[Oshkalaboomboom]

Anything the feds touch, they break.

Remember when the GOP used to be the party of balanced budgets and cutting spending? Paul Ryan's penny plan? Thanks to Donald J. Trump we now know that their calls for spending cuts and balanced budgets were as false as the ones they made for repealing Obamacare. Nothing but lies designed to fool their constituents into believing they were somehow different from the Democrats. Thank you, DJT, for exposing them.

[blackdog]

That which the government gives, provides also that they may taketh away. Along with 40 years of your hard earned contributions.

[blackdog]

A lifetime of frugality in order to provide for my own retirement meant old used cars, no vacations, used furniture, hand me down kids clothes, cooking at home instead of restaurants, etc....

Chump.

[dsc]

Didn’t say what they want to do, or even who “they” are.

[SkyPilot]

Wait until the next real financial crisis.

You don't think the Federal government, in times of incredible desperation, is going to leave 401Ks and IRAs alone, do you?

From American Thinker:

The Feds Want Your Retirement Accounts

http://www.survivopedia.com/could-the-government-seize-your-401k-or-ira-money/

There is already a precedent. During the financial stand offs in 2012 and 2013, when they could not pass a budget, much less a Continuing Resolution, the Treasury said they were forced to take "extraordinary measures" to fund the government, and dipped into the Thrift Savings Accounts of Federal retirees and employees.

If people don't believe the government can take IRAs and 401Ks, they are dreaming. They can squawk "no legal standing" all they want. If things get bad enough in a "Crisis", watch out.

[trebb]

Remember when the GOP used to be the party of balanced budgets and cutting spending? Paul Ryan's penny plan? Thanks to Donald J. Trump we now know that their calls for spending cuts and balanced budgets were as false as the ones they made for repealing Obamacare. Nothing but lies designed to fool their constituents into believing they were somehow different from the Democrats. Thank you, DJT, for exposing them.

Yep - that's the main reason they hate Trump - he deals in keeping promises and not spinning excuses. Had to bite my tongue when Ryan said they weren't elected to defend Trump....he seems to ignore that they aren't doing any of the things they promised in order to get elected....

[grania]

The auther writes:I can't understand why Washington half-wits can't just do a simple tax cut and walk away

DC Swampthings are incapable of tax reform that doesn't benefit them and their deep-pocket donors.

[Dixie Yooper]

big problem brewing on Capitol Hill, where some politicians still don’t have their priorities straight

And that's as close as this story gets to saying who even said that? I remember listening to Nancy Pelosi talk about it during a press love-in(conference) 5 years ago. Second crappy article of the day without a source.

[Mr. Jeeves]

Just cut every tax rate by 5 percent, and let the paychecks rise, let businesses find America a more appealing place to do business, and bask in the glory of growth.

That would push the start of the Eternal Socialist Utopia further into the future - an outcome totally unacceptable to every single Democrat and not a few Republicans.

They were so close with Obama - they aren’t going to let this Trump creep ruin it all. :)

[redgolum]

Many years ago, when I had my first 401K, my late grandfather sat me down and chewed me out.

He said that any money in a 401K was actually “government” money, and that they “would come take it back” once the pot was big enough.

He grew up in WWI, married in the 20’s, and raised a family in the Depression and WWII. He had a very healthy distrust of government.

I should have listened.

[AnotherUnixGeek]

The pols are under the disconcerting delusion that raiding workers’ 401(k) plans is a way for them to “pay” for the tax cuts they will grudgingly give us.

What is it about the term "tax cut" that the GOP does not get? The idea is to cut taxes, not to play games where one tax is lessened for their favorites while other taxes are raised by setting limits on 401k contributions. What worms we have in Washington.

[jdsteel]

Democrats have already laid the groundwork for raiding 401(k) plans. It’s called “Guaranteed Income Annuities” and the idea was to carve out 20% or so of each 401(k). Of course the government would handle the annuity payout. It was part of the DOL changes to 401(k) plans several years back, and the DOL expansion into IRA’s that is happening right now.

[grey_whiskers]

This article is why.

GE (Greedy Executives) forced employees to invest in 401(k) plans which IT administered: picking up management fees while underperforming.

And "fiduciary duty" means the companies have to monitor underperforming funds and winnow the poor ones, rather than choose the fund based on which funds salespeople provide the hottest $1,000/hr callgirls to the executives making the decision /snark>

Lawsuit alleging General Electric ripped off its workers shows the pitfalls of 401(k) plans