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Keyword: ira

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  • Murphy acquitted over Omagh bombing (Real IRA)

    03/03/2010 2:53:39 PM PST · by happinesswithoutpeace · 7 replies · 355+ views
    The Irish Times ^ | Thursday, February 25, 2010 | The Irish Times
    Murphy acquitted over Omagh bombing COLM MURPHY walked free from the Special Criminal Court in Dublin yesterday after he was cleared at a retrial of a conspiracy charge in relation to the 1998 Omagh bombing which killed 29 people and injured more than 300. Mr Murphy said after being acquitted of the charge: “I am glad to see it’s all over. Find out who was behind it – MI5 agents setting people up.” The three-judge non-jury court ruled that there was no evidence upon which the court could have convicted Mr Murphy after it ruled that all the evidence of...
  • US Labor Department rules to improve retirement security announced

    02/26/2010 4:28:07 PM PST · by mdittmar · 14 replies · 685+ views
    PR Newswire ^ | Feb. 26,2010 | U.S. Department of Labor
    Rules enhance retirement advice and transparency for workersWASHINGTON, Feb. 26 /PRNewswire-USNewswire/ -- Today, at a White House forum hosted by Vice President Joe Biden, the U.S. Department of Labor announced two new rules designed to enhance retirement security and transparency for the millions of workers covered by 401(k), pension and other retirement arrangements.  The announcement was part of the White House Middle Class Task Force's year-end report, which the vice president released at this morning's event. During the past year, the Middle Class Task Force has focused on solutions to the challenges facing America's middle class — including retirement security...
  • Class Warfare's Next Target: 401(k) Savings

    02/18/2010 8:03:31 AM PST · by Red Badger · 114 replies · 4,337+ views
    Investor's Business Daily ^ | 2-17-2010 | By NEWT GINGRICH AND PETER FERRARA
    You did the responsible thing. You saved in your IRA or 401(k) to support your retirement, when you could have spent that money on another vacation, or an upscale car, or fancier clothes and jewelry. But now Washington is developing plans for your retirement savings. BusinessWeek reports that the Treasury and Labor departments are asking for public comment on "the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams." In plain English, the idea is for the government to take your retirement savings in return for a promise to pay you some monthly benefit...
  • Class Warfare's Next Target: 401(k) Savings

    02/17/2010 5:40:59 PM PST · by Kaslin · 173 replies · 4,781+ views
    Investors.com ^ | February 17, 2010 | NEWT GINGRICH AND PETER FERRARA
    You did the responsible thing. You saved in your IRA or 401(k) to support your retirement, when you could have spent that money on another vacation, or an upscale car, or fancier clothes and jewelry. But now Washington is developing plans for your retirement savings. BusinessWeek reports that the Treasury and Labor departments are asking for public comment on "the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams." In plain English, the idea is for the government to take your retirement savings in return for a promise to pay you some monthly benefit...
  • Troops deliver wheelchairs to disabled Iraqis

    02/16/2010 7:24:08 PM PST · by SandRat · 1 replies · 208+ views
    U.S. Forces Iraq ^ | Sgt. Samantha Beuterbaugh, USA
    BAGHDAD – U.S. Soldiers here with the 4th Stryker Brigade Combat Team, 2nd Infantry Division, delivered handcrafted wheelchairs to two disabled Iraqis in the Aqur Quf area of the capital city, Feb. 10. Three weeks ago, the two disabled Iraqis were pointed out by local shaykhs, said 1st Lt. Steven DeWhitt, a San Jose, Calif., native and platoon leader with Headquarters and Headquarters Company, 1st Battalion, 38th Infantry Regiment. Members of the embedded Provincial Reconstruction Team and the U.S. Agency of International Development helped the shaykhs coordinate with U.S. forces to have the two wheelchairs delivered. The recipients of the...
  • The Treasury Is Soliciting Your Feedback Regarding The Proposed Annuitization Of 401(k)

