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The Feds Want Your Retirement Accounts
American Thinker ^ | 2-22-13 | John White

Posted on 02/22/2013 5:57:57 AM PST by radioone

Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag.

Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency's first foray into consumer investments." That thought generates some skepticism, as aptly expressed by the Richard Terrell cartoon published by American Thinker.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Politics
KEYWORDS: 401k; 401ks; cfpb; democrats; ira; obama; republicans; retirementaccounts
Now we know how they are going to pay for Obamacare.
1 posted on 02/22/2013 5:58:03 AM PST by radioone
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To: radioone
The Feds Want Your Retirement Accounts

And I want theirs. Along with their lifetime healthcare benefits, their security, their vacations and their lazy lifestyle.

Guess I'll have to wait for that 2 year gig in Congress before that will happen.

2 posted on 02/22/2013 6:03:18 AM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: radioone

Another item sufficient to anger the populace into action.


3 posted on 02/22/2013 6:10:32 AM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: radioone

It is ironic how many debates going on in DC about financial matters hinge on the debates coming regarding the Second Amendment and the abolishment of the trigger finger recall vote.


4 posted on 02/22/2013 6:12:53 AM PST by Mouton (108th MI Group.....68-71)
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To: radioone
...Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings...,

...'cause that's just the kind of guys they are...

5 posted on 02/22/2013 6:15:48 AM PST by THX 1138 ("Harry, I have a gift.")
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To: radioone

Let’s compare this government to organized crime. Oh wait, they are the same thing, except that organized crime doesnt tell you how to live your life.


6 posted on 02/22/2013 6:18:16 AM PST by Brooklyn Attitude (Obama being re-elected is the political equivalent of OJ being found not guilty.)
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To: radioone

I’ve already told my financial adviser that if this even comes close to reality I’m pulling everything and will gladly take the tax consequences.


7 posted on 02/22/2013 6:19:37 AM PST by TheRhinelander
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To: radioone
Obamacare will fail -- it was designed to fail. We will have Single Payer health insurance: the government will control it all.
Social Security will fail -- they want it to fail. We will have government seizure and control of all retirement funds; your money will become their money.

Now, the next step: A lot of people have fixed-rate mortgages with low rates. That's good. If we have hyperinflation, paying your mortgage will be a breeze, as long as you get any kind of cost of living wage increase. But your property taxes may skyrocket. If you are out of work, your property tax may be too much for you, and the government will seize your home. I see massive housing takeover by the government as a distinct possibility.

Health, Housing, and Retirement -- the government may control 100% of all of that. Communist Utopia, here we come.

8 posted on 02/22/2013 6:20:10 AM PST by ClearCase_guy (Nothing will change until after the war.)
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To: THX 1138

Those who have managed to build trillions in surplus (real savings) need no help from those who have only created trillions in debt.


9 posted on 02/22/2013 6:21:10 AM PST by 5thGenTexan
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To: ClearCase_guy

Agree.


10 posted on 02/22/2013 6:22:57 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: radioone
"[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency's first foray into consumer investments."


11 posted on 02/22/2013 6:25:56 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: TheRhinelander
I’ve already told my financial adviser that if this even comes close to reality I’m pulling everything and will gladly take the tax consequences.

This^^^

12 posted on 02/22/2013 6:28:01 AM PST by Obadiah (We must commit to remove every Senate Blue-dog Democrat from office in 2014!)
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To: radioone

What’s both interesting and Machiavellian is that under this proposal the Government gets your “contribution”, invests it in Government Bonds and gets both the Principal and Interest when you die. And when you consider the “Death Panels” of Obamacare it becomes even more obvious that it is to the Governments benefit for “Unproductive Citizens) aka Senior Citizens and the disabled to die earlier if possible because they are no longer “productive” to the Economy.


13 posted on 02/22/2013 6:28:18 AM PST by The Working Man
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To: ClearCase_guy
Health, Housing, and Retirement -- the government may control 100% of all of that. Communist Utopia, here we come.

Anybody with no money in the bank gets it for "free."

Anybody with any money in the bank pays through the nose until they too have no money in the bank.

Now that's "equality."

14 posted on 02/22/2013 6:29:05 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: radioone
"I see you have some money there. Give it to me."
15 posted on 02/22/2013 6:31:18 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: radioone

The inner city predator class along with all the government workers relying on unfunded pension promises will be all for this. Now that the takers outnumber the producers the nationalization of private retirement accounts is almost certain to happen. Get your money out now.


16 posted on 02/22/2013 6:32:09 AM PST by circlecity
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To: TheRhinelander
I’ve already told my financial adviser that if this even comes close to reality I’m pulling everything and will gladly take the tax consequences.

They will just classify that as "money laundering" and use the asset forfeiture laws to take it.

17 posted on 02/22/2013 6:34:29 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: radioone

If this happens, the commie bastards who vote for it should be shot and strung up immediately. Dem, Pub, every last one should be made an example of.


