Latest posts by Zack Christenson (see all)
- Google Grants Special Access to Obama Campaign, Denies it to Republicans - June 19, 2011
- Google Makes Moves to Monopolize Travel Search - February 16, 2011
- Obama Administration Wrong on Energy Policy - February 15, 2011
As crazy as it sounds, it could be a possibility. Last month, Senator Harkin and Senator Sanders held hearings to explore replacing 401(k) accounts with Government Retirement Accounts (GRAs). Mark Hemingway has the full story at the Washington Examiner:
The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their money to the government instead.
GRAs would “eliminate the favorable tax treatment currently afforded to 401(k) plans, and instead use those dollars to fund government-invested GRAs into which all employees would be required to contribute a portion of their salary,” according to a letter signed by House Minority Leader John Boehner and 12 other Republican representatives.