    02/01/2010 1:24:06 PM PST · by Cheap_Hessian · 37 replies · 1,503+ views
    ZeroHedge Blog ^ | February 1, 2010 | Tyler Durden
    Yes, slowly but surely it is happening. In a federal notice filed earlier, the DOL and Treasury are soliciting a response on what has been on many investors' mind, namely the process of converting 401(k)s into annuity-like products. To wit: The Department of Labor and the Department of the Treasury (the "Agencies") are currently reviewing the rules under the Employee Retirement Income Security Act (ERISA) and the plan qualification rules under the Internal Revenue Code (Code) to determine whether, and, if so, how, the Agencies could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored...
  • The Unloved Annuity Gets a Hug From Obama

    01/30/2010 4:50:00 AM PST · by abb · 47 replies · 1,228+ views
    The New York Times ^ | January 29, 2010 | Ron Lieber
    Annuities: The official retirement vehicle of the Obama administration. As slogans go, it’s hardly “Keep Hope Alive,” or even “Change We Can Believe In.” But there were annuities, in a report from the administration’s Middle Class Task Force that came out this week. They are among the tools the administration is promoting as it tries to give Americans a better shot at a more secure retirement. At its simplest, which is how the White House seems to want to keep it, an annuity is something you buy with a large pile of cash in exchange for a monthly check for...
  • When can I withdraw my 401(k) Funds

    01/28/2010 3:55:00 PM PST · by pfflier · 17 replies · 980+ views
    Vanity
    I am 59 years old. (People who know me are truly amazed I made it this far). Anyway, I've been all over the internet trying to find out...when exactly am I am 59 1/2 years old. I know that is the magic number for tapping into the 401(k) and IRA without having to pay a penalty for early withdrawal.The simplest guess would be the six month anniversary of my birthday. Does the IRS consider that the day? Or could it be just six months after my birth month? Could it be the 180th calendar day after my birthday? Or the...
  • To Roth or not to Roth?

    01/24/2010 11:20:52 AM PST · by Graybeard58 · 32 replies · 1,279+ views
    Waterbury Republican-American ^ | January 24, 2010 | Eileen Ambrose
    The buzz in the financial industry right now is about Roth IRA conversions. Starting this year, there is no longer an income cap to convert a traditional individual retirement account or 401(k) into the tax-friendly Roth. Essentially, everyone now has access to a Roth. Congress did this to generate tax revenue. Contributions to a traditional IRA and 401(k) are often made with dollars that haven't been taxed yet. When you convert an account to a Roth, you must pay regular income tax on the amount being converted. Once in the Roth, though, your money and any earnings can be withdrawn...
  • Obama to meddle with your retirement accounts?

    01/14/2010 7:16:44 PM PST · by antidemoncrat · 42 replies · 1,565+ views
    World Net Daily ^ | 1/14/09 | Jerome R. Corsi
    The Obama administration appears to have come up with a novel way of financing trillion-dollar budget deficits – demanding IRA and 401(k) holders buy trillions of dollars in Treasury bonds.
  • The Coming Confiscation of Retirement Accounts

    01/09/2010 9:46:42 AM PST · by Captain Peter Blood · 78 replies · 3,822+ views
    Stephen A. McIntyre | 01/09/2010 | Stephen A. McIntyre
    About a year ago I saw an article about the Argentinean Government proposing a bill that would in effect nationalize all of their 401K/IRA type retirement accounts. Well as of November, 2009 that has now become a reality, over $29 Billion in retirement accounts have now been seized by the Government and they will use that money to pay down debt. As I remember the plan the poor owner of that account would get Government issued bonds that will pay between 2 and 3% to replace those monies the government takes. You can read this article from the London Telegraph...
  • Files show US-UK tensions over Northern Ireland in 1979

    12/30/2009 5:35:05 AM PST · by Labour-Watch · 40 replies · 694+ views
    BBC ^ | 12/30/2009 | Victoria King
    Newly-released documents have revealed the UK's "special relationship" with the US was under strain at the height of the Northern Ireland Troubles. The National Archives files show the murder of Lord Mountbatten by the IRA in 1979 did not prompt the response from the US that the UK had hoped for. While president Jimmy Carter expressed his "profound sadness" at the death, he made no reference to terrorism. Downing St privately said his failure to condemn the IRA was a "deficiency". The murder of Lord Mountbatten by the IRA on 27 August 1979 sparked shock and anger around the world....
  • Why It May Pay to Convert to a Roth IRA

