401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America
LISTEN NOW: Teresa Ghilarducci:
'The Most Dangerous Woman in America'
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Teresa Ghilarducci is the director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research and the author of the book When I'm Sixty-Four: The Plot Against Pensions and the Plan to Save Them. She also wants to see 401(k) and Individual Retirement Accounts replaced by "government retirement accounts." (Yes, I am having a bit of fun with the "most dangerous" tag.) In an interview with my guy, Kirby Wilbur of KVI 570 AM in Seattle, Ghilarducci says one of her goals is—you guessed it—to "spread the wealth." Go about 12 minutes into the interview to hear it for yourself, gang.
Tags: retirement | 401(k) | government intervention
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Reader Comments
3% over WHOSE CPI???
If anyone out there believes that the "cpi" is a measure of anything worthwhile, I have a bridge in Brooklyn to sell you.
Are we talking about the CPI in total? or after housing, gas and other more variable items have been removed?
Fantastic! Why wait? Issue 3% over CPI Bonds NOW!
Why wait to confiscate? Hey, if the government wants to issue bonds with a guarantee of 3% over CPI count me in!! That would be a heck of a lot better than current I-Bonds!
I'd probable sell all of my current bonds (34% of my IRA) and grab it.
Regardless, if the government tried, or even seriously talked about, such a take-over it would TOTALY trash the financial and equity markets. Can you imagine the effect of pulling that much money out of the equity markets? Our economy would come to such a screeching halt that it would not likely recover during our lifetime. By then China would rule the world markets.
Further, law suits would delay it and give Congress time to overturn such a move. Let's face it - even Democtatics get BIG money from folks with large equity portfolios and 401K's.
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