401(k)
July 28, 2016 at 4:25 p.m.
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Have you heard the latest news from Congressional Democrats? Well, of course not, because mainstream media wants you to focus on their agenda, Obama.
Congressional Dems, House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, have in their sights your 401k as their next big score.
Yes, Dems along with Teresa Ghilarducci, a former 25-year professor of Notre Dame, are setting their sights on your 401k accounts.
They think that you're not smart enough to know where and how to invest your money. They cite that there is a wealth of tax money that is slipping away. Tax money that they think they deserve. Your hard-earned dollars, put away by you.
The dems plan is for you to contribute 5 percent per year. But pay no more than 3 percent back per year. No more matching funds by employers, no more tax breaks for employers. No more choice on your part on where it invest. For all that the government will chip in a whapping $600 a year. Oh, and that "capital gain," taxable.
So where will it be? It's in The Lockbox, defined by politicians as Locked Away from You but Accessible to Us. It goes there along with 5 percent of your gross earnings, apparently to play with the 7 percent of your gross earnings that already goes to Social Security. And what do they do with the money? Whatever they please. Do you know that right now that the SS system has $4 trillion of unfunded liability? That means that there are not enough funds to properly fund it. To you and me that means "overdrawn." The projection is that by year 2050, it will be $20 trillion.
Now, think about it: a democrat congress, a democrat senate and possibly a democrat president. What's or who's to stop them? This is only one example. This danger to the fiber of our country is about to befall us. With dems like Chris Dodd and Barney Frank and their oversight of Freddie and Fannie, I'm sure that "this" system will be air tight. Right, make me puke.
Research this yourself. I'm sure you will be shocked at what you find. I can see Palosi and Reid foaming at the mouth now, just waiting for King Obama.
Tim & Helen Conley
Etna Green, via e-mail[[In-content Ad]]
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Have you heard the latest news from Congressional Democrats? Well, of course not, because mainstream media wants you to focus on their agenda, Obama.
Congressional Dems, House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, have in their sights your 401k as their next big score.
Yes, Dems along with Teresa Ghilarducci, a former 25-year professor of Notre Dame, are setting their sights on your 401k accounts.
They think that you're not smart enough to know where and how to invest your money. They cite that there is a wealth of tax money that is slipping away. Tax money that they think they deserve. Your hard-earned dollars, put away by you.
The dems plan is for you to contribute 5 percent per year. But pay no more than 3 percent back per year. No more matching funds by employers, no more tax breaks for employers. No more choice on your part on where it invest. For all that the government will chip in a whapping $600 a year. Oh, and that "capital gain," taxable.
So where will it be? It's in The Lockbox, defined by politicians as Locked Away from You but Accessible to Us. It goes there along with 5 percent of your gross earnings, apparently to play with the 7 percent of your gross earnings that already goes to Social Security. And what do they do with the money? Whatever they please. Do you know that right now that the SS system has $4 trillion of unfunded liability? That means that there are not enough funds to properly fund it. To you and me that means "overdrawn." The projection is that by year 2050, it will be $20 trillion.
Now, think about it: a democrat congress, a democrat senate and possibly a democrat president. What's or who's to stop them? This is only one example. This danger to the fiber of our country is about to befall us. With dems like Chris Dodd and Barney Frank and their oversight of Freddie and Fannie, I'm sure that "this" system will be air tight. Right, make me puke.
Research this yourself. I'm sure you will be shocked at what you find. I can see Palosi and Reid foaming at the mouth now, just waiting for King Obama.
Tim & Helen Conley
Etna Green, via e-mail[[In-content Ad]]
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