There go those wonderful Dems, looking out for us regular folks.

Well, it seems that in order to protect “working families” and the like, the Democrats have decided that they must now start taxing 401ks. According to Workforce.com, House Democrats Contemplate Abolishing 401(k) Tax Breaks, some House Democrats are looking to pass a bill to remove the tax breaks of your 401k plan. Is this how the Democrats help us? No, this is more spreading of the wealth. And what is more scary, they would like it to be mandatory:

“A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal.

“Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration.

” ‘I want to stop the federal subsidy of 401(k)s,’ Ghilarducci said in an interview. ‘401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.’ “

Newsflash Mrs. Ghilarducci – a subsidy is when YOU actually put money IN to a program. When you take it OUT, as you plan to do, its called ME subsidizing YOU. And haven’t I seen the Social Security Administration ALREADY taking my money, money that I will probably only see a fraction of return on? This is sickening, and it has to be stopped. Call your representative and tell them to vote this down if it ever comes to one.