    12/29/2009 2:39:19 PM PST · by george76 · 15 replies · 1,238+ views
    wsj ^ | December 29, 2009 | Kelly Greene
    Investors and financial advisers are preparing to take advantage of a new tax law that makes it easier to gain access to Roth IRAs—even if it means breaking a sacrosanct rule about Roth conversions. Starting, Jan. 1, the $100,000 income limit disappears for converting traditional individual retirement accounts and employer-sponsored retirement plans to Roth IRAs, one of the biggest changes on the IRA landscape in years. Roths, of course, have long been viewed as one of the best deals in retirement planning; after investors meet holding requirements, virtually all withdrawals are tax-free. Just how many investors will make the leap...
  • Ex-IRA ledaer Gerry Adams to 'find Jesus' in new TV show; Christian conservative politician outraged

    12/22/2009 12:49:01 PM PST · by noozguy1 · 9 replies · 504+ views
    IrishCentral.com ^ | 12/22/2009 | Donal Thornton
    Gerry Adams is set to find Jesus in a new documentary. The Sinn Fein leader will present one episode of a seven part documentary called "The Bible: A History." The documentary will be aired on the popular British TV station Channel 4. The documentary will analyze the "contradiction between Jesus' teachings and the involvement of Christians, followers of other faiths, in conflict the world over." The documentary will also look at Adams' unique perspective on faith, as he is a "former supporter of political violence."
  • New IRA terror group forms

    12/13/2009 2:46:48 PM PST · by noozguy1 · 119 replies · 1,764+ views
    IrishCentral.com ^ | 12/13/2009 | Patrick Roberts
    A new dissent Republican group may be forming in Northern Ireland. The organization would include dissidents that have defected from the Continuity IRA and the Real IRA. The group will not have a name, with the deliberate aim of confusing members of the security forces.
  • Former IRA militant deported to Ireland

    08/22/2009 1:45:28 AM PDT · by Cindy · 3 replies · 588+ views
    Note: The following text is a quote: August 21, 2009 Former IRA militant deported to Ireland Pol Brennan was convicted of transporting firearms and explosives for the Irish Republican Army HARLINGEN, Texas - U.S. Immigration and Customs Enforcement (ICE) deported a former Irish Republican Army (IRA) militant and convicted criminal to Ireland on Friday. Pol Brennan, 56, was deported following a series of criminal convictions in the United Kingdom and the United States. Brennan's case received full review and consideration by the immigration court system. On order of the Immigration Judge and the Board of Immigration Appeals, Brennan was detained...
  • Clean Water Flows to Ninewa Homes

    07/26/2009 1:15:59 PM PDT · by SandRat · 3 replies · 462+ views
    Multi-National Force - Iraq ^ | 2nd Lt. Jeff Orban, USA
    The Tall Ashier water station manager inspects the flow of clean water from his station. Ribbon cutting ceremonies were held for two water stations built in the Qayyarah sub-district of Ninewa province, south of Mosul, July 23. Photo courtesy of 1st Cavalry Division. MOSUL — Ribbon cutting ceremonies were held for two water stations built in the Qayyarah sub-district of Ninewa province, south of Mosul, July 23. These projects will dramatically increase the amount of homes that receive water and are a part of an ongoing campaign to provide the people of Iraq with essential goods and services.The first ribbon...
  • Converting an I.R.A. Into a Roth? How’s Your Crystal Ball?

