I feel like I’ve entered the Bizarro World. So many avenues of attack against Obama and yet none of them seem to gain traction.
Marxism plain and simple
I honeslty don’t know at this point where McCain’s position would be on this. No Clue.
Social Security votes Vs. 401k votes.
A portion of the American voting public are about to admit to us through their votes that, after years of liberal-controlled schooling, they don't give a crap about all that "justice" and "what this country was founded for" junk and just want the government to redistribute wealth.
I usually brush a lot of this stuff off, but this time it's scary.
It would make more sense to take away the tax break going into the 401ks. They can’t seize the money that is already there and exchange it for gov’t bonds. They just can’t do that. It’s not their money and it would be very difficult to tax it at the rate that it would have been going into the 401 k. My husband has been paying into his for as long as they have been in existence and before that, it was an ESOP plan, which was after taxes. How are they going to tell the difference?
“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.”
You see, when you get a “tax break” then that was really money that belonged to Congress and Congress should have gotten that money for its wealth and income redistribution schemes. So, all you 401K cheaters of Congress rightful revenue, you WILL give it back!!! /sarc
Frickin Marxist Democrats are sending this country down the tubes.
“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.”
Hahahhahaa...these people are insane! Yeah, just what I want to do, trade my investments for the toxic US junk they just bought up from wall street. I so trust US gov’t bonds now...unbelievable the depths these criminals will go to to steal from us now. If the rats win and they come after all we have left, sounds like we need another Boston Tea Party to get things rolling.
Do I really want to look up this school? I can almost tell from the name that they probably invest more in 5-year plans than stocks.
So anyone contributing to a 401K is one of the "highest-income earners"?
truly evil
If these clowns get elected - in two years it will be a 70% Republican congress. Trust me. All my freinds, business owners, and myself are pretty much going to fire all employees we can telling people who stay ‘do three jobs or you’re gone too’ it’s real simple - it’s not worth even doing business under this type of environment. Better to do all work myself or just keep powder dry until things open up again and become profitable again (read: republican tax and business policy)
No way will even the media stand for 25% unemployment as thier messiah wrecks the economy.
Heaven help me! This will gut me.
I call BS. There's a ratio requirement between higher & lower paid employees in a group.
http://www.cpas-401k.com/401k-compliance-testing-rules.html
The only reason the rich guy gets more of a tax break, is because his income puts him at a higher tax rate. When they call a reduction in liability an expenditure (note the highlighted word "spend" in the statement above), they're showing their cards. The government owns everything & they give you a gift when they allow you to keep more of what you've earned.
As if those huge "401k tax breaks for the wealthy" have paid off so well for the "wealthy"... Well if that's what the American people want then damn the torpedoes, full steam ahead to oblivion...
Maybe some Kool-Aid drinkers will have second thoughts if they learn about this proposal. The Libs are going to take voter angst as an endorsment of their crackpot economic ideas and end up back in the minority for a long, long time.
Hubby and I are convinced they will find a way to tax our Roths when we get to retirement. There is no way they are going to let us “steal” that money from their wealth redistribution program.
The Democrats have been eyeing this juicy untouchable revenue for decades and are constantly scheming on how get their slimy hands on it.
Imagine what this will further do to the Stock Market? With Obama’s 20% (making it 30%) increased tax on Capital Gains and this in top of it, Wall Street will become a ghost town.
One thing these Socialists also all have in common is, when they plan these raids on the Constitution, they act as though we do not exist or matter. That is, WE, the ones who earn the money that drives this economy and country.
It’s as though every thing we have or earn is their property and they have the right to freely take what they need.
Damn. That means they can control us more. I mean that Social Security is paying pretty good. Bastards.
my wife and myself have done without the expensive crap, the fancy cars and vacations, the extra nice clothes, and put our money away so we could retire in comfort. We have been doing this for 25 years. Now, some blowhard piece of human excrement wants me to give it to them to manage!!! This will be a call to arms....