Notice how cleverly this jerk spins this. It is true that there is no proposal currently in Congress to take away the 401(k), but that doesn't mean that it hasn't been discused and planned.
Going back to Clinton, he was planning on taxing 401(k)'s at 15% when he lost control of Congress and got swept up in the Monica, Gennifer, Juanita, et al, scandal. But, Dems have NEVER lost sight of the plan. After all, they think it's THEIR money, NOT yours!!
If we go back to the origins of one of the greatest political swindles ever perpetrated, we can look at FDR's Social Security program. When you read the original bill, you discover that it was nothing more than a money grab by a cash-strapped government that was "sold" to the people as a government retirement plan. The interest rate they were allegedly going to pay on the money they confiscated for Social Security was a whopping 1%. In 1938, that was probably pretty good return but, by today's standards, it's little more than chump change.
Nonetheless, that's a moot argument, anyway. Social Security has been bankrupted by the very Congress that was supposed to safeguard it and there is no way they can put all of the misappropriated money back. Many people who have (unwillingly) paid into Social Security in the belief that they would see something back when they retire now know that they will work right up to the day they die.
So, tell me again why I should believe ANYTHING a politician says??
“Going back to Clinton, he was planning on taxing 401(k)’s at 15% when he lost control of Congress and got swept up in the Monica, Gennifer, Juanita, et al, scandal.”
Could you please provide a reference for this? I would like to spread this information, but I want to be sure it’s true.