(POLITICAL) Now THIS is a dumb idea- 401 (K)

[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.

[Jeemie]

Bump.

I have to admit I'm surprised no one commented on this.

This isn't an important issue to anyone here?

[christie1111]

Just REALLY tired of the political threads.

Sigh.....

[Jeemie]

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.

[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.

[Jeemie]

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?