tag:blogger.com,1999:blog-3758330678390419129.post3678368990108189877..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: WARNING Protect Your Savings: Stay Away from Obama's New MyRA ProgramRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-3758330678390419129.post-58259095129677625892014-02-10T23:58:32.865-05:002014-02-10T23:58:32.865-05:00Instead of this rather pathetic attempt to get peo...Instead of this rather pathetic attempt to get people to save in myRA, how about the Government and Treasury ease the requirements around 401k Plans like the annual 5500, 401k audit and non discrimination testing. Easing these burdens would lead to having more companies establishing 401k Plans where more employees can save.<br />- Tom from <a href="http://www.lifeant.com/blog/" rel="nofollow">Anonymoushttps://www.blogger.com/profile/08147649068014796856noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-39261111705559356702014-02-01T08:41:59.989-05:002014-02-01T08:41:59.989-05:00MyRA - My rectal assault... MyRA - My rectal assault... Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-53989703763161735272014-01-31T15:28:02.208-05:002014-01-31T15:28:02.208-05:00Perhaps this explains one of the motives:
"A...Perhaps this explains one of the motives:<br /><br />"A private-sector money management firm is going to be chosen by the Treasury to run the program."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75179234111781992752014-01-31T09:25:58.081-05:002014-01-31T09:25:58.081-05:00At a 15K account limit, the aggregate amounts will...At a 15K account limit, the aggregate amounts will be too small for the Treasury to even think about. No, this is a scheme designed to get those muppets to save 15K and then roll those sums over into Wall Street. As soon as your account nears 15K, you will get slick ads from some big Wall Street firm with a nice sounding deal.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75853221803373650282014-01-30T22:36:59.179-05:002014-01-30T22:36:59.179-05:00No one has mentioned that you can accomplish the s...No one has mentioned that you can accomplish the same result as MyIRA now by opening an account with the Treasury thru TreasuryDirect.gov and setting up an electronic transfer from your employer's' payroll system to the Treasury to buy US Savings Bonds. The details are right here on the Treasury's website: https://www.treasurydirect.gov/indiv/products/prod_tdpayrollinfo.htm <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91726090281412322332014-01-30T19:13:40.974-05:002014-01-30T19:13:40.974-05:00They know that some of us know that they want to t...They know that some of us know that they want to take our IRA so they hope that non-informed buy into this money grabbing scheme. NY Cynichttps://www.blogger.com/profile/05131625126863049626noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-71374963988395846092014-01-30T17:02:55.899-05:002014-01-30T17:02:55.899-05:00In the spirit of fair play would someone advise th...In the spirit of fair play would someone advise the NY Times that "even Mises" chose to deposit his cash reserves in the Austrian postal savings system instead of the commercial banks (which he believed to be all bankrupt).<br /><br />Indeed, I wonder why Obama did not choose the USPS to service this thing, MyRA. Give those guys something to do and they could use the funds to subsidizeJule Herberthttps://www.blogger.com/profile/04010275785788333723noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-14268236077258838102014-01-30T16:28:30.399-05:002014-01-30T16:28:30.399-05:00It all does smack of the Japan savings scam their ...It all does smack of the Japan savings scam their government forces on its people.<br /><br />While it's not compulsory, all that gov't has to do is the Cass Sunstein "nudge" to give people the illusion of choice by writing the tax code in a manner that favors Comrade Obama's new economic plan.<br /><br />Kind of like they already do with 401K's really...<br /><br />The Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-38774702551228546752014-01-30T15:48:07.374-05:002014-01-30T15:48:07.374-05:00I don't think they will directly takeover IRAs...I don't think they will directly takeover IRAs / 401ks, but instead steal the money via means-testing of Social Security and Medicare. In other words, your expected SS check or Medicare premium is based on how much you have in retirement and other assets. If you're sitting on a $600k IRA, expect drastic reductions in your SS payout. In fact, SS is already somewhat means-tested in this ChadThrustingtonhttps://www.blogger.com/profile/13983384954841763039noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-88316353169313062612014-01-30T15:40:00.077-05:002014-01-30T15:40:00.077-05:00With the Fed cutting back on sucking up all the lo...With the Fed cutting back on sucking up all the low yielding treasuries, what's a President to do? I say let the dummies that want something for nothing hand their hard earned money over to the government so that the rest of us can have a bit longer to prepare ourselves for the inevitable end game. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68840853955979112332014-01-30T15:39:34.113-05:002014-01-30T15:39:34.113-05:00hahaha, thanks for the warning, but no one on this...hahaha, thanks for the warning, but no one on this blog (except jerry) will be putting their money in a "myRA."<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-8962463749066577252014-01-30T15:33:40.392-05:002014-01-30T15:33:40.392-05:00They won't have to make it compulsory
In our ...They won't have to make it compulsory<br /><br />In our alternative world of EPJ, LRC, and the like, there has for several years been a discussion of government takeover of IRAs / 401(k)s. I have long felt that individuals would flock to this - because the government will provide a "make whole" provision.<br /><br />Coincident with the next market crash, the government will offer bionic mosquitohttp://bionicmosquito.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-33843194598715390402014-01-30T15:11:35.174-05:002014-01-30T15:11:35.174-05:00Whats the bet it will become compulsory (just like...Whats the bet it will become compulsory (just like in the 5th freeest nation in the world dotcha know)Heathhttps://www.blogger.com/profile/15417060063126394938noreply@blogger.com