401k.gov

So, Obama now wants the Federal Government to start giving money to low income and middle class worker's 401ks http://money.cnn.com/2008/06/16/news/economy/retirement_savings/index.htm?cnn=yes. Sounds wonderful, right? The Government should help out the people who cannot afford this easily on their own. GOOOO OBAMA! But wait...where does Congress get all this fun play money to put into 401ks? From YOU! This plan of giving 500 hundred dollars to people making under 75k would cost the government nearly 20 billion dollars a year. I don't know about you, but Obama is finding a lot of ways to spend more federal dollars, more of your tax dollars...when we already had a HUGE deficit and he says he will balance the budget. How can this happen? HUGE HUGE HUGE tax increase!!

In case you are keeping score, Obama wants to have a excessive profits tax on Oil Companies. Of course, their profit margins are not huge at all, they just have a lot of revenue and a lot of costs, but Obama and his tax police will tax them more anyways. Then, Obama wants to federalize health care. We all know how smoothly things go once federalized (see TSA). Now, Obama wants to take more money out of your paycheck and redistribute it to the less wealthy. Some of you may be in the category that would get this 500 FREE dollars...but it comes at a price. Taxes will go up, meaning it's not truly 500 dollars you are getting for FREE. You are being forced to pay for it. Wouldn't you rather the federal government, who has a long history of mismanaging money, no matter what party controls Congress or the White House, give back more of those dollars to state and local government....oh and to you? Do you really need Uncle Sam stealing money from other people (including you) to redistribute the wealth. It sounds great until you are the person Sammy boy is beating over the head to take your money.

While Obama has good intentions, he is showing how truly liberal he is, now. What a disappointment. I really liked him in the beginning, but maybe Hillary was right (I can't believe I just said that). And, maybe Hillary should have been the democratic candidate (I just threw up a little in my mouth). Billary at least did not drastically increase taxes and last time those two were in the White House, they ran a very moderate administration. Obama will have us all paying through the ears in taxes and then let the mismanaged Feds redistribute the wealth when they get around to it.

Americans do have a problem saving. They learn from Big Brother himself when it comes to spending money and saving. We need to figure out ways to get people to save more, or else there will be a huge crisis when retirement comes, if it ever comes for Generation X, Y, Z or whatever they are all called now. One idea is to have automatic enrollment into the company's 401k plan, forcing people to save. If you think that is too Big Brother, don't worry...most of these ideas come with an opt out escape pod, so no one is actually forced to do anything. But, when the money is taken out at the same time as taxes, and you don't get used to having it...more people save it.

While Americans may need some help saving, they surely do not need Obama and his government tax police stealing money from Americans to give it to people he deems as more deserving. I spent a lot of money going to college to make what I do today. I don't appreciate Obama saying I don't deserve every penny I earn, or that Tom, who dropped out of high school and has never held a real job, is more deserving of my money. Whether we are blue collar or white collar, we all work hard every day. We deserve to keep the money we earn. Imagine if a president were elected that said, I am going to tax the middle class heavily, so I can cut taxes for the rich and give them more of the middle class worker's money. People would revolt and overthrow the government. Well, why should we be able to do the same to "wealthy" people? Didn't they earn the money the same as those in the middle class? Isn't it still their money? Every day I become more disappointed with Obama. I just hope people really research what he is saying and what it will do to this country.