let them; don’t forget, they’re opposed the very concept of a minimum wage to begin with (they’d get rid of unions and workers right’s, too, if they weren’t stopped).

So don’t forget, these republicans are nothing but Cheap Labor Conservatives who would turn America into a third-world sweatshop-based economy if they could get away with it, and then take off in their private jets to their luxury retreats the moment things turn sour. You just can’t trust them.

Jan 29, 2014 11:14am EST  --  Report as abuse
4825 wrote:

USofRationality- Question for you. How much would you would raise the minimum wage if you were all of a sudden the guy in charge of a number; should it be $10, $20, $30, $40, $50 or more per hour? Not a trick question, just curious what you think and why you believe your number to be “the number”. Do you see only positive effects from going to your number and, if not, what would you see as the negative effects?

Jan 29, 2014 11:45am EST  --  Report as abuse
BurbankBurner wrote:

Instead of these childish photo ops, why not embrace free enterprise capitalism and allow the US economy to generate wealth creation and prosperity? Oh, I forgot, our banana republic style dictator is a Marxist redistributionist. The attack on success continues.

Jan 29, 2014 11:45am EST  --  Report as abuse
DbPolk wrote:

Are those opposed to ANY minimum wage laws? Or pesky industrial regulations? THAT is truly ignorant.

Jan 29, 2014 11:52am EST  --  Report as abuse
SaveRMiddle wrote:

Obama is the most deceptive leader this nation has ever experienced. That he “Unveils” is never quite what it seems and most often, DOA…offered merely for the headline it provides.

Government contractors who aren’t paying their employees at least $10.10 will simply obtain inflated taxpayer funded bids and their employees will often then qualify for less in food stamp assistance.

This is a leader asking us to pretend he offers a solution to reverse growing inequality? Because it was presented as Grandiose, half of America doesn’t even understand this is only for New contracts and will affect so few, it’s another big fat zero.

Jan 29, 2014 11:53am EST  --  Report as abuse
stambo2001 wrote:

People need to read the small print, this minimum wage increase is for government contract workers only which amount to less than 500 000 people. It’s a tiny amount of people spun, with media complicity, into some huge social change to make Obama look like he’s actually doing something. It’s not and he’s not. Complete and utter fluff.

Jan 29, 2014 11:55am EST  --  Report as abuse
SaveRMiddle wrote:

@USofRationality…..Obama is presently working on the most magnificent “free” trade agreement ever. TPP will permanently destroy even more living wage jobs.

His agenda turns out to be the same as Mitt’s.

Main Street has been deceived by an inspirational speaker.

Jan 29, 2014 12:01pm EST  --  Report as abuse
gcf1965 wrote:

US, you seem to think that minimum wage jobs are intended as living wage jobs, and they are NOT! There is not a single minimum wage job out there that requires more than being able to breath with your mouth closed. I simply do not understand how anyone can advocate that shelf stockers and burger flippers and sign twirlers, etc. should be provided with a wage sufficient to be self-supporting. It was only a few years ago that it was understood that minimum wage was intended for teens/first job holders, moonlighters, and as a part-time job to provide EXTRA money for a family/household. I, and reasonable people, understand that higher pay should be provided to higher skill sets, higher education, and greater value added. And seeing today’s set of minimum wage slackers (generalization), I think it is absolutely fine that minimum wage has not kept up with inflation, because the majority of those low wage workers today have little if any work ethic or pride in a job well done.

Jan 29, 2014 12:03pm EST  --  Report as abuse

The minimum wage wouldn’t be an issue if it weren’t for the sleight-of-hand tricks with manipulating our currency that got us into this mess.

The $7 Trillion in off-the-books loans to major financial institutions from the Federal Reserve weakened our currency significantly. The media commonly reports that as “Inflation,” but in actuality it is currency dilution.

Which is why immigration reform is also an issue. Our whole monetary system is essentially a giant Ponzi scheme. The “Original Investors” (Major European banking families) have long since cashed out, and the 2nd tier investors, what are referred to as the “1%” are cashing out, now. The only way to keep the scheme afloat now is a massive new influx of suckers at the bottom tier. Thus the need for massive immigration.

There is no way out that is not painful, now, but that doesn’t mean we need to still keep making it worse. Time to overhaul our entire economic system. Return currency control to the government, and minimize, marginalize, and finally eliminate the Federal Reserve.

Of course, Kennedy tried to do that (United States Notes). They shut him down pretty hard for that one. LBJ terminated the United States Notes program as his first act as President. I don’t believe he was complicit in the assassination, but I do believe he got the memo from it.

Jan 29, 2014 12:06pm EST  --  Report as abuse
Rich_F wrote:

obama wants the minimum wage raised for the nation. that discussion is still ongoing. for now using executive fiat he can raise it for federal workers. what needs to be pointed out is the raise doesn’t happen in a vacuum. other wages will increase proportionally to keep the relationships in check. a guy that’s working hard and gets a raise from minimum to $10 is now going to expect a commensurate increase now that someone less qualified/motivated is making the same as his. actions cause reactions. this will raise wage prices across the board and given obama’s utter ineptitude to understand anything economic he thinks those that pay the wages will just take less for themselves and everyone’s happy. not.

Jan 29, 2014 12:08pm EST  --  Report as abuse

oh mr lawrence. the ignorant dribble you wrote made my morning. comedy. gold.

