|TP = toilet paper|
They already pooled individual's Soc. Sec. accounts, when
I was a boy. At one time everyone had their own account.
And you see how well they managed the money... Soc. Sec.
will be BK within 10-12 yrs.
Now they want to do the same with 401Ks? 401Ks are NOT
even a government program. The ONLY benefit to 401Ks is
that taxes are deferred on the money until you retire.
Does that give the gov't the right to confiscate 401K
accounts? Not only is it nonsense, it's downright SCARY.
I'll probably continue to save for retirement, but I can
understand there is NO INCENTIVE for young people to save
AT ALL. Every time the gov't needs money they look around
to see where there is a large amount in some accounts
and they confiscate it, then mismanage it. Why don't they
nationalize the oil companies? They have a lot of money.