Posted on 12/23/2008 5:54:58 AM PST by Libloather
Should the 401k Be Killed?
By Justin Fox
Thursday, Dec. 04, 2008
**SNIP**
That leaves the question of just what the best retirement-savings system for working families might look like. There have been several proposals (including one by Barack Obama during the campaign) to create modestly subsidized, automatic IRAs, at least for the more than 50% of private-sector workers who don't have access even to 401(k)s. Ghilarducci wants more — a government-run plan, financed in part by the end of the 401(k) tax deduction, that would guarantee a 3% return above inflation. Don't think that's a good deal? Fine. But remember that for most Americans, the 401(k) isn't either.
(Excerpt) Read more at time.com ...
And these goofballs want to run your health care program.
I’m starting to wonder if that wasn’t part of this crash the economy plan.
No !!
Oh, those Socialists eye that huge pot of money in 401K plans and their collective mouths water. Remember long, long ago when SS was actually solvent? This will be the next biggest coup. You only THOUGHT your 401K was your money.
TC
No one “guarantees” a rate of return unless they are raiding someone else to pay for it
Maybe the USG can hire Bernie Madoff as a consultant to get this new scheme off the ground
After all, it is the “next generation” that will be stuck with the tab
Orchestrated crisis. Even Kennedy is quoted as saying they need to destroy the current health care system in order to nationalize health care.
The socialist plan is always about destroying a functional entity in order to consolidate power over the proletariat via absolute control over the distribution of "gubbamint cheez."
Oh ... I forgot ... can't do that ... we may get hurt.
Is this “Lexington” or “Concord”?
...”Unlike pensions, 401(k)s are voluntary, and many workers either don’t participate or don’t set aside enough money to give them a shot at a comfortable retirement.”...
Well, that’s their problem, not the “government’s” problem. Let’s be straight here- since when is it the job of the Federal Government to assure individual Americans a “comfortable retirement”? If the 401(k) program is not utilized by an individual, for whatever reason, he or she is likely not living a “comfortable” life, or he or she is living for today, figuring tomorrow would be taken care of somehow. Poverty, or “poverty” in the USA is assuredly not the same as poverty in other parts of the world, where peoople actually starve to death, rather than get fat whilst sitting watching a plasma screen TV, smoking cigarettes, and drinking beer. It is not a “government” function to assure us a “comfortable” retirement - it is our individual responsibility, achieved through sacrificing something today for tomorrow.
...no no, the system is not broke if you turn over your money to "supplement" the gubmint....see if you give them your money they can now pay you your SS. The biggest Ponzi scheme ever is the Social Security. The big tease is we'll "give" you what we lost which is really yours to begin with now we'll waste the bulk of it on social programs to promote socialism and now everybody is happy....why aren't you happy?. We demand that you be happy!
...”Even Kennedy is quoted as saying they need to destroy the current health care system in order to nationalize health care.”...
The good news is that Ted Kennedy will not be around to assist in this.
At the rate this crowd of ocompletely out of control oppressive Leftist Washingtonians gets done with us, Venuzuelans may be a more free people than us.
now he CAN’T be talking about privatizing social security???
>>I’m starting to wonder if that wasn’t part of this crash the economy plan.
Libs win when the economy is in the crapper. They wanted to win, at any cost.
What to do? Simple, keep spreading gloom, despair and blame it on President Bush. And the h*ll with the sheeple.
We've lost America.
Mine is already “retired.” I didn’t have much in there to begin with, and lost almost all of it. So, there ya go.
Here is the way to “Nationalize” retirement and health care at the same time.
At birth, a whole life insurance policy is bought for the young lad or lass. Since it usually takes about 13 years for a policy to be paid up before it is self funded, a child’s policy will be self funding by the time they hit 13, although the parent can fund it as long as they like..
The interest from this will go back into the account. When the person hits 65, they will now be able to use that to fund their retirement and their health care.
You make it pre-tax, non-taxable income.
You just solved health care, retirement and social security and their is no governmemt intervention.
I hope they try it...it will guarantee a GOP take over of the House..possibly the Senate, in 2010. Anybody remember during the Carter administration, when interest rates were at 15%+ on 6 month CDs..the Dems introduced a bill to mandate that banks withhold taxes on interest, akin to what happens now on payroll. The letter writing and telephone campaign agains it was so huge, they dropped the idea in abot a week.
I'm with you....I keep wondering what will be the final straw.
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