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Meet myRA: Obama offers IRA plan details
CNNMoney ^ | 29 Jan 2014 | Jennifer Liberto

Posted on 01/29/2014 12:46:58 PM PST by tcrlaf

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.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; Government; News/Current Events
KEYWORDS: 2percentbonds; barryinyourpocket; corruption; debt; getreallucille; myra; obama; obamafail; obamasotu; redistribution; retirement
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To: BruceS

ALL of these criminal should be imprisoned. Justice will find them.


61 posted on 01/29/2014 2:46:05 PM PST by ogen hal (First amendment or reeducation camp)
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To: nascarnation

You are missing the obvious redistribution from those who have their own 401k.

Now, what I want to know is how this is any different than SS.


62 posted on 01/29/2014 2:46:41 PM PST by EBH ( The Day of the Patriot has arrived.)
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To: tcrlaf

REVERSE BANK HEIST.


63 posted on 01/29/2014 2:49:06 PM PST by floriduh voter (Jackwagons of the United States You Have Wrecked My Country)
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To: EBH

SS gives a negative return for someone with a reasonably high salary thru his/her career.
This would appear to have a positive return.


64 posted on 01/29/2014 2:51:22 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: grania

A life insurance policy but without beneficiaries.


65 posted on 01/29/2014 2:53:27 PM PST by floriduh voter (Jackwagons of the United States You Have Wrecked My Country)
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To: nascarnation; COUNTrecount; Nowhere Man; FightThePower!; C. Edmund Wright; jacob allen; ...

Nut-job Conspiracy Theory Ping!

To get onto The Nut-job Conspiracy Theory Ping List you must threaten to report me to the Mods if I don't add you to the list...

66 posted on 01/29/2014 2:54:29 PM PST by null and void (<--- unwilling cattle-car passenger on the bullet train to serfdom)
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To: null and void

Love it!

I’ll store that digital pic with my Bitcoin stash :-)


67 posted on 01/29/2014 2:57:39 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: tcrlaf

If you like your IRA, you can keep it....


68 posted on 01/29/2014 3:01:29 PM PST by Tzimisce
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To: tcrlaf

...a government that is 17 trillion dollars in the hole is going to lecture us about how to save money???????????


69 posted on 01/29/2014 3:02:17 PM PST by Tzimisce
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To: tcrlaf

Companies don;t have to “Offer IRAs”.

Any eligible person can sign up at a bank, savings and loan, etc.


70 posted on 01/29/2014 3:02:36 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: tcrlaf

This is just a precursor to the government seizing everyone’s IRA....


71 posted on 01/29/2014 3:03:43 PM PST by Tzimisce
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To: Sacajaweau

The government already knows all. You 1099s tell the IRS where, when, how much.


72 posted on 01/29/2014 3:04:01 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: Tzimisce
If you like your IRA, you can keep it....

Now, now..Let's complete their sentence..

If you like your IRA, you can keep it....in MY.r.a.

73 posted on 01/29/2014 3:04:05 PM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: VanShuyten
Treasury Direct already allows individuals to buy bonds directly from the government. All this does is remove the due date of the bonds and replace that with your age. There are also many mutual funds that are solely inflation-proof treasuries. I don’t see how Obama’s MyRA is any better than these.

Worse, you could partake in the various sharebuilder arrangements that allow you to by fractional shares on a regular basis for low cost if my memory is correct, and they are your dividend paying types that reinvest the divi's. The low information voters sad to say are clueless on these other options, just the way Obama and the NEA want it...

74 posted on 01/29/2014 3:05:26 PM PST by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: Tzimisce
This is just a precursor to the government seizing everyone’s IRA...

I'm not going to worry about that until they deny it. BTT

75 posted on 01/29/2014 3:07:54 PM PST by Billthedrill
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To: tcrlaf

According to the fund managers and other financial experts, there’s no risk in the U.S. treasury and dollar.

;-)


76 posted on 01/29/2014 3:15:59 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: All

if the us education system had done it’s job the last fifty years, this idea would have been laughed out of the room.


77 posted on 01/29/2014 3:27:42 PM PST by willywill
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To: sten

It’s more than that. Figure in the fed gas tax and other fees. It’ll sicken you how much you actually give them.


78 posted on 01/29/2014 3:44:00 PM PST by edpc (Wilby 2016)
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To: null and void

He couldn’t even figure out how to say it...

And just for grins how is this different than an IRA????


79 posted on 01/29/2014 3:54:25 PM PST by Nifster
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To: Jim Robinson
Where is the constitutional authority for the president to do this?

Picky, picky!

OK.

I just checked my copy of the Constitution but couldn't find anything in there about a President on his own setting up a public multi-trillion dollar "investment" fund and obligating government money via Treasury bonds or even obligate the personnel or establish the legal infrastructure to run it.

But maybe I missed something?

Oh, wait. Maybe I was looking in the wrong place? Perhaps I should consult a copy of the Soviet Constitution?

Let me check, but I doubt it is there, either...

80 posted on 01/29/2014 4:05:46 PM PST by Gritty (Inside every liberal is a totalitarian screaming to get out! - David Horowitz)
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