George Bush!
Sadly, I believe this is the first shot across the bow of confiscating our IRAs. While the latter idea has been bouncing around for a while, there was no real mechanism for doing so. Now I think they have it.
According to this statement, there will be no fees. On another thread I saw that the Treasury will hire a private investment firm so I guess taxpayers will foot the bill for this new program.
If you like your retirement money, you can keep your retirement money.
So, the people who brought us 0bamacare want to be in charge of our retirement savings?
If you want to keep your retirement savings, you can keep your retirement savings. PERIOD!
Lemme see:
“Loan us money, we’ll pay you back with dollars that are worth less the ones you loaned us, and we will squander the money anyway so, when the main part of the bill comes due, we won’t be able to pay you anyway even with debased currency.”
It says its “hassle free”. Count me in. I never would say.
Another ponzi scheme for the government to get its hands on poor people’s money.
‘And left on their own, few workers save”
The Plan. No one is to be left alone by the Federal Work Camp. All part of Arbeitsziehungslager, which is a type of “education”——re-education.
They tried to get it through Extortion-Care, and it’s not coming fast enough for term-due payments.
And they can’t shutdown QEs without fast $.
This is more than mission-creep, as Social Security is a redundancy.
Beware Americans. You are about to be fleeced again.
The machinations of marxists. We’ll help you buy our debt while we continue to live large…overlord style. The rest of you, not buying the debt we created, will have a certain amount of your savings appropriated by the powers that be.
http://www.youtube.com/watch?v=jIfu2A0ezq0
This echoes the old “Buy U.S. Savings Bonds on the Payroll Savings Plan” or the current TSP G-fund available to federal workers. If the regime is correct that only 10% of the workforce eligible to participate in a 401(k) program do so, this is all so much noise as there’s no reason to assume there would be a large participation in this scheme.
If people are too lazy to go to a damn bank or find some IRA online or AT LEAST save some money in a savings account, what is going to get them to buy this stupid MyRA? Meanwhile, there will be a new czar with staff, some new bureau with staff, all kinds of BS to go through, to get this product ready for no one to buy. And I don’t think he can just create this kind of thing without some Congressional backing? UGGGH.
modify it so a portion of the social secuirty goes there instead of this new scam.
“Over the past five years, our country has accomplished a number of big things.”
Over the past FIVE YEAR PLAN our MARXISTS have stolen big things.
You can put away as little as $5 a paycheck. Let’s see...$120 a year...for say, 50 years...that’s $6000! THAT’LL help you breeze through your retirement years! And that’s $6000 in future dollars. (The inflation will eat up any interest you earn, plus some.)
This makes no sense. The Roth IRA is a terrific retirement plan. The only problem is those CDs are paying next to 0 interest, so there’s no “power of compounding” and the funds don’t grow.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.
http://www.archives.gov/exhibits/charters/declaration_transcript.html
—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
“Secure until the day you die...”