18 posted on 02/22/2013 6:35:11 AM PST by Mich Patriot (PITCH BLACK is the new "transparent")
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To: The Working Man

Do you think it was an accident this years flu vaccine was virtually ineffective, 9% effectiveness rate, for those over 65? Those were the numbers reported today.


19 posted on 02/22/2013 6:35:24 AM PST by Mouton (108th MI Group.....68-71)
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To: radioone
Why should the Government intervene in people's savings decisions? The justifications for Government intervention in private financial decisions are varied. Panic over the economy, Wall Street, mandating savings equity, eliminating investment risk, financial crisis losses, retirement security, much-needed oversight, your 401K becomes a 201K, shoddy financial products, and predatory investment bankers are just a few.

And somehow, depite all those obstacles--no matter how contrived--those who managed to sacrifice and save, ammassed over 19 trillion dollars?

20 posted on 02/22/2013 6:40:33 AM PST by Lou L (Health "insurance" is NOT the same as health "care")
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To: Mouton
Sometimes I think that the cover will be blown off the corruption and we will find out that LBJ killed JFK, there is no gold in Fort Knox, Obama was born in Kenya, no votes have been actually counted in any election since 1956, we've known of a cure for cancer for 30 years, cold fusion works perfectly well, and the government has been designing ineffective flu vaccines in an effort to kill as many old (expensive) people as possible.

Sometimes I think the world could be darker and more corrupt than I think it is. What would happen if people opened their eyes and said, "It's all a lie? All of it? They've been playing me for a fool my entire life? Those bastards ..."

21 posted on 02/22/2013 6:44:19 AM PST by ClearCase_guy (Nothing will change until after the war.)
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To: radioone

we’ve seen this coming for a while. Looting.

Have they never thought about what happens after they have stolen and squandered all the wealth?


22 posted on 02/22/2013 6:48:00 AM PST by GeronL (http://asspos.blogspot.com)
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To: G Larry

and by “action” you mean moan and groan, vent online and change the channel?


23 posted on 02/22/2013 6:49:30 AM PST by GeronL (http://asspos.blogspot.com)
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To: radioone

That’s why the want to disarm us. Then they can steal our money.

Mrs AV


24 posted on 02/22/2013 6:50:43 AM PST by Atomic Vomit (http://www.cafepress.com/aroostookbeauty/358829)
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To: THX 1138

Any legislation proposed by 0 and his minions with the word, “PROTECTION”, in it should be considered worthy of extra scrutiny.
0 is going to go down as the most destructive and arrogant president in US history and also the most deceptive and manipulative at that. Not good qualities for the first black president to have in the history books but I’m sure the liberals will rewrite it anyway.


25 posted on 02/22/2013 6:53:40 AM PST by jsanders2001
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To: Lou L; 444Flyer
And somehow, depite all those obstacles--no matter how contrived--those who managed to sacrifice and save, ammassed over 19 trillion dollars?

*Retirement* accounts? Pharaoh will not allow the slaves to rest from their burdens. Now they must find their own straw, yet still produce the same number of bricks.

26 posted on 02/22/2013 6:53:48 AM PST by Ezekiel (The Obama-nation began with the Inauguration of Desolation.)
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To: radioone

And now you know why the Feds want your guns.


27 posted on 02/22/2013 7:04:05 AM PST by Little Ray (Waiting for the return of the Gods of the Copybook Headings.)
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To: radioone

Obama and the Democrats really want to sink their claws into every kind of monetary reserve in the US.

Jimmy Carter seriously wanted to start taxing tax-free municipal bonds, but every bond issuer screamed so loudly that he backed down.

Obama has now stated four times that he wants to do the same, even though it would cripple every bond issuer in the country. HE DOESN’T CARE! HE WANTS THE MO-NEY! The hell with everything and everyone else.


28 posted on 02/22/2013 7:08:24 AM PST by yefragetuwrabrumuy (Best WoT news at rantburg.com)
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To: ClearCase_guy

I have always said that the American dream of home ownership is a facade. Stop paying your property taxes and see how fast they take your paid off house. Just ask any farmer/rancher who inherited the family farm.


29 posted on 02/22/2013 7:10:04 AM PST by Resolute Conservative
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To: radioone

I paid the taxes two years ago, anyone who didn’t see this coming deserves what’s going to happen.


30 posted on 02/22/2013 7:17:40 AM PST by Jim Noble (When strong, avoid them. Attack their weaknesses. Emerge to their surprise.)
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To: ClearCase_guy
What would happen if people opened their eyes and said, "It's all a lie? All of it? They've been playing me for a fool my entire life? Those bastards ..."

Nothing. By the time that happens, all firearms will have been confiscated.

