Political Junkie Too wrote: My 401(k) is invested in the stock of the company I work for. How would Warren force me to invest in her annuities without selling my company holdings?
You would lose control over the investments in your 401K. The government would sell any current assets and invest the revenue in government long term bonds and give you an annuity upon retirement. Really simple to write the laws.
While I haven’t heard this proposed, I’m sure the dems would want to enforce some kind of retirement equality where the amount of the annuity would not be 100% proportional to the amount you put in.
Yes, but sell to whom?
We're talking about a distressed sale of American NYSE equities. Even if the government could do such a thing, what would be the impact to the companies? What would happen if their stocks were suddenly sold off en masse at reduced prices at the whim of the government?
Furthermore, lets assume that all corporate stocks held in retirement accounts are subject to this; the conclusion is that Americans cannot buy American stocks being sold by the government, because those stocks were initially held by American investors in the first place. So what happens? Will these stocks be sold to foreign investors?
Would Congress really sell the NYSE off to foreigners, destroying American ownership of its largest corporations?
Or am I exaggerating, and something else would happen?
-PJ