Ravenwood - 07/28/05 06:15 AM
Democrats in the House have unveiled their own retirement plan in response to President Bush's campaign promise to fix Social Security. Of course the Democrat's plan, "Amerisave", doesn't actually touch Social Security and it is only available for "middle and lower income" families. So, what will the bottom 50% get of taxpayers get?
"AmeriSave will help middle-class families build retirement security by expanding opportunities to save, and ensuring pension fairness, guaranteeing workers receive the benefits that they have been promised after a lifetime of hard work," House Minority Leader Nancy Pelosi, D-Calif., said in a statement.And just where will they get the money to redistribute to the bottom 50% of income earners? Why from the top 50% of course:Under the plan, workers would receive a dollar-for-dollar match for the first $1,000 contributed to an IRA, 401(k), or similar plan. The recipient would receive the match after they filed a tax return, with the funds directed into their retirement savings account.
The top 50% of wage earners pay more than 96% of all federal income taxes.
Category: Left-wing Conspiracy
Comments (2) top link me
Just wondering, what income point is the demarcation? Maybe I can't keep up with the Joneses all the time, but maybe I can hold my head up and say that I'm in the top 50%. (unless that point is rediculously low)
Posted by: Drew at July 28, 2005 1:17 PMApparently, the left the "L" out of Amerisave
Posted by: Sgt Fluffy at July 28, 2005 7:07 PM(c) Ravenwood and Associates, 1990 - 2014