Comments on: McCain makes new 401k proposal

By: Hillary Democrat

Hillary Democrat — Fri, 10 Oct 2008 19:12:34 +0000

I don't want change, I just want what we have to work. Barack Hussein Obama and Botox Biden will instill socialism into our government. Please wake America. We can not have this happen and will change our country forever. Stop and think before you vote.

By: BJ in NC

BJ in NC — Fri, 10 Oct 2008 19:11:52 +0000

He means a 40K the way the economy is going. He does not have a plan except to rob the poor and give to the rich.

By: anne

anne — Fri, 10 Oct 2008 19:10:51 +0000

DO any of you understand the rules of IRA apparently not by your replies tothis blog. Funds have to be withdrawn at seventy and one half

By: Tracey

Tracey — Fri, 10 Oct 2008 19:09:09 +0000

What regulations require that people start selling off retirement investments when they turn 70 and a half? Is this federally mandated or state – how much do they have to sell – what is the penalty for not selling – and WHY do they have to sell?

By: Jr

Jr — Fri, 10 Oct 2008 19:08:55 +0000

McCain campaign national spokeman ( Trucker bounds ) make me sick!!! Red hair always lie!

By: Carmen

Carmen — Fri, 10 Oct 2008 19:08:54 +0000

Just to set the record straight (and I do taxes for a living) the penalty for early distribution on a 401K or traditional IRA is 59 1/2. At age 70 1/2 you have to start taking distributions and pay taxes THEN on the amount you take out,. The penalty is 10 percent, and in some cases, if you are laid off from work or the company goes out of business, there is a chance you can cash in your 401K WITHOUT the 10 percent penalty. My advise is roll it over to a IRA and take your distributions from it. Check with your tax advisor on the best way to handle it. As was noted before, I believe McCain shoots from the hip and doesn't know what he is aiming at most of the time. McCain and Palen both haven't got a clue.

By: anne

anne — Fri, 10 Oct 2008 19:07:35 +0000

wake up people you have to withdraw IRA money at seventy and one half. do you what to take it out today, and lose 30 percent or wait a while for markets to come back

By: Veteran in Kansas

Veteran in Kansas — Fri, 10 Oct 2008 19:03:21 +0000

Republican Sen. John McCain’s recent statements that he would revive President Bush’s scheme to privatize Social Security. (march 2008)

Now of course is the problem that those that have 401Ks but dont want to draw them down verus those that have 401Ks and were relying on them to make ends meet. I know McCain knows lots of people that have to draw down their 401Ks because they are his age, but how many folks does he know that were actually counting on that money for retirement income.

By: robin

robin — Fri, 10 Oct 2008 19:02:59 +0000

McCain's 401(k) idea, again is one that only helps the rich. Under current law everyone is forced to start taking money out of tax qualified retirement plans and IRAs at age 70 1/2. Otherwise people could save tax deferred forever, and the government would never get its tax revenue. Most of us start drawing down on our retirement plans and IRAs after retirement, so the forced distribution at 70 1/2 is not an issue. But for those like McCain, who don't need the money to live on, then this is a good plan. He would let their money keep growing tax-free forever.

By: Maddie, Hartford, Ct.

Maddie, Hartford, Ct. — Fri, 10 Oct 2008 19:02:48 +0000

So what is he going to pull out of his bag of tricks this time? A man with seven homes and thirteen cars can not really relate to the guy on Main Street. Is it a good idea? At this point...who knows?

By: hello

hello — Fri, 10 Oct 2008 19:02:01 +0000

At last one good thing came out from this candidate.
I like the idea but I won't vote for you, just because you are too old and I don't want to give presidency to Hockey Mom.

By: Bitter in Texas

Bitter in Texas — Fri, 10 Oct 2008 19:00:01 +0000

...to Little, To Late. Lordy, I can't wait until I can vote early...I've had enough of McGeezer/McFallin.

By: Jerry Atrick, New York

Jerry Atrick, New York — Fri, 10 Oct 2008 18:58:59 +0000

Brian from Canada – your propaganda will not work. I guess that since you can see Alaska from your house you have contracted the scatterbrained syndrome.

Attention New Yorkers: Today – 10/10 is the final day for registration. You can download forms from the internet. Fill, sign and have them postmarked by TODAY. Those in the city can go the Board of Elections Executive Office on Broadway to submit the form in person BY MIDNIGHT.

