Republicans Sound Alarm on Administration Plan to Seize 401(k)s | |
Anonymous Coward User ID: 939950 United States 05/08/2010 01:26 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 960369 United States 05/08/2010 01:29 AM Report Abusive Post Report Copyright Violation | This is an issue the Republicans should really continue to stress going into elections. I guarantee my entire family of lifelong "blue dog" democrats would vote republican if they knew about this issue. Thanks for the post OP. I cannot believe that apparently 30% of the US population supports government confiscation of their wealth. It is just so surreal. |
Anonymous Coward User ID: 960369 United States 05/08/2010 01:29 AM Report Abusive Post Report Copyright Violation | |
Fool User ID: 902341 Canada 05/08/2010 01:30 AM Report Abusive Post Report Copyright Violation | |
Say-It-Loud User ID: 964301 United States 05/08/2010 01:33 AM Report Abusive Post Report Copyright Violation | Yes. Because they did such a wonderful job taking care of Social Security which the promised would not be touched and would sit in a locked box in trust for the people paying into it. and of course they raided it and it is BROKE. So, if you are thinking you might be able to escape eating catfood as an elderly person by managing a decent 401K, the government is there to help again. |
Anonymous Coward User ID: 960369 United States 05/08/2010 01:33 AM Report Abusive Post Report Copyright Violation | Who paid them to speak up, or are they talking from the goodness of their hearts? Quoting: Fool 902341Probably just good politics. Then again I am sure Wall Street is supporting it, considering a government confiscation of 401k's would take trillions out of the equities market. Either way, I don't care about their intentions here, I care about their actions. You have to be a real fucking moron to be all for the government confiscating the vast majority of middle class American wealth. Because the middle class was relying on the value of their homes, you know where that is going. |
Anonymous Coward User ID: 947783 United Kingdom 05/08/2010 01:34 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 960369 United States 05/08/2010 01:40 AM Report Abusive Post Report Copyright Violation | It sounds like a 401k is like a private pension fund (UK) Quoting: Anonymous Coward 947783If it is like a private pension, that is just shit crazy!!!! What's next gold, home, savings confiscations? We have private pensions as well. These are private retirement accounts set up by employers and financial service companies. A person can choose to have up to (generally) 8% of their salary stored in a account and their employer matches their contributions. It is like free money. Really is great. Generally the options you have for investing are not that great. It depends what financial service company the employer goes with. Vanguard is fantastic. Great mutual fund choices. |
Anonymous Coward User ID: 896722 United States 05/08/2010 01:52 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 964352 United Kingdom 05/08/2010 02:02 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 813550 United States 05/08/2010 02:11 AM Report Abusive Post Report Copyright Violation | The reality is unless you have $1mil or more in your 401k or a city, state or federal employee pension (not too many corporations offer that anymore), retiring isn't going to be an option for many of us. I have almost $200k in my 401k at fifty years old, couple more years, maybe $300k, but how long is that going to last? Not 20 years....if I could trade it in for a guaranteed income till I die, might not be a bad deal....The devil is in the details.... |