I actually read that dumb article in The Atlantic[/b] , "The 401(k) Is a $240 Billion Waste." Don't bother reading it yourself.

The article's premise is that government is "subsidizing" the 401(k) program, because they're not taxing it. (Not taxing something, according to these folks, is the same thing as subsidizing it.

It has apparently escaped the author's attention that [b]401(k) contributions and gains are, indeed, taxed. They are taxed at the time the funds are withdrawn, not at the time the funds are placed into the account, but every penny ends up being taxed. Which makes the entire premise of the article a lie.

I've not read the other articles mentioned, but if they're based on reasoning like this, I don't think our 401(k) accounts are in any serious danger anytime soon. We do have a Republican-controlled House, and while they're generally as economically-challenged as the Democrats, I just don't see this proposal gaining any traction.

Onward and upward,
airforce