Jan 29, 2014 12:09pm EST  --  Report as abuse
SoutherRican wrote:

Sounds like the President is all by himself, as if he has no friends or Democrats on his side. He is also starting to sound like Sara Palin, when she said she was going Rouge. Notice that at the U.S. Steel plant, he said nothing about protecting American Jobs.

Jan 29, 2014 12:10pm EST  --  Report as abuse
disenwit wrote:

So, run around championing minimum wages for the middle class, while spending huge amounts of the taxes you’ll take from them when they get it.. .makes a lot of sense!

Jan 29, 2014 12:11pm EST  --  Report as abuse
disenwit wrote:

So, run around championing minimum wages for the middle class, while spending huge amounts of the taxes you’ll take from them when they get it.. .makes a lot of sense!

Jan 29, 2014 12:11pm EST  --  Report as abuse
Ozstickman wrote:

The mistake progressives have always made is focusing on the problem not the solution. They mistakenly believe that forcing wealth transfers from richer citizens to poorer citizens will redress inequality of incomes, when in fact what it does is stagnate economic growth and make all citizens poorer. A growing economy allows all citizens to increase their incomes. Since Obama took office income disparity has grown, and median incomes have shrunk by almost $4k. Increasing the minimum wage reduces the number of entry level jobs available, and minimum wage increases flow through as increases to all wages levels, which means without economic growth employers will reduce jobs available at all levels. The US operates best as a market economy where individuals and firms risk capital and invest to expand their businesses. The current climate of regulations, health care uncertainty, demonizing business holds growth back. Progressives are about power for the permanent political class, not about empowering folks to take care of themselves so they have no need for useless government programs.

Jan 29, 2014 12:11pm EST  --  Report as abuse
Ozstickman wrote:

The mistake progressives have always made is focusing on the problem not the solution. They mistakenly believe that forcing wealth transfers from richer citizens to poorer citizens will redress inequality of incomes, when in fact what it does is stagnate economic growth and make all citizens poorer. A growing economy allows all citizens to increase their incomes. Since Obama took office income disparity has grown, and median incomes have shrunk by almost $4k. Increasing the minimum wage reduces the number of entry level jobs available, and minimum wage increases flow through as increases to all wages levels, which means without economic growth employers will reduce jobs available at all levels. The US operates best as a market economy where individuals and firms risk capital and invest to expand their businesses. The current climate of regulations, health care uncertainty, demonizing business holds growth back. Progressives are about power for the permanent political class, not about empowering folks to take care of themselves so they have no need for useless government programs.

Jan 29, 2014 12:11pm EST  --  Report as abuse
disenwit wrote:

Raise the minimum wage, and the fast food joints put a simple menu Ipad thing up so you select your own, and fire the 2 or 3 kids that used to work there during high school vacations etc. And the unwed Mom’s with 4 kids that they don’t know how they happened. And then you will have to give all the folks whose jobs you took away, more unemployment money to teach them how not to work and still benefit. This is the community organizer way of creating dependency on him! Simple as that!

Jan 29, 2014 12:14pm EST  --  Report as abuse
cbmfj wrote:

The idea that those who are the working poor (above the individual $11,720 yearly poverty line and well bellow 50% of median income of $51,000) don’t work hard is simply showing how ignorant some of you are.
Also, you should count yourselves lucky that all those poor people DON’T get educated out of poverty . . . you may not stand the competition in the job market.

Jan 29, 2014 12:16pm EST  --  Report as abuse
Dd1075bBB wrote:

The way to negotiate a minimum wage deal is to meet with lawmakers, not the public. A smart guy would meet with them for lunch or dinner then discuss the ways to get it done including ways to reduce corporate taxes to allow companies the ability to pay higher wages. Corporations are responsible to shareholders, not the Federal Government. This Jerk In Chief never studied business.

Jan 29, 2014 12:19pm EST  --  Report as abuse

Instead of raising the minimum wage, government should provide resources for better education and job training so they don’t have to work minimum wage jobs. Help people better themselves, not stay in the “entry-level” positions that drags them into a viscous cycle. Raise the starting pay of those “entry level” positions and you price businesses out of the market

Jan 29, 2014 12:30pm EST  --  Report as abuse
ARJTurgot2 wrote:

He has no choice. He’s not going to get anything done in DC, Michele is still pissed about the selfie stuff with the Danish PM, and all the other world leaders are too busy taking Angry Birds off their iPhones to return his call.

Jan 29, 2014 12:41pm EST  --  Report as abuse
4825 wrote:

Dd1075bBB- That would not go with the liberal motto of “Divide and Conquer”. Would not serve his purpose.

Jan 29, 2014 12:54pm EST  --  Report as abuse
NEWAGER wrote:

Does Obama really think an inexperienced 16-year-old burger flipper is worth $10.00 an hour?

Jan 29, 2014 1:05pm EST  --  Report as abuse
AlkalineState wrote:

When low-income workers have more money to spend, that money goes back into the economy. It’s not rocket science.

Jan 29, 2014 1:09pm EST  --  Report as abuse

4825 wrote:
“Question for you. How much would you would raise the minimum wage”

I think somewhere between $10 and $12 is appropriate. The benefits are obvious: put more money into the pockets of the poorest in society, and that money goes straight back into the economy for things like food, shelter, energy, transportation, etc – the point is, the money will be spent immediately on basic life necessities, rather then being hoarded. Give that same amount to wealthiest people in society, and they won’t spend it because they can already afford all of their basic needs. Money sitting in a (possibly offshore) bank account does nobody any good, except for the bank holding on to it.

