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| Name: |
MartiniMan
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| Subject: |
DEM PLANS FOR 401K
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Date:
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10/24/2008 2:37:17 PM
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PLANS TO NATIONALIZE OUR 401K ACCOUNTS!!! (U.S. News & World Report)
House Democrats recently invited Teresa Ghilarducci, a professor at the New School of Social Research, to testify before a subcommittee on her idea to eliminate the preferential tax treatment of the popular retirement plans. In place of 401(k) plans, she would have workers transfer their dough into government-created "guaranteed retirement accounts" for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return. Rep. Jim McDermott, a Democrat from Washington and chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, said that since "the savings rate isn't going up for the investment of $80 billion [in 401(k) tax breaks], we have to start to think about whether or not we want to continue to invest that $80 billion for a policy that's not generating what we now say it should."
This is what we will get with Obamination/Reid/Pelosi. And keep in mind that Social Security payments do not come off your AGI for federal income tax purposes like 401k does so more Americans will be subject to higher taxes, EVERYONE WITH A 401K SHOULD BE ALARMED AT THIS TAKEOVER!!!
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| Name: |
GoneFishin
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| Subject: |
DEM PLANS FOR 401K
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Date:
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10/24/2008 3:11:52 PM
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Something you and I can agree on.
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| Name: |
Talullahhound
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| Subject: |
DEM PLANS FOR 401K
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Date:
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10/24/2008 3:55:54 PM
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The truth is that this kind of stuff goes on in Washington all the time. You'd be amazed at the stuff both sides of the aisle spend money for studies on. Doesn't mean a thing. In fact, I think I've heard of this one before.
When you work in Washington, periodically you get a letter from some member of Capitol Hill annoucing that they have asked X, Y or Z to do a study and state that you are to meet and cooperate with them. Usually, in the next couple of months someone will show up in your office for a meeting and ask a bunch of questions (some of which appear to have no basis in reality). The meeting usually ends with them asking you who else they should talk to. At some time in the distant future, they publish their report on the internet and nothing else ever happens. Most of this stuff dies on the vine.
So I wouldn't be busting a gut over this.
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| Name: |
Swimmer27
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| Subject: |
DEM PLANS FOR 401K
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Date:
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10/24/2008 4:53:33 PM
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Tell that to the folks in Venezuala who had theirs 'confiscated for the common good'. And we all know that Chavez is a HERO to the left.
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| Name: |
MartiniMan
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| Subject: |
Clueless again
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Date:
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10/25/2008 8:34:51 AM
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Tallullah, you are once again being naive beyond belief. You have no idea what Obamination/Reid/Pelosi have planned, particularly if they can stop a filibuster in the Senate. I have absolutley zero doubt they will go after nationalizing the health care system, raising taxes, taking our 401k, etc.
What you may not understand is the Social Security lockbox is imaginary. The federal government spends every penny of the social security fund and payes out benefits from the general fund (i.e,m taxes we pay). Do you think for a minute they won't go after the trillions of dollars in 401k accounts under the guise of "fixing" the system so they can put the money into the general fund to spend on discretionary programs and entitlements?!?!?
The point is to go the way of Europe where more than 50% of American rely on government in one form or fashion thereby ensuring the power of the party that provides the most. When I hear politicians say they "invested" enough in 401k accounts it makes me want to pop a nut. THAT IS OUR MONEY!! I will say it again, government creates nothing! Government is that fiction where everyeone lives off everyone else.
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| Name: |
Talullahhound
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| Subject: |
Clueless again
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Date:
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10/25/2008 12:29:13 PM
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No, I'm not clueless. I understand the situation with SS. I also know how many studies in Washington that come to naught. So you go ahead and get your hair on fire and froth at the mouth. Why don't you write an outraged letter to your representative while you are at it. They'll send you back a nice little form letter thanking you for your interest. Maybe they'll commission another study in your honor.
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| Name: |
MartiniMan
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| Subject: |
Clueless again
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Date:
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10/26/2008 7:22:11 AM
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If you really understood SS and what Dems are planning you wouldn't be supporting Obamination. I actually live in the congressional district of Tom Price and he already understands what is going on is solid on this issue. Writing letters to clueless, dangerous Dems like Reid and Pelosi is a waste of our valuable natural resources.
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