    07/18/2009 5:19:45 AM PDT · by reaganaut1 · 8 replies · 857+ views
    New York Times ^ | July 18, 2009 | Ron Lieber
    You’ll be hearing a lot in the next six months about Roth Individual Retirement Accounts — but not as much as you should about a long-term threat that hangs over them. ... Why would you want to [swap a regular for a Roth IRA]? Because you think you or your heirs could end up with more money over the long haul by investing in a Roth instead of a regular I.R.A. ... It all seems pretty simple, until you consider this: The tax laws might change substantially, throwing all of your careful planning into utter disarray. We’re currently staring down...
  • Obama IRAs Could Raise $100 Billion in Five Years (nothing about medical savings accounts)

    07/11/2009 7:11:20 PM PDT · by Libloather · 16 replies · 980+ views
    Obama IRAs Could Raise $100 Billion in Five YearsBy Money Management Executive July 8, 2009 One of President Obama’s proposed financial reforms would require employers that do not offer a 401(k) to automatically enroll their employees into an IRA. If implemented, it would give the biggest boost to the retirement savings industry since the creation of the 401(k) in 1980, enrolling 40 million new investors, and attract more than $100 billion within five years, The Wall Street Journal reports. It would require companies with 10 or more workers that have been in business for at least two years to participate....
  • Accused Cuba spy 'sought to be US envoy to Northern Ireland'

    06/14/2009 9:23:26 PM PDT · by Tailgunner Joe · 3 replies · 478+ views
    telegraph.co.uk ^ | June 10, 2009 | Toby Harnden
    Kendall Myers, 72, who appeared in federal court in Washington on Wednesday charged with spying for Havana for nearly 30 years, had a fascination with Northern Ireland. The Daily Telegraph has established that as well as seeking the envoy's post, which carried the rank of ambassador, Mr Myers travelled to the British Isles and met British and Irish officials, senior Northern Ireland politicians and intelligence officers. .... "Anything this guy could have found from his European responsibilities he might have funnelled to the Cubans for them to sell off," said John Bolton, a former top State Department official in the...
  • Former State Department Official and Wife Arrested for Serving as Illegal Agents of Cuba...

    06/05/2009 4:00:39 PM PDT · by Cindy · 26 replies · 1,260+ views
    Note: The following text is a quote: Former State Department Official and Wife Arrested for Serving as Illegal Agents of Cuba for Nearly 30 Years Couple Allegedly Conspired to Provide Classified Information to Cuban Government A former State Department official and his wife have been arrested on charges of serving as illegal agents of the Cuban government for nearly 30 years and conspiring to provide classified U.S. information to the Cuban government. The arrests were announced today by David Kris, Assistant Attorney General for National Security; Channing D. Phillips, Acting U.S. Attorney for the District of Columbia; Joseph Persichini, Jr.,...
  • IRA Conversions to Roth IRA Before Obama Taxes Kick In

    06/06/2009 1:57:06 PM PDT · by VA Voter · 18 replies · 1,216+ views
    As painful as it is to pay taxes, tax effective strategies for those 59 1/2 and older should now consider IRA conversions to Roth IRAs in order to avoid oppressive future Obama tax rates. If you are unemployed with or without a rollover 410k, if your 2009 income will be significantly reduced, or if you beneficiaries would be subject to a significant future tax hit you may be particularly well suited for such a strategy. Please consult your tax advisor....
  • Larijani In Yemen On Reassurance Visit

    05/17/2009 11:51:23 PM PDT · by Cindy · 1 replies · 476+ views
    Blog Note: The following blog entry is a quote: Larijani In Yemen On Reassurance Visit The London daily Al-Sharq Al-Awsat reports that Iranian Majlis speaker Ali Larijani is visiting Yemen to reassure it regarding fears of Iranian involvement in rebel activity in southern Yemen, and regarding activity by the Houthis in the Sa'ada district in northern Yemen. Senior Yemeni officials have accused Iran of supporting the Houthis (see Yemeni Official: Iran Clearly Involved In Al-Houthi Rebellion). According to the report, Larijani told Yemen President Ali Abdallah Saleh that his country supported Yemen's stability and security. Source: Al-Sharq Al-Awsat, London, May...
  • Iraqi Security Forces, U.S. Soldiers Secure Busy Marketplace in Taji