By: Darrell

Darrell — Fri, 10 Oct 2008 18:57:52 +0000

Ann,
Not to worry I have seen every McCain, Palin speech and they have offered nothing to solve this problem. McCain has not had a new idea in quite sometime and it is actually a good idea for televison stations to not run the hate filled, lying, fraudulent speeches that Palin and McCain campaign run on. I am serious about this Ann, they really have had very little to offer and what little they have offered is not their own plans or ideas.You really have missed nothing

By: Eric J.

Eric J. — Fri, 10 Oct 2008 18:54:28 +0000

One House
One Car
One Spouse
OBAMA 08

Maybe if McCain and Cindy sell off some of their homes and fleet of cars we can stop this economic crises. I understand why McCain does not like Obama's tax plan, he and Cindy would have to pay more. So much for being patriot Huh..
What about Palin, paling around with the Alaska independence party? is that a group who love's their country? What about McCain sitting on the board of a company with members who were dead smack in the middle of Iran -Contra scandal?
Let be fair media..would someone please dig up the truth on that..

By: Larry

Larry — Fri, 10 Oct 2008 18:52:57 +0000

As long as there is one small chance that Palin could be next VP, the economy will suffer.Who in their right mind would invest one nickel in a country that has this hateful wingnut possibly in control of the free world.McCain and Palin is the scariest thing that could further hurt the economy. I do not no one investor that feels comfortable with the possibility that Palin could become next President.I also have not heard of one foreign investor that will re invest until they know there is no chance for Palin to become the leader of the free world.

By: Beah

Beah — Fri, 10 Oct 2008 18:52:23 +0000

Senator McCain, I lost all my respect for you. Your running mate is a total disgrace to women who are intelligent and understand what is at stake. Even some conservative women thinks that she's incapable to be VP. PALIN is as dumb as an oxymoron! Without her looks your ticket equals TITANIC!

By: Joe from Mahwah, NJ

Joe from Mahwah, NJ — Fri, 10 Oct 2008 18:51:11 +0000

Sarah,

Just go back to Alaska....look out your window....wave at Russia...and take sniper shots at Putin's new tiger cub.

That One 08

By: Shari, NY

Shari, NY — Fri, 10 Oct 2008 18:50:18 +0000

You know, I had also asked about Dick Chency? Is he alright? As Bush's mouthpiece I find his silence rather deafening. Condi Rice only shows her head when there is a sudden eruption afield. As much as I am dissatisfied with Bush's performance he should get more support. Did I just say that?

By: Bruce

Bruce — Fri, 10 Oct 2008 18:48:36 +0000

What? this make no sense...
I am sure that the losses in the market will not stop becuse 401K account for individuals are selling their stock...
come on
this is not the answer,, ,he is grasping at straw...zttack one day then come up with off the wall crap the next to make it look like he helping..he has no plan...
he and palin are loosing and will throw whatever they can out there to try and win.
McCain you were in the past an honorable man...you are now a fool.

By: Observant Voter from Texas

Observant Voter from Texas — Fri, 10 Oct 2008 18:48:29 +0000

Go away McShame, Go AWAY!

By: America think for you

America think for you — Fri, 10 Oct 2008 18:48:01 +0000

Bomb Iran no more we need jobs over here. Our pockets are hurting. My kids are looking at me hungry and daddy cannot feed them. Bomd Iraq no more it cost $ billion a month while they have a $ 79 billion surplus and we in the US are running a $ 50 trillion dollars defficit. We need that $ 10 billion in the US. Alghada is in Afghanistan not in Iraq. 4000 young boys with bright future had lost their lives fighting an unjustify war. We need jobs in the US to pay for high gas and high grocery. No more bomb we are causing global warming to get worse with every bomb we drop.
We need a president that understand the economy and that can work with world leaders. The economy is causing people to commit suicide we are fed up.

By: varlee10

varlee10 — Fri, 10 Oct 2008 18:47:48 +0000

Mccain is so desprate that he is going to take anything from anywhere. He wants to win at all cost and so he is blind to the fact there is nothing new in what he is saying. This not even a plan, his plan is to put this country down finally. Vote Obama people!!!!!!!!!!!!!!!!

By: Ann

Ann — Fri, 10 Oct 2008 18:47:39 +0000

I think the 401 suspension plan is a good one and although I don's back the buy up the bad mortgages if Obama had said it it would be the answer to all our prayers!! I myself had to put 10 to 20 percent down on my homes and have worked hard to pay the mortgages off in 15 to 20 years. I have an investment property that has an adjustable rate that will adjust in August. Property taxes have doubled and the value of the home has gone down by 20% and I say I will have to find a way to make it work. I made the investment and have to be responsible for my actions. I feel that the plan would be modified but it does show McCain is trying to take steps to correct the problem. A good president surrounds himself by experts in each area. Only a fool pretends to have all the answers himself (Barack) the rest of us are alittle confused. I guess you could say we were erratic!! I personally am sick of the national news channel broadcasting one politicians complete speaches everyday but not the other!! Obama doesn't have to be negative. He has the national news channels to do it for him.
Here is to a better tomorrow.

