Hillary Clinton recently announced that she intends to steal from successful people with another tax to fund 401ks for everyone else. Can you say socialism. Apparently she wants to start "American Retirement Accounts", where family's would sock away up to $5,000 and the government would match with another $1,000 for any household making under $60,000, and $500 for those making $60-100,000.
She plans to pay for these matching funds by stealing,(oops) I mean taxing estates over $7 million at a cost of $20-25 billion. Why she ignores the fact that people can create their own savings plan already I don't know. Or why people choose not to take advantage of IRA's that are tax deductible already.
Her example families presumably can afford to contribute $5,000 towards their retirement. Then why do they need to have the government mandate an American Retirement Account?" Annual contributions of $5,000 for 30 years with a modest 8% would accumulate over $650,000. So families need government help with funding still?
Another democrat slash socialist plan to take more money from successful people to fund others who refuse to plan ahead. Why do Democrats feel compelled to turn the US into a nanny state? We all have the option of saving thru IRA's and other methods but people choose not to. We need a good conservative voice of common sense to stop these sensationalist liberals!
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1 comment:
Bill,
Also, don't we also have social security? So, if Hillary's elected, not only are we going to have an underfunded social security plan for retirement, but also a "401k for everyone else", which will also likely be underfunded.
Underfunded, but funded too much nevertheless. We don't need any more taxation to pay for more class-warfare-welfare programs.
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