To the Editor:

Obama is trying to think of every possible way to get more taxpayer money (ours) to fund his woefully huge spending bills that nobody wanted! Here is the latest scheme.

The “Retirement Security Reform” policies being proposed by the Obama administration would strip the 401(k)s, IRAs, and 403bs of their tax-advantaged status. Employer “incentives” to participate in 401(k)s would be removed in exchange for government-controlled “Guaranteed Retirement Accounts” as a General Accounting Office report suggests.

A whopping 50 percent of a 401(k) holder’s assets would be taken upon their death as part of the planned merging of private accounts into a larger, Congressionally-managed pool of Guaranteed Retirement Accounts. Remember, when the government gets involved, it isn’t going to be your money anymore. Once this government gets control, they can do anything they want with your money, such as spend, and spend, and spend!

Private investment monies would be secretly funneled into “government approved investments” through convoluted tax incentives which reduce the attractiveness of private-sector investments in favor of supporting government debt sales, such as proposed Treasury regulations (CFR, Part 1, RIN 1545-BJ04).

Private citizens would be mandated to participate in forced government-approved and managed “savings” programs in the name of “retirement security”

It is crucial that unsuspecting citizens pay attention so they know what is happening. The press won’t tell you, but you must make yourself aware of Obama’s desperate schemes to take your money to pay for the debt caused by his reckless spending.

And, come Election Day, November 2, make your voice heard by voting for Conservative Sam Calgiuri for US Congress in District Five. Retire Obama supporter, Chris Murphy, permanently!

Respectfully,

Marybeth Hibbard

33 Taunton Lake Road, Newtown                      September 14, 2010