Retirement (was Re: Gore did it to himself)

[budge]

On Thu, 8 Aug 2002 at 11:33am Nathan Newman wrote:
>
> Clinton VETOED the creation of the Roth 401Ks they I
> railed against a while ago, which have become law under
> the Bush tax plan.  What Clinton proposed were what he
> called USA accounts, individual accounts to supplement
> social security that the government would susidize for
> low-income individuals. This proposal was the
> progressive inverse of 401Ks, which concentrate tax
> benefits for the wealthy.

two questions:

What are Roth 401ks and how are they different from regular
401ks?  (I also thought Roths came into existence 5 or 6
years ago...)

How do (regular)401ks "concentrate tax benefits for the
wealthy"?


> This proposal was one of the best made in the Clinton
> administration and it is intellectually lazy to ignore
> the specifics of the proposal in order to make the
> ludicrous claim that it has any resemblance to the
> rightwing privatization proposals bandied about.

I've made no such claim.  I just remember you saying
something about 401ks a while back and I didn't/don't
understand why you think they bad.

--
no Onan

Undefeated, everybody goes home