Would Obama, Dems Kill 401(k) Plans?

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If it comes down to it, I'll take the hit, stop contributing, buy a portion of silver, buy two years of non-perishable foods. I already have enough veg oil to run my cars for two years. I've gone solar and will learn all the 19th century skills needed to be a suburban survivalist. I'll buy weapons, learn to hunt and fish, and develop a group of the capable willing to pool their resources, skills, and talents to survive what looks like an upcoming apocolypse ... unless we regain sanity.

Mike Goodman of NC 10:05AM October 21, 2010

http://www.sharedprosperity.org/bp204.html
Here's the GRA (Guaranteed Retirement Account) the position paper by Teresa Ghilarducci. I did, and was stuck by how much faith she has in government (and Social Security) asn an "enduring institution" to take care of our retirement. I did laugh - gut laugh, mind you, at her assertion that "...the Social Security Administration has a proven track record of efficient management."
Her plan includes:
- Mandatory contributions by both employee and employer
- Pooling YOUR money with every other taxpayer instead of having your own account
- Combining, and then equally dividing, your and your spouse's contributions into separate GRAs
- Getting to bequeath only HALF of your GRA - the part you contributed (after it is proportionally split, btw) and not your employer contribution
- Paying a measly 3% rate of return
- Preventing you from tapping YOUR retirement contributions as you see fit before or during retirement (because they are annuitized)
You'll pardon me, but I don't need this help and didn't ask for it. If the government wants to make this available as a VOLUNTARY OPTION for people to save, then more power to them. I might even consider it as part of my investment portfolio.
But that is not what she proposes - instead, its yet another entitlement program managed by your friends in Washington.

David Cole of TX 9:20AM October 20, 2010

I can almost guarantee that the US would be plunged into another civil war if this were to happen. There would be some angry gun toting people out there wanting their money back.

Eric of CA 10:42AM October 19, 2010

Read this. http://www.factcheck.org/askfactcheck/are_congressional_democrats_talking_about_confiscating_ira.html
If our politicians and their supporters spent as much time working together finding meaningful solutions to the problems faced by this country as they do demonizing oneanother, the general public woul express more trust in them. Our politicians are masters at creating disinformation (lies).

Lee of TX 10:41AM October 19, 2010

we must not give in to the democrats.they want to change this country, so the ones who dont work can benfit, from our hard work all theses years . tell people to stop being lazy , and get out and get a job !.

jerry curiale of NY 4:31PM October 18, 2010

Hey Jim of NY. Before you correct someone else's word usage you might want to check your own. "Maybe the air is a little thing up there? Could you possibly have meant "thin"?

ebkita of MO 6:59PM October 15, 2010

I'd like to comment on Pat Henry of AK. You're a little late on your comment, plus "This administrative is capable of anything?" Administration would be the proper term. Maybe the air is a little thing up there? Use proper grammar if you want to be taken seriously. This issue is dead for now. Read inurfaceinvesting.blogspot.com if you want some knowledge about issues like this. This guy predicted the bottom almost to the day in '09

Jim of NY 8:46AM September 12, 2010

the market is made of winners and losers why would the stock market be the place to fund retirement Hello-the losers in the 401-k will not be retiring.
It's time to decide what is more important,RETURN OF YOUR RETIREMENT FUNDS,OR RETURN ON YOUR RETIREMENT FUNDS TO HELL WITH INFLATION WE ARE TALKING ABOUT SOME OTHER PERSON RETIRING WITH YOUR MONEY AND YOU BEING THE WALMART GREETER

LAWRENCE PICCININNI of MD 4:49PM August 05, 2010

It is very interesting for me to read that blog. Thanx for it. I like such themes and everything connected to them. I definitely want to read a bit more on this blog soon. BTW, pretty good design this blog has, but what do you think about changing it once in a few months?
Sara Meetington

sex escort london of AL 4:17AM July 06, 2010

Why do I have to scroll back 7 pages to read ligitimate comments about this article?
This administrative is capable of anything? We are living in the times our Founding Fathers tried to protect us from?

Pat Henry of AK 3:10PM June 17, 2010