Obama Begins Push for New National Retirement System

[okietool]

F*ck Obama!

Nope I'm good, I'll pass.

 

[Lurkerinthewoods]

 

[HMFIC]

I can hear JB saying it now... "Obama gunna take yeeeerrrrrr 401K !!!!!!"

 

[gun001guns]

The government has done such a good job with Social Security System why not give our private retirement to them. LOL!! I personally would love to have the option to "opt out" of the SS System and take what I've paid in and fore go any benefits I would be entitled to when I'm old.

 

[71buickfreak]

You simply can't deny that this is socialism at it's finest/worst depending on which side you are on.

 

[WTJ]

You simply can't deny that this is socialism at it's finest/worst depending on which side you are on.

Now you have done it!

 

[MLRyan]

So under Obamacare, I have to pay for the healthcare of the lazy. Under the Obama retirement plan will I eventually have to pay for the retirement of the lazy too? Because that would piss just about everyone off.

 

[dennishoddy]

Much too simple an answer. Again, most folks seem to forget that Article 1, Section 8 is a list of finite, limited powers granted to the federal government by the states to address issues that affected the confederation as whole. The very fact that the Commerce Clause falls within this set of limited powers illustrates that the federal government does not have authority over many aspects of our daily activities. Commerce at the time of the Constitution's drafting pertained to trade and exchange (simple explanation, historically it goes back to precolonial days were the regulation of commerce was the law merchant, which Parliament had the ability to regulate if it was for the general welfare of the Colonies as well as among the political units of the British Empire) between the colonies. The Founders sought to stimulate America's economy, as as such the federal government could prohibit or discourage importation/exportation of selected commodities/products. Certain issues that were obstacles of commerce between the states also fell under these enumerated limits. And keep in mind, that the last paragraph of Article 1, Section 8 that Congress were permitted "To make all Laws which shall be necessary and proper for the carrying into Execution the foregoing Powers..."; meaning those specific, enumerated powers listed in Article 1, Section 8. The Commerce Clause never granted carte blanche power to regulate every facet of activity within the states. Arguing that it does would be in opposition to the reasonable belief that the states would ever cede powers to the federal government areas that they could address and take care of themselves. Again, the ratifying debates of the separate states shows how each understood the different clauses presented to them within the text of the Constitution. The Federalist repeatedly assured the states that powers granted under Article 1, Section 8 were limited and finite. To believe that the states would cede unlimited power to the federal government would be a contradiction of Article 1, Section 8 as they understood it, a limit on federal power. I've eluded to one thing repeatedly, the federal government has no vested interest in policing itself and limiting itself to adhere to the enumerated powers of the Constitution. Since the New Deal era, it has worked tirelessly to scheme of ways to bypass those enumerated powers and reduce the power of the states and the people.

Is there any way to break that up into sentences and paragraphs? Man, thats hard to follow.

 

[HMFIC]

The government has done such a good job with Social Security System why not give our private retirement to them. LOL!! I personally would love to have the option to "opt out" of the SS System and take what I've paid in and fore go any benefits I would be entitled to when I'm old.

Ya isn't it funny how the idea of letting people opt out of SS has been floated for a while and now they're taking the 180 degree view on it.

I don't think there's much chance of this happening really... too many people have too much money at stake. Then again, stranger things have happened.

 

[okietool]

I wonder how that sits with Fidelity, Vanguard and the other big 401k management firms?
Does any one know the dollar amount in United States citizen 401Ks?
One of the companies I worked for would only match in company stock, then all of a sudden they would put their match in any of the funds we were elidgible for. It crossed my mind that employees were starting to have too much stock.