For as little as $25 you can let the government invest your savings for a great return of 2.2%. The government has made a mess of Social Security, the War on Poverty, Education, name it. Now they want to invest your savings, with an executive order, no less, and it will be opt out instead of opt in. The White House has even calculated what will be a sufficient in forty or fifty years. One million will do the trick they say. I wonder what computer model they used to come up with that.
The White House Thinks
Those four words should tell you why President Obama’s executive order named MYRA should be flushed down the toilet. President Obama has decided that $3.2 million is all anyone needs “to fund a reasonable pension in retirement.” Therefore, he wants to limit the tax benefits to those top earners, to 28 percent of what they set aside.
It Offends Me
It is offensive when government official decides what is best for me. It offends me when our representatives, at any level of government, thinks I am too stupid to know how to invest my savings, It offends me, when the government decides, in the small print, that I must opt out, to keep their paws out of my wallet, or what insurance product I must purchase, which size soft drink I can drink, ad nauseam.