Even though his employer provided a 401K and would have matched contributions, and even though he was earning hundreds of thousands of dollars, Snow had not shown either the interest or financial capability to manage his own retirement benefits....

He doens't have to manage his own retirement benefits -- that's what pension managers are for. Very DUMB not to have gone in on a 401K with matched contributions.

doens't -- should be "doesn't"

...Snow conceded that he has been very lucky to have the government fund his health care. "I've been lucky I work at the White House, I've had the use of diagnostic care.

I KNEW it.
I said in a thread last week that he probably took the job at the White House to get government health care because maybe the health insurance at FOX wasn't that goo. I was right.

According to the Census Bureau, there were 47 million Americans without insurance in 2006, up from 41.2 million in 2001, when Bush entered office....


res ipsa loquitur - that's all I have to say

" Even though his employer provided a 401K and would have matched contributions"


Let me illustrate how idiotic not taking advantage is:


Snow was (at a minimum) in the 25% bracket, and probably living in a high tax state as well, but for argument let's just assume it was only 5%. This means, for the last $1000 earned, he was taxed $300, netting $700.

Had that same $1000 gone into the 401(k), it would have been his $700 and the Fed/State's $300 making up the balance. This translates into a real-world-return (RWR) of 42%.

But WHEN THEY MATCH, that same net-$700 investment causes a balance of $2000, a RWR of 185%. One Hundred and Eighty Five Percent!!!

Let Tony be a lesson: if anyone reading this has a matching plan at work, MAX OUT!

Funny how when it strikes right at their own home Republicans find that health insurance provided by their employer and pension benefits are not the EVIL things they try to make it out to be -- as Snow is now finding out.

Let Tony be a lesson: if anyone reading this has a matching plan at work, MAX OUT!

Posted by Danforth at 2007-09-05 02:58 PM | Reply

"Financial Wizard" is definitely not my middle name but even I knew enough to take full advantage of a 401K when it was offered. How could he have been so dumb?

wasn't that goo. I was right.

Posted by CalifChris at 2007-09-05 02:53 PM

should have said "good"

Unions are evil, all Republicans know that.

Oh, one other possible reason:

AFTRA's Trustees just upped the maximum yearly pensions from $96,000 to $108,000, provided the pensioner gets at least one pension credit after Dec 1, 2008. Snow may be pursuing that, and if so will probably see his annual pension income rise to the new level by the first quarter of 2009.

By comparison, the Screen Actor's Guild's top pension is $72,000/yr.

Good observation, Danforth

Snow's counting on social security and the little bit of a pension from being a Union member. He's not even "just" a Republican. He's a mouthpiece for "party of responsibility."

The irony is overwhelming.

AFTRA, btw, is the American Federation of Television & Radio Artists.

I thought it stood for Always Fucking The Republican Ass. But hell what do I know.

Larry

Snow's counting on social security and the little bit of a pension from being a Union member....

Yeah, Bush continually tries to privatize Social Security in order to get workers to put their money into private accounts and invest that money in the stock market (and giving Bush's pals on K street control of trillions of ss dollars).

BUT -- and this is a terrific case in point -- if Tony Snow didn't even have enough financial savvy to put his earnings into a 401K then how would he have have ever managed to invest his social security earnings to earn enough out of the stock market to last him for a lifetime. He wouldn't.

The irony is staggering:

Tony Snow becomes the 'poster child' for WHY we SHOULDN'T privatize social security.

OCU

Not to mention why a national health care program would be in the best interests of all of us.

OCU

""Snow conceded that he has been very lucky to have the government fund his health care. "I've been lucky I work at the White House, I've had the use of diagnostic care. I'd like to find ways to help those who, for whatever reason, ... don't get diagnostic treatment, don't take care of themselves, may not have the resources that I've had at my disposal," he said. But that hasn't made him rethink his opposition to using federal resources to expand coverage for fellow cancer sufferers. "That does not mean that I'm going to be necessarily banging the tin cup for federal funding. It may be that I'll go out, try and raise some money myself to try to help people directly.""

Hey I'm sorry as hell about his disease but the guy is an asshole.

Hey I'm sorry as hell about his disease but the guy is an asshole.

"It may be that I'll go out, try and raise some money myself to try to help people directly."

yeah, a real asshole.

Should some of us on the DR HOPE Tony dies a painful and wintery death? You're just itching to do it....go ahead DanniDrivel(TM), add him to your hope of death with pain list.

Posted by handsome_rob at 2007-09-05 04:04 PM

"HANDSOME" Rob??? Who could this new poster be? hahahahahahahaha

"It may be that I'll go out, try and raise some money myself to try to help people directly."

Why is it Republicans never bother until until it hits them directly.

Opposing the exact same benefits he receives for the rest of the population does make him an asshole. Raising a few bucks to salve his conscience doesn't alleviate his hypocrisy.
And that's "IF" he even does that.

Picture yourself with his disease but without those benefits and then figure out how you'd feel listening to his comment.
I'd be pissed.

i AM pissed. how dare he even consider helping someone directly! i'm appalled.

Yeah sure HANDSOME, and as you disease got worse and you became bankrupted thereby not able to leave you family any inheritance, you wouldn't even think that it was unfair Snow received federal benefits but you don't. Nah, it wouldn't occur to you. Cuz you're a tough, self-reliant American.

Unbelievably stupid. Just too funny that the spokesman for the union haters has his union look after his and his family's future needs better than he did himself.

He'll be looked after one way or the other, of course. Still looks bad for such a visible figure in the party that preaches personal responsibility to be the poster child for personal irresponsibility.

man, you guys sure read into things a lot. re-read my posts. i never once said i was opposed to federal funding/aid. but it amazes me how the glass is always half empty in your world. he considers helping others "directly" and he's an asshole. that's what i object to. not his stance on federal aid, but your decision to focus on the negative, completely ignoring or dismissing his willingness to help others "directly".

"Why is it Republicans never bother until until it hits them directly" is a prime example. so what? better late than never, right? maybe he's going through a learning experience. maybe, just maybe, he's not an asshole.

Oh, I don't think he's an asshole. But he's the poster child for voting against one's own self interest. Not just voting but selling it to others.

I'm one of the lucky ones who gets to pay the full bill for my health insurance, and it hurts. It would hurt way more to go without. It's one of those things where if everyone, including congressmen and administration officials, had to do it the way I do the system would be changed.

Should some of us on the DR HOPE Tony dies a painful and wintery death? You're just itching to do it....go ahead DanniDrivel(TM), add him to your hope of death with pain list.

Posted by ride_on at 2007-09-05 04:05 PM | Reply | Flag:

Rides On Cock,

I'll do it.

Put me down for Snow dead by Christmas.

"Not to mention why a national health care program would be in the best interests of all of us."
OCU

Oh yes...we all get such good service at the DMV, the post office, the SS administration, etc, that we should allow the government to take over health care. What fools.

"What fools."

The efficiency of the Medicare system is the envy of the world, as is the efficiency of the SS administration. You need new talking points.

Imagine a country with no medical bills, no insurance companies, and no collection agencies. Practically all of Europe has this already.

But, in the USA, a Privitized Bureaucracy fighting you and eachother for health care dollars robs more money than the staff and hospitals providing actual health care services. Then slap on an extra 300% for good measure for your prescriptions. All you need is enough money to bribe a Politician. A $100,000 will net you $10,000,000.

What's more amazing than this Royal Scam are the fools that think they have the best health care system on the planet. They don't and apparently they'll never figure that fact out.

The hypocrisy of Tony Snow is mind-boggling.

He is leaving the White House "to make money" but leaving his government health coverage?

He earned hundreds of thousands at Fox News but never entered a proper pension scheme?

He advocates Health Savings Plans but doesn't have one?

And he purports to explain the policies of this administration to the press, including economic and taxation and social security and medicare policies?

And we paid him $162,000 a year plus benefits to do that?

None of it makes sense except that hypocrisy is the name for this administration and all its politicizing of government agencies and its hubris.

and you became bankrupted thereby not able to leave you family any inheritance, you wouldn't even think ...

Posted by danni at 2007-09-05 04:25 PM | Reply

The truth eventually leaks out: DanniDrivel(tm) believes the government should fund your family's inheritance, by paying your bills for you.

