Posted on 10/22/2008 11:59:13 AM PDT by ncfool
Lead by Nancy Pelosi the congress is now the socialist party of America.
Think about how millions of employees are invested in 401K plans and the impact this would have again on the national financial markets.
Why is the dow down again today 400+ points it because of the Democrats trying to destroy the American Capital market.
We need to rise up and vote against any rat running for office.
Sine all union members have this benefit, how is it they are supporting the very people who are going to take their money away? This makes no sense at all, why on earth would a union or union member support this party?
How much you want to bet that Democrats have their eye on eliminating the Roth IRA?
Just a whiff of this possiblity will tank all the markets down a permanent 50%.
Democrats are proving once and for all that they are the enemy within. Time to fight.
It’s tax deferred savings. When you retire and tap the account you pay the taxes then. Remove the benefit and people will stop saving and companies will stop matching.
Of course if we had a fair tax system of say 15-17% on eveyone then we wouldn’t need all of these various incentives.
“Yeah, I know you all put money in the Roth IRA based on the promise of tax free gains, but, we want that money, so we’re just going to do like we always do,
and change the rules after the game has been played.”
They seem to ignore we already contribute to a retirement system for all workers and we are forced to contribute to it.
Dumb ass journalist, never thought about asking that? It’s called SOCIAL SECURITY and a little over 12% of our earnings are taken to go towards that (6% ours, 6% employers’ budget for us).
This is bullsh1t. Utter bullsh1t. They’re trying to kill off private investment ability and take down businesses all at the same time.
The Red Revolution in the USA (to make us the USSA) is now underway. Guess that makes us the white army. Hopefully we do better than the Russian white army did.
If it moves, tax it.
If it's stationary, confiscate it.
McCain/Palin should address this infantile brain storm.
The left is simply not fit to lead.
The Democrats are looking for a way to save social security. If they can redirect your 401K contributions to another government controlled program, they can avoid painful changes to social security. This will be just a stealth payroll tax that funds social security and other government programs.
There is no doubt that the ERISSA law governing 401ks needs revision. It needs revision to give employees more control of their money, not less control.
Leftist insanity
Down 380 points right now. Thanks Nancy Pelosi and the Rat party!
Private Retirement accounts should be just as dangerous a 3rd rail for politicians to touch as SS.
Then send the link to all your friends on your email list........
IMHO, it's a ruse to fund SS...that's how I see it. It has nothing to do with the tax deferral issue...they need more money to fund SS and this account would be administered by SS.
I’m OUTRAGED!!!!!
Do it. Destroy the retirement of most of america’s working middle class. I dare ya.
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