Whereas: The "Retirement Security Reform" policies being proposed by Teresa Ghilarducci would strip 401(k)s, IRAs, and 403(b)s of their tax-advantaged status; and
Whereas: Employer incentives to participate in 401(k)s would be removed in exchange for government-controlled "Guaranteed Retirement Accounts" as a General Accounting Office report commissioned by leftists in Congress suggests;
and
Whereas: A whopping 50% of a 401(k) holder's assets would be HIJACKED upon their death as part of the planned merging of private accounts into a larger, Congressionally-managed pool of Guaranteed Retirement Accounts; and
Whereas: Private investment monies would be SECRETLY HERDED into "government-approved investments" through perverse tax incentives which reduce the attractiveness of private-sector investments in favor of supporting government debt sales,
such as proposed Treasury regulations (CFR, Part 1, RIN 1545-BJ04); and
Whereas: Private citizens would be MANDATED to participate in forced government-approved and managed
"savings" programs in the name of "retirement security";
Therefore: I hereby urge you to keep Obama's hands off the private life savings of individuals,
including any and all of the above schemes to divert private savings into
government bonds which fund out-of-control government spending.
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