even as the savings incentives fail to prepare households adequately for retirement, the public loses out on increasingly large amounts of tax revenue that otherwise would have been collected without these tax breaks
We don't save enough, but the money we do save takes away from tax revenue. Do these morons ever think cutting government spending, so less tax revenue is needed, might be a good idea?
If she could get away with it, she'd confiscate all 401K funds immediately.
But, I think she knows that if she did, her life would be forfeit.
This Ghilarducci bitch is baaaaack! Crazy stupid woman. Please, someone find Mark Levin’s interview with her in which he caught her saying.... exactly THIS. That it should lead to management of private savings for a guaranteed return of f’n 3%.... and now with this little twist that “tax revenues are being missed because of the system now in place”. !!!
That’s right— tax revenue is money down a rat hole, and money OUT of the investment economy. Gone, pissed away on national debt interest, maybe, but definitely on overspending.
Hitler is being advised by a Ceauceseau-it socialist theft “economist”. The interview with Levin is priceless, and prescient.
They are coming for our private protected and investment contributing wealth. Can you say.... Greece and the German neo socialists running the EU?
The Federal Reserve cuts interests rates so people will spend money instead of saving money.
Then liberals wonder why half of American adults have no savings and no net worth.
Start with redistribution of the TIAA-CREF and government pension accounts.
Teresa Ghilarducci is widely referred to as “the most dangerous woman in America”. She has been pushing this meme for at least a decade.
Looks like they are getting ready to pull the trigger on it. The Center for American Progress came out with a similar white paper outlining how Obama could rule by decree with a phone and pen, about 90 days before he actually started doing it. When you see it on their letterhead you know the sh** is about to hit the fan.
They are also starting to drop the phrase “failed 401K scheme” in the places on the web where Lefty wackos hang out. Will be making it’s way into the MSM shortly.
This is how they are going to bail out public and union pension funds.
Government has been funding irresponsibility with our money for at least 3 generations.
Sooner or later the money train will run out and all those prepper threads may come in handy.
Good job, ALL!
You’ve said all that I wanted to say.
bkmk
I had a great IRA, and a super 401(k), but I took them with me on a canoe trip, and you’ll never believe what happened...