It’s simple economics: the more money there is circulating through the economy, the better off EVERYONE is, including the executives who feel they are being “robbed” because they’re being forced to pay the people who make their company possible a decent living wage.

I’m sure you know the term “positive feedback cycle”. More money going to people at the bottom, and they will spending on basic needs, which means more profits for people at top, thereby allowing them to pay everyone in the company more money, which results in even more money being spent, thus continuing the cycle.

Compared to the opposite, where those at the bottom are being starved of income, not able to afford things which means there’s less money in the economy, businesses can’t afford to keep as many employees, more people fall into poverty and the government ends up having to pay for more and more people on welfare. Can’t you see that that is exactly what is happening right now?

Reagan had it backwards; prosperity starts at the bottom and is magnified to the top. It doesn’t start at the top and “trickle down” to the rest of us. Just take a look around – trickle down economics has failed miserably, we are living in the result.

Jan 29, 2014 1:11pm EST  --  Report as abuse
Speaker2 wrote:

Silly tea party folks as always showing off your only source of information is faux news.

A majority of people earning minimum wages are adults, not teenagers. Most hold more than one job. A large percentage of these are working single mothers.

Had the minimum wager kept up with inflation, the minimum wage would be closer to 20-dollars an hour.

What you guys are worried your quarter pounder will go up 10-cents? if McDonald’s paid their employees a 15-dollar a hour minimum?

I bet none of you guys have ever made a payroll, so you are pretty clueless about capitalism and free markets.

Jan 29, 2014 1:17pm EST  --  Report as abuse

gcf1965 wrote:
“US, you seem to think that minimum wage jobs are intended as living wage jobs, and they are NOT!”

Yes, yes they are. Minimum wage USED to be a living wage, as in, people could make a living off of it. Not anymore. If you’re working full-time at a minimum wage job, you are below the poverty line. That’s ridiculous. This is America; we’re the richest nation on Earth. A person who is already working full time should not be forced to go find a second job, working 60-80 hrs per week, just to avoid living in poverty.

By allowing companies like McDonalds and Walmart to pay their employees minimum wage, we’re allowing the executives to take home 7 or 8 figure salaries and bonuses while the people at the bottom live in poverty, which forces the government to subsidize the rest of their income. You hate welfare, don’t you? Well let’s pay people on welfare a little more so they can get OFF of welfare. Duh.

I understand why the 1% supports these policies, but I can’t understand how the rest got tricked into being such fierce defenders of corporate interests. I’m sure it’s in part due to fantasies of reaching the top, but do you think the 1% is going to welcome us peasants into their ranks with open arms? I don’t think so. For every hard working success story out there, there’s a dozen more who worked their asses off for the American dream and still died poor.

Jan 29, 2014 1:28pm EST  --  Report as abuse

Dd1075bBB wrote:
“The way to negotiate a minimum wage deal is to meet with lawmakers, not the public.”

If you hadn’t noticed, congress isn’t really interested in doing ANYTHING that Obama wants to do, even if the idea was originally theirs (see “Obamacare”). Or anything at all really. They’re content just to sit around, collects their paychecks (courtesy of the US taxpayer), and every once in a while, hold a meaningless vote to repeal a law that has ZERO chance of being repealed.

The only way to accomplish anything legislatively is to get the public to put pressure on their representatives to go along with the plan. It took him 4 or 5 years, but he’s finally learned that “playing nice” isn’t going to work with these clowns.

Jan 29, 2014 1:36pm EST  --  Report as abuse
Whatsgoingon wrote:

@USofRationality don’t know if I am the only one who sees it differently. If I run a small business breaking even with 10 people, a 20% increase in labor cost will present me the following choices
1) Let go two of my employees
2) File BK
3) Raise price by 20%
Did I miss anything? How would any of the above help the economy, people with jobs and without?

Jan 29, 2014 1:37pm EST  --  Report as abuse

SaveRMiddle wrote:
“@USofRationality…..Obama is presently working on the most magnificent “free” trade agreement ever. TPP will permanently destroy even more living wage jobs.”

Yes, I agree with you entirely on that. Ironically, the TPP is one of the few things that has bipartisan support in congress. Go figure. I am glad, however, that Americans on both sides are well aware of this snake-in-the-grass corporatism treaty. Hopefully we can work together to stop it without getting distracted by name-calling. But the corporate elite are pretty good at figuring out how to distract us with petty partisan bickering. Keep your eyes on the ball…

“His agenda turns out to be the same as Mitt’s.”

Yeah, I know. Not much of a “radical liberal” then, is he?

Jan 29, 2014 1:42pm EST  --  Report as abuse
brotherkenny4 wrote:

Raising the minimum wage is a good idea since it will get more money circulating. Those that don’t agree, please move to Texas. Please, please, please move Texas, we don’t want you any more. Please, please, please move to Texas where the GOP are who ers. Please move to Texas and give us all a brake, please move to Texas were you can take and take and take.

Jan 29, 2014 1:42pm EST  --  Report as abuse
Overcast451 wrote:

“narrowing the gap between the rich and poor”

The rich always like to claim just that. Obama is not on the ‘poor’ side, by any means.

It’s like any other job – where they keep promising training, promotions, raises – just to keep you dumb and working – there is no real intent to fulfill the promises; just hollow ones to keep the ‘morale’ from totally tanking.

