Saturday, June 27, 2009

Mandatory Savings?

I don't get it. Maybe someone can explain it to me.

"Obama’s plan for IRAs does not make the accounts universal. Instead, it targets employers that don’t offer a retirement plan to workers. But like Social Security, the benefit would be automatic. If workers aren’t given a 401(k) or similar option, then their employer must automatically open an IRA on their behalf and make contributions through direct deposit, pulling the cash from the workers’ paycheck. Employees who don’t want to participate could opt out."

  1. "But like Social Security, the benefit would be automatic."
  2. "their employer must automatically open an IRA on their behalf"
  3. "pulling the cash from the workers’ paycheck"
  4. "Employees who don’t want to participate could opt out"
Now (if I understand this right) his plan would force (the word "must") employers to automatically take our money like Social Security (whether we like it or not - again, "must"). With all that definitive talk, we could opt out if we wanted. So I ask you.....

Why would we want the government to make us do another Social Security-like thing, as well as they've handled it?

What's the point of forcing employers ("must") to take our money for an IRA - and allow us to opt out if we want to?

You have to do it, but you don't have to????

How about "do nothing" and let me contribute to an IRA if I want to - through payroll deductions if I want? Stay out of my wallet.

All I can see is that they want to control more of our personal finances. If this goes through, they will have control of yet another aspect of our personal lives.

  • Ask and ye shall receive.
  • You get what you ask for.
  • "Change" is not always good.
  • "Fundamental change" can be catastrophic.
  • Those who forget the past are doomed to repeat it.
The sad thing is, only Liberals/Democrats can change it. Think about it. Does the Democrat [sic] Congress listen to the Republicans? Or do they just let them talk and ignore them - and do what they want without any consideration? Are there any Liberals that will listen to a Conservative and take them seriously? Are you taking my comments seriously? For our sake as a Free Country - I hope so. If not, it will fundamentally change, and very few will like it.


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