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Posted on 10/16/2008 8:32:17 PM PDT by Keyes2000mt
Then again, this COULD be a ploy to GET people to cash out their 401k's and 'revive' the economy, just like when they squeezed every inflated drop of equity from their homes and maxed out their credit cards. Why not, if they think they're going to lose the money anyhow. One last party for people to strip themselves of personal wealth.
So-called tax cuts are a joke anyway, as long as the government keeps spending. They merely increase the federal deficit, and we just borrow the money from our enemies.
if the dems get away with this,
then the american working people are either asleep or they don’t care.
No, all McCain has to say is that he'll give tax cuts to 100% of the Americans that actually pay taxes. No more welfare - it's already screwed up this country enough.
What caliber?
They seem to be testing just what it will take for real people to march on Washington, torches and pitchforks in hand.
They want to get a piece of it before it’s all worthless.
Careful. That's what we decided to do. A large portion was withheld to cover taxes and penalties, but now the IRS is telling us we owe even more in taxes. (Talk about living up to one's screenname.) I'm kicking myself because not rolling it over was my idea. But, if the Dems do manage to put through this new plan, then maybe we made the right decision after all...
“...George Miller, D-Calif., and Rep. Jim McDermott, D-Wash.,.....are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.”
What, these fools haven’t yet heard of Social inSecurity?
lets email and call the mccain camp, asap!
The big lie here is in how they compute savings. The gov't uses the Keynesian idea that savings and investment are two different things. If you put money into a savings account, it is called savings by the government. If you buy stock, that's not savings, that's investing. If you buy a new truck for your plumbing business, that's investing not saving.
A couple of years ago, I tried (not all that hard) to find out what really was considered 'savings', but could not find a clear definition.
Any complaint about the 401K/IRA system for not prompting folks to save is silly on the face of it, considering how much the value of those funds had increased over the years, or how much was flowing into those accounts.
All the more reason for a 10% flat conumption tax...abolish the IRS and get the government out of the PANDERING and EMPTY PROMISES business every election cycle.
And corporate boards, who can ignore individual shareholders, when they are mostly invested via 401(k) mutual funds.
TANSTAAFL
This is a battle between the DemocRATS and lower paid workers.
“The savings rate isn’t going up for the investment of $80 billion”
He thought the money was his to begin with. He thinks his letting people invest their money safe from lefty spending is an investment. This is the whole problem with everything in a mere 12 words.
“This could be a devastating commercial for McCain.”
My thought also.
Wouldn’t you just know that Jim McDirtmouth is working on this one. We get ever closer to the brink, don’t we?
Key word here: OBLIGED!!!!!
The Democrats are giving us a glimpse of their radical agenda, which Obamam will sign into law.
This is a new version of Social Security -- forced contribution and likely not seeing a dime of it by the time retirement comes around. They just want to take more money from the people.
I bet most Obama voters have no clue about this.
My folks lost over 100K in their 401(k) - they’re worried...
They’re really concerned about the Dem plan with raising taxes...
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