Keyword: myra

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  • Obama plan: Cut tax breaks for richest retirement savers

    02/21/2014 1:32:19 PM PST · by stevie_d_64 · 44 replies
    Wall Street Journal (Market Watch) ^ | February 21, 2014 | Robert Powell
    President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. Read Companies bracing for 1-2 retirement punch . According to the report,...
  • Obama step closer to seizing retirement accounts

    02/14/2014 5:48:59 AM PST · by SkyPilot · 65 replies
    WND ^ | 28 Jan 14 | Jerome R. Corsi
    <p>When you hear, “Hello, I’m from the federal government and I want to help you manage your retirement savings,” the best advice is to run away, as fast as you can.</p>
  • The Government is After Your Retirement Accounts

    02/15/2014 7:31:31 PM PST · by Aquamarine · 30 replies
    Philadelphia Church of God The Trumpet ^ | 2/14/2014 | Robert Morley
    The president’s myRA plan tells you a lot about where the country is headed. Many Americans have virtually nothing saved for their retirement. That is a fact. President Obama emphasized this point in his State of the Union speech and proposed a dramatic solution. He wants you to trust your retirement money to the government—so you can be protected. One of the most important rules in investing is never invest in something you don’t understand. Just behind that is never invest in something just because some guy in a good suit tells you to. You work too hard to waste...
  • As 'Retirement Gap' Concerns Reach Across Partisan Divide, Senators Propose Savings Solutions

    02/14/2014 3:08:26 AM PST · by Cincinatus' Wife · 40 replies
    Roll Call ^ | February 12, 2014 | David Harrison
    When President Barack Obama introduced a new retirement savings plan during his State of the Union speech last month, the Republican response was uncharacteristically muted. Although Republicans were upset about the president’s new reliance on executive authority to push his agenda, they had few harsh words about the details of the retirement idea. Dubbed MyRA, Obama’s initiative is intended to allow workers who do not have access to other workplace savings plans to open an account overseen by the government that would invest in low-risk Treasury bonds. It’s a relatively modest proposal, one that would be entirely voluntary for employers...
  • Prepare For When The New MyRA Becomes "TheirRA"

    02/10/2014 11:11:19 AM PST · by blam · 10 replies
    Market Oracle ^ | 2-10-2014 | Peter Krauth
    Prepare For When The New MyRA Becomes "TheirRA" Personal_Finance / Pensions & Retirement Feb 10, 2014 - 06:47 PM GMTPeter KrauthBy: Money_Morning Personal Finance Peter Krauth writes: In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA." Something immediately felt wrong about the proposal... but I couldn't put my finger on it. So I researched the new MyRA and found details to help you understand just how it works. But I also saw some potential dangers there that you need to prepare...
  • Prepare Now for When the New MyRA Becomes "TheirRA"

    02/10/2014 7:24:55 AM PST · by Vigilanteman · 21 replies
    Money Morning ^ | 10 February 2014 | Peter Krauth
    In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA." Something immediately felt wrong about the proposal... but I couldn't put my finger on it. So I researched the new MyRA and found details to help you understand just how it works. But I also saw some potential dangers there that you need to prepare for now... What MyRA Really Means Like most government programs, getting to their essence can take some sifting. So I've distilled here what I think are the...
  • When George Clooney Starts Pitching Government Bonds...

    02/07/2014 12:00:24 PM PST · by Rusty0604 · 4 replies
    Zerohedge ^ | 02/07/2014 | Tyler Durden/ Simon Black
    Last week in his State of the Union address, the President of the United States laid the groundwork for a new government program he calls “MyRA”. As he explained to the American people, this program will allow US taxpayers the ability to loan their retirement savings to the federal government (which, according to POTUS, carries ZERO risk). Given that US Treasury yields fall far below the rate of inflation, this is a big win for the government, and a big loser for the poor suckers who loan them the money. The President then hit the road, touting his one-of-a-kind program....
  • The Countdown to the Nationalization of Retirement Savings Has Begun

    02/05/2014 12:30:52 PM PST · by SeekAndFind · 31 replies
    International Man ^ | 02/05/2014 | Nick Giambruno
    Simply put, the new myRA program put forward by Obama is at best a sucker's deal… or worse, it's a first step toward the nationalization of private retirement savings. (Note: If you haven't yet heard of myRA, I'd strongly suggest you read this excellent overview by my colleague Dan Steinhart.)Even before the new myRA program was announced, there had been whispers about the need for the US government to assume some risk for US retirement accounts. That's code for forced conversion of private retirement assets into government bonds.With foreigners not buying as many Treasuries and the Fed tapering, the US...
  • Obama Stumbles Over Latest Promise: “If You Like Your Retirement…”

