By far the most alarming part of Obamas speech last night: TAXPAYER SUBSIDIZED MyRAs FOR THE MIDDLE CLASS. This is just another govt welfare program to begin hiding the COLLAPSE OF SOCIAL SECURITY. Social security has, until last year, been a MASSIVE WELFARE PROGRAM that redistributed wealth from the young to the old. Regardless of whether you paid into it, the average retiree collects FOUR TIMES what they put in. NOW IT PAYS NEGATIVE RETURNS TO TAXPAYERS. This is the SOLE REASON for SS collapse; not the myth of THE GOVT SPENT THE MONEY. They didnt. AMERICAS RETIREES DID. This new program will start voluntary & THEN BECOME MANDATORY JUST LIKE SOCIAL SECURITY, because it will fail. The old social security program will be fully means tested as taxes continue to climb to support the almost HALF of the country that will NEVER contribute to society, & the few working will be FORCED to create yet ANOTHER retirement savings account. Only this time, apparently, it will be the kind tied to an individual. MARK MY WORDS: THE NEXT TAXPAYER FUNDED WELFARE BOONDOGGLE IN INFANCY. finance.yahoo/news/obama-launch-government-backed-retirement-110000794.html
Posted on: Wed, 29 Jan 2014 14:55:06 +0000
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