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.


LINK

socialism here we come.

Good grief, just leave my money alone already.

MICHELLE OBAMA: "The truth is most Americans don't want much," Obama said. "Folks don't want the whole pie. Most Americans feel blessed to thrive a little bit — but that's out of reach for them."

OBAMA TO PLUMBER: My plan will "spread the wealth" around.

Perhaps it's time for Atlas to Shrug.

Spread the wealth rings true with his constituents who don't want to work for things...they want them handed to them.

Michele Obama wants to take the pie out of the kitchen of those that earned it and distribute it to those that sit on their lazy butts.

Socialism...here we come.

So, when that plumber starts getting hammered on taxes...do you think HE is going to absorb most of it. No, he will charge his customers more and most likely lay off some people....thereby making more people dependant on Michele stealing our pie.

WAKE UP.

WTH is she smoking? Too many Americans want what others have and they don't. The only thing I want is what I earned. If the 401k tax breaks are eliminated I'll be paying more taxes but what's new. LOL

In basic terms, black_raven, it's been called "coveting" for a long time and was such a problem that it was "mentioned" in the 10 Commandments, published just a few years ago.

Unfortunately I don’t know who to credit and apologize to the author.

. . . there was a little red hen who scratched about the barnyard until she uncovered quite a few grains of wheat. She called all of her neighbors together and said, "If we plant this wheat, we shall have bread to eat. Who will help me plant it?"

"Not I," said the cow.
"Not I," said the duck.
"Not I," said the pig.
"Not I," said the goose.

"Then I will do it by myself," said the little red hen. And so she did; The wheat grew very tall and ripened into golden grain. "Who will help me reap my wheat?" asked the little red hen.
"Not I," said the duck.

"Out of my classification," said the pig.
"I'd lose my seniority," said the cow.
"I'd lose my unemployment compensation," said the goose.

"Then I will do it by myself," said the little red hen, and so she did. At last it came time to bake the bread. "Who will help me bake the bread?" asked the little red hen.

"That would be overtime for me," said the cow.
"I'd lose my welfare benefits," said the duck.
"I'm a dropout and never learned how," said the pig.
"If I'm to be the only helper, that's discrimination," said the goose.

"Then I will do it by myself," said the little red hen.

She baked five loaves and held them up for all of her neighbors to see. They
wanted some and, in fact, demanded a share. But the little red hen said, "No,
I shall eat all five loaves."

"Excess profits!" cried the cow.
"Capitalist leech!" screamed the duck.
"I demand equal rights!" yelled the goose.
The pig just grunted in disdain.

And they all painted "Unfair!" picket signs and marched around and around
the little red hen, shouting obscenities.

When the government agent came, he said to the little red hen, "You must not be so greedy."

"But I earned the bread," said the little red hen.

"Exactly," said the agent. "That is what makes our free enterprise system so wonderful. Anyone in the barnyard can earn as much as he wants. But under our modern government regulations, the productive workers must divide the fruits of their labor with those who are lazy and idle."

And they all lived happily ever after, including the little red hen, who smiled and clucked, "I am grateful, for now I truly understand." But her neighbors became quite disappointed in her, for she never again baked any more bread.

Thanks for sharing that. I'll have to read that to my children tonight for a bedtime story.

Do Obama supporters not realise that this IS raising taxes? That when Omaba says "I will not raise taxes if you make under $250K", that abolishing tax breaks for 401K's raises everyone's taxes that has as one regardless of their income??


Hey.....here's an idea......instead of doing away with tax breaks and raising taxes on hard working Americans, why doesn't the government do away with Welfare programs? Or at least a major overhaul? If you're not disabled, elderly or truly indigent then you shouldn't be on welfare. GET A JOB

Oh that's right, if they did away with welfare then half of their supporters wouldn't vote for them.

very well said.

I hear ya!

