Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Considering that this President comes from the worst state in the nation on a debt per citizen basis, it's no surprise that the man who absolutely hates HSAs hates having his fellow citizens controlling their own pocketbooks.
How many other countries penalize people for saving their $$$$$?
I guess you have missed out on some other things they have done or tried to do just these kinds of things. As I said earlier we must keep our eyes on which house of Congress this attempt comes out of since this would amount to tax law and only the Senate would originate such a law these days. Have you seen me mention that the Constitution says that revenue bills must originate in the House. That makes revenue bills that originate in the Senate unconstitutional.
Like a big recent one did and should fall flat on it's face due to it's unconstitutional nature.
This would require us to contribute 5 or 10% of our income or how much the government mandates into a retirement program. It would be like a huge tax during our working years but it would pay off in our later years.
Likely would end up in the General FUnd, stolen for sqaundering as SS has been.
Are we to ignore our lessons over decades of experience with such?
This article was written in 10/2010 and funny how no other publication has picked up on this fear mongering in the two years since it was written. Click on the 'Issues' tab... Rationing Medicare, Death Panels, etc??? This is a rightwing nutjob anti-Obama piece of crap.
Is there an unbaised source link that contains facts such as dates, quotes, etc.?
While the OP link may be questionable there is a movement to change pensions.
It's called SCP (Secure Choice Pension).
California passed a bill and is doing it at a state level.
The bill passed guarantees the accounts 3% annual return.
COLUMN-Is new wave pension plan California dreamin'? | Reuters
The state's legislature recently passed a bill laying the groundwork for the California Secure Choice Retirement Savings Program (SCP) - a government-sponsored retirement-savings vehicle that would be offered to employees of every California company that doesn't have a workplace retirement plan.
..
In Washington, the Obama Administration has been pushing the Auto-IRA as a national solution, a plan that would require employers with more than 10 employees and no pension coverage to contribute three percent of the worker's salary into an IRA that benefits from various tax credits. The Administration also has proposed a set of policy changes aimed at encouraging use of commercial annuities alongside workplace accounts as a way of improving guaranteed income in retirement.
And last month, Senator Tom Harkin (D-Iowa) proposed a mandatory cash-balance defined-benefit program for employers who do not offer a minimum level of retirement benefit via automatic payroll deduction.
..
A key question is how the SCP would be treated under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Service code. Before the SCP could go forward, the state will need affirmation from the Department of Labor that the plan is exempt from ERISA, since it utilizes IRA accounts and is not an employer plan. And the IRS would have to sign off on the use of pre-tax payroll contributions.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