Jan 29, 2014 1:50pm EST  --  Report as abuse
4825 wrote:

@USofRationality- If $10 to $12 is good, why would you stop there? Why not $20, $30 or $40 or even more? I am curious why you would stop at $10 to $12 since you believe more at the bottom helps all? Is there a point that is bad and if so where would it be? Not trying to trip you up, just trying to understand your logic.

Jan 29, 2014 1:53pm EST  --  Report as abuse
Speaker2 wrote:

Whatsgoingon wrote: )a 20% increase in labor cost will present me the following choices
1) Let go two of my employees
2) File BK
3) Raise price by 20%
Did I miss anything?

Ah yes, a classic case of someone who never ran a business. Labor only represents a percentage of your overall product cost. A 20% increase in wages does not equate a 20% increase in selling price, unless all you provide is labor.

You raise prices and the increase will be a percentage of your labor cost. All things being equal, your competitors are raising prices.

Yes, you do have a choice to reduce employment, or you could find a way to make your products more effectively, either production equipment upgrades, change materials or like most of us capitalist, go back and beat up our supplier prices.

Jan 29, 2014 1:57pm EST  --  Report as abuse
4825 wrote:

brotherkenny4- It is “break” not “brake”. By the way, I disagree with indiscriminately raising the minimum wage as a means to just get more money circulating. I suspect some of the folks you are pushing to move to Texas would like to see you move to Europe. Not me though, I like having folks like you around to have intelligent discussions with.

Jan 29, 2014 2:01pm EST  --  Report as abuse
Whatsgoingon wrote:

@brotherkenny4 could you explain how increase of minimum wage would get more money circulating? Where does the money come from?

Jan 29, 2014 2:01pm EST  --  Report as abuse
Whatsgoingon wrote:

@Speaker2 how do you know labor isn’t 100% of my business? Could you answer my other question: How would any of these outcomes help the economy, people with or without jobs?

Jan 29, 2014 2:09pm EST  --  Report as abuse
mjftw wrote:

God, I hope the minimum wage is raised. I have a masters degree that I achieved while working full-time at just over $11/hour and maintaining a 4.0 GPA. Nothing has changed since graduation. Opportunities are so limited despite my doing everything right, and I struggle immensely with bills. Minimum wage wasn’t that long ago for me, and neither is food or shelter insecurities.

Jan 29, 2014 2:09pm EST  --  Report as abuse
Lbankman wrote:

well…say good by to the $1 Value Menu. Say hello to the $5 Value Menu. Where does obama think the cost of the wage increase is going to come from? lol the companies aren’t going to absorb it. its going to be passed on to the consumer. if they can’t pass it on to the customer, they will find more ways to be efficient…do more with less.

Jan 29, 2014 2:11pm EST  --  Report as abuse

4825 wrote:
“@USofRationality- If $10 to $12 is good, why would you stop there? Why not $20, $30 or $40 or even more? I am curious”

Because it’s a balancing act.

But no, you are not curious – you are taking a logical argument to absurd extremes in an attempt to discredit it altogether, rather than using reason to provide an equally valid counter-argument.

This, along with the fact that you ignored everything else that I wrote in my reply, demonstrates that your “think tank” is on Empty, and you have nothing left. Good day.

Jan 29, 2014 2:16pm EST  --  Report as abuse
4825 wrote:

@speaker2- All things are never equal in business. Surely you as a businessman or woman, you realize that. There are many variables that are different from company to company, even in the same industry. Also, your vendor may not take the beating you suggest. They may tell you to take a hike. A good buisnessman will have already reduced his cost as much as his experience and know how will let him, otherwise he would not be in business for long. It is not all as easy as you want to make it sound.

Jan 29, 2014 2:17pm EST  --  Report as abuse
Speaker2 wrote:

@4825, of course things are not all equal, and capitalism is very Darwin. If the company cannot adjust to the change in the wage environment and cannot make changes in other cost components, they lose business and may even go out of business. The business environment is always challenging.

Yes, some vendors may not go for the beat down, you change vendors. In the competitive, take no prisoner business model many here seem to vote for, you always work to reduce cost, but to continue to do so at the risk of harming your best assets, your employees?

Jan 29, 2014 2:53pm EST  --  Report as abuse
Speaker2 wrote:

Whatsgoingon wrote: @Speaker2 how do you know labor isn’t 100% of my business? Could you answer my other question: How would any of these outcomes help the economy, people with or without jobs?

Well yes it is possible to be a labor only contractor (bad business model BTW), then you invest in capital equipment to make your employees for efficient and raise your prices. Your competitor will do the same as the minimum wages for all establishes a benchmark in labor cost per unit.

Higher wages to people who work, means more disposable incomes and they can buy more goods and services and this creates more jobs.

Wal-Mart actually has many employees who “cannot’ afford to shop at Wal-Mart. Wal-Mart’s growth has slowed because they at the bottom of the barrel for consumers. If Wal-Mart increased wages, they would actually increase their sales.

Oh, where does the money come from? Its called the Federal Reserve, new money is created all the time.

Jan 29, 2014 3:02pm EST  --  Report as abuse
Whatsgoingon wrote:

@Speaker2 “Higher wages to people who work, means more disposable incomes and they can buy more goods and services and this creates more jobs.”

