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(POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 10:30 am
by Jeemie
http://www.workforce.com/section/00/art ... /83/58.php
Some house Democrats are considering abolishing the tax breaks that come with 401 (K) accounts.
I can think of no justification for doing this...saving should be ENCOURAGED, not DISCOURAGED, in this country.
This is an over-reaction to the current financial crisis and yet another example of some talking heads in government thinking we're too stupid to save wisely for our own retirement.
Re: (POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 6:33 pm
by Jeemie
Bump.
I have to admit I'm surprised no one commented on this.
This isn't an important issue to anyone here?
Re: (POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 6:34 pm
by christie1111
Just REALLY tired of the political threads.
Sigh.....
Re: (POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 6:36 pm
by Jeemie
christie1111 wrote:Just REALLY tired of the political threads.
Sigh.....
I am too...but this, IMHO, is a MAJOR issue.
And there's no spin required to make people "look bad" on the issue.
I wish I knew how Obama stood on this idea.
Re: (POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 7:51 pm
by mellytu74
I thought I replied to this.
I didn't get the chance to really look at this today. I agree that it is an important issue and didn't want to comment without reading more about it.
I know that earlier in the year, Rep. Miller was holding hearings on 401(k) fees and transparency but thought it was kind of off the table.
Re: (POLITICAL) Now THIS is a dumb idea- 401 (K)
Posted: Tue Oct 21, 2008 7:56 pm
by Jeemie
mellytu74 wrote:I thought I replied to this.
I didn't get the chance to really look at this today. I agree that it is an important issue and didn't want to comment without reading more about it.
I know that earlier in the year, Rep. Miller was holding hearings on 401(k) fees and transparency but thought it was kind of off the table.
Yes- I agree that the fees charged may need to be looked into, but the solution is not to discourage savings by ending a tax break without which some lower income earners wouldn't be able to save at all.
And we already have a government-controlled retirement investment program- it's called Social Security.
How has the government handled THAT?