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Democrats actually have legislation drawn up that will force 401K holders to invest a certain percentage in government bonds, same thing as seizing that percentage of value from those 401ks. It will go nowhere in this House, but if Pelosi were to come back as speaker it will no doubt be on the agenda.
Another day...
Another unsourced Vettefalsehood.
George Miller (D) California held hearings on 401ks in 2008. He was talking about eliminating the tax subsidy on 401ks, he was in love with the idea for a new revenue source. He called Professor Teresa Ghilarducci to testify about her plan for 401ks:
“What we want to do, we want to take your 401(k) at its August level, before the crash. We’ll give you that equivalent and put it in your Social Security account, essentially, and we’re going to invest that money that we take from your retirement account, your 401(k), at its August level. We’re going to buy government bonds with it, which will guarantee you 3% — and then we will require that you put 5% of your pay into your 401(k) although it’s not yours anymore,”
The idea is still the basis of many a wet dream on the Democrat side of the aisle and I'm sure that Miller and his leftists colleagues will no doubt breathe new life into the idea if they gain another majority in the House.
George Miller (D) California held hearings on 401ks in 2008. He was talking about eliminating the tax subsidy on 401ks, he was in love with the idea for a new revenue source. He called Professor Teresa Ghilarducci to testify about her plan for 401ks:
“What we want to do, we want to take your 401(k) at its August level, before the crash. We’ll give you that equivalent and put it in your Social Security account, essentially, and we’re going to invest that money that we take from your retirement account, your 401(k), at its August level. We’re going to buy government bonds with it, which will guarantee you 3% — and then we will require that you put 5% of your pay into your 401(k) although it’s not yours anymore,”
The idea is still the basis of many a wet dream on the Democrat side of the aisle and I'm sure that Miller and his leftists colleagues will no doubt breathe new life into the idea if they gain another majority in the House.
Debunking the "Democrats want to seize your 401(k)" lies
Once again, the Vettebigot brings dishonor on himself, his family, and the United States Marine Corps by promoting this falsehood.
FactCheck is a liberal propaganda repair site. RubDownSow doesn't have enough imagination to understand his own kind.
FactCheck is a liberal propaganda repair site. RubDownSow doesn't have enough imagination to understand his own kind.
George Miller (D) California held hearings on 401ks in 2008. He was talking about eliminating the tax subsidy on 401ks, he was in love with the idea for a new revenue source. He called Professor Teresa Ghilarducci to testify about her plan for 401ks:
“What we want to do, we want to take your 401(k) at its August level, before the crash. We’ll give you that equivalent and put it in your Social Security account, essentially, and we’re going to invest that money that we take from your retirement account, your 401(k), at its August level. We’re going to buy government bonds with it, which will guarantee you 3% — and then we will require that you put 5% of your pay into your 401(k) although it’s not yours anymore,”
The idea is still the basis of many a wet dream on the Democrat side of the aisle and I'm sure that Miller and his leftists colleagues will no doubt breathe new life into the idea if they gain another majority in the House.
FactCheck is a liberal propaganda repair site. RubDownSow doesn't have enough imagination to understand his own kind.
FactCheck.org which is a product of conservative Lee Annenberg? Well that's a reliable source to argue against something liberal but gets immediately discredited whenever a righty is busted. Then re-credited as needed.