Biden’s ESG Tax on Your Retirement Fund

[SongSungAu]

Biden’s ESG Tax on Your Retirement Fund​

A Labor Department rule would push fiduciaries to favor climate policies over the interests of investors.​

Opinion | Biden’s ESG Tax on Your Retirement Fund

A Labor Department rule would push fiduciaries to favor climate policies over the interests of investors.

www.wsj.com

This guy's Twitter thread is worth browsing (you don't need a Twitter account, you can use your browser).

https://twitter.com/VivekGRamaswamy

Here's more on ESG for anyone interested:

What Is Environmental, Social, and Governance (ESG) Investing?​

What Is Environmental, Social, and Governance (ESG) Investing?

Environmental, social, and governance (ESG) investing refers to a set of standards that socially conscious investors use to screen investments.

www.investopedia.com

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[pmbug]

Don't most retirement funds just invest client money into mutual or index funds (usually as directed by their clients)? I'm wondering how much actual impact this ruling might have.

 

[Buck]

A Labor Department rule would push fiduciaries to favor climate policies over the interests of investors.

this is gonna be good; pull the guts completely out of our capitalist system and now it runs on the silenced yelps of beagles being mutilated in a lab somewhere...it would run on the screams of the dead vaccinated people, but they're now dead while the beagles still squirm in their cages


what a country

 

[SongSungAu]

Don't most retirement funds just invest client money into mutual or index funds (usually as directed by their clients)? I'm wondering how much actual impact this ruling might have.

I suppose it will depend upon how "woke" places like Vanguard and Fidelity get. Stocks and mutual funds on the open market they can't control so much but perhaps they will just charge higher transaction fees for stocks/funds they deem "unacceptable" or whatever term they decide to use.

Through pricing mechanisms they can do whatever they want. And if all the big players do it, the little guy can't just close his account and go somewhere else because it will be the same story at the new place.

As with most things, time will tell.
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[Buck]

the little guy can't just close his account and go somewhere else because it will be the same story at the new place.

at this point in time, isn't it just 'common sense' to pull your money out all together???

don't participate in the game they gave to us, odds are, do that, and your life will probably always get better



i don't understand the extended amount of energy we're encouraged to pour into our 'wealth' if only to not have spent much of it before you die because we're scared of dying with nothing...

like another created paradox for the sheep to stumble over

 

[cheka]

I suppose it will depend upon how "woke" places like Vanguard and Fidelity get.

in 401k the companies can pick which funds/etc are offered by vanguard/fidelity/trowe to the employee

now look at the companies that support globalist warming, blm, globohomo, etc

also consider pension fund managers -- getting esg dictates from same

 

[Joe King]

Don't most retirement funds just invest client money into mutual or index funds (usually as directed by their clients)? I'm wondering how much actual impact this ruling might have.

They are starting small. Ie: the camels nose under the tent. Later on they'll likely mandate that a certain % be invested in that crap.

 

[nickndfl]

Remove yourself from the central planning system and become self-sufficient. You don't need gift cards from Walmart and EBT to survive if you have half a brain.

 

[Ttazzman]

at this point in time, isn't it just 'common sense' to pull your money out all together???

don't participate in the game they gave to us, odds are, do that, and your life will probably always get better



i don't understand the extended amount of energy we're encouraged to pour into our 'wealth' if only to not have spent much of it before you die because we're scared of dying with nothing...

like another created paradox for the sheep to stumble over

When I see a comment like "pull it all out" ....I feel it mandatory to ask what alternative do you suggest?

Fwiw......mine was all pulled out yrs ago

 

[Joe King]

When I see a comment like "pull it all out" ....I feel it mandatory to ask what alternative do you suggest?

Fwiw......mine was all pulled out yrs ago

When I see a comment like yours, I feel it mandatory to ask what alternative would you suggest? I mean, seeing that you've already done what he suggests we all do, you must have some advice.

 

[Ttazzman]

When I see a comment like yours, I feel it mandatory to ask what alternative would you suggest? I mean, seeing that you've already done what he suggests we all do, you must have some advice.

Several years ago (2007-2012) the environment was different but I bought real things that gain value and were mostly sellable ....and in some cases tax deductible.....ie I have 4 various very popular john deere tractors that I wrote off and street value now exceeds what I paid for them...another example is colt snake pistols ...values are around 3 times cost....bought farm land.....of course bought metals...bought farm animals.....kept a workable level of cash...invested in a few local startup construction trade companies (my expertise ).....i understand my model doesn't fit most peoples capabilities so I rarely mention it....yep I missed the big market run up but my level of living in retirement is increasing annually...also retired all debt ..

 

[pmbug]

...mine was all pulled out yrs ago

 

[cheka]

i dont know bros.....this looks ominous

 

[pmbug]

i dont know bros.....this looks ominous

That's a graph of YOY % change. It's not really informative as a single data point. We already know that the Fed has transitioned from QE to QT, so it's not surprising that YOY % change for M2 would be falling.

Edit: Also, what does this have to do with the topic of this thread?

 

[Buck]

When I see a comment like "pull it all out" ....I feel it mandatory to ask what alternative do you suggest?

Fwiw......mine was all pulled out yrs ago

if you're asking, all you're really doing is poking my belly

but let me ask: mandatory? there are more rules here i don't know about?

but let me engage anyways...art, property, ammunition, food, more property, water rights, collectibles, pm's, ummmmm...open a business that's not really designed to make any profit at all but rather acts more like a personal, oops, business tax asset?

there's so much more: swap meet king that travels around the country exploring and making the rounds of each available swap meet, having store rooms in several locations etc...all cash basis

i'm just saying, there are reasons to type with generalities as not every idea is a relative good one, i'm certain there are more and what's not to like?

 

[cheka]

Edit: Also, what does this have to do with the topic of this thread?

i try not to clog up the board with new threads. so sometimes have to stretch to find a home for it

 

[Ttazzman]

if you're asking, all you're really doing is poking my belly

but let me ask: mandatory? there are more rules here i don't know about?

but let me engage anyways...art, property, ammunition, food, more property, water rights, collectibles, pm's, ummmmm...open a business that's not really designed to make any profit at all but rather acts more like a personal, oops, business tax asset?

there's so much more: swap meet king that travels around the country exploring and making the rounds of each available swap meet, having store rooms in several locations etc...all cash basis

i'm just saying, there are reasons to type with generalities as not every idea is a relative good one, i'm certain there are more and what's not to like?

not interested in "poking your belly"........ when i hear statements about "common sense to just pull out" .....while i agree with that statement i want to know where someone suggests putting those "moneys" ........sounds like your answer is similar to what i did with mine but if someone responds with a specific asset class i want to know and put it on my radar to consider.....for me its all about information the more the better