Democrats Planning To Target 401k’s?
Another potential threat to our freedoms – in this case our economic freedoms – has been flying under the radar. According a recent article in to Capital Commerce:
House Democrats recently invited Teresa Ghilarducci, a professor at the New School of Social Research, to testify before a subcommittee on her idea to eliminate the preferential tax treatment of the popular retirement plans. In place of 401(k) plans, she would have workers transfer their dough into government-created “guaranteed retirement accounts” for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return.
Essentially, Democrats are considering taking away your right to manage your retirement as you see fit.
Here is another article on the issue from investmentnews.com: House Democrats contemplate abolishing 401(k) tax breaks
On yesterday’s Mark Levin Show, Mark interviewed Mrs. Ghilarducci regarding her plans. Click here (begin at 55:15) to listen to the interview and judge for yourself if Mrs. Ghilarducci is someone you want dictating how you can save for your own retirement and determine your own destiny.
With just one week left until Election Day, this provides a window into what an Obama-Reid-Pelosi government has in store for us. If for no other reason, we need John McCain in office to stem what will be a radically Left/socialist agenda that will erode our liberties and seriously threaten our prosperity.