31 posted on 02/22/2013 7:21:01 AM PST by Bloody Sam Roberts (Here once the embattled farmers stood... And fired the shot heard round the world.)
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To: radioone

Those with retirement accounts should take a good look at how quickly NY rammed through their gun confiscation “law”. It would be a good idea to get any retirement savings out of designated retirement accounts immediately. I took the penalty already because I don’t trust the communist druggie in our White House.


32 posted on 02/22/2013 7:26:38 AM PST by Pollster1
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To: G Larry

if such legislation passes and is signed into law, it is time to burn DC to the ground...


33 posted on 02/22/2013 7:43:41 AM PST by wny
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To: TheRhinelander
I'll do it but won't gladly take the consequences. But I will take them.
34 posted on 02/22/2013 8:05:15 AM PST by BipolarBob (Happy Hunger Games! May the odds be ever in your favor.)
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To: Resolute Conservative

I have always said that the American dream of home ownership is a facade. Stop paying your property taxes and see how fast they take your paid off house. Just ask any farmer/rancher who inherited the family farm.


I agree completely.

I also believe that the concept of private property in America is an illusion. If the state wants it they can take it. Also I have seen that crimes against property are treated as being on the lowest level of enforcement and investigation. And why not... The state has implicitly let it be known that Private Property rights really mean nothing to it.

If you want to really change attitudes, make Private Property an un-taxable thing. Once the state respects that and you as a property owner everything else shifts in respect to that.


35 posted on 02/22/2013 8:07:42 AM PST by The Working Man
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To: TheRhinelander

Those asholes in DC have put the nation in trillions of debt and they want to manage our personal retirement funds?
They playing with fire.


36 posted on 02/22/2013 8:17:35 AM PST by tflabo (Truth or Tyranny)
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To: E. Pluribus Unum
"I see you have some money there. Give it to me."

Indeed - now the sudden big push for Gun Control (prelude to confiscation) makes more sense.
They see the end-game nearing and ONE THING stands in their way - 80 million Americans holding 300 million firearms.
Except me, of course - guns are scary and bad so I traded mine for farm equipment....

37 posted on 02/22/2013 8:19:11 AM PST by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: ClearCase_guy

I don’t know about the list of conspiracies, but the part about “playing me for a fool my entire life” is pretty accurate.

The ruling elite truly believes that the masses are foolish. And, after 13 years of indoctrination in government schools and ongoing propaganda from the MSM, the fact is that most are very easily deceived.


38 posted on 02/22/2013 8:24:08 AM PST by Skepolitic
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To: Little Ray

It’s safer for those who use obamacare to kill people if the targets are not disarmed, too. They want your estate. The shorter you live, the more of your retirement nest egg they get. If they can get away with it, they would prefer to take everyone’s retirement money before they are murdered via death care.


39 posted on 02/22/2013 8:41:12 AM PST by SaraJohnson
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To: G Larry

They are not angry enough.


40 posted on 02/22/2013 8:58:42 AM PST by Excellence (9/11 was an act of faith.)
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To: Psalm 73
They see the end-game nearing and ONE THING stands in their way - 80 million Americans holding 300 million firearms.

Most of us are smart enough to know that Democide always happens once they have total control.

Might as well go out fighting.

41 posted on 02/22/2013 9:28:44 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: radioone

If this took place, blood would be pouring in the streets, and many in power in government executed. That a’int gonna happen.


42 posted on 02/22/2013 9:37:29 AM PST by catfish1957 (My dream for hope and change is to see the punk POTUS in prison for treason)
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To: Psalm 73
Except me, of course - guns are scary and bad so I traded mine for farm equipment....

Me too, except all of mine fell in the lake last week after a nasty boating accident.

43 posted on 02/22/2013 9:41:00 AM PST by catfish1957 (My dream for hope and change is to see the punk POTUS in prison for treason)
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To: Ezekiel
*Retirement* accounts? Pharaoh will not allow the slaves to rest from their burdens. Now they must find their own straw, yet still produce the same number of bricks.

Describes to a tee the burden of the hard working taxpayer under PharO Tutti Frutti.

44 posted on 02/22/2013 10:35:42 AM PST by 444Flyer (Obama killed the Twinkie, but not the Terrorists in Benghazi. What's wrong with this picture?)
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To: ClearCase_guy

LOL, you don’t know how I vacilate between those thoughts and others or whether I am the crazy one.


45 posted on 02/22/2013 12:22:04 PM PST by tiki
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To: GeronL

no....I mean the same thing I meant when I said “Tea Party”....


46 posted on 02/22/2013 12:55:35 PM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: E. Pluribus Unum; Brooklyn Attitude; radioone

47 posted on 02/22/2013 4:14:30 PM PST by 4Liberty (Some on our "Roads & Bridges" head to the beach. Others head to their offices, farms, libraries....)
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To: radioone

bttt


48 posted on 03/21/2013 2:59:45 PM PDT by petercooper
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