If this looked like it had a chance to pass I can only imagine the run on 401K accounts, withdrawals would cripple the markets.

House Democrats Contemplate Abolishing 401(k) Tax Breaks | workforce.com

Under 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 percent 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 percent a year, adjusted for inflation. . .


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


Wow. . .bigger. . .Bigger. . .BIGGER government control. It's really getting scary. Just how much of our lives are going to be under the thumb of the Minister of You Name It??!!

I think the government is a big fat middle man . . .and they want to be the middle man in everything now. It scares me even more that somebody will have some kind of justification for this kind of thing. "Big Daddy government will be able to do it better so just hand over your money and we'll take care of you. . .oh yeah. . .until we can't anymore. . .we'll say we're broke and you're screwed. "

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

This is spaghetti on the wall, republican panic speak, for -- I'm trying to scare you. Don't vote for a Democrat. I am spreading this crazy crap about those evil Democrats ruining a wildly popular savings program to scare you. I have searched high and low and found one economics professor testifying before a committee and grabbed a few quotes for prove my point. Oh, be very scared ..... is it working...are you terrified?

If you actually read the article, one staffer says "intriguing." LOL LOL LOL A few Democrats on a committee listen to a professor's opinion and all the sudden the sky is potentially falling? Funny

Well. . .this is straight from Senator McDermott's site:

http://www.house.gov/mcdermott/Ameri...curity_Act.pdf

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm