Book’s linked article says,
> Some House Dems want to replace the successful 401(k) system with mandatory investment in ‘special’ 3% government bonds.
In addition, they want to force this via a 5% mandatory withdrawal from your paycheck. AFTER taxes. And what will the government do with this new pool of money that they completely control, in an “emergency”? This is *such* an improvement, my gratefulness must be what kept me awake last night, staring with worry at the ceiling. Ooops, not worry… GRATITUDE!
And you will have no choice of where to put it. As if I couldn’t make my own choice of where to put my money, to get an average 3% return over the years. I could scarcely do WORSE. Thank You, Senator Government. Time for us all to take to the streets. With guns. Taxation without representation!
Seriously, what in the hell are these idiots thinking?
Government POWER, controlling more and more decisions in your lives.
Remember, Social Security was supposed to be “special” as well, and protected. For decades it was.
Then it became nothing more than a line item in the entire federal budget. And then they spent its entire surplus on other programs. IOUs and national debt is what Social Security is now, compared to where its funds ought to stand. In twenty years the financial tsunami will hit, and make this current credit crunch crisis look like a tiny babbling brook.
Your 3% government fund, mandated by a 5% mandated post-tax seizure by the government, will disappear into general funding as well. Even if you reluctantly agree to go along with this thievery for your own god-awful unknown reasons, the money will disappear. Spending is what government always does best. Count on it.