In a completely predictable decision, Obama came out and denied troops access to military set up 401(k) plans. These plans, if created, would have allowed military members to contribute to 401(k) plans with matching from the military and would give military members that don’t serve a full 20 years some retirement benefits. So now our troops will continue to be stuck with the “all or nothing” plan they have now. Serve 20 and get a pension or get nothing.
However the real reason Obama doesn’t support these is simple. Our Communist in Chief hates the idea of private property that is under the control of people and not the government. As a dedicated Communist he believes government should own everything, be in control of everything, and give (or take away) everything. This is a guy that was raised from birth worshiping the state in all of its forms as god and all that it does. In his warped and demented worldview the state should be all powerful and never does wrong. The idea of giving our military members private property is not something he can or will swallow. Truth be told if he could nationalize all private plans (401(k), 403(b), IRA, etc) tomorrow he would do it in a heartbeat.
This is the sign of a power mad dictator, but then we already knew that about him. Some of us knew that back in 2004 when we heard this clown speak for the first time. His actions have simply confirmed what we already knew.
Note to our dedicated military members you can still open up Roth IRAs when you join and contribute money to the fund. The bad news is you won’t get a match and you won’t get a tax break, BUT you will own this piece of private property forever and when you remove the money at retirement it will be tax free. Private property and tax free. I say do it, just doing this on any kind of mass scale is bound to give Obama heartburn and that should bring a smile to everyone’s face.