New Details of Obama’s Automatic IRA Proposal

Although it is "automatic," if the employee does nothing... the employee can opt out at any time. I think this is slightly different than Orwellian government that can "force me into yet another retirement system where I have no control over the investment."

EKD of MA 10:38PM March 23, 2010

Typical big government policy,one must ask why they would force this issue, is it so they can some how tap into this money the way they do the social security trust fund. Do we really need them to guide us in this way. I say no! The best government is the smallest government. They are treating us like children and too many of us are buying into it. To do so is a big mistake and sends us down a slippery slope with an ever growing recipient class and mounting debt, we may lose our inate ability to fight for our survival or worse simply give up and join the freeloaders.

Paul Case of CT 2:07PM March 06, 2010

Let's see. I've been forced my entire life to pay into a - soon to be bankrupt - Social Security system that will offer me no security. The government will soon force me to buy health insurance but the cost of health care will do nothing but increase. And now comes a proposal to force me to put money into a Roth IRA, that will be invested where, the Stock Market perhaps? Oh yeah. My 401K is already a 101K because of the financial shinanigans of Wall Street and lack of Federal oversight. There seems to be no amount of my money the government will extract from my pocket.

Mark Roy of CT 1:23PM March 02, 2010

It would be nice if the government focused on reducing the cost of pensions that union labor get now that they are also paid more money than their non-union counterparts in most instances. This is especially true in government jobs. As for retirement funding, why not make all retirement distributions tax free? Why not increase the amount the employer pays against the FICA contribution since they no longer have to provide a pension plan to their employees. If employers paid 15% and the employee paid 7.5% into SS that could put a big dent in future shortfalls. Lastly, if you really want to solve some of our problems ~ implement a flat tax with no more than 3 brackets with the top bracket being no greater than 20%. No deductions, for anything. No credits, for anything. Withhold the money and their is no reporting required. Eliminate 90% of the IRS, tax lawyers, CPA and Accountants. Let them get jobs in industry.

Ken of MD 11:52AM February 12, 2010