Posted on 11/28/2019 9:30:37 AM PST by karpov
Buttigieg “is proposing to create a government-run.
One version of this proposal, popular during the Great Recession, was that 401Ks would have to invest in “safe” options. AKA, part of every 401K and IRA would have to invest X% in government bonds. It is essentially confiscation of wealth.
So he wants to RAID SOCIAL SECURITY!!! Great idea, Pete.
[Now, I don’t know if it’s a raid or not, but what the hell, if we play by Democrat rules we’ll just claim that to be the case]
And you can have a private IRA even if your job doesn’t come with a 401K. Or contractors like me who don’t get a 401K.
How’s this different from an HSA?
The government has been wanting to take over IRAs/401(k)s for quite some time.
“Look at that pile of money just sitting there. The privileged people who own it obviously don’t need it. Let’s spend it!”
I’ve seen estimates, that Americans have collectively saved over $10 Trillion in 401K type accounts. That’s serious money, which Democrats/liberals/radicals/socialists, would love to get their hands on.
The justification would be, that having government take control of those funds, would “save” us from the ups and downs of the stock market or other investments. They would ensure we have a “safe” rate of return, never lose principal, etc.
The next time we have a Democrat president and Democrat congress, I expect efforts will be made to commandeer our private retirement savings. And it will be said to happen for our own good.
(crack)Pipe dreams
Everyone takes it in the rear. Pete likes it...
Only a moron would want the govt involved with any kind of “savings program”. The communists would immediately find a way to steal it as they have with everything they’ve touched....not only NO...heck no!!!
him and his “husband” = Mr & Mrs C. Glezmer
Gee, where have we heard this before...??
Because the guberment is so good on handling money?
Will Buttigieg be considered the first female president, because he is the “wife” in his homosexual relationship?
If they really want the money, end the IRA and 401-k programs, make all the income obtained immediately taxable, at marginal rate of the “windfall” yup that would just be great fun. Stock market crashes from the forced equity liquidation.
The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Don’t we call that an IRA?
He can be Hunter’s dildo.
What could possibly go wrong?
I am pretty sure libs like him invest in private stocks. No way this douche will put money in this failure.
A friend of mine said that if young, you invest in quiet companies with zero government ties or strings attached, and then dont look for 20 years. The result of his own attempt at this was that all companies with government ties had stagnated while the others were multiplied by 10, if not 20 in the case of free Hong Kong.
I think several years ago HRC discussed something like what you are talking about. I believe she proposed the govt. taking charge of your 401 funds, in return for a guaranteed 2% rate of return. Thus, the govt. can guarantee a pension to all of us, apparently even to people that never worked, worked very little, or even if you spent all of your money at the local tavern during your working years instead of saving it. “Everyone deserves a retirement”, as she put it.
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