Really? In my example I give 20% raise to 8 of my employees and let 2 go UE. The money in circulation remains the same but we lose 2 jobs right on the spot. What did I miss?
Yeah I could raise prices. But my “big brothers” who have deeper pockets are sure to hold off until I go belly up. 8 more on UE…
If raising minimum wage can generate jobs, why did we wait until the election year?

Jan 29, 2014 3:26pm EST  --  Report as abuse
diluded0000 wrote:

Whatsgoingon, I’ll try to address some of your points. They are fairly reasonable, but I think I have a reasonable response. Mostly, you didn’t consider that if a business’ labor cost goes up 20%, any competing business has to take the same 20% hit to their labor cost. The 20% doesn’t erode the competitiveness of any one business, but might give a slight edge to companies that are already paying their employees more than minimum wage, which is fine by me.

And to your point of, “where does the money come from?”, like someone else pointed out, people getting by comfortably will hoard extra money. People making minimum wage are going to put extra money back into the largest segment of the economy, consumer spending.

Jan 29, 2014 3:27pm EST  --  Report as abuse
AlkalineState wrote:

lbankman complains: “well…say good by to the $1 Value Menu.”

Good. Never liked that crap anyway. The less ghetto food getting eaten…. the less we all pay for their diabetes and heart surgeries later on. Raise the minimum wage.

Jan 29, 2014 3:27pm EST  --  Report as abuse
4825 wrote:

@speaker2- I do agree that our employees are our greatest asset. Also, they tend to be some of the most costly assets for most businesses. One thing that will happen, when the miminmum wage is raised is a rebalancing of assets. In other words, assets can take on the form of human assets and/ or hard assets like machinery. When the job can be done by either automation or labor, an analysis will be done. If automation has a payback that has been shortened such that it becomes feasible, then some lessor skilled employees will lose employment in the process. Who wins in that senario? Certainly not those that lost their job. I realize that in your business, if I recall correctly is solar, you would not have as many assets to rebalance. The point being, there are unintended consequences that come from pushing up the bottom. Usually, when the bottom is pushed up, it becomes a domino effect and all wages end up going up, prices go up, and you end up right back where you started, chasing your tail so to speak. Only difference is some have lost jobs in the early stage of this process. Some will get hired back latter in the process but they are harmed by the job loss. Hopefully you follow the line of reasoning?

Jan 29, 2014 3:37pm EST  --  Report as abuse
4825 wrote:

@diluded0000- You have an error in your reasoning. Raising the minimum wage can change the competiveness between a business and it’s competition, even in the same industry. You and I might both run a donut shop. Mine might be fully automated using little labor to make my donuts. Your donut shop might be completely manual and you pay all of your labor minimum wage, or at least something less than where the new minimum wage will be. I have two emploees in my automated shop and you have fifteen employees in your manual shop. Our sales are about the same. Are you still competetive with me?

Jan 29, 2014 3:58pm EST  --  Report as abuse
bulahawkeye wrote:

What people don’t realize is that Obama has the rich man’s best friend. During his time as President, fortunes have grown dramtically for the the richest 1% in America…..which include Democratic Party leaders like Nancy Pelosi($200M net worth), Mark Warner ($400M net worth), Jerad Polis ($300M), John Delany ($300M)and even poor man’s defender Harry Reid (%5M). Under Obama, the rich have gotten richer and the poor have gotten poorer and the income gap has widened more that it was under Bush or Reagan. Sure, he’ll blame congress…hoping people forget he had a super-majority Democratic congress in his first term, and has controlled the senate majority his entire Presidency. Such control is something neither Bush nor Clinton had, by the way. They learned how to work across the divide to get things done and just blame everyone else… which is what one does when they have zero leadership ability – blame others.

Jan 29, 2014 3:59pm EST  --  Report as abuse
chuckthedemon wrote:

There are some mistakes in the text. At many places the word age is used instead of wage.

Ex: the minimum age or not
should be
the minimum wage or not

Jan 29, 2014 4:48pm EST  --  Report as abuse

Lbankman wrote:
“well…say good by to the $1 Value Menu. Say hello to the $5 Value Menu. Where does obama think the cost of the wage increase is going to come from? lol the companies aren’t going to absorb it. its going to be passed on to the consumer. if they can’t pass it on to the customer, they will find more ways to be efficient…do more with less.”

You know, they might just choose to absorb it as opposed to driving away customers with undue price increases. Many certainly are profitable to do so.

Case in point: I work in the medical device industry. You know that dreaded “Medical Device Tax” that’s a part of the ACA? Well, every single company I do business with, except for one (and I no longer buy from them because of it), has chosen to absorb that measly 2.3% tax. Because the cost is small. And profits are huge. Truth be told, it was barely a blip on the radar.

Sometimes it really is better to sacrifice a small amount of profit than it is to piss off your customers to make a political point.

As for your other option – becoming more efficient – well gee, that sure would be terrible, wouldn’t it?

Jan 29, 2014 4:55pm EST  --  Report as abuse
cbmfj wrote:

What all of you morons who claim to have vast economic knowledge (raising minimum wage means more people will spend more money) are unable to grasp is that this faulty logic assumes that no jobs get cut and no hours get cut and that business owners (investors are owners as well . . . just in pieces) will be willing to pay for this.
Fine, the Pres. used “people who wash dishes for the military” as those who will get this pay increase. Well, each military unit has a budget and the consolidated mess facilities are paid from this budget and the military can NOT go over budget (unlike government contractors) so for these positions to remain in quantity simply means that these units might do less training or face other cuts.