By: Felly

Felly — Fri, 10 Oct 2008 18:46:46 +0000

McCain is erratic. He is too old and desparately making last minute policy proposals with poor judgement like Bush.

By: Skeeve

Skeeve — Fri, 10 Oct 2008 18:45:49 +0000

Gail, I don't mind Bin Laden siting on my door steps – much easier to apprehend him then there then in some god forsaken mountains.

By: lance

lance — Fri, 10 Oct 2008 18:45:35 +0000

Of course the reason the government requires you to take out from your 401K at 70 1/2 in the first place is that the money sat growing tax-free for all those years and the goverment wants its tax money when you start withdrawing.

So, to allow it to just sit for those 70 1/2 and older means the government won't get its tax money. It's OK, we'll just borrow more from the Chinese or whoever – until they stop lending to us.

On the good side, it gives a reason to let panicky seniors keep their money in the market. The more people pull money out of the market, the lower stock prices go...

By: Carolyn

Carolyn — Fri, 10 Oct 2008 18:45:28 +0000

Of course John came up with this today. At 72, I'm sure he doesn't want to have to withdraw his 401k's now either... pay your taxes, John. And oh yeah, where are your wife's returns??

By: McCain+Palin=FEAR

McCain+Palin=FEAR — Fri, 10 Oct 2008 18:45:11 +0000

TRUE AMERICANS for McCain:
Please tell us, wise one- exactly What makes a true American?
Being white???????

By: Denise

Denise — Fri, 10 Oct 2008 18:43:31 +0000

McCain turn in your ticket you are a disgrace to the NATION. You are running a racist sleazy campaign and it is a disgrace to mankind. Obama have a plan and you have a scheme. You are erractic and Obama is cool like James Bond. Give it us a Break and go home.

By: James

James — Fri, 10 Oct 2008 18:42:45 +0000

I thought it was 59 and a half not 70 and half? I could of swear they said if you touch your 401k or investment before age 59 and a half you get a 10% penalty tax. I never heard it being 70 and a half before.

By: BatCat05

BatCat05 — Fri, 10 Oct 2008 18:42:35 +0000

Isn't this the same pandering McCain that wanted a Gas Tax Holiday? Go ahead and trick Americans into doing something foolish with their 401K's, how much worse can the American financial crisis get. McCain/Palin, Bad for America and even worse for its citizens. OBAMA/BIDEN That's the TICKET!

By: Rob

Rob — Fri, 10 Oct 2008 18:42:08 +0000

Has anyone noticed Sarah Palin's new hairdo? It's to hide an earpiece they've given her so they can prompt her when she's flubbing with her words.

By: Papasan in Arizona

Papasan in Arizona — Fri, 10 Oct 2008 18:39:35 +0000

This is further evidence of McCain's disturbing love affair he has with himself. He will never take responsibility for the BANKING DEREGULATION mess! McCain wants the American Public to trust his financial wisdom? Wake up John, we still remember your KEATING FIVE disgrace!

By: Mohamed from Virgina

Mohamed from Virgina — Fri, 10 Oct 2008 18:37:50 +0000

According to public records, McCain and Cindy received a marriage license in Maricopa County, Ariz., in early March 1980, four weeks before his divorce from Carol was final. A judge in Florida dissolved the McCains' marriage April 2, entering a default judgment after Carol failed to respond to three court summonses. John and Cindy were wed six weeks later, on May 17.

abdisalaan@hotmail.co.uk

By: Listen Up...

Listen Up... — Fri, 10 Oct 2008 18:36:10 +0000

No. McCain reminds me of Mr. Burns from the Simpsons. Everytime he says "My friends" I have to check my wallet to make sure what's left of my money is still there.

He has lowered his campaign to the bottom of the pit. The only place for him is to start having cross burnings at the remaining rally and giving out complementary McCain-Palin 08 torches and pitch forks!

The fact that he would wage this type of war against Obama during this terrible economic moment for this country, rather than showing what the steady hand at the tiller does makes him and his hand puppet totally unfit and unworthy for POTUS.

I am fed up and I approve this message.

