Monday, January 18, 2010
Bloomberg reports that the Obama Administration is considering measures to encourage Americans to convert their 401(k)s and IRAs into Government-provided annuities. The story has attracted a lot of negative commentary in the blogosphere:
- Will Collier, Coming Soon: Substituting Government Annuities for Your 401(k)?
- The International Forecaster, IRA's and 401k's to be Crammed Down While Tax Collections Plunge
- The Market Ticker, 401k/IRA Screw Job Coming?
- ROFASix, Is the Government Coming for Your IRA and 401k?