[Red Badger]

They already did! Mine’s down by 35%!................

[St. Louis Conservative]

Hold on to your wallets. These people are going to try and squeeze every possible dime out us to pay for their massive expansion of government that they want. When will they take away the tax benefits of the the Roth IRA? I predict that is next.

[patton]

401(k) is a hoax. Congress will find a way to steal it.

[Incorrigible]

Yep. I knew if I spent my Friday nights in the science library and then worked hard and saved my money for retirement, they’d eventually get around to taking it from me and giving it to the lazy and unproductive.

I should have put it under the mattress.

Or just spent it all without a care in the world and wait for the government to take it from people like me.

[sierrahome]

Where does stupid end and evil begin?

(that’s a low hanging pitch you may now knock out of the park)

[OpusatFR]

“Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds, suggested Teresa Ghilarducci, an economics professor at The New School for Social Research in New York.”

I’m from the government and I’m here to help.

Maybe if we had decent interest on savings that would help. I’m not putting money I earned into the governments hands willingly. Of course, we may not have a choice.

[NonValueAdded]

THAT'S HOW THEY RESPOND, WITH A TAX INCREASE???

YES, I'M SHOUTING. A NEW BUMPER STICKER:

I WANT CHANGE!
FIRE CONGRESS

[uptoolate]

They really are encouraging a coup on Capital Hill, aren’t they?

[Paine in the Neck]

Here it comes! If Obama gets in there will be wholesale, unbridled money grab by the democrat congress. The biggest pool of wealth available to rob is retirement accounts. It’s also convenient that much of that is owned by the evil rich. Thus, there will be no guilt attaching to its seizure.

[silverleaf]

Wow- the gubmint that set up the 401K investment system is NOW going to “allow” us to trade in our 401K’s for gubmint bonds - backed by the full faith and credit of the US gubmint! Will those new bonds have Hank Paulsen’s picture on them???

Where can I sign up???!!! sarc

This news is really going to boost investor confidence in our financial institions and markets, i’nt it?

(any chance the “lemon law” can be used to turn in our Congress and get a better model?)

[Bloody Sam Roberts]

Here's an ping for ya.

When do we get to start tarring and feathering the rat bastards again?

[astounded]

Looks like the democrats are starting to implement Obama’s socialist gameplan. Watch out for your 401ks, people. They will try to take them from you, in the interest of “fairness”. This could be the start of a real war.

[IbJensen]

It’s almost time for the revolution.

[ProtectOurFreedom]

Uh oh. Be VERY AFRAID when you hear the words "higher income" come out of the mouth of a Congress critter. You just KNOW they are talking about YOU. Just because you make over $75k, you don't deserve a 401(k) and will now be required to send the money you were going to invest to some poor slob who doesn't work for a living.

[stylin19a]

“The way the government now encourages 401(k) plans is to spend $80 billion in tax breaks,” which goes to the highest-income earners, Ms. Ghilarducci said.

Huh ? How did she come to this conclusion ?

[squarebarb]

I knew those damn things weren’t safe. I pulled mine out to pay some taxes, and every bit of profit I had made on it went to IRS and then the rest went to pay capital gains taxes my accountant had not calculated. Left me with nearly nothing in IRA’s so now I just keep everything in money market.

[raybbr]

Regarding the previous "discussion" on how new taxes were going to pay for the bailout.

[Koblenz]

Right now, there’s a high income test for 401Ks: that is, if your company doesn’t have many lower wage/salary people in the 401K, then the higher income people cannot contribute the full amount. This is to encourage companies to set up matching. Now, if we don’t let high income people (aka. the management) put money into 401Ks, that’ll kill the entire concept. If this goes through, no more 401Ks.

[listenhillary]

I love this. When they don't take our money, they call it investing.

“We’ve invested $80 billion into subsidizing this activity,”

[longtermmemmory]

translation: retirement planing is going to go outside of 401k’s.

congress is stuck on stupid.