By: JOHN MCCAIN CONSPIRACY THEORIST!!!

JOHN MCCAIN CONSPIRACY THEORIST!!! — Fri, 10 Oct 2008 18:35:08 +0000

Keep spreading that hate and getting your lynch mob all riled up John. We'll be over here trying to get our country back on track. Maybe taking a peek or two to see how much your campaign of fear and division helps our guy Obama out on the electoral map. Let Steve Schmidt's pitbull Palin keep on barking. Everytime she barks, we donate and organize.

By: Debbie

Debbie — Fri, 10 Oct 2008 18:33:45 +0000

My 401k is worth almost nothing, I don't have enough money saved as I had put both my children through college. Although they are out of the house, the house is not paid off. My husband's job has laid off over 150 persons last month and it is a small company. I work but I do not make the kind of money needed to sustain the bills. I am not overly in debt, pay with cash but still it is hard.

I only have one house...

By: O L

O L — Fri, 10 Oct 2008 18:31:06 +0000

Years of corruption, greed and mismanagement (of lack of) of the economy has brought us to the brink of an economic collapse. Thousands of jobs have moved overseas under the umbrella of free enterprise, our banks are failing day by day and our Treasury is spending $10 Billion dollars a month in Iraq alone. The Republican administration of the last 8 years has been a complete failure and John McCain knows that. His policies will just be a continuation of a discredited and failed political philosophy of deregulation and unfettered market capitalism. And now, when the Republican strategists see that all is lost, they are launching a disgraceful campaing of character smear the likes we have not seen in our political scene for a long time. Let's hope the American public see through this charade and we get the change this great country deserves.

By: Farrell, Houston, Tx

Farrell, Houston, Tx — Fri, 10 Oct 2008 18:30:43 +0000

MCCAIN AND PALIN SHOULD START A "GOSSIP" MAGAZINE, THAT'S WHAT THEY'D BE REALLY GREAT AT SELLING GOSSIP.

By: Dave

Dave — Fri, 10 Oct 2008 18:29:44 +0000

Read the fine print folks! McCain is good at coming up with knee-jerk reactions, but I'd bet money that he hasn't even figured out what his own proposal would mean for taxpayers!

By: Mike

Mike — Fri, 10 Oct 2008 18:27:30 +0000

This, finally, is a good idea from McCain. (not having to cash out of 401k after age 70)

It's not enough, it won't change my vote, and it doesn't come close to compensating for his filthy and dishonorable campaign, but it is a good idea and I acknowledge it.

By: A Boston

A Boston — Fri, 10 Oct 2008 18:27:30 +0000

This dude is unbelievably desperate. He's just offering rough drafts he wrote up the night before.

OBAMA/BIDEN 08

By: SAD DAY IN AMERICA

SAD DAY IN AMERICA — Fri, 10 Oct 2008 18:27:26 +0000

This campainge the MCcain is running has got to stiop seriously think about it this man is a war monger and whether it be here or abroad at this point it makes no difference to maccain. have you guys notice that cynical smile he and sarah have when their supporters strats yelling this hatred please take a closer look nat their breaction i,m telling you guys this is getting out of controll if this is how they handle their campainge is this turly hopw you would likje to see the country ran seriouly all jokes aside

By: John, Austin TX

John, Austin TX — Fri, 10 Oct 2008 18:27:19 +0000

I'm so confused. What is McCain doing now? He rolls out a new plan as often as he changes his diapers.

By: Debbie

Debbie — Fri, 10 Oct 2008 18:26:11 +0000

McCain, you were once a Hero
Now you are a Zero

By: ber6964

ber6964 — Fri, 10 Oct 2008 18:26:07 +0000

Preaching to his base again over 70 yr old people that think that a bi racial man should stay in his place!! Great Idea McCain!!

By: Steve

Steve — Fri, 10 Oct 2008 18:24:13 +0000

John – you had my vote!

I have now lost confidence in you! You failed the test. You became too cynical and dishonest for my vote. I don't know who you are anymore. You seem to be saying anything to get votes.

THAT EQUALS DISASTER FOR OUR NATION!

By: chuck in ontario

chuck in ontario — Fri, 10 Oct 2008 18:23:54 +0000

John McCain is sick in BODY

By: Peter

Peter — Fri, 10 Oct 2008 18:23:49 +0000

McCain should think before he talks, people don't have to sell there stocks to take there RMD (required minimun distributoin). People can take distributions in Stock or mutual funds to a non-IRA account. Making it so they can wait for the stock/mutual fund to increase in value and then liquidate.

Obama/Biden 08