Sebastian points us to a story at Investment News:
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.
Mad yet? Heh, you ain't mad yet:
all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5% of their pay into a guaranteed retirement account administered by the Social Security Administration.
Don't we already send money to the SSA? I know I do.
They do such a great job with what we give them now, I'm sure they'll handle that 5% just fine.
I have to go, someone's on the phone wanting to sell me oceanfront property in Arizona.
.
2 comments:
Drive a hard bargain on that AZ property, but get some... All it will take is one good earthquake and CA and their 58 electoral votes will slide off into the pacific and we'll be sittin' on the beach ;-)
Word verification: obscr (obscure)
Ah, that's a scenario I could live with.
Post a Comment