Now, I would like to see a better wage at the lower income level but I do not suffer from the illusion that this can happen simply by fiat. Nor is education the answer that all of you think it is.
What happens if the number of college grads increases by 50%? Just what jobs are they going to get? Did any of you idiots even pay attention to the stats? There were significant losses to jobs in the white and blue collar areas as well as loss of various business. Many of these people were/are college grads.

The knee jerk reactions from those of you who can only spout bullet points you’ve gotten from your handlers shows how badly the education system has treated you.

Economic wealth occurs by adding value to goods or services, simply transfering wealth from one to another only gives the illusion of generating wealth it adds NOTHING. The gains one sees in the market from pushing paper around are just an illusion of wealth (it’s still musical chairs even when the music is playing and everyone is walking around. . . ). In this closed loop the moment one gains something another looses.

Jan 29, 2014 5:13pm EST  --  Report as abuse
diluded0000 wrote:

4825, it is a good point, but I think you are giving more weight to automation than it really deserves. I have a really good understanding, and some practical experience with the inverse kinematics, g-code, circuits, and the host of other disciplines that go into advanced automation systems. The low hanging fruit for automating processes has already been picked: if it was that easy and profitable to automate, it would already be done. To develop a reliable automation system for your doughnut shop would take millions in capital outlay. Doubling the minimum wage isn’t going to accelerate the return on that outlay by very much. It would some, but I doubt it would be a dominant term in any financial model.

For big corporations, they are already either using automated processes, or moving labor intensive activities offshore. The minimum wage jobs that remain are mostly just ringing up customers, sweeping the floors, and stocking the shelves. There is too much liability with having cleaning and stocking robots running around a 24/7 big box retail store, and grandma isn’t going to use self checkout. I agree an increased minimum wage would create steeper barriers to entry and competitiveness for small businesses that compete with large corporations, but those have mostly all been run out of town anyway. But I’m looking at this from a selfish perspective: I just want to pay less taxes to help support people that have jobs, but aren’t getting paid enough to feed and care for their families.

Jan 29, 2014 5:22pm EST  --  Report as abuse
Mylena wrote:

Maybe, he can offers to people that accomplishes the retirement requiments a movil pension. What that’s means? very easy: if you are retired and your category like worker is been promoted you get the benefit too. Fair enough. Supposely this is US the first world , first world for whom? just rich people that even care about retirements or so?

Jan 29, 2014 5:33pm EST  --  Report as abuse

I see we have the normal rightie/Obama haters spouting off about their false reality, for example that a modest raise in the minimum wage would cause a spike in inflation, meanwhile there is NO evidence to support this assertion except for their ‘common sense’ telling them it is so.

@4825, After you asked US Of Rationality a questions about what the min. wage should be raised too and he answered a reasonable $10-12(personally I think $12-14), you posted some drivel about why just 10-12 why not 20, 30,40 or more? Seriously man, this is the same moronic argument you righties make when vilifying gay marriage, if legalize gay marriage, what about marrying your dog?

If you can not understand how moronic this argument is, I can not help you.

Jan 29, 2014 5:54pm EST  --  Report as abuse
AlkalineState wrote:

There is no magic bullet. But this is a pretty good start. Can’t hurt.

Jan 29, 2014 6:05pm EST  --  Report as abuse
JL4 wrote:

I get very tired of hearing that if we don’t allow corporations to pay us poverty wages, they’ll have to fire us; they do that anyway! But this idea that corporations hold the magic key to national economic health is just weird. It’s like we’re being held hostage, threatened. I’m for calling their bluff. Can’t afford a “$5.00 Value Meal”? Cook at home.

And if a small businessman can’t compete in the market, then he/she needs to file for bankruptcy and make way for someone who can. Why should I work for minimum wage so that a bad businessman can make it? If someone can’t give his employee raises, then he’s not doing business right. Now isn’t that what the business community is telling those who work for minimum wage? “If you aren’t doing any better it’s your own fault and you don’t deserve it”? Same goes for business.

If Company A pays its (for argument) 500 employees more money, and they turn around and spend it, then it is going back into the economy. It’s being taxed. It’s buying shoes, cars, houses, carpets, vacations, food…so all businesses benefit.

Jan 29, 2014 6:39pm EST  --  Report as abuse
4825 wrote:

USAPramatist2 goes into his typical name calling rant because he is incapable of a cogent conversation. Would not make sense to debate lamebrain views, be like arguing with a toddler.

Jan 29, 2014 6:40pm EST  --  Report as abuse
AlkalineState wrote:

@JL4: solidly argued.

Jan 29, 2014 6:59pm EST  --  Report as abuse
PaulBradley wrote:

@USofRationality; @USAPragmatist2

Yes, @USofRationality did made some very intelligent comments that some commentators here simply either don’t understand or don’t want to mainly due to their hatred of Obama that was cultivated by professionally targeted propaganda. There is nothing you can do about people that you send to school, yet they are going to ignore everything the school is trying to teach them and, instead, they will just redundantly say something that they heard someone say, without their own understanding what they are saying to begin with.

Jan 29, 2014 7:40pm EST  --  Report as abuse
PaulBradley wrote:

@4825

Do you really have to go to name-calling after someone answers to you your question? What is your problem? Is it your reading comprehension being so low that you fail to comprehend someone’s intelligent feedback to your repetitive inquiries?

