Democrats to kill 401K tax break
McCain and the RNC should run with this tomorrow.
More government intervention….when is it going to stop!!!! So the government is going to put $600 into this government run account and require you to put 5% of your salary into this account, run by the same people who have bankrupted Social Security. Unbelievable.
So now the government, if Dear Leader is elected, will dictate how much you make after radical income redistribution and then dictate how much (or how little) you have to save.
Once again, an attack on the free market. An attack on small business, and quite frankly a reckless attack on the middle class. Who do you think takes advantage of this program the most? In many cases, it may be the only savings vehicle people have. I know when my wife finished law school and we were just getting started, after buying a fixer-upper and paying back law school loans, there was very little money left so contributing to your company’s 401K, especially to get the company match was a really big deal. It gave you a head start to take advantage of compounding interest later on.
McCain and the RNC should really make a this an issue over the next 18 days since it would affect millions of working class people in middle America. People would understand this immediately. It crosses all demographic boundaries. Frame it for what it is, another example of vast and needless government intrusion into individual lives and another money grab by big government.