The Rethugs are going to lose the national health care debate... and if they want to opt out of a national plan and die sick and broke... fine with me !

The Rethugs are going to lose the national health care debate... and if they want to opt out of a national plan and die sick and broke... fine with me !

Posted by YoMeLIB

When the public finds out they will ultimitly pay for it through the nose, this issue will die just as it did for Hillary Rodham. It all sounds great until the bill comes due.

"When the public finds out they will ultimitly pay for it through the nose, this issue will die just as it did for Hillary Rodham. It all sounds great until the bill comes due."

Then how do you explain so many other countries paying less and getting more?

""the government should fund your family's inheritance, by paying your bills for you.""

Virtually every single person who posts on this site is susceptible to bankruptcy from one single major illness, whether they have health insurance or not. Pretending that you are somehow immune from that won't help you when the limit on the amount of $$$ your insurance covers is reached due to cancer or some other horrible disease. WE allow the insurance companies to keep us paying their profits yet they don't even provide us with real long term protection, and hey if most of us lose our jobs there goes the health insurance. Oh, I know we can convert so that we can pay for it ourselves but most folks can't afford the rates.
I laugh at the righties who fight against a national health care plan but when they need it, like Tony Snow, I don't laugh at them, as I should, I still sympathize. It isn't their fault really that they have been convinced to vote against their own best interests, they are just intellectually incapable of a truthful analysis of their own situation. They like to pretend they are rugged individualists who will always be able to take care of themselves. Tony found out the hard way that is bull shit. I hope y'all don't have to learn like he is.

Tony's got nuttin' to worry about, he's "a friend of ours".

- The Bush Administration

Danni those that are against National Healthcare insurance are just greedy fucks. They don't and won't give a shit until they are the ones needing it. I swear.

Larry

According to the Census Bureau, there were 47 million Americans without insurance in 2006, up from 41.2 million in 2001, when Bush entered office.... res ipsa loquitur - that's all I have to say

Posted by CalifChris

And who's fault is that? I know lots of people that choose not to get health care or retirement funds. Not my problem that they choose to spend it now on fun things rather than save for bad times.

Then how do you explain so many other countries paying less and getting more?

Posted by Danforth


They have no choice? What countries would you be referencing? And so many others shouldn't include Canada.

"What countries would you be referencing?"

You're joking, right?

The W.H.O. ranks the U.S. 37th in quality of health care. I'm sure I don't have to remind you where we rank on health care spending.

Do the math.

Thanks for the links to backup you case Danforth. I'll look into it Thursday.

"...medical bills are overwhelmingly the most common reason for personal bankruptcy in the United States."

The truth seems to be more than WIS can handle.

According to the Census Bureau, there were 47 million Americans without insurance in 2006, up from 41.2 million in 2001, when Bush entered office.... res ipsa loquitur - that's all I have to say

Posted by CalifChris

Tony Snow sure learned fast about the value of having decent health insurance.

The truth eventually leaks out: DanniDrivel(tm) believes the government should fund your family's inheritance, by paying your bills for you.

Posted by vernon at 2007-09-05 06:45 PM | Reply | Flag:

Then I suppose you wholeheartedly endorse the estate tax, right?

Oh wait...the DEATH tax. Sorry, had to put that in republispeak for you.

"...medical bills are overwhelmingly the most common reason for personal bankruptcy in the United States."

I've heard that 80% of all medical costs come in the last year of a person's life. That's why when it's obvious I'm on my last legs, I'm not going to opt for anything that will keep me alive for less than a year. I'd rather my money go to my family than a hospital and doctors.

I've heard that 80% of all medical costs come in the last year of a person's life. That's why when it's obvious I'm on my last legs, I'm not going to opt for anything that will keep me alive for less than a year. I'd rather my money go to my family than a hospital and doctors.

Posted by goatman at 2007-09-06 02:26 AM |

Life isn't always that tidy.

Hey Goatman - the 80% of medical costs actually come after the age of 65 - of course that's just the average. Medicare does a decent job paying these costs; I beleive they pay about 60% of all medical bills for people over 65.

