Do you think people should have to cash out their IRA or 401K before accepting food stamps?
This is based on another question I saw on here. I have never considered this before but it does seem like you should have to use any money your family has available to take care of yourself and when you have exhausted your resources then you should be able to turn to the government for help.
Interested in others thoughts on this. Please be nice!!
Answer by gemgem at 3:21 PM on Apr. 13, 2011
Answer by Mel30248 at 3:21 PM on Apr. 13, 2011
Answer by musicpisces at 3:23 PM on Apr. 13, 2011
Answer by kkbird at 3:24 PM on Apr. 13, 2011
Answer by Anonymous at 3:24 PM on Apr. 13, 2011
Answer by punkypreggo at 3:32 PM on Apr. 13, 2011
I don't think people should be racking up wealth while on PA however I don't think they should have to be at the point of losing all belongings before being allowed to get any help at all. I do believe there is a 10% tax penalty for withdrawing early. Lets kick people while they are down. If they have been contributing to a 401K they have also been paying taxes for how long? I am sure that the other savings they have were used before it got to that point.
To me it puts a focus on the wrong people what about the ones that are a constant drain?
Answer by Charis76 at 3:36 PM on Apr. 13, 2011