House Democrats Contemplate Abolishing 401(k) Tax Breaks

Thursday, October 23. 2008

House Democrats Contemplate Abolishing 401(k) Tax Breaks

Brilliant ... Some House Dems want to replace the successful 401(k) system with mandatory investment in 'special' 3% government bonds.

These people are clowns. Is anyone paying attention?

Posted by Tom Elia in Politics at 09:13 | Comments (4) | Trackbacks (0)

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Idiotic is too mild a word for this idea. But like several democrat proposals, it has the potential to tank the capital markets all by itself.

#1 rightguy on 2008-10-23 10:46 (Reply)

Calling this an idiotic, or a half-baked, proposal would be an insult to idiotic and half-baked ideas the world over.

Of course it's Rep. Miller (D-CA) and Rep. McDermott (D-WA) -- both very big 'progressives' ...

#1.1 Tom Elia on 2008-10-23 11:04 (Reply)

Government bonds means a quadruple win for liberals: Vastly more money for government programs, vastly less money in private sector enterprises, huge opportunities to skim a percentage for their own benefit, and endless opportunities to use the dispensing of that money to control what people do and say.

#1.1.1 pst314 on 2008-10-23 11:48 (Reply)

I agree with all of that except that the current dems are not 'liberal' at all- they are socialists who think they can control the economy just as you adjust the temp of your shower at home. They have no idea how capitalism works and they don't want to know.

#1.1.1.1 rightguy on 2008-10-23 13:20 (Reply)

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Thursday, October 23. 2008

House Democrats Contemplate Abolishing 401(k) Tax Breaks

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