    05/08/2009 7:26:13 PM PDT · by SandRat · 1 replies · 349+ views
    Multi-National Force - Iraq ^ | Sgt. Doug Roles, USA
    Army Spc. Adam Feldon talks with an Iraqi boy May 4, 2009, as a patrol of Pennsylvania Army National Guard Soldiers and Iraqi Police officers moves through Taji Market, north of Baghdad. U.S. Army photo by Sgt. Doug Roles. TAJI — Iraqi Security Forces and U.S. Soldiers have been hitting the streets, working together to maintain security in Taji Market, one of the busiest sectors of the 56th Stryker Brigade Combat Team’s area of operations north of Baghdad. The market is a lynchpin in the security effort because it’s where the lives of locals intertwine. “Being the main market area, that’s...
  • Troops in Iraq Capture Suspects, Weapons

    05/07/2009 4:36:34 PM PDT · by SandRat · 1 replies · 278+ views
    WASHINGTON, May 7, 2009 – Coalition and Iraqi forces swept up weapons and insurgents during three days of operations in Iraq this week, military officials said. During operations May 5 in southern Iraq’s Maysan province, Iraqi forces found a weapons cache containing more than 300 munitions and various military equipment. Troops discovered the contraband inside a house in the city of Amarah. The Iraqi security units are partnered with the 1st Cavalry Division’s 2nd Battalion, 7th Cavalry Regiment, 4th Brigade Combat Team, in Maysan in efforts to rid the region of illegal weapons and criminal activity. In the Mansour and...
  • Leaders Bid Farewell to Diyala Governor

    05/07/2009 4:12:10 PM PDT · by SandRat · 1 replies · 189+ views
    DIYALA — Coalition leadership recently gathered to bid farewell to former Diyala provincial Governor Ra’ad Hameed Al-Mula Jowad Al-Tamimi here at Forward Operating Base Warhorse. The event was planned as a way to thank Tamimi for his service to the province and country while serving as the Diyala governor for the past four years. Soldiers from the 1st Stryker Brigade Combat Team, 25th Infantry Division worked for the last seven months with Tamimi, who has also partnered with four other Coalition brigades and interacted with countless servicemen and women, as well as members of the State Department, during his tenure...
  • Terror police in hunt for Brit bomb cell number 2

    PHOTO CAPTION: "A second al-Qaeda terror cell is believed to be planning carnage in the UK." SNIPPET: "Senior security sources last night revealed they are hunting extremists aiming to bomb a location such as a nightclub or shopping centre. They believe the cell will target London rather than the North- West, where 11 men were arrested on Wednesday, as the capital holds more "international significance"." Evidence gleaned from the arrests was revealed to Cobra, Whitehall's emergency committee of intelligence chiefs and ministers.
  • Sinn Fein's Gerry Adams: Gaza is an open-air prison

    04/10/2009 7:27:50 AM PDT · by SunkenCiv · 15 replies · 719+ views
    Haaretz Correspondent and Agencies ^ | Friday, April 10, 2009 | Amira Hass
    Sinn Fein leader Gerry Adams Thursday denounced the Israel-led blockade on Gaza as having turned the coastal strip into an "open-air prison," news agencies reported. "This is a total denial of the rights of the people of Palestine. This is an open-air prison," The Guardian quoted the Sinn Fein president as saying during a visit to the Hamas-ruled territory. "People can't travel out of here, they can't travel in." Adams met with the head of the internationally-shunned Hamas government during a two-day visit to Gaza, and said he plans to brief President Obama's special Mideast envoy about his contacts. "Mr....
  • IRA plotting to kill Princes William, Harry: Report

    03/15/2009 3:18:58 PM PDT · by MyTwoCopperCoins · 26 replies · 1,058+ views
    The Times of India ^ | 16 March, 2009 | PTI
    LONDON: The security cover for Britain's Princes William and Harry has been stepped up over fears that IRA terrorists are plotting to assassinate the royals, a news report said on Sunday. Scotland Yard fears the Princes, who are officers in the British Army, are prize targets for Irish Republican Army (IRA). The number of close protection officers guarding the two royals on each shift has been increased, Britain's Sunday Express reported today. The threat level has been upgraded following the murders of two soldiers and a police officer in Northern Ireland. "The Princes are regarded as legitimate targets by these...
  • Northern Ireland tense as officials hunt for smuggled bomb

