Trump’s $1,000 Retirement Match: No Fiscal Authority, No Good Reason
Jessica Hall reports on President Trump’s plan “to create retirement-savings plans for workers who don’t have access to one through their employer, offering up to $1,000 a year in matching funds” for MarketWatch. Romina Boccia explains why the plan would require congressional authorization — and why lawmakers should think twice before approving it:
“Americans are still waiting on their tariff rebate checks and DOGE dividend checks. Not only does the administration lack the fiscal authority to seed 401(k)s with a $1,000 taxpayer match, nor is this a good idea,” Romina Boccia, director of budget and entitlement policy at the Cato Institute, said in an emailed statement after Trump’s comments. “Americans need a simpler system of tax-advantaged savings via universal savings accounts, not more tax-advantaged accounts (i.e….
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.