A Quote by Jay Leno
As you know President Bush has been traveling around the country trying to sell his new Social Security plan. He wants to take our retirement money and invest it in the stock market. He says nothing can go wrong. I'll mention that to Martha Stewart the next time I see her.
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Republicans are suggesting that you take your retirement money and invest it in the stock market to take care of yourself but that leaves you with choices that you may not know anything about. The purpose of social Security is that you don't fall through the crack and find yourself destitute.
Martha Stewart denied allegations that she had been given inside information to sell 4,000 shares of a stock in a biotech firm. Stewart then showed her audience how to make a festive, quick-burning yule log out of freshly-shredded financial documents.
I met with Martha and Sharon to see if there are any opportunities in syndication. My vision says her customers and fans are still loyal to her. I don't think the Martha Stewart brand loyalty has changed.
Tough times for Martha Stewart. Yesterday, Martha Stewart reported to her parole officer and had to take a mandatory urine test for cocaine and marijuana. Martha was found to be drug-free and her urine was found to be a lovely yellow saffron.
A lot of the money in the stock market is really our national retirement plan, for better or worse.
If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders can decide that it's time to sell out, and the market will plunge.
President Bush got an early Christmas gift. This week, President Bush was chosen as 'Person of the Year' by Time magazine. Not only that, Martha Stewart was chosen as person of the year by Doing Time magazine.
The president (George W. Bush) says let's have private accounts, and take the surplus money that's being gathered now in Social Security and put it into private accounts. That works.
Do I want to see people take their Social Security payments and put them into private accounts, open up an eTrade account and go into the stock market? Absolutely not.
The President has no real plan to address the fiscal challenges arising from the retirement of the baby boom generation, let alone a plan to fix Social Security.
President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.
Even if I had money to invest I wouldn't invest it in oil companies - - or their bankers, suppliers, customers ... really that means the whole stock market. I'm not opposed to divestment, but I think by itself it won't get very far. The demand is still there, the fossil fuel infrastructure is still there. Where I would like to see our political energy go is to stop ecocide on a local and bioregional level. Each new energy project involves horrible abuse of mountaintops, groundwater, forests, etc., because all the easy resources have already been extracted.
If a woman did not work and have the opportunity to save and invest on her own throughout her lifetime, she is often totally reliant on her family and Social Security for her retirement years.
In order to fix Social Security, we must restructure it so that we continue to provide for our Nation's seniors that are approaching retirement age, but allow for younger taxpayers to invest a portion of their Social Security taxes in private accounts.
My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?
Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.
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