Life, Liberty, and the Pursuit of Happiness
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If there was ever a reason to vote for McCain, this little article did it for me:
I don't know if you have heard, but the Democratic Congress is going to look at reducing if not eliminating the 401k plan as we know it. Great.
Vote for McCain, we don't need a socialist party running our country in the ground without any checks or balances.
That is only ONE proposal being looked at, and by the way more than a few people would consider the 401K program an "entitlement". How ironic, in reference to your last paragraph, which party has run the government the past 8 years and by virtue of its bailout to Wall Street and Banking Institutions, could be called Socialists without any checks and balances, indeed.
Calling a 401(k) an entitlement is a hell of a stretch.
Furthermore, many or most Republicans that I know (and most in the House) opposed the bailout.
And lastly, people talk about "the last 8 years" as if they were all bad. It's only since the Dems took over Congress that things got bad. I'm not saying this was all caused by the Dems, but I am saying that the vast majority of the Bush presidency was economically excellent.
A 401k plan is by no means an entitlement program as it is voluntary. Any individual can opt-out. The government provides incentives to participants in these plans to encourage the funding of future retirement needs. It is literally an admission by the government that Social Security will never provide enough for you in retirement, especially with a larger part of the population leaving the workforce. If you take away the benefit of those who would normally not be able to invest in the market, you are taking away a person’s financial freedom.