Democrats plan to tap your private retirement plan to fund Barack Obama's many promises to expand the power and size of the federal government. Your pre-tax annual contribution to a 401(k) will be taxed under a plan considered by House Education and Labor Committee Chairman George Miller, D-Calif., and Rep. Jim McDermott, D-Wash., chairman of the House Ways and Means Subcommittee on Income Security and Family Support. Worse yet, instead of the familiar, tax-deferred plan which typically invests in diversified mutual funds, in turn investing in private companies, these Democrat leaders want to create a new system of mandatory worker-retirement accounts which would invest only in government debt (bonds) and yield 3 percent per year. More... Magazine Lane - Discount Cigarettes & Tobacco - Nutty News Marketplace - PetsMart
