[Im4realamerica]

Great info to act on if Wednesday really sucks!!!

[neocon1984]

If only they were that stupid.

[originalbuckeye]

the New School for Social Research

I wonder if this is an 0bama-Ayers funded type school. Sounds like it.

[Hadean]

“I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.” Under the current 401(k) system, investors are charged relatively high retail fees, Ghilarducci said. “I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ghilarducci said.

That gets my blood boiling.

[ButThreeLeftsDo]

WelcomeTo FreeRepublic!

401k

[DoughtyOne]

Everyone knows that only selfish people contributed to 401(k)s anyway. /s

[groanup]

Leave it to democrat left nuts to read a paper by some academic moonbat and try to take away a reliable tax deduction and a vehicle that has successfully created great wealth.

Idiots.

[Infidel Puppy]

Once upon a time, there was a remote, detached, culturally alien government that just went one damned step too far...

[pray4liberty]

Sure Congress, go ahead and take my 401K, I’ll take your retirement plan in trade. Share the wealth, you know. /sarc

[I_Like_Spam]

This sounds like the Democrats’ plan to bail out social security , a 5% extra levy on everyone’s wages should be enough to pay the social security benefits for the baby boomer generation.

Calling it “savings” is just a new tilt on it to give the scam resiliency once people have a considerable amount “invested” in it.

[MrFred]

http://digg.com/business_finance/House_Democrats_Contemplate_Abolishing_401_k_Tax_Breaks_2

digg it if you havent already.

[yazoo]

I sure hope they try it, and Pelosi is just stupid enough to let them bring to a floor vote. There’d be so many Congressmen running for cover it would look like a bad 1950’s Godzilla movie.

[RetiredArmy]

Try searching. This was first posted the first of last week. In several different ways, so probably up two or three times.

[CitizenM]

Obama in the WH = Democrat Administration + Democrat majority in Congress = Disaster for Americans’ retirement plans!

No Balance of Power in Government will result in the Democrats running run ram-rod over our money, economy, capitalism, and freedoms.

The engine is in motion...steam is up...The wheels are turning.

With Obama in the Engineer's seat, the government will be like

a steam locomotive with a cow-catcher on front tearing into Americans' fields of dreams and savings!

[The Great RJ]

workers...would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.

This is just another payroll tax like Social Security with IOUs from the government backing any measly benefit that you might receive if the government says so. If you die all this money of course will just be the governments and not pass to your heirs.

[Mike Darancette]

If the contribution is not tax deductible might as well have a Roth IRA.

[Theodore R.]

Apparently a lot of 401(k) holders are supporters of Oprah’s Obama. It will be nice to see those Obamamaniacs “sacrifice” for the “public good”.