    03/12/2009 12:25:58 PM PDT · by 82ndABNOfficer · 1 replies · 434+ views
    The Christian Science Monitor ^ | 3-12-2009 | Jason Walsh
    DUBLIN, Ireland – A security alert has been issued today in the Northern Ireland town of Ballykinler, the site of a British Army base.
  • Once a terrorist...always a terrorist

    03/10/2009 12:16:27 PM PDT · by Briton · 13 replies · 424+ views
    The Sun (UK) ^ | 10 March 2009 | Fergus Shanahan
    IF the Mafia were handed power in New York, would anyone expect them to go straight? It’s the same with the IRA and Northern Ireland. The price of Tony Blair’s appeasement of the IRA was that terrorists were allowed to share power. And now the terrorists have fallen out among themselves. That’s why two British soldiers have been murdered. We’ve all been worrying about Islamic attacks. Yet suddenly we face a renewed terror campaign on our own soil. It must come as a shock to anyone who doesn’t remember how Ulster violence dominated the news for decades. Blair’s Ulster peace...
  • Breaking: Police officer shot dead in Ulster attack

    03/09/2009 6:03:41 PM PDT · by balls · 5 replies · 449+ views
    The Times (UK) ^ | Tuesday March 10, 2009 | Paul Mcerlane
    The attack took place while the officer was investigating suspicious activity David Sharrock, Ireland Correspondent A police officer died tonight after being shot in an attack in Northern Ireland, the third member of the security forces to die in the last 48 hours. It marked a dangerous and sudden escalation in violence in the province which threatened to draw a counter-reaction from loyalist paramilitaries. “We are tonight staring into the abyss,” said Dolores Kelly, a member of the nationalist SDLP who sits on the province’s policing board. “I would appeal to people to pull back. “I certainly would want to...
  • Policeman killed in Northern Ireland shooting(Real IRA suspected)

    03/09/2009 5:31:08 PM PDT · by the scotsman · 25 replies · 692+ views
    BBC News ^ | 10th March 2009 | BBC News
    A police officer has died following a shooting incident in Craigavon, County Armagh. The incident is understood to have happened near Lismore Manor in the Brownlow area as police investigated reports of suspicious activity. The attack follows the weekend murder of two soldiers outside an Army base in Antrim. The Real IRA said they were responsible for that shooting. Politicians have condemned the latest killing of a security force member. DUP assembly member David Simpson described the attack as an "outrage" and said those behind it were "vermin". "What we have seen over the last 36 hours is a deliberate...
  • 2 British soldiers killed in N. Ireland gun ambush

    03/08/2009 6:36:32 AM PDT · by presidio9 · 126 replies · 4,730+ views
    Associated Press ^ | March 8, 2009 | SHAWN POGATCHNIK
    Suspected IRA dissidents opened fire on British troops and pizza delivery men outside a Northern Ireland army base, killing two soldiers and wounding four other people. Police said Sunday the attackers fired on their victims again as they lay wounded on the ground. Saturday night's attack at the entrance to Massereene army barracks in Antrim, west of Belfast, was the first killing of British troops in Northern Ireland since 1997. Its callousness, in targeting soldiers and civilians alike, appeared calculated to inflame community tensions and undermine Northern Ireland's Catholic-Protestant administration. "The whole country is shocked and outraged at the evil...
  • Vanity - Financial Advice

    02/27/2009 6:57:02 PM PST · by Washi · 37 replies · 967+ views
    Self | 2/27/2009 | Washi
    I know that there are several knowledgeable people on this board, so I'm coming to you with a decision that I've been wrestling with for weeks. Conventional wisdom dictates that, unless absolutely necessary, you should leave your 401K/IRA alone. In normal times, I understand the reasons why that is wise, and agree whole-heartedly. But does that apply to our current economic environment? I have an IRA and a 401K. The IRA is in an index 500 account (closely tied to the S&P) and I have not paid anything into it for over 10 years. I still pay enough into the...
  • Congress mulls major 401(k) changes

