Johnm
2008-04-04 09:41:18
I completely agree with fatcat. The politicians will solve this problem by imposing confiscatory tax rates on 401k withdrawals or, even worse, imposing some kind of annual surcharge on 401k balances. The amount of money there is well over $1 trillion and growing. Do you think that the politicians will look at that pile of money and not try to figure out a way to grab a piece of it? There is no backbone in DC or state capitals to attack the true problems, which is the growth of unfunded entitlement spending. Given the choice, they will take the shortest route. They will tax the “millionaires” who have saved for 40 years, and they will make it sound like we’re the greedy ones for not paying our fair share.
