Posted on 09/05/2009 7:31:06 AM PDT by Sequoyah101
WASHINGTON – The government is trying to make it easier for Americans to save for retirement, President Barack Obama said Saturday, as he noted the toll the recession has taken on extra income and savings accounts.
One initiative will allow people to have their federal tax refunds sent as savings bonds. Others are meant to require workers to take action to stay out of an employer-run savings program rather than having to take action to join it.
"We know that automatic enrollment has made a big difference in participation rates by making it simpler for workers to save," Obama said in his weekly radio and Internet address. "That's why we're going to expand it to more people."
(Excerpt) Read more at news.yahoo.com ...
Humor fits because this is a joke. Retirement savings by taking tax refunds as savings bonds? Taking vacation pay as savings for retirement upon termination? This bozo and his gang are the stupidest saps ever in history and think we are the same.
You are right, it’s laughably absurd.
Obama thinks Americans are Kenyans, and any thing he says is news to them.
Yeah, sure. Let the government keep your money. It's in good hands /weezing sarcasm.
Is this a joke?
One way for us to save for retirement is that WHEN WE OVERPAY OUR TAXES, rather than the government give us our OVERPAYMENT BACK
THEY KEEP IT FOR A PERIOD OF YEARS and return it with some piddly little interest rate that will be confiscated through either the hidden tax of inflation or directly through income taxes?
But giving the people the option of deciding how to invest up to 3% of their SS withholdings....that’s a BAD idea.
Needed a Saturday morning laugh.
Of course, I want my income tax refund sent to me as US savings bonds.
Why didn’t I think of that!
Absurd in the extreme.
Make it easier to save now so there is more to seize later, heh heh heh.
Here is the absurdity. Why would they want people to opt out of automatic retirement savings when most businesses match the funds? They want the government to have all that money, so buy bonds. Duh. Do you know what the interest is on bonds? This propaganda will actually work on the lower class who know nothing about finances. Sad, just another way to "use" the people they claim to "care" so much for. Sickening.
EXACTLY!
Will they use a ‘negative check off’ on some obscure tax form to receive a refund?
Bull! They’re licking their lips waiting for those tax penalties from those who cash in their 401ks early.
Stop the BS now Oblahblah. You’re a fraud and red hack!
“But giving the people the option of deciding how to invest up to 3% of their SS withholdings....that’s a BAD idea.”
I assume that is sarcasm?cause that is exactly what I would want to do, sorry to be so dense if that is sarcasm.
Nanny state pablum for the sheepled masses. Just amazing. They are taught nothing, learn nothing, know nothing.
Yeah buddy, I want some more of those savings bonds, safe sound and high yield ...stupid money.
It is sarcasm.
That is the percentage that Pres. Bush floated as part of “privatizing” SS. 3%. Not 100%. Not 90%. Not 50%. Not even merely 10%.
President Bush proposed allowing the citizenry the OPTION of allowing only THREE PERCENT of the money the GOVERNMENT TAKES FROM OUR PAYCHECKS to invest how we want to.
They pulled their hair out and screamed until their faces were red at such a “bad idea.”
I think it is a good idea and I think it should be more like 75%. But no bailouts for those citizens who blow their earnings.
Sending savings bonds for tax returns that take years to reach their face value and having the bankrupt Government keep my money. No way!
I think it was 3% of the paycheck, thus nearly a quarter of SS's total take of 12.4% (don't fall for any BS about the employer paying half. He just takes part from your real pay for the government, writes down the rest as the "gross" and then takes a lot more from that for the government.)
Even for a someone earning at the cap, 3% of the tax would be less than $400 per year.
Bush was trashed for this idea, I mean God forbid the people who earn the money actually get to decide how to invest it.
If 0bama told me the sky was blue I'd have to check for myself. The man has ZERO credibility.
Are you sure about that? Can you point to a source?
I was really sure it was 3% of the SS deduction from each paycheck. If I’m wrong, I’d like to be corrected and need source information. Thanks.
I doubt Obama could get anything right.
But if I could convert my excess vacation into pre-tax contributions to my retirement fund, that would be a good thing, so long as I wasn’t forced to do so.
Anything we can do to lessen government restrictions on what we can do with our money, or to lessen the tax burden, is a good thing.
I thought the law was already changed so that employees could automatically enroll their workers in retirement savings plans; maybe Obama wants to make that mandatory.
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