Skip to main content

View Diary: BREAKING: Cyprus Might Take 25% of Savings Now (197 comments)

Comment Preferences

  •  How about some numbers to back that up (5+ / 0-)
    Recommended by:
    BlueDragon, nancyjones, ferg, Iberian, cynndara
    Average American family savings account balance   $3,800
    Percent of working Americans who are not saving for retirement 40 %
    Percent of American families who have no savings at all 25 %
    Average amount saved for retirement $35,000
    Average American household debt $117,951
    Average American family home value $160,000
    Average amount owed on home mortgage $95,000
    Average American household annual income $43,000
    Average credit card debt $2,200
    Percent of American workers who postponed their retirement age this year 24 %
    Percent surveyed who are very confident about having enough money for retirement 18 %
    Percent of American adults who do not have a bank account 7.7 %
    Percent of American adults who have an emergency fund to fall back on 38 %
    Take those numbers and do some simple calculations. Only 75% of Americans have any savings and they average less than $4,000. Using the standard curve of wealth distribution to get 34X's that amount then I'm sorry but $130,000 in savings (not retirement accounts) is definitely the land of the 1%.

    You can't assassinate the character of any of modern conservative. You'd have to find where it was buried, dig it up, resurrect it, then kill it. And killing a zombie isn't really assassination, is it?

    by ontheleftcoast on Sat Mar 23, 2013 at 08:40:42 AM PDT

    [ Parent ]

    •  So it doesn't matter how the $130k got there or (4+ / 0-)
      Recommended by:
      nchristine, Sparhawk, OldSoldier99, grover

      how long it took to get there? Seems we've been duped by the real rich again and are pitted against one another.

      I see what you did there.

      by GoGoGoEverton on Sat Mar 23, 2013 at 08:41:55 AM PDT

      [ Parent ]

      •  I agree with the approach the diarist made (0+ / 0-)

        elsewhere. Graduated rates that go after the megarich would be a much better solution. But I have a hard time accepting, based on real data, that this would have a dramatic impact. At least in the US.

        You can't assassinate the character of any of modern conservative. You'd have to find where it was buried, dig it up, resurrect it, then kill it. And killing a zombie isn't really assassination, is it?

        by ontheleftcoast on Sat Mar 23, 2013 at 08:47:24 AM PDT

        [ Parent ]

        •  It'd be worse in the US. (0+ / 0-)

          That $130k might be all someone has, save some measly SS or SSDI. Much easier to take the hit when you have healthcare and housing covered.

          I see what you did there.

          by GoGoGoEverton on Sat Mar 23, 2013 at 08:49:47 AM PDT

          [ Parent ]

        •  Try this reality: People would stop saving... (0+ / 0-)

          Why save money over decades when assholes in power are just going to come take it all?

          If anything, your approach will push people to invest in foreign safe havens...something that would be disastrous for this country when lending dries up and the auto/retail industries along with it. That or they will just go all Glenn Beck and buy a shitload of gold and silver, which does SQUAT for the economy.

          Adequate health care should be a LEGAL RIGHT in the U.S without begging or bankruptcy. Until it is, we should not dare call our society civilized.

          by Love Me Slender on Sat Mar 23, 2013 at 03:44:54 PM PDT

          [ Parent ]

    •  No it most certainly is not (2+ / 0-)
      Recommended by:
      middleagedhousewife, k9disc

      And "the 1%" is just fucking shorthand, not math. The problem is more in the top 10% of the top 1% of the top 1%.

      The goal is to pull more people up to a reasonable retirement situation not less. And in America $100k is near the borderline for reasonable retirement situation.

      •  It isn't really even the numbers of that .01%... (2+ / 0-)
        Recommended by:
        BlueDragon, cynndara

        It's the bad actors that are in that neighborhood and the collective bad action of rent seeking parasites that have grown too big for the host.

        I'm far more concerned with the actions of EXXON and Big Oil as a cartel than I am of some big oil baron in Houston.

        Just like I'm more concerned with Goldman Sachs than I am of Warren Buffet.

        I'm really only against the super wealthy when they leverage their wealth against humanity.

        It's easy to mix that up with "rage at rich people", which I think that the post you responded tried to tut tut.

        A hundred grand is still a heartbeat away from bankruptcy today, and is in no way shape or form a 1% kind of holding.

        Reminds me of Chris Rock on "Rich vs Wealth" - "Shaquille O'neal is rich. The guy who signs his check? He's wealthy..."

        Democracy - 1 person 1 vote. Free Markets - More dollars more power.

        by k9disc on Sat Mar 23, 2013 at 10:24:00 AM PDT

        [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (141)
  • Community (70)
  • Elections (26)
  • Civil Rights (26)
  • Environment (26)
  • Media (25)
  • Culture (25)
  • Law (24)
  • Science (23)
  • Trans-Pacific Partnership (22)
  • Memorial Day (21)
  • Labor (21)
  • Josh Duggar (20)
  • Economy (19)
  • Republicans (17)
  • Rescued (17)
  • Ireland (17)
  • Education (17)
  • Marriage Equality (17)
  • Climate Change (17)
  • Click here for the mobile view of the site