Jan 29, 2014 7:50pm EST  --  Report as abuse
Whatsgoingon wrote:

@JL4 “And if a small businessman can’t compete in the market, then he/she needs to file for bankruptcy and make way for someone who can.” Seriously? Do you believe putting more people on UE helps the economy? Have you done any research, or just following the big mouth?

Jan 29, 2014 8:47pm EST  --  Report as abuse
4825 wrote:

@paulBradley- Go back read what I wrote and do your utter best to comprehend it. There was no name calling involved. Perhaps you need to borrow an english book or ask for help?

Jan 29, 2014 8:50pm EST  --  Report as abuse
shottsk2002 wrote:

Our problem is not failing to put away for retirement it’s today’s prices. We can’t afford to put anything away for retirement. It takes everything we make to barely keep our head above the water!!!

Jan 29, 2014 8:53pm EST  --  Report as abuse
Speaker2 wrote:

@4825, wage pressure can come from different directions. A rapid growing industry sector and a shortage of skilled workers can drive up wages, not just minimum wager earners. Yes, you have to look at assets and technology. Yes, increased wages can cause employee displacement depending on the industry and technology.

A good example is Applebee’s starting to use IPad’s to order and pay for meals. Now you just need servers to deliver food and bus tables.

What seems to be missing is the understanding that inflation over the past 30 years has pushed minimum wage earners to the point they can no longer afford food and shelter without additional assistance. It’s one thing for a high school kid living at home and flipping burgers part time. However today over half are working adults and minimum wage income is their only source of earned income. People need a living wage. Try living in the Bay area where a bare bones 600 sq.ft apartment can run 2,000 a month and do that on minimum wages.

Jan 29, 2014 9:40pm EST  --  Report as abuse
Speaker2 wrote:

@whatsgoingon, there are ways to adapt. Business does not exist on pricing alone. If you are smaller than your competitors, you cannot compete against them in the first place based on price, you have already lost. So you have to provide a better widget, service or benefit and sell at a higher price. In your example, labor only business, do the work faster and better. This would allow a higher sale price for example.

Jan 29, 2014 9:50pm EST  --  Report as abuse
Speaker2 wrote:

@whatsgoingon, capitalism is brutal and by its very nature both creative and destructive, it is survival of the fitness. A company must constantly adapt to the competitive environment or go out of business.

If the government raises the minimum wages a supplier raise material cost or reduces components to you, you adapt or go out of business. Minimum wages must be raised from time to time, otherwise employees cannot afford to work for you. Not all minimum wage jobs are entry level jobs, many are service jobs, hard work, low pay. Pay people a fair living wage, you will have happier and better employees and a better business.

Jan 29, 2014 10:09pm EST  --  Report as abuse
PorkBalls wrote:

Supposedly the richest country in the world, but with third world pay scales for the majority of low and unskilled workers and a lack of social support mechanisms such as universal Medicare that are commonplace across the OECD.

Why would anybody get out of bed to sweep floors or wash dishes for under $US15 an hour. You certainly wouldn’t and legally couldn’t in Australia. In a mining area you would want at least $US40 an hour to do those unskilled tasks.

Jan 29, 2014 10:33pm EST  --  Report as abuse
thinker72 wrote:

@Vincentlawrence,
Wow, just wow!
What an utter load of rubbish. supported by no evidence and an amazingly bigoted fox like vagueness.
i do like your simple minded line though, very apt for you.
Taking Australia as my example (where i live, thank the speghetti monster) minimum wage equals rough US $20/hr. Strongest economy in world, yearly inflation 2%, growth significantly more.

Jan 29, 2014 11:06pm EST  --  Report as abuse
Whatsgoingon wrote:

@Speaker2 I understand minimum wage needs to keep up with inflation, and businesses needs to compete to survive. The point I don’t get, is how and why minimum wage has anything to do with income gap or the economy.
* To keep up with inflation we should do the same as SS payments – adjusting it on an annual basis based on inflation data, as opposed to playing it in election year.
* If it’s such a magic tool spurring the economy, why was it only used now, 6 years into his presidency?
I suspect the intention was buying votes. Am I far off?

Jan 29, 2014 11:54pm EST  --  Report as abuse
Speaker2 wrote:

@whatsgoingon, I am glad we agree on the inflation component. Don’t blame Obama for wanting to raise the minimum wage. He is just the voice of the Dems who have been trying to raise minimum wages for years. Republicans always block, saying raising the wage is a job killer.

If you use 2012 dollars, 1968 was the high point, with the minimum wage equal to $ 10.51/hour and it’s been downhill from there.

My point all along is raising the minimum wage is not a job killer and just the right thing to do.

Jan 30, 2014 12:59am EST  --  Report as abuse
Whatsgoingon wrote:

@Speaker2 the raise needs to be properly planned and implemented. At the bare minimum a research report needs to show impact of different scenarios – how many shops will close and how much tax needs to be raised, both for near term (cash flow) and long term (pensions). Throwing in an arbitrary number will be just like ACA – we will know what it is when we see it.

Jan 30, 2014 1:56am EST  --  Report as abuse
PorkBalls wrote:

@VincentLawrence and thinker72

Reasonable points. Australia has a much higher minimum wage than the USA, but also has much higher income support mechanisms re transfer payments to provide further income support low income workers. As a consequence, there is a fair incentive for an unskilled person not to work in Australia.