Danforth, do you know the criteria that the WHO uses to make its rankings for healthcare? I'd be interested to know what those are. My guess is that they are including factors such as ease of payment, availability of services for all, affordability, etc. in addition to quality of health care. Thanks in advance if you find anything.

Bartimus

Medicare does a decent job paying these costs I beleive they pay about 60% of all medical bills for people over 65.,,,

My Mom is on Medicare and they pay 80% of the charges Medicare approves (which is just about everything) and most doctors accept whatever amount Medicare has paid as final payment. She also pays about $270 a month out of pocket for what they call a "Medicare Supplemental" policy that she has with a private insurance company. The Medicare Supplimental pays for the remaining 20% of costs that Medicare doesn't cover.

Life isn't always that tidy.

I know.

CC, that ain't bad. My "60%" was more of a textbook figure and didn't reflect either the lower rates or supplimental policies. From earlier posts, it sounds like you're for national health care. I think it's going to happen as well. Do you see the new program as just a reworking of 'Caid and 'Care or do you think that the whole system will be redone?

I personally think that of all the candidates, Obama has the best health plan - one of his main points is to cover catastrophic care, which to me is a good idea. He also wants to promote prevention, which I think will be necessary as well. I think all this could be done using the current system (greatly expanded, of course). One of the big problems I see is, of course, how the heck do you pay for it all? The only way I see is a massive distribution of wealth (ie superhigh taxes). It'll be interesting to see how the new president, whomever he or she is, decides to implement health policy in '09.

""Not my problem that they choose to spend it now on fun things rather than save for bad times.""

Irresponsible idiots paying rent and buying food.
I hope that the righties who post their class hatred here remember their words when an illness or a layoff effects them. Oh, of course that will never happen.....cuz they are so smart and responsible.....til it does. Then their whines will be the loudest.

If Snow isn't well off making $160,000 dollars a year how does he spin the idea that those making less should be able fund their own retirement, pay for their own health care, provide education for their children etc? The idea of health saving accounts is a joke.How much after tax income do most people have to fund the account? Just get one ex/ray and you are looking at several hundred dollars. Break a bone and several thousand dollars later your health savings account is empty. Multiply the events if you have a family.There are ways to do it better. One idea is to have the government buy the expensive equipement for the hospitals with the understanding that its use and billing must be drastically reduced. That ends the hospitals claim that it must charge ridiculous prices for procedures like x/rays mri etc in order to pay for the expensive equipement. This direction is a win win for the consumer and hospital. Government doesn't get involved that much in healthcare and more people can afford to be treated. This brings down the cost of insurnance etc. The same line of thinking can even extend to those getting their education paid for by the govt. I think if you take handout from the government to pay for your education you should provide x amount of service to those who have little or no insurance for x amount of years.We have some of the best health care in the world but what good is it if most can't afford it yet we pay per capita more than most in the world and have less to show for it.Not treating a problem only leads to more expensive problems later on and yes they are paid for eventually maybe not by the user but by everyone else.

"The idea of health saving accounts is a joke.How much after tax income do most people have to fund the account? "

HSAs are funded with pre-tax income.

Irresponsible idiots paying rent and buying food.
I hope that the righties who post their class hatred here remember their words when an illness or a layoff effects them. Oh, of course that will never happen.....cuz they are so smart and responsible.....til it does. Then their whines will be the loudest.

Posted by danni

Irresponsible idiots eating out alnost every night, 2 cars, motor home, big house, big boat, snow machines, quad runners, and big debt.

Irresponsible idiots eating out alnost every night, 2 cars, motor home, big house, big boat, snow machines, quad runners, and big debt.

Tony's seat isn't even cool yet. How cruel.

Politics aside I hope he beats his cancer.

BAD SHIT MAN

I hope that the righties who post their class hatred....

Posted by danni

That kind of posting sucks...we need it to be more personal, even more mean spirited and despicable....like HOPING FOR the death of specific individuals (and death with a lot of pain involved for those people), correct DANNIDRIVEL(TM)? So right!!!!! Now join in with DANNIDRIVEL(TM) with your praise and love.

2112...nice post!!!! Seriously.