    02/02/2014 6:51:20 AM PST · by Kaslin · 42 replies
    Townhall.com ^ | February 2, 2014 | Michael Schaus
    Our imperially inclined President is already acting on the promise he made during his State of the Union to take unilateral “action” outside of the normal legislative process. And at the top of his non-legislative agenda is the reformation of American retirement. Utilizing his oratory prowess and an executive memorandum, the President is promising to give Americans a new way of saving for retirement… Or something like that. Maybe “oratory prowess” was a bit of an overstatement. It turns out that his teleprompter was never taught about avoiding double negatives – let alone triple and quadruple negatives: Obama: 'I'm Not...
  • The trouble with Obama’s myRA plan: Retirement plan helps those with no 401(k), but not much

    02/02/2014 11:54:41 AM PST · by SeekAndFind · 18 replies
    MarketWatch ^ | 02/02/2014 | Chuck Jaffe
    Real life isn’t always a “Field of Dreams,” where “if you build it, they will come.” Instead, there are times when you build it, and they go “Ho-hum,” and mostly ignore you. So while any effort to encourage increased retirement savings among workers deserves to be applauded — arguing against increased savings is like disputing the value of parenthood and apple pie — it’s hard to see President Obama’s myRA program achieving most of its goals, because once you get past what he described during the State of the Union address, it appears to be a lot of wishful thinking....
  • MyRA? Oops! CEO: Name of Obama’s New IRA Program Already Taken

    02/01/2014 9:07:55 AM PST · by rktman · 38 replies
    CNSNews ^ | 1/30/2014 | Barbara Hollingsworth
    The president of a South Dakota-based financial services company says he was startled to hear President Obama call his new government-sponsored retirement program "MyRA" in Tuesday’s State of the Union address because that’s the same name as his firm’s four-year-old “keynote” investment product.
  • The MyRA Propaganda Begins: "A Start To A Secure Retirement" Promises Treasury Secretary

    01/30/2014 1:59:09 PM PST · by Rusty0604 · 53 replies
    Zerohedge ^ | 01/30/2014 | Tyler Durden
    You didn't think the US could at first slowly, and then all of a sudden, expropriate retirement accounts and invest them in the "no risk, guaranteed return" MyRA Ponzi scheme introduced by Obama during the State of the Union address without lots of behavior-modifying indoctrination in the "friendly press" first now did you? Sure enough, here is the first major propaganda salvo, coming from none other than the US Treasury Secretary, Jack Lew, which will be published tomorrow across the McClatchy media empire. * * * Just out from the US Treasury Department, "In an op-ed to be published in...
  • Huge See, I Told You So from 2008: Democrats Try To Take Your 401(k)

    01/30/2014 5:00:06 AM PST · by EBH · 63 replies
    Rush Limbaugh ^ | 11/1/2010 | Rush Limbaugh
    RUSH: Well, now, that's fascinating you mention that, because that's the next item up in my Stack of Stuff and I talked about this weeks ago, maybe even months ago when Tom "Dung Heap" Harken proposed this. Now, before you condition Alicia, let me refer to what she's talking about. It's Mark Hemingway in the Washington Examiner: " Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that....
  • Obama pitches retirement savings options at U.S. Steel's Irvin Plant

    01/30/2014 2:57:38 AM PST · by Cincinatus' Wife · 50 replies
    Pittsburgh Tribune-Review ^ | January 29, 2014 | Mike Wereschagin
    ".......... After the tour and speech, he signed an executive order directing Treasury Secretary Jacob Lew to establish the savings bonds. Named and modeled after existing Individual Retirement Accounts or IRAs, the bonds offer tax benefits that regular savings accounts do not, don't lose value and can be withdrawn tax-free any time. “It's safe. These balances will never go down in value,” Obama said. Lew, whose agency will set up the bonds, accompanied the president, whose directive is one in a series of executive orders Obama said he's using to circumvent a divided Congress that's on pace to be the...
  • IRA Confiscation: It's Happening

    01/29/2014 1:04:11 PM PST · by Kartographer · 46 replies
    Zerohedge ^ | 1/29/14 | Simon Black
    I have an old acquaintance named Sam who has a hell of a deal for you. Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity. Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return. Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be...
  • Treasury to pick manager for Obama myRA retirement program

