House Democrats Contemplate Abolishing 401(k) Tax Breaks

My gosh.. we already have a failed Social Security program and now we're going to institute a second one.

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House Democrats Contemplate Abolishing 401(k) Tax Breaks
Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.

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, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.

And Kudos to Jeff C for properly stating that the fact that it is sooo silly to point out the socialist make-up of the the Democrats when we have a socialist Republican party that is going to spend well over a trillion dollars this year in implementing socialist economic policies. No wonder the Democratic Socialist are so jubilant these days... they got their Conservative Socialist Republican comrades marching to their every desire these days. I just wonder if the Democrats will recognize George W Bush as becoming the first elected socialist president in US history? Nah... they'll save that honor for Obama. Oh well. We'll all know the truth...won't we?

Oh well again... it's back to hiding assets...

Love Git

401K's

Submitted by Fred Garvin on Thu, 10/23/2008 - 10:19am.

Wonderful. Just wonderful.

The goverment did such a good job bankrupting SS with their ponzi scheme, why shouldn't we hand more money over to them.

What a bunch of friggin' Communists.

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socially securitie

Submitted by Bonkers on Thu, 10/23/2008 - 12:27pm.

I don't know noone who is not gittin their social! Al of hit!

If they run short theyuns will jest borow another trillion or so.

You'll git it.

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Thanks Git

Submitted by buZZard on Thu, 10/23/2008 - 10:14am.

My mattress is already stuffed to capacity, running out of tin cans too!

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