Forget about whether these are a good idea or not. You’re missing the big picture. You need legislation to create these. He is just legislating by executive fiat, and taking it to a whole new level, in my opinion.
If I like your IRA I willl keep your IRA. I guess that is the operative phrase here. Meanwhile, I guess the Treasury under this scheme will be the custodian of these accounts. Seems to me that is not a financial institution covered by any of the IRA legislation to date. Ah, the operative word, legislation.
“You’re missing the big picture. You need legislation to create these.”
Even more basic: You need jobs to buy these.
THANK YOU!!! THAT is the real problem.
Yes, they're a bad investment. Yes, they're being pitched to people who likely won't buy them unless compelled. Yes, they're likely a first step toward stealing our real 401(k), 403(b) and IRA savings.
But worst of all, by far, is that Barry Benghazi DOES NOT HAVE THE AUGHORITY to create them. Hi is acting lawlessly and unconstitutionally. He has created himself God Emperor, and is daring anyone to call him out on it
Barack Hussein 0bama is a criminal and a tyrant and belongs in prison.