screwing with your retirement:
Ghilarducci outlined her plan last year in a paper for the left-liberal Economic Policy Institute, in which she acknowledges that her plan would amount to a tax increase on workers making more than $75,000--considerably less than the $250,000 Barack Obama has said would be his tax-hike cutoff. In addition, workers would be able to pass on only half of their account balances to their heirs; presumably the government would seize the remaining half. (Under current law, 401(k) balances are fully heritable, although they are subject to the income tax.) Bold mine.
So, let me get this straight: in the name of 'protecting me', I'm supposed to be happy about the idea of being forced to put money into a plan which will contain the fingerprints of Barney Fannie Mae Frank and Chris Countrywide Dodd...
No damn thank you.
2 comments:
HAve we reached the Claire Wolfe point yet?
The crash of the share prices and the banks at the time when the first of the post war baby boom generation's pension funds are starting to mature (the biggest ever call on the investment industry)is something I have only heard one person mention:
My old college mate Syd (cynical and miserable genius that he is)...
Keith
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