Posted on 10/11/2020 11:42:29 AM PDT by John Semmens
Decrying "the inequality of the current IRA and 401k retirement plans," Democratic presidential nominee Joe Biden promises "big changes. Right now, the only people who benefit from the IRA and 401k programs are those who earn an income. This is unfair to those who are out of work and have no aptitude for supporting themselves. This inequity will change once I'm elected."
"Under my plan these formerly individual retirement accounts will all be merged into Social Security," Biden said. "There's no good reason why a person who has worked, saved, and invested for retirement should have a better retirement than a person who hasn't. In my view, America is like one big family with me as the Dad. I'm not going to let some of my children suffer just because they wasted their opportunity to be self-supporting. I didn't do that for Hunter and I won't do that for the rest of them.'
"The beauty of my plan is that every retiree will be treated equally," Biden claimed. "Everyone will get a fair share of the pot of money in the merged accounts. Those who don't now have an IRA or 401k will be lifted up. Those who do will be brought down to a level more equal to that of their brothers and sisters who didn't invest for the future. This is what a loving Dad would do. This is what I will do. Period."
Asked about how this plan might affect his son Hunter, Joe explained that "it won't affect him one bit. Technically, his investments are not covered by the IRA and 401k statutes. They are pure honest graft—the kind that has been around since long before the IRAs and 401ks were ever conceived. The people who have so generously paid him need have no fear that their efforts will be negated by my program."
if you missed any of this week's other semi-news/semi-satire posts you can find them at...
http://www.gopbriefingroom.com/index.php?topic=416759.0
This is satire?
It’s bee their plan for years.
The marxist/communists just cannot bear the thought that the “unwashed masses” have a means of obtaining a little wealth without govt. interference. The communists see those trillions in 401ks, IRAs, SEPs, etc. and drool over the ways to spend it all.
Ok, I will admit it. I had to read it completely....twice before I figured it out. Satire BUT I wouldn’t put it pat them
Nah, pressydent kamala matressback will loot them and replace the money with solar/wind credits.
Yeah, it’s satire and accurate.
D’rats have been salivating over the giant, juicy peach that is our personal retirement savings/investments (IRA and 401k), and have been laying the groundwork to hijack them for decades.
I have no doubt the legal documents to do so are written, ready and waiting in Democrat’s files.
In 2008, a U.S. House of Representatives subcommittee heard testimony in favor of scrapping 401(k) plans and switching to “guaranteed retirement accounts.” Workers would put in 5% of their pay and the government would deposit $600 a year and guarantee a 3% return. The goal: To potentially save the $80 billion the government spends each year on 401(k) tax incentives.
-https://www.daveramsey.com/blog/is-the-government-trying-to-steal-your-retirement
Biden is a brain damaged Loon. Whattamoron.
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