Mr. Kruger, who the h*** are you or Chariman Miller to do ANYTHING with the private savings of responsible citizens!? The gubmint spends with wreckless abandon and where will they go to cover the debt they so irresponsibly ran up? The same place every irresponsible gubmint through history has ever gone – the people. Meanwhile, the very criminals who created the problem have golden umbrella retirement plans they created for themselves that they never had to contribute a dime to. Disgusting.

Hmmm, I recall lots of other “plain and simple” promises from politicians:

* Woodrow Wilson’s 1916 re-election campaign slogan, “He Kept Us out of War” (with the implication that he would continue to do so)… within a year… well, oops!

* FDR promised (in the 1940 election) that he would “not send American boys into any foreign wars.” within a year… well, oops again!

* More recently, How about GHW Bush’s “plain and simple” promise “READ MY LIPS, NO NEW TAXES” — yet, well oops once again.

* Or GW Bush’s “plain and simple” statement that “I don’t think our troops ought to be used for what’s called nation-building,” — guess that was another “misstatement”.

So when a politician makes a “plain and simple” promise — really it means we can expect the EXACT OPPOSITE in fairly short order.

That’s pretty darn “Plain and Simple” and damn obvious to boot!

JKHutzman
PWCoIiAWSoFiaot

(Person WITHOUT Conflict of Interest in any way shape or form in any of this).

P.S. And as for the Government instantly “selling” the 401K assets — don’t be absurd — one of the key justifications for the “confiscation” will be to AVOID a massive downturn in the market, by “freezing” the 401K assets held as stocks, bonds, etc — that the government is doing everyone a BIG HUGE FAVOR by “taking control” of said assets (on everyone’s behalf and for THEIR benefit, etc) thus “stabilizing” the market.– and preventing panic sales that could cause such a depression.

I am a retiree who worked hard and saved his whole life, played by the rules, served his country, raised a great family, and have wonderful grandchildren. Now that Mr. Waxman has completed the palace coup, the corrupt fix is in for the Franken takeover, and the senate will soon be veto proof, our country will enter the dark ages of a communist takeover of all wealth. It is with this cheerful belief that I am now beating the rush by getting my money out of all my IRAs and 401ks. I tend to be leading edge on my forecasts but always right so I (and my friends and relatives) will be one less group that the new regime will be able to bleed dry. Good luck trying to convince the markets to go up when all the smart money is stampeding out to safety.

Just so it is clear, we are not considering proposals to take away your 401(k), tax your 401(k) or force you into a government program. Plain and simple.

In fact, Chairman Miller is working to preserve and strengthen 401(k)s. He wants to ensure that 401(k)s adequately protect workers’ nest eggs by disclosing hidden fees that are eating into Americans’ retirement accounts. And, because older Americans stand to suffer the most from the economic downturn, Miller has called for the suspension of the unfair tax penalty for seniors who don’t take a minimum withdrawal from their depleted retirement accounts.

If you want to know more about what Chairman Miller is doing to make sure that American workers can enjoy a safe and secure retirement, go to our website: http://edlabor.house.gov/issues/strengthening401ks.shtml

Mike Kruger
House Education and Labor Committee