Obama introduced MYRA - a new IRA for those who don't have one.
I believe I will just call it "Obamaretire" (two fold meaning)
OH... Wait... where have I heard that before.....
hmmm..... let me think back...... it is coming to me.......
OH Right..... Healthcare for All in
equality!!!
Obama said "Everyone has a right to Health Care and Insurance". Then the insurance was Nationalized and we know how well that has gone.
So what is MSM doing? They are writing about Obama's introduced MYRA.
Business Insider "Can't wait to hear more about it."
Forbes wrote one article about it, saying that IRA's are a mess and are all over the place. They all need to be made uniform, one standard.
The problem isn’t that Americans don’t have enough ways to save for retirement — they have too many. Look at the alphabet soup of plans from 401(k)s, 403(b)s, 457s to Roth IRAs. Why not consolidate them and make the tax breaks uniform through credits? Make a universal plan with low fees accessible to everyone — regardless of where they work. It’s not only a way to address inequality, it will improve retirement security for everyone.
Will people be able to put two and two together?
Will people really want the U.S. government to control their IRA?
Do people really feel the government would be good stewards of their retirement money?
Do people have their eyes open and see how the government handles everything and how well they have handled Obamacare?
Imagine the millions of people getting letters from their IRA 401K financial advisers saying that the government was now making them all uniform and they are all going into bonds.
The rhetoric is exactly the type that was being thrown around before the passing of Obamacare. "Equality health care for all." Now "Equality of retirement plans for all"
Slate says Obama is going to use an 'Executive Order' to pass MYRA - details will be released today
One of the most intriguing ideas in the State of the Union was Obama's promise to use executive action to create a new middle-class savings vehicle that he calls a "myRA" (a pun, get it). The speech didn't really make it clear what this looks like exactly, and I have to say the White House's policy briefing sheet didn't either
Here is the biggest question..... DOES EVERYONE SEE THE WRITING ON THE WALL? DOES EVERYONE SEE THAT OBAMA IS ABOUT TO GET THE RETIREMENT ACCOUNTS EQUAL AND GOVERNMENT CONTROLLED?
Don't cha love the MYRA name? Since Obama has named it.... and it includes MY - does that mean he feels everyone's IRA is his to be done at his will?
I believe in our FREEDOM and Our RIGHTS to handle our own money! Please Protect yourself from this government plan to control your money through your retirement plan!
I will say this once again, Perpetual Assets allows you FREEDOM of your money. Just find out what it is about and have FULL CONTROL of your own money!
Yes I am Promoting them because I believe in it, Very Strongly! Take action to control your own money before the government takes their action!
Edit to Add: Jim Willie Spoke to me this morning about MyRA - said it will include Toxic Fannie Mae Bonds!
Wake up people. The liar-in-chief has absolutely no constitional authority to do this.
ReplyDeleteAside from the fact that most of the modern giant federal government is clearly unconstitutional (FDR intimidate the supreme court into okaying social security and some other new deal programs which were clearly unconstitutional and set horrible precedents thereby gutting the 10th amendment. However the constitution is the governing document of this country not the decisions of appointed justices.
However this goes way beyond the last 8 decades of constitutional abuse.
He said he is creating a government backed retirement account by executive order.
He has no authority to do so to obligate the federal government to back (guarantee) the accounts.
Further creating new government programs is not part of his executive authority. Executive authority is to oversee and administer the programs created by law (that he signs after congress passes).
On top of that. This is just stupid. There is no need for it.
Once again ... a scumbag posing as a do-gooder claiming to act for the people as did mass murderers & heads of state Stalin & Mao.
Back on the farm, we called this. "Letting the Fox in the Henhouse."
ReplyDeleteNot a good idea. People have to be taught how to save first, those who are not in the habit of saving will only use this no-fee account as a temporary parking place and revolving door for the money and then withdraw it at the end of the week. Then, it is only targeted toward the employed. What happens to those that are unemployed but do want to build up a little nest egg no matter how small it is? Additionally, if this is going to be a retirement account, different laws apply to retirement accounts by the IRS, so.. a person might be able to withdraw the money tax-free at any time but without clear no-penalties instructions from the IRS, people can fall into a bigger financial trap than not having a savings account.
ReplyDeleteFurthermore, " People will earn interest at the same variable interest rate as the federal employees’ Thrift Savings Plan (TSP) Government Securities Investment Fund."
Sorry to say but this is no bargain. The TSP G Fund is offering very low returns. Additionally, this fund can be used by the Treasurer, repaid, true, once the budget is approved, "if."
- Tom from LifeAnt.com