Tuesday, July 8, 2008

Idiocy, or Ignorance Ain't Bliss

Here's the latest idiot proposal to the American public:

Doing away with the 401(k) plan.

You read that correctly. The only truly portable, pay-your-taxes-later plan the working Joe has in place to save for retirement with the help of his employer and the comfort of ten to twenty diverse funds to choose from so he doesn't have to think about it too much and get a headache. That 401(k).

Here's the idiot suggestion for an alternative-- a government-mandated pooled fund similar to Social Security. The proposal is to remove the employer from any involvement and put the responsibility squarely in government hands.

Right.

Like the government has been really savvy on the way it's handled Social Security funds to date that I'm putting the rest of my retirement money in their hands. (Step right up, folks. See the two-headed dog! Satisfaction guaranteed! Only one thin dollar!)

The grumble has been that 401(k)s are nothing more than a tax dodge for the wealthy. What?! Only the wealthy can save money?! I find that assumption so ridiculous I'd laugh myself sick if it didn't infuriate me so much.

It's a kind of reverse discrimination. An "if I can't save money and don't have a 401(k) then neither should you" type of attitude.

Sour grapes, anyone?

1 comment:

The Xcribbler said...

I'm totally with you on this. We've done without in order to get money into the 401(k)--somehow I just knew they'd change the rules, just for us. If ever we do something to get ahead, the govt has a way to take it from our hands. Nanny government? Evil Nanny!