McCain Proposes Suspending Stock Sales in Retirement Funds
Save Email Print
Bookmark and Share
Updated: 12:31 PM Oct 11, 2008
McCain Proposes Suspending Stock Sales in Retirement Funds
McCain said Friday that his economic plan would spare investors who have to start selling off their retirement accounts at age 70 and a half. As the economy struggles and Wall Street plunges, the value of these accounts have tanked.
Posted: 12:31 PM Oct 11, 2008
Reporter: AP
width:200 and height: 150 and picwidth: 200 and pciheight: 150
Font Size:

LA CROSSE, Wis. (AP) _ John McCain is proposing a plan that would suspend mandatory sale of stocks in retirement funds.

McCain said Friday that his economic plan would spare investors who have to start selling off their retirement accounts at age 70 and a half.

As the economy struggles and Wall Street plunges, the value of these accounts have tanked.

McCain says investors shouldn't have to sell their accounts as the economy is at the lowest point in years. He says the investment rules should be suspended until the stock market recovers.


Latest Comments

Posted by: Scott Location: chicago on Oct 11, 2008 at 01:34 PM

It is not the stock sales, it is the distribution itself and the resulting tax. You can elect to take a distribution in cash (selling the investment), or an in-kind distribution, where you move the dollar amount of investments out of the IRA into a taxable investment account. Just like his mortgage idea, Mccain is giving off the impression he's grasping at straws here. Come on, Senator, please, you have far different ideas that you should be expounding on (taxes, healthcare) than coming up with brand new ideas just a few weeks before the election..Get back to being Mccain!
Wisconsin Political Blogs
Note: These blogs are not endorsed by NewsChannel 7 or Gray Television, Inc.

From the right...
Boots and Sabers
Real Debate Wisconsin

From the left...
Fighting Bob
Paul Soglin: Waxing America
Wood Co. Dems

From the middle...
Althouse
The Electric Commentary


More blogs
Real Clear Politics
CNN Podcast
  • Romney wins Florida, Gingrich Vows to Fight On
    CNN's Bob Costantini and Lisa Desjardins talk over the implications of Mitt Romney's big win in Florida's GOP primary. Plus, Lynn Sweet of the Chicago Sun Times discusses how the Obama reelection team looks at the Republican contest.