Here are a couple of sources:
House Democrats Contemplate Abolishing 401(k) Tax Breaks Would Obama, Dems Kill 401(k) Plans?
Since the proposal is offering a mere $600 subsidy, that means there's a tax increase on anyone making more than $12,000 a year as everyone would be FORCED to join this government-run program for their 401(k) and FORCED to contribute 5% of their gross income. If you currently don't contribute to a 401(k), that's essentially 5% of your money they're taking away without you being allowed to choose not to participate. People who now get employer matching of their 401(k)'s will likely see that disappear, too.
Basically what we'll have is Social Security II. The first one doesn't work and will go bankrupt in just a few years. Now the Democrats want to do it again.
This is socialism. It is government taking over people's private investments and eliminating the choice of those people.
Why would they want to do such a thing? These people believe in big government and government taking over as much of our lives as possible. They define success as how many people are dependent on government while conservatives believe that success means how many people no longer need government.
