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Post 01 Oct 2015, 23:45
Hi!

I actually work in finance (though I tend to lean Social Democrat) and I'm interested in learning a bit more, as a friend and I usually have debates about economics and politics while drinking.

Obviously there are academic sources I can peruse, but it's more fun to hear it from other people.

So hello!
Post 02 Oct 2015, 02:56
Welcome to SE.

There's a full spectrum of thought here, from rigid Stalinists to modern Russian nationalists to left leaning Democrats, etc.

Are you from Ireland?
Post 02 Oct 2015, 05:37
I'm actually American. My name is in reference to a tax-deferred savings plan that predates the Investment Retirement Account, which is called an IRA (pronounced eye-rah or eye-ar-ay) over here. It was originally named after a congressman (or senator? I forget) who was trying to establish tax-deferred savings accounts for small business owners back in the early 1900's.

Funny Story: Some American retailer, I forget which, was establishing new stores in Ireland. All pay stubs tend to be the same within a given company from the CEO to the lowliest shop boy, except when they're in different countries because of different tax codes. The Irish stores, being new and bereft of pay stubs made specifically for their region, used American pay stubs which listed 401k*/IRA pre-tax deferments from their pay stubs to a retirement account.

Imagine the confusion the Irish employees had when their pay stubs showed deductions to their IRA.

*Without going into too much detail, a 401K is basically an IRA a company sets up for you. It has higher contribution limits, but limited investment options. I can go further into this if anyone cares.
Post 02 Oct 2015, 06:15
Welcome to S-E. We are kinda like HiFo nowadays, more a resource than a community. But we try.
Post 17 Oct 2015, 17:01
401k are political slush funds where investment companies retain influence over capital already expended as wages.
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