Originally posted by djpaec
reply to post by MAINTAL
Type of discussion you say? Take all of our money you say? Doesn't sound like typical republican taking point to me...
Except I thought what they were discussing was ending the subsidy, visa vi no tax, on 401(k). But that's just me trying to find someone elses' opinion of it besides the obviously skewed Carolina Journal.
From your own source as proof
"so Democrats will seize on the opportunity to attack a program where investors control their own destiny,” he said. "
"In retrospect that doesn’t seem like such a good idea to me,” Andrews said. "
My sentiments EXACTLY!
" most political observers believe that Democrats are poised to gain seats in both the House and the Senate, so comments made by the mostly Democratic members who attended the hearing could be a harbinger of things to come."
Which justifies my concern also!
From your own source
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 words "REQUIRED" and ALL workers. Did you get that part? all wORKERS?
will be REQUIRED to invest 5% of thier pay into a guarranteed retirement account. where I would get a whopping 3% ROI WOW! That scares me because it is a guarranteed LOSS which I have already explained in this thread.
Why would anyone want the Government to force them into another type of retirement plan when it loses money and they have already proven they have mis managed every other one.
[edit on 12-11-2008 by MAINTAL]