Obama to workers: We'll help you save (Yea Right! It's the fox guarding the hen house)

cnn ^ | 9/5/2009 | Jennifer Liberto

[tobyhill]

President Obama on Saturday announced changes that the IRS plans to make to encourage workers to save more of their paychecks.

"Even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased," Obama said in his weekly radio and Internet address. "More broadly, tens of millions of families have been, for a variety of reasons, unable to put away enough money for a secure retirement. ... We cannot continue on this course."

Most of the following changes will take effect immediately because of rule changes made by the Treasury Department.

Auto enrollment in retirement plans: To make it easier for smaller and medium-sized employers to automatically enroll workers into retirement plans, the administration will clear up some bureaucratic paper-work hurdles for employers to offer that option. Employees could still choose to opt out of the retirement plans.

[Colonial Warrior]

Don't worry....The O-Man has the Money and will distribute it NON-STUPIDLY!!!!

[ProtectOurFreedom]

The bastard is going to tax us to death and most of us will have to REDUCE SAVINGS to feed him. And he has the gall to tell us to save more. What a schmuck. This is more the hypocrisy he exhibits when he tells us he is cutting the federal budget after quadrupling the deficit in one year to an all time high.

[tobyhill]

It's Obama’s voluntary tax program. They accept Mastercard, Visa and now even unused Vacation Days.

[tobyhill]

It’s just theft in another way. On top of taking the money, he will put a service fee on all transactions.

[McCloud-Strife]

Want us to save more? Stop taxing us to death! IDIOT.

[Mr Ramsbotham]

Precisely. They’re still screwing us, but now we’re going to get Vaseline.

[tobyhill]

This is nothing more than Obama trying to take OPM (Other Peoples Money).

[NotSoModerate]

Obama and congress will find a way to steal this money the same way Social Security was robbed. Just another government scam.

[bzybee]

They are getting ready to confiscate 401 K plans—George Miller (D) from California has written legislation last year regarding it. Before the elction there was a lot of talk about nationalizing the private 401 ks. with all the other crap going on this fell into the cracks.

[GeronL]

Don’t worry those savings accounts won’t keep up with inflation. Your $100 will be worth much less by the time they let you have it back.

[markman46]

FOBO... If I choose to save or not is my business not yours..
and who can save if you don’t have a job

[dalebert]

lol they they took everything...what do we save??

[tobyhill]

The article says that Obama is willing to take Vacation Time in lieu of money.

[FlingWingFlyer]

What is it with communist piggies? EVERYTHING is ALWAYS about money! Everything.

[WestwardHo]

Ya’ll are forgetting that if the gov’t health care bill passes the Feds will have access to our electronic bank accounts.
You all save big, hear!

[paul51]

We're going to help you save a few bucks out of your paychecks while we indebt you a $100,000 by giving your money to ourselves and our special interests so we can retain power and keep doing the same thing until you are completely broke. Good plan.

[Cheetahcat]

How about community organizing Miles does Zero accept those?

[paul51]

obama...yeah listen to him. He's an economic genius

[Red in Blue PA]

Don’t worry about me O! I invested all of my money in ammo.