[Gaffer]

This is the actualization of that which was proposed by Clinton Administration Ghoul Teresa Ghilarducci in the early 90s before Republicans took over the House of Representatives. She maintained that all retirement and investment accounts should be “assessed” a fee so that government could do its good work (I’m guessing she was also on the HillaryCare secret panels, too).

These people will call it “protecting your retirement” but what it will be is an assessed penalty (likely a percentage of the total package) when it (your retirement plan) doesn’t meet their (ObamaCare-like) standards.

It’s a twofold strike: 1) assess massive penalties to fund government largesse for the leeches, and 2) eventually force you to put your retirements into socially responsible, government approved instruments. Think about that. You’d be forced to invest in Tesla, or wind power, solar power, “Green” technology companies and every other AGW or eco-nut fringe mania out there (many I’ll be who will become massive Democrat campaign contributors if not already).

There is, of course, a final option. If they could gain or consolidate enough legislative and judicial power, they would rather just take your retirement altogether and give you a chit that is good for a few bucks more per month on Social Security. They want, and will have that money by hook or crook. Count on it.

[kevslisababy]

This is why I quit contributing to my 401K when obutthead was elected. Some call me stupid for not taking advantage of the “booming” market. I see it as not putting any more of my money where the government may very well declare it not mine very soon. I just wish I were old enough to get out what I already have in there.

[Gen.Blather]

Quantitative easing is a huge tax nobody is talking about and its in force now. Every month the government clicks a mouse and adds $87 billion dollars. What is the effect? I went to Lowes to buy a pair of channel locks (hand tool). When I last bought a pair several years ago they cost about $5. Today they are $29.99.

If you adjust for inflation (adding money into the economy) gas is probably as cheap at $2.80 today as it was in 1970 at $.38. I saw an article yesterday saying that the Fed saw no way to end QE and that it would become a permanent feature of the economy. Now that will affect your 401k as no company (other than possibly Apple) is growing faster than inflation.

[silverleaf]

Mattresses as saving depositories are looking better and better

[gattaca]

ping for later

[logic101.net]

sharply curtail choices of assets and investment strategies in 401(k)s

Aren’t they limited enough?

[windsorknot]

Unfortunately these waters have been tested for years. Wherever there’s money, the imperial government is looking for ways to get its hands on it.

[sergeantdave]

“regulations that would sharply curtail choices of assets and investment strategies in 401(k)s, IRAs, and other savings plans...”

Looks to me like a strategy to herd livestock into pens for slaughter.

[I want the USA back]

I knew he would get a high paying job, compliments of the democrat party.

[Rusty0604]

Thanks for posting this. We need to make sure our reps know about this.

[Labyrinthos]

No evidence indicates that he is, but the authors of DOL’s sweeping new seven-part group of regulations that would sharply curtail choices of assets and investment strategies in 401(k)s, IRAs, and other savings plans appear to share Gruber’s mindset on the “stupidity of the American voter” (a revelation that Rich Lowry aptly described as “an unvarnished look into the progressive mind, which . . . favors indirect taxes and impositions on the American public so their costs can be hidden, and has a dim view of the average American”).

The stupid American voters elected Obama twice and continue to re-elect the likes of Boehner, McConnell, Graham, McCain, etc., year after year. Seems to me that Gruber's comment is spot on.