Every 4+ years the OW in my sitch would get pregnant by unsuspecting sperm donors to further her "Wealthfare". It was her strategy for income, a way of life. Welfare required her to look for a job as soon as her youngest child turned 5, pre-school age.

It worked quite well for her, 4 children all different fathers. 16+ years of income and not a days work. Unless you consider searching for a sperm donor in bars and having sex a job.

What an abuse of our taxes and the system. Unfortunately, I suspect this type thing is somewhat prevalent AND generational.

Her eldest daughter, who is now nearing her 20's, so far has had 2 children (diff fathers) and also relies on Wealthfare for her livelihood.

When the federal government purchases minority stakes in financial institutions that isn't redistributing wealth? These same institutions were major players in the derivatives fiasco and now b/c of their own folly they find themselves undercapitalized. Redistributing wealth via nationalization and direct assistance to failing financial institutions all falls under the rubric of corporate welfare. If you want to ascribe blame alleging we’re going socialist-- the culprits are clear.

Yes, you're right! The culprits are clear.....the government, both parties.

Nowhere did I say that the problem is Obama. I only referenced his words that he has used over and over again.

THEY ALL ARE CULPRITS but I do not want someone in the White house that not only wants 'Government Bail-outs' buts also wants 'Everyone to be Equal', that wants to "Spread the Wealth". WE ARE NOT EQUAL and I DO NOT EXPECT NOR WANT THE GOVERNMENT TO MAKE ME EQUAL with anyone else. I'm so sick of Entitlement programs and people that think that they do not have to work but are entitled to what I, you or anyone else that works hard has. My family is middle class and we have worked VERY hard and continue everyday to work hard for what we have and I am AGAINST the government taking more and more from me for some lazy SOB. Again GET A JOB McDolalds or 7-11 is not beneath you. If you can't pay your bills with 1 job then get another one. Been there, done that.

What makes us ALL different is not our social status and the money that we have, what makes us different is how we get our money, how we spend it and whether we work for it or not.

Welfare programs are no different than the $700B banking bail-out.(which by the way I don't agree with either) The only distinction is we 'Bail-out' lazy, non-working American's everyday and give them more and more so that they do not have to be responsible which in turn raise their children not to be responisble. I am so sick of it....

It is not the government's, i.e. the taxpayers, responiblity to 'bail-out' anyone for their own mistakes or laziness.

Hey....here's another thought.

DON'T BUY A HOUSE THAT YOU CAN'T AFFORD THEN BLAME IT ON THE BANK AND THE GOVERNMENT FOR GIVING YOU THE MORTGAGE. It's not their fault that you want something you KNEW YOU couldn't afford, IT'S YOURS

Take responsibility for your own actions

So JoJo, here's the icing on the cake.

The OW mentioned above, she had implants installed ($5K sperm donor funded). So when she could not longer have children (menopause) which meant her Welfare was cut-off, she pursued suing the silcone implant makers.

She didn't win, BUT did receive a substanial amount of $$ settling out of court on a legal technicallity that the implant maker's attorneys failed to catch.

The idea that people find these unethical, lazy, underhanded low-life means to support themselves instead of simply GETTING A JOB is outrageous to me.

I hear ya Resilient. Until Our government stops the entitlement, people like that will continue to trive on the backs of hard working Americans.

In fact, those people continue to breed more people just like themselves until one day that will be all that's left. Then who will there be to work to pay for their entitlement?

Sickening isn't it....

And the Dem-wits that vote for this crap see nothing wrong with it

It IS!

They are living off our hard earned wage (aka taxes). Taking advantage and freeloading off of folks who value and understand work ethic.

Wait, I even think they are committing one of 7 deadly sins:

SLOTH

See what happens when you take God out of the schools??

How does this follow from the discussion?

AGG

Since apparently you're having trouble keeping up with how things flow in this discussion......

Follow the bouncing ball.....

Someone else referenced the "10 Commandments"....which comes from the Bible.....which has to do with God ......

Do you understand, or do I need to explain further?