[rabscuttle385]

"The purpose of the retirement income system is to promote an adequate retirement, not to promote tax sheltering through 401(k)s," testified William Gale, a co-director of the Urban-Brookings Tax Policy Center at the Brookings Institution.

Soon, the Feds will be deciding what is an "adequate retirement" for each and every American - sounds like "from each according to his ability, to each according to his need" to me!

FUBO!!!

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[KoRn]

I expect the feds will eventually raid 401K accounts in order to “save” Socialist Security. At first they will find a clever way to make people do it willingly. Eventually, they will probably levy a huge tax against them that will supposedly go into the SS trust fund. If I were older, I would NOT keep a large amount of funds in a 401K for this very reason. It’s just sitting there for their taking. I’d feel better keeping it in one of my safes at home.

[stephenjohnbanker]

Stinking Marxist POS !

FUBO !