screw the baby boomers

From: "nu-monet v5.0" <nothing@succeeds.com>
Newsgroups: alt.slack
Date: Sun, Feb 9, 2003 6:42 PM

A simple equation, really. When the demographic
bulge of the baby boomers reaches retirement age,
the goverment will *have* to prevent them from all
retiring. This will prevent a huge labor shortage,
the collapse of Social Security, and massive tax
increases to support an overburdened health care
system. Lots of old people are going to suffer
because of this.

http://makeashorterlink.com/?J1D825763

WASHINGTON (Reuters) - It's bad enough the never-
ending bear market has stolen some of our retirement
savings, but that's nothing compared to what Uncle
Sam might do.

As Americans keep pumping money into Individual
Retirement Accounts and 401(k)s, many may not be
aware that the complex web of tax rules governing
these accounts could ensnare even more of our money,
just when we're getting ready to enjoy it...

...The money coming out of these accounts is taxable
when you withdraw it and use it. Some of it becomes
immediately taxable to heirs, and it can be subject
to estate taxes as well as income taxes...

...horror stories of savers whose retirement
accounts were cut by as much as 80 percent because
of poorly designed rollover and distribution
strategies...

--
THE ETERNAL CONTEST

"God adores filthy, downtrodden wretches,
and covers the Earth with his favorites;
but Mother Nature abhores the ignorant
peasant, and seeks ever creative ways of
reducing their profligate numbers."
--nu-monet

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Original file name: screw the baby boomer.txt - converted on Friday, 13 June 2003, 22:41