[Dilbert San Diego]

Leave my 401K alone!

The whole point of 401Ks and IRAs is that the individual can invest as they see fit. These individual savings are supposed to be in addition to your Social Security. Social Security is a government run guarenteed payout plan. Why do they need to convert 401Ks into a similar guaranteed payout plan??????? And wouldn’t that result in gov’t control of your 401K, just as gov’t directly controls your Social Security?????

Wouldn’t this just create another Social Security system?

[Wolfie]

And wouldn’t that result in gov’t control of your 401K, just as gov’t directly controls your Social Security?????

You mean like Bush's "privatized" SS plan?

[RockinRight]

I support the opposite - turn Social Security into a rather conservative, perhaps even partially insured, 401k-like plan.

[Republican Wildcat]

Indeed - that is the point. Tax the 401ks out of existance and replace it with another SS with the same result. More poverty, less independence, less freedom.

[tcrlaf]

“Why do they need to convert 401Ks into a similar guaranteed payout plan???????”

Because Democrats can BUY VOTES with the money then.

Vote Democrat, because those EVIL REPUBLICANS will take everything away from you!

[CottonBall]

Wouldn’t this just create another Social Security system?

Sounds like it. 401Ks were started so people wouldn't depend on SS 100%. Now, they want to take away the 401Ks and create even more goverment socialized security. Which, BTW, will be broke in another decade. And I'm sure the new SS, just like the old, will penalize those that make the most, while subsidizing the low earners.