Homestead mailing list

[bob ford <bobford79 AT yahoo.com>]

"Powerful House Democrats are eyeing proposals to overhaul the nation's $3 
trillion 401(k) system, including the elimination of most of the $80 billion 
in annual tax breaks that 401(k) investors receive. 

House Education and Labor Committee Chairman George Miller, D-Calif., and 
Rep. Jim McDermott, D-Wash., chairman of the House Ways and Means Committee's 
Subcommittee on Income Security and Family Support, are looking at 
redirecting those tax breaks to a new system of guaranteed retirement 
accounts to which all workers would be obliged to contribute. "


http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971&template=printart