Comments on: Ask the taxgirl: “Windfall tax” on Retirement

By: Linda

Linda — Thu, 12 Nov 2009 23:02:01 +0000

Chris, Last year, I e-mailed Profesor Ghilarducci, when I read what it is that she proposed. She even made statements to congress on this very subject and what her proposal was, which was for the government to take control of all 601 ks etc.

She and I e-mailed back and forth a few times on this subject, From her blackberry, she tried to convince me that we would be better off if the government controls our retirement savings. I told her she is wrong, that the government screwed up Social Security by using the supposed next egg to fund everything under the sun, and put her in the situation we are now experiencing with SS. I then said, I would not want them to take what we have been saving and trying to build for year so they could sqaunder that too.

Ther’s more to this, but there’s only so much room here.
Man we are in sooooooooo much trouble.

By: rhino

rhino — Tue, 06 Oct 2009 16:29:48 +0000

It was stated on the News a couple weeks ago that SNOPES.COM is a Mom and Pop website and it sometimes gets things wrong. I have personally seen it happen twice. Don’t rely solely on this website, but use it along with other websites before drawing a conclusion.

By: navyvet48

navyvet48 — Sat, 17 Jan 2009 23:11:27 +0000

I wrote a piece on 401ks discussing the 401k garbage coming from the Dems and the woman from that Social Justice outlet> I think it is quite possible that the Dems are looking for new ways to tax people while talking out of the other side of their mouths saying we will cut taxes for the middle class! We must keep our eye on Congress and don’t let them get away discussions like this or even thinking about suggesting any bill that would do this. Knowledge is strength. Watch out though! SCIP is up for a vote again. The language of the bill will give Medicaid to illegal immigranst!

By: Chris

Chris — Tue, 16 Dec 2008 15:00:27 +0000

No one has disputed her statement. Just because she hasn’t proposed a bill in Congress yet, doesn’t mean it isn’t on her agenda to do so. A good example is Democrat Jim McDermott from Washington proposing that the Treasury can no longer support giving tax breaks to 401K contributions; he hasn’t proposed changing the tax law through the Chief Tax Evader Charlie Rengal, but it could be coming.

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971

Here is an excerpt from the meeting related to retirement accounts: A plan by Teresa Ghilarducci, professor of economic-policy analysis at The New School for Social Research in New York, contains elements that are being considered. She testified last week before Mr. Miller’s Education and Labor Committee on her proposal. The article goes on: Under Ms. Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5% of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3% a year, adjusted for inflation.

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

“I want to stop the federal subsidy of 401(k)s,” Ms. Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

Under the current 401(k) system, investors are charged relatively high retail fees, Ms. Ghilarducci said.

“I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ms. Ghilarducci said.

This is Socialism/Marxism at its core. These elected idiots want to move your 401k money into the defunct social security trust fund and guarantee you a 3% return. Good luck meeting your retirement goals.

By: More Phony Tax Emails… It Must Be Election Season!

More Phony Tax Emails… It Must Be Election Season! — Tue, 02 Sep 2008 14:14:27 +0000

[...] the Pelosi email, this email is not based on [...]

By: Melody

Melody — Fri, 11 Jul 2008 15:08:56 +0000

I’ve received many of these e-mails in the past. When something hits my bull@&!# alarm as hard as this one did, I always check it out on snopes.com. Then I send an e-mail back to the person who sent it to me.

I’ve cut down on a lot of these by doing this (at least people aren’t sending them to me, anyway).

By: Chris

Chris — Wed, 09 Jul 2008 16:28:48 +0000

Most of the e-mails of this sort are untrue if you check them out, at least in my experience.

By: John Coffey

John Coffey — Wed, 09 Jul 2008 15:00:50 +0000

What retirement? I just got my 401 K statements for mid year and they’re all down. Bumming!