    10/09/2008 6:13:51 AM PDT · by rellimpank · 141 replies · 4,507+ views
    Investment News ^ | 08 oct 08 | Sara Hansard
    A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans. Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans. This was suggested by the chairman of the House Committee on Education and Labor. “With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said.
  • Congress mulls major 401(k) changes (The Obama Retirement Ripoff of 2009)

    10/09/2008 11:25:48 PM PDT · by Fred · 76 replies · 37,749+ views
    Investment News ^ | 100708 | Sara Hansard
    A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans. Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans. This was suggested by the chairman of the House Committee on Education and Labor. “With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said. “We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks...
  • House Democrats contemplate abolishing 401(k) tax breaks

    10/16/2008 8:32:17 PM PDT · by Keyes2000mt · 223 replies · 10,539+ views
    Investment News ^ | 10/12/2008 | Sara Hansard
    Powerful House Democrats are eyeing proposals to overhaul the nation's $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. House Education and Labor Committee Chairman George Miller, D-Calif., and Rep. Jim McDermott, D-Wash., chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy analysis at The New School for Social Research...
  • House Democrats Aim to Remove 401k Tax Breaks

    10/22/2008 9:42:21 AM PDT · by Bodhi1 · 113 replies · 3,607+ views
    All American Blogger ^ | 10/22/08 | Duane Lester
    For those who don't know, here's what it is in a nutshell: Employee 401k contribution are automatically deducted from their paycheck each pay period. This money is taken out before the employees paycheck is taxed. The contributions are invested at the employees direction into one or more funds provided in the plan. Employers often "match" employee contributions, but are not required to do so. While the investments grow in the employees 401k account, they do not pay any taxes on it. The individual is using his or her property to ensure a prosperous future before the government has a chance...
  • House Democrats Contemplate Abolishing 401(k) Tax Breaks

    10/22/2008 11:59:13 AM PDT · by ncfool · 109 replies · 7,112+ views
    Workforce ^ | 10/22/2008
    House Democrats Contemplate Abolishing 401(k) Tax Breaks Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy analysis...
  • House Democrats Contemplate Abolishing 401(k) Tax Breaks

    10/22/2008 6:05:30 PM PDT · by Chgogal · 129 replies · 5,816+ views
    Workforce Management ^ | October 16, 2008 | Sara Hansard
    Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive..... “The savings rate isn’t going up for the investment of $80 billion,” he [Democratic Congressman George Miller] said. “We have to start to think about ... whether or not we want to continue to invest that $80 billion for a policy that’s not generating what we now say it should.” “From where I sit that’s just crazy,” said John Belluardo, president of Stewardship Financial Services Inc. in Tarrytown, New...
  • Democrats to kill 401(k)s for … privatized Social Security?

    10/23/2008 6:52:48 AM PDT · by indianyogi · 70 replies · 5,271+ views
    McCain -- go after them the Democrates. The Democrats want to end the private retirement system that has allowed Americans to become a vast investor class and put them back in thrall of the federal government. This is nothing more than a second welfare system that would sit on top of the crumbling Social Security entitlement. It would leave the American working and middle classes with no retirement option other than a government handout. If the Democrats control both Congress and the White House, kiss your 401(k)s goodbye, and get into the bread lines first before the crowd arrives. (via...
  • Biden: "Their pensions go first"

    10/24/2008 9:46:03 AM PDT · by magellan · 58 replies · 2,059+ views
    AP via Google News ^ | October 23 2008 | Steven K. Paulson
    Biden lashes out at corporate greed at Colo. stopCOLORADO SPRINGS, Colo. (AP) — Democratic vice presidential candidate Joe Biden said Wednesday it's unfair that executives of failed corporations are paid millions of dollars while their employees lose their pensions. Biden vowed that he and Barack Obama would attack corporate greed if they're elected. Biden took direct aim at executives who draw big salaries while leading failed companies. "Their pensions go first," he told a roaring crowd.
  • House Democrats Contemplate Abolishing 401(k) Tax Breaks

