That seems to be Sen. Clinton's plan recently. First she wanted to give 5k to each child born. That's nice. She has already dropped that plan like a hot potato. I can't believe she even floated it out in the first place. Although I'm sure the program would have been limited to children of citizens. Right?
Now she has a plan to give everyone a 401k like plan. Again, I'm sure its just for legal citizens. The government would match up to $1000 per year with some restrictions on income, etc.
I already though we had a government retirement program, Social Security. Why do we need another? Could it be that SS doesn't work? Blasphemy!!!
Social Security is a very important safety net for our country. Let me give you two examples.
My grandfather worked till the day he died. He paid into Social Security from the beginning. After he died, he got the death benefit, a couple hundred bucks. What happened to the rest of the money he paid in? Gone. Spent to run the government. That is why we must never privatize Social Security.
My sister died recently. She was 28. Because she was single, she did not receive the death benefit. All the money she paid in is gone. I figure she paid in over $20,000 and got nothing back. How can Americans support a scheme like this? I'll never understand.
My grandfather wanted to get out of the system. I even think he wrote them a letter asking such. I found a way to get out, by working for a local government. I never thought I would be a government employee, but it is one of the reasons I took the job. All the money I have contributed is gone: I'll never see it, not a penny. All you out there in your early thirties, like me, will never see any either.
So enjoy having 15.30% (combined employee and employer share) of your paycheck confiscated. Know that you will never see a penny and even if SS is eliminated, the tax will never go away. The government needs the money to take care of you.