    01/29/2014 1:30:10 PM PST · by Jean S · 59 replies
    Reuters ^ | 1/29/14 | Patrick Temple-West and Ross Kerber
    WASHINGTON/BOSTON (Reuters) - President Barack Obama's new "myRA" retirement savings program will be run by a private-sector money management firm chosen by the U.S. Treasury Department from a field of up to 30 firms, a senior administration official said on Wednesday. In a competitive bidding process to begin in the next few weeks, the Treasury Department will select a firm with experience in handling Roth individual retirement accounts (IRAs), the official said on a conference call with reporters. The time frame was not clear, with the official saying only that selection would take place in months ahead. With millions of...
  • Meet myRA: Obama offers IRA plan details

    01/29/2014 12:46:58 PM PST · by tcrlaf · 141 replies
    CNNMoney ^ | 29 Jan 2014 | Jennifer Liberto
    President Obama on Tuesday offered up a new kind of "starter" retirement accounts aimed at employees of companies that don't offer such plans. Obama is calling them the "MyRA" and said he would, by executive order, direct the Treasury Department to create them. Details were scarce Tuesday night, but employees will be able to contribute part of their wages to the savings accounts, which would be backed by the U.S. government.
  • Obama flexes executive power [Obama de facto suspends Constitution]

    01/28/2014 6:45:02 PM PST · by markomalley · 46 replies
    The Hill ^ | 1/28/2014 | Amie Parnes and Justin Sink
    President Obama on Tuesday unleashed a torrent of new executive actions, using his State of the Union address to underline his willingness to govern without Congress.Obama promised a dozen actions in the next year —including the creation of new “starter” savings accounts and a hike in the minimum wage for federal contractors — intended to embolden Democrats ahead of this year’s midterm elections.The prime time speech from the podium of the House immediately drew Republican condemnation as an effort to create an imperial presidency, but was staunchly defended by Democrats as a legitimate and necessary use of executive authority in the...
  • The Real St. Nicholas – How Did a Cantankerous but Holy Bishop Become Jolly Ole St. Nick?

    12/06/2010 2:56:29 PM PST · by Salvation · 15 replies
    Archdiocese of Washington ^ | December 6, 2010 | Msgr. Charles Pope
    The Real St. Nicholas – How Did a Cantankerous but Holy Bishop Become Jolly Ole St. Nick?By: Msgr. Charles Pope  Today is the Feast of St. Nicholas. The real St. Nicholas was nothing close to the St. Nick  (Santa Claus) of the modern age. He was a thin curmudgeonly man with a zeal for the Lord that caused flairs of anger. Compromise was unknown to him. The slow transformation of him into “Jolly ole’ Saint Nicholas is a remarkable recasting of him centuries in the making. Some years ago the Washington Post featured an article entitled Poles Apart: Nicholas...
  • The Real St. Nicholas – Not Fat and Not Very Jolly Either

    12/06/2012 3:35:21 PM PST · by NYer · 25 replies
    Archdiocese of Washington ^ | December 5, 2012 | Msgr. Charles Pope
    Today (Dec 6) is the Feast of St. Nicholas. The real St. Nicholas was nothing close to the St. Nick (Santa Claus) of the modern age. He was a thin curmudgeonly man with a zeal for the Lord that caused flairs of anger. Compromise was unknown to him. The slow transformation of him into “Jolly ole’ Saint Nicholas is a remarkable recasting of him centuries in the making. Some years ago the Washington Post featured an article entitled Poles Apart: Nicholas of Myra; How a 4th-Century Bishop Achieved Fame 1,500 Years Later, With a Whole New Attitude.On this feast of...
  • Finally a mass in the church of Saint Nicholas in Myra (+ life of St. Nicholas)

    12/06/2007 8:03:07 AM PST · by NYer · 26 replies · 257+ views
    Asia News ^ | December 5, 2007 | Mavi Zambak
    The ecumenical patriarch Bartholomew I, after years of insistence, was finally given the possibility to celebrate mass inside of what is, according to the State, only a museum. A saint which is unknown in Turkey, but is origin of Santa Claus. Istanbul (AsiaNews) – Since 99 % of Turkey is Muslim, Christmas is not an official holiday, though it is not prohibited. For the few Christians, December 25th is a regular day in which they go to school or to work and are then left with no choice but to celebrate either in private or in the few available churches....
  • Saint Nicholas of Myra, By Ilya Repin

    12/06/2006 6:05:19 PM PST · by Pyro7480 · 22 replies · 535+ views
    see source below | n/a | n/a
    From Myra