TW>    The current system of providing tax breaks on 401(k)
TW>    contributions and earnings would be eliminated.

TW>So, instead of getting around 15% on my 401k investments, I'll get a
TW>government bond at 3%. Why don't they just kick me straight in the
TW>groin while they are at it? Seriously, this is what passes for a
TW>reform to Democrats?

TW>John Belluardo, president of Stewardship Financial Services Inc. said
TW>it best when he said, "From where I sit that's just crazy...If the
TW>tax deferral goes away, the employers have no reason to do the
TW>matches, which primarily help people in the lower income brackets."

TW>But the problem with the 401k plan is it's seated in individual and
TW>personal responsibility. And another big factor is the billions of
TW>dollars the Democrats don't get to tax. Both of those run counter to
TW>the Democrats philosophy of having government be the nanny of the
TW>masses.

TW>The Democrats simply cannot get enough of your property and they
TW>won't hesitate to create new ways to take more of it. Here is a plan,
TW>the 401k plan, that is far more credible than Social Security, and
TW>they want to take money from it, essentially taking money out of the
TW>economy, and give it to government bureaucrats for their failed
TW>inter-generational Ponzi scheme.

TW>This is not the change America needs.

Yep,  What also is not mentioned is that the "rich" (a couple making 
more than $160k per year) already don't get tax breaks for IRA 
contributions and most companies phase out 401Ks for employees making 
over $250k.  So who gets hurt the most with this silly plan ?  The 
middle class and the poor.


Jeff

CMPQwk 1.42-21 9999 
Patriotism is not who can leak the most Secret documents to the NY Times ...

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