Say goodbye to your 401k

Discussion in 'Politics' started by irie, Oct 29, 2008.

  1. irie
    Offline

    irie Member

    Joined:
    Oct 24, 2008
    Messages:
    49
    Thanks Received:
    6
    Trophy Points:
    21
    Location:
    The Peoples Republic of Illinois
    Ratings:
    +7
    How about this plan the lefties are floating around to do away with 401 k's, mandate a 5% contribution to a "new" plan administered by the SSA with a guaranteed 3% return. There would be no benefit for employers to do any matching. Watch out for the Obama, Reed Palosi trifecta.
     
  2. Silence
    Offline

    Silence wanna lick?

    Joined:
    Aug 26, 2008
    Messages:
    3,820
    Thanks Received:
    456
    Trophy Points:
    48
    Location:
    FL
    Ratings:
    +457
    where are you getting that information from?

    I would say post a link but i know you can't so tell us the website please.
     
  3. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    really stupid crap they are resorting to huh?
     
  4. sealybobo
    Offline

    sealybobo Diamond Member

    Joined:
    Jun 5, 2008
    Messages:
    50,765
    Thanks Received:
    3,200
    Trophy Points:
    1,845
    Location:
    Michigan
    Ratings:
    +10,223
    I love you neo kooks. Everything you say about Democrats are things you are doing to us yourselves.

    If you haven't noticed, your 401K is half!!!!

    So the only thing you could possibly say is that the Democrats will cost us the other half? HA!!!

    The GOP said tax increases would lead to a crashed economy. HELLO??? Their tax breaks led to this crashed economy!!!

    Some seeking US aid worked to avoid taxes - The Boston Globe

    Little light reading for you.
     
  5. del
    Offline

    del BANNED

    Joined:
    Sep 3, 2008
    Messages:
    45,052
    Thanks Received:
    9,830
    Trophy Points:
    0
    Ratings:
    +9,885
    here's one, i'm sure there's others
    ABC News: Movement to Scrap 401(k)s Gains Traction
     
  6. sealybobo
    Offline

    sealybobo Diamond Member

    Joined:
    Jun 5, 2008
    Messages:
    50,765
    Thanks Received:
    3,200
    Trophy Points:
    1,845
    Location:
    Michigan
    Ratings:
    +10,223
    How about we privatize our retirements so the rich can crash the economy right before I retire and renig on half my fucking wealth!

    Sorta like they are doing to retirees right now. :cuckoo:
     
  7. Andrew2382
    Offline

    Andrew2382 Gold Member

    Joined:
    Oct 1, 2008
    Messages:
    3,994
    Thanks Received:
    530
    Trophy Points:
    153
    Ratings:
    +537
    House Democrats Contemplate Abolishing 401(k) Tax Breaks | workforce.com

    Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. .

    Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.

    The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.

    “I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

    There is more, I won't link it all
     
  8. del
    Offline

    del BANNED

    Joined:
    Sep 3, 2008
    Messages:
    45,052
    Thanks Received:
    9,830
    Trophy Points:
    0
    Ratings:
    +9,885
    yeah
    :cuckoo:
     
  9. del
    Offline

    del BANNED

    Joined:
    Sep 3, 2008
    Messages:
    45,052
    Thanks Received:
    9,830
    Trophy Points:
    0
    Ratings:
    +9,885
    mine isn't. it's down, but half?? you must have some real sharp investment advisor.

    and that's a good thing because.....?
     
  10. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,431
    Thanks Received:
    12,698
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,879
    Wow, they let some woman speak at a hearing and suddenly the sky is falling.

    :cuckoo:
     
    • Thank You! Thank You! x 1

Share This Page