That is NOT what this House bill at link proposes.
This bill directs employees to set up IRAs for employees that they can opt out of.
And those private savings accounts for retirement can invest in private bonds or funds.
But naturally this just HAS to be spun into ‘AHAH,Obama making his move to seize all our savings’ .
But first before he can steal most Americans $$$ which many have NONE he has to get the GOP to twick us into saving money for retirement, so he can then steal it. How about this ?? Lets foil Obama by each of us spending ourselves into bankruptcy. Then he cant steal nothing. We all go n food stamps and Obama-care then we win.
Oh brother.
I get you, but problem is that liberal proposals for meddling with private IRA’s has been cropping up in one form or another for the past decade.
So when you hear any liberal mention private IRA’s, there is a knee jerk reaction that they can’t be up to any good.
At the very least, Democrats (Rep. George Miller, e.g.) have advocated limiting any tax advantages IRA’s have. Not fair that people who save get tax advantages and those who don’t save get none, he claims.
I can’t find the source now, but there was a proposal that the gubmint would restore the amounts lost in the recent crash and guarantee a certain % going forward if people would turn over their IRA funds to the gubmint. I’m not joking. This came from a lib bureaucrat.
Sounds great, doesn’t it? Especially if you lost a lot in the crash, which many did. But it’s just another Ponzi scheme and another way for libs to get their grubby hands on money for their union pals and to buy votes.
They’d never just outright say, we’re going to seize your IRA. There would be a pot sweetener for those who got on board first and it would be entirely voluntary, then every crisis would be used to slowly make it mandatory.
Just like Obamacare. Now it’s kind of “mandatory”, but you can weasel out with a small penalty-much smaller than the cost of buying insurance. Eventually that penalty will increase to the point where it is many times more than the cost of the insurance. Then people really have no choice but to buy insurance unless they want to stand on principle.
It always starts small and seems so harmless.