Tyranny - you WILL save for retirement and yet again, continue the incremental transformation of employers into being part of Government - Granite Grok

Tyranny – you WILL save for retirement and yet again, continue the incremental transformation of employers into being part of Government

Once again, a mandate that will cost you whether you like it or not, but Obama has pre-determined “how much you need”.  “From Obama’s 2014 indentured servitude and Budget (here, page 24, emphasis mine) we see the “benevolent hand” of Tyranny Our Betters Our Rulers our Government  with the socialist glove forcing paternalistic nudging yet another behavior simply because they do not approve of current sovereign citizen behavior:

Encourage Retirement Savings with Automatic Individual Retirement Accounts and Support for Small Employers Who Offer Retirement Plans.

About half of American workers have no workplace retirement plan. Yet fewer than 1 out of 10 workers who are eligible to make tax-favored contributions to an Individual Retirement Account (IRA) actually do so, while nearly 9 out of 10 workers automatically enrolled in a 401(k) plan continue to make contributions. The Budget would automatically enroll workers without employer-based retirement plans in IRAs through payroll deposit contributions at their workplace. The contributions would be voluntary—employees would be free to opt out—and matched by the Saver’s Tax Credit for eligible families. Small employers would be eligible for tax credits to defray the administrative costs of setting up these savings plans. The Budget would also double the existing tax credit for small employers that start up new qualifying employer plans.

So, not only must the working contribute to Social Security, we all will be forced contribute even more to our own retirement.

Now, you may be thinking “so, isn’t saving for retirement a decent thing to do”?  Sure, but wasn’t that the purpose of S.S.?  Which is getting ready to go broke because the government folks that mandated employers and employees pay also allowed government folks to take the real bucks from that Trust Fund and replace it with Government I.O.U.s (and WHO do you think is really going to fund those IOUs – paying twice for the single payout?).  And how much “nudging” will be done to make sure that you participate – the pressure, I bet, will be far more than a lot of companies employ in getting their employees to participate in United Way drives.

So, you will be dinged a second time by Government for your own retirement – and who do you think is going to pick the IRAs (and two guesses about whether a majority of those accounts will be stuffed with more Government bonds or T-Bills)? And look at who sets the rules – and who gets to pay!  Since there is no employer “match” (funds they contribute to your IRA), Obama has a simple fix for that!  For the 53% of the American taxpayers that actually pay Federal income taxes, WE will be funding the 47% of folks that don’t pay Federal income tax – see, simple!  And yet again, we see Obama incrementally forcing employers to carry out Government mandates.  When have we seen this before (hint: this leader didn’t get “The Boot” but a noose)?

But wait – Obama wants you to save – but has also decided how much you need “to fund reasonable levels of retirement” this 1%er has already decided not just that you will contribute, but only what He will allow (and not a dime more, not matter what you think you need or can do) – and this is a direct result of how much his hated Presidential rival, Mitt Romney, had in his accounts.  Once again, Obama does not stand for ALL Americans but only for those that he approves of:

Prohibit Individuals from Accumulating Over $3 Million in Tax-Preferred Retirement Accounts.

Individual Retirement Accounts and other tax-preferred savings vehicles are intended to help middle class families save for retirement. But under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving. The Budget would limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million for someone retiring in 2013. This proposal would raise $9 billion over 10 years.

And of course, that last line tells the tale – the Punitive Kicker. He hates the rich and hates the capitalist ways that allowed them to succeed (especially if they are not one of his Crony Capitalism buds).  Remember, Obama has admitted that he is a Progressive and we now know that Progressivism is nothing more than warmed over Marxism.  And one of the attributes of Marxism is not one of shared wealth but of shared misery.

Obama certainly shows that he does not believe in Individual Success nor of Individual Freedom.

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