    10/24/2008 2:04:09 PM PDT · by RetiredArmy · 129 replies · 4,826+ views
    Workforce Management ^ | October 16, 2008 | Workforce staff
    House Democrats Contemplate Abolishing 401(k) Tax Breaks Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-HAMAS (Washington), chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy...
  • House Democrats contemplate abolishing 401(k) tax breaks

    10/26/2008 4:08:30 PM PDT · by Salman · 3 replies · 1,212+ views
    Crain Communications Inc. ^ | October 12, 2008 | Sara Hansard
    Powerful House Democrats are eyeing proposals to overhaul the nation's $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. House Education and Labor Committee Chairman George Miller, D-Calif., and Rep. Jim McDermott, D-Wash., chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy analysis at The New School for Social Research...
  • McCain suggests Democrats will tax 401(k) contributions, Dems say that's 'ridiculous'

    10/30/2008 6:11:41 PM PDT · by Libloather · 40 replies · 1,830+ views
    Cleveland.com ^ | 10/30/08 | Stephen Koff
    McCain suggests Democrats will tax 401(k) contributions, Dems say that's 'ridiculous'Posted by Stephen Koff/Plain Dealer Washington Bureau Chief October 30, 2008 14:45PM Never mind Barack Obama's tax plan, which would raise taxes for people earning more than $250,000. We already know that John McCain says that Obama wouldn't likely stop there, while Obama says he would. But this morning in Defiance, Ohio, McCain appeared to try to ramp up worries for any worker saving for retirement: Under Democrats, your 401(k) contributions might be taxed, too. "This Democratic Congress -- this -- this Reid-Pelosi group of liberals, including Congressman Barney Frank,...
  • McCain suggests Democrats will tax 401(k) contributions

    10/30/2008 7:22:24 PM PDT · by pelican001 · 536+ views
    McCain: "This Democratic Congress -- this -- this Reid-Pelosi group of liberals, including Congressman Barney Frank, is planning all sorts of new taxes this week," McCain told the Ohio crowd. "This week, we're hearing they want to tax your 401(k) contributions."
  • House Democrats Contemplate Abolishing 401(k) Tax Breaks!!!

    11/03/2008 3:44:16 PM PST · by Im4realamerica · 36 replies · 3,111+ views
    Workforce Management ^ | Oct 16, 2008
    Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research...
  • Clutching Their Ideals Bitterly, Right-Wing Media Personalities Wage Partisan Warfare

    11/11/2008 10:42:09 AM PST · by La Enchiladita · 52 replies · 373+ views
    Bulldog Reporter ^ | November 11, 2008 | Staff
    You have to give Rush Limbaugh a perverse kind of credit. At least when he is demonizing Barack Obama, fabricating Obama policies, blaming Obama for single-handedly causing the recession and the stock market crash, he doesn't pretend to be fair. Opening his first post-election rant against the president-elect, Limbaugh launched in with a certain relish. "The game," he told his radio listeners, "has begun," the LA Times reports. Sean Hannity, on the other hand, insisted on feigning a post-election detente, telling his Fox News television audience last week, "I want Barack Obama to succeed." Didn't he think anyone would notice...
  • Hearing on 401(k) plan grows to urban legend (MSM preparing people for government seizure of 401K!)

    11/07/2008 5:33:43 AM PST · by FocusNexus · 111 replies · 6,305+ views
    MSNBC ^ | Nov. 7, 2008 | John W. Schoen
    There is no proposal in Congress to take away your 401(k) savings account. In any case, the stock market has already done a pretty good job of wiping out several trillion dollars worth of 401(k) savings without any help from Congress. At that hearing, one of the witnesses, Teresa Ghilarducci, an economics professor at The New School for Social Research, made an interesting observation. By her calculations, the government spends as much as $80 billion a year in tax breaks to subsidize 401(k) savings plans. In her opinion, that money could be better spent offering a tax credit for a...