An unskilled Australian who is only able to earn the lousy minimum wage with an annual salary of about $US30-35,000pa often won’t bother to work, particularly if they have multiple children. Why? Because unemployment or disability benefits, significant child support payments, health card benefits (eg free pharmaceuticals), public housing entitlements and so on mean that they will still get the equivalent of about $US25-30K pa for sitting on their bum.

Why go the trouble of working a full 38 hour week and incurring transport costs etc for a just $5K. Better to sit home watching cable TV. We then solve our need for low and unskilled workers through T457 Visas, that allow foreigners from China, India, Phillipines etc to do the low-paying jobs that Australians refuse to do. So we haven’t got it right either.

Jan 30, 2014 2:11am EST  --  Report as abuse
Overcast451 wrote:

Oh wow, something – like a system for ‘social security’.. wait.. doesn’t a failed system like that already exist?

If the government worked Social Security properly – we wouldn’t need this right? How about we fix what’s out there already and broken, before we try any of your new ‘genius’ ideas Obama..?

Jan 30, 2014 8:31am EST  --  Report as abuse
AZreb wrote:

Trust the government with my money? No way! Better off putting it in coffee cans and burying those in the backyard!

Jan 30, 2014 8:46am EST  --  Report as abuse
4825 wrote:

@whatsgoingon- It is just a tool to buy votes in an election year. We all know that to be the case. Everything this dude does is strictly political. They don’t expect regular folks like you and me to notice.

Jan 30, 2014 9:09am EST  --  Report as abuse
NEWAGER wrote:

USofRationality–Are you serious? We enjoyed a great economy under Reagan. We had double digit interest rates when he took office. And you are really blaming the state of the economy today on Reagan. That’s the funniest thing I’ve seen posted here since I started readng this website.

Jan 30, 2014 9:35am EST  --  Report as abuse
Adam_S wrote:

If you have worked hard all your life, you deserve retirement. Yes, this is true.

Problem is that ‘secure retirement’ means different things to different people. You are entitled to some form of retirement, yes, if you’ve worked your entire life, paid taxes, etc. But if you’ve worked your entire life at jobs that do not require a degree, do not necessarily require technical skills, etc etc…you aren’t entitled to much.

You are entitled to something, but not much.

I think the problem is that people feel they’re entitled to have the same standard of living they had when they were working at a job like Costco, when they’re retired. It just doesn’t work like that in America. If you want an annual income of 40K per year in retirement, you’d better be earning significantly more than that during your working years, and saving like a maniac. I don’t think people realize this. And that’s a huge problem.

Jan 30, 2014 9:48am EST  --  Report as abuse
NEWAGER wrote:

Whatsgoingon–You have great points. I would like to add that the formula for COLA increases for Social Security leaves out the increased cost of food or fuel. They justify that by saying those costs are too volatile. That would work fine if we didn’t have to eat, drive or heat and cool our homes.

Jan 30, 2014 9:52am EST  --  Report as abuse

NEWAGER wrote:
“USofRationality–Are you serious?”

Yeah, I am. “Trickle down economics” has decimated the middle class and played a large role in ruining our economy. The idea that showering the wealthy with tax cuts will somehow lead to prosperity for the middle and lower classes is possibly the most asinine political philosophy of the 20th century.

Jan 30, 2014 12:31pm EST  --  Report as abuse
Chazz wrote:

Obama’s world…
1. I will have the most transparent administration.

2. I have Shovel ready jobs.

3. The IRS is not targeting anyone.

4. If four Americans get killed, it is not optimal.

5. In case you missed it, this week, there was a tragedy in Kansas. Ten thousand people died.

6. ObamaCare will be good for America.

7. You can keep your family doctor.

8. Premiums will be lowered by $2500

9. You can keep your current healthcare plan

10. Just shop around, for that healthcare I claimed you wouldn’t lose.

11. I am sorry you lost your healthcare, (you know the health care you have to shop around for, ya the same health care I said you could keep, yup, that’s the one).

12. I did not say you could keep your health care. (Regardless that 29 recorded videos show I did)

Jan 30, 2014 12:49pm EST  --  Report as abuse
Whatsgoingon wrote:

Just noticed the title switched from “minimum wage” to “retirement savings”
“Obama signed a presidential order directing Treasury Secretary Jack Lew to establish a government-backed investment option called myRA that permits people with little to no savings to set aside as little as $5 in payroll deductions.

“If you worked hard all your life, you deserve a secure retirement,” Obama told about 1,500 plant workers.”

$10 a month, $120 a year, $9,600 for 80 years. At 1.xx% return rate how can anyone have a “secure retirement?” Yes everyone deserves one, but a plan slapped together like this will simply repeat ACA – we will know it when we see it.
IMHO personal saving is a personal business. Federal government is in a very poor position to add value, particularly after its credit rating was dented by reckless spending.

It’s also very wired looking this way: For every $1 I put into myRA, it means my government borrowed it on my behalf, and I have to pay tax to pay myself back. I guess everyone knows what’ll happen when the $1 make a round trip to the government. I have to pay extra tax to keep it “managed.”

Yes socialism is attractive to people who want others to pay their bills. But I hope these people think twice. Unlike ACA, myRA is about your own money.

Jan 30, 2014 1:27pm EST  --  Report as abuse
TheNewWorld wrote:

If I pay $130 a year into this new program, and retire in 30 years. I will have amassed $3,900. Is Obama saying that this account is going to last me for 20 years worth of retirement? That wouldn’t last me 3 months.

Jan 30, 2014 5:01pm EST  --  Report as abuse
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