MyRA! MyRA! MyRA! MyRA! MyRA!
-PJ
Creating an unimaginably HUGE political slush fund (run by a hand-picked Socialist, of Course), to buy votes, and make huge payoffs to political cronies.
Your money will buy "bonds, just like Social Security does. WHAT COULD POSSIBLY GO WRONG???
And when it fails, which it eventually will, they will confiscate those "UNFAIR!" private retirement accounts, just like Poland did.
I can see already see the hand-writing on the wall for this, as clearly as if I was standing 20 years into the future.....
I don’t see how this can amount to any significant amount of money.
It’s targeted toward groups that have no income available to save.
And in Baraq’s America, the state of those folks is deteriorating by the day.
“If you like your 401(k), you can keep it.”
contribute part of their wages to the savings accounts, which would be backed by the U.S. government”
...then, it will be confiscated by the US Government.
And I want to lock it up and assume a potential penalty.....Why????
And I want the government to know all about my savings accounts why??
And when I owe a doctor bill, they can raid this money.
Ah hah...
They want you to buy bonds. It’s the only way they’ll be able to keep the debt growing without defaulting.
China doesn’t want to finance our out-of-control borrowing anymore. It will be up to ordinary citizens here to keep the gravy train moving.
Ultimately the goal is the Theresa Ghilarducci centrally managed pension scheme. Among other things this will allow them to absorb and cover all of the failing union pension plans out there.
Just trying to grow a(some) pot to grab(smoke) later.
Where is the constitutional authority for the president to do this?
“Your money will buy “bonds, just like Social Security does.”
Remember when President Bush wanted to ‘privatize Social Security’? His mistake was not putting these type of accounts in place first, THEN pulling Social Security benefits. Think Cyprus Annnd It’s gone.....like South Park
MyRA! MyRA! MyRA! MyRA! MyRA!
-PJ
We all know now -- because they have told us -- that when a Progressive or Statist uses the term "encourages", they really mean "mandates".
It's not mandatory at first because they need a little time to get the infrastructure set up to accommodate the initial suckers. It becomes mandatory later with the stroke of a pen, or buried in a thousand-page bill.
they’re already taking 15% of my income... how about we just put that into this new load of bullsh*t?
or are we supposed to forget the 15%, realize all that money’s gone, and ‘trust’ the same people with even more money out of my weekly check?
yea... i’d have to be a special kind of stupid to think this’ll end well
“as clearly as if I was standing 20 years into the future.....” Three or four years should do it.
What a joke! But I missed the details? I guess it doesn’t matter, it has to be a plan before we know what’s in it. Right?
Who’s Myra? And what’s she done with my money???
... There have been plans in the works ever since the start of this administration to take control of Retirement Accounts and I have been warning people about this since day one. I fear you are correct .... this is the initial step towards the government takeover of private retirement plans.
Only a SUCKER would invest in Federal debt that is going to be inflated away! NEVER invest with the DISHONEST!
A honeypot for retirement monies. Which will be bailed in at the soonest opportunity. Or, perhaps even more likely, you will be required to convert your 401(k) to these. THEN it’ll be bailed in.
Can we all say income redistribution?? OK Say it again until you understand that Obama always wants to take your money and give it to people who don't/won't work so he can buy more votes with it.
Will you willingly walk down this path to communism.