Democrats and AARP want to make IRA enrollment automatic

The Hill ^ | July 12, 2010 | Walter Alarkon

[Second Amendment First]

AARP in bed with the democrats to find more ways to steal money. You can bet the government will skim their share off somewhere.

[dalebert]

yup and we dont stand a chance against them ...the party of NO doesnt know the meaning of the word...

[Diogenesis]

[Doogle]

more control

[pnh102]

Lemme guess... the money would go directly into accounts at an AARP-owned bank, right? Nothing could POSSIBLY GO WRONG with that!

Of course, the left conveniently misses the easiest way to encourage savings. QUIT TAXING INCOME!

[Washi]

The Obama administration sees the auto-enrollment system as a way to increase savings.

Obama and the AARP actually see this as a new source of funds that will be seized, as will all existing 401K and IRA funds in the near future under the guise of Guaranteed Retirement Accounts (just more cash for the government to amass more power.)

[HangnJudge]

My Tax adviser, for the first time,
is recommending converting IRA’s / 401K’s to Roths
in expectation of higher incremental tax rates
beginning next year.

[davisfh]

I “opted out” of AARP in the early ‘90s when they were pushing “Hillary care.” I’ve never regretted my departure from that malignant organization.

[palmer]

If the AARP is for it, I am against it.

[gov_bean_ counter]

Irish Republican Army?

What they supposed to do, blow themselves up???

[ILS21R]

Obama and the AARP actually see this as a new source of funds that will be seized, as will all existing 401K and IRA funds in the near future under the guise of Guaranteed Retirement Accounts (just more cash for the government to amass more power.

All true.

[FrankR]

"The Obama administration sees the auto-enrollment system as a way to increase STEAL your savings. "

So long as citizens pay their law-required taxes, their private income and money/savings are no business of the Government...OR the marxist AARP.

The AARP offers little hotel and insurance "discounts" in exchange for helping their democrat pals steal you blind on the other end.

If you're a member, resign...if not, don't join. They are an arm of the obama regime out to take your money in exchange for a few paltry discounts here and there. You can save more money clipping coupons.

[VTenigma]

Stop, just stop, enough, really I’m not sure anymore I want to live in a country where we have our hand held from cradle to grave and are taxed to death at a young age.

These*&^%$r’s khow how to suck the fun and the life out of everything.

[Second Amendment First]

Perfect image. It goes back in every postage paid envelope from AARP and affiliates.

[E. Pluribus Unum]

People are too stupid to know how to save money.

The government has to do it for them. So they can steal it and spend it.

[mo]

Let me guess...this needs to happen ..so government can claim more regulatory oversight of IRA’s..once they are “government mandated” ...basically an mechanism of snooping and controlling.

[taildragger]

AARP in bed with the democrats to find more ways to steal money. You can bet the government will skim their share off somewhere.

SAF...

They want to supplant 401(k)'s etc with what they are calling if my memory s correct a GPA i.e. Gov' t Preferred Annuity or some such rubbish. Esentially a sister program to Social Security with a guaranteed rate of return of 3% (rule of 72's means it would take 24 years to double {epic fail}) and they get if 50% when you die.

Yes this give them a bigger pool for when they "nudge" us into this scheme.....

[Nip]

I have to wonder...

Aren't the Dimocrats the same party that is looking at nationalizing all existing IRA accounts? There has been a year long thread about proposals, which haven't gone anywhere (yet), along that line.

Now they want everyone to have a mandatory IRA?

What has happened, in Argentina, where these two trends merged?

Remember, a century ago Argentina was one of the wealthiest nations in the world. Then came the Peron’s (sp?) and their socialist programs. Look where Argentina is today.

Who says there is no proof of our worries?

[silverleaf]

Ruh Roh

anything the govt makes “mandatory” the govt will claim a stake in.... perhaps having these “mandatory” IRA’s managed by “minority” run investment firms- Franklin Raines anyone?

[gov_bean_ counter]

Who says there is no proof of our worries?

Hey, but we may get farther in the World Cup. /s