Skip to comments.If Obama wins he will nationalize your 401K
Posted on 09/07/2012 11:06:25 AM PDT by Pietro
I beleive that if Obama wins this election he will move to nationalize our 401Ks and every other pension plan in the country. Why?
Even after raising taxes on the "rich" he'll be no nearer to reducing the deficit; and then Obamacare kicks in.
His big idea boys will look around and notice the trillions locked up in pensions and 401Ks. They'll figure its all the government's money anyway and so they'll grab it.
They won't be able to go through the legislature so they'll need to use one of the Cabinet dept's to make the grab, and they'll have to do it quick, before you can react.
The election will show them the % of moochers vs % of producers and so they'll be comfortable thinking a majority supports the theft.
IF he wins...The IF grows larger by the day.
When Obama’s hyper inflation kicks in , what good will your 401K be anyway? He may as well just take it.
It isn’t earning any interest now.
Leftists began chattering about this amongst themselves within five years after Reagan created 401K’s.
I think he'll have plenty of time between 11/6 and 1/20
They’ve already talked about doing this, plus taking 40% of our interest on stocks.
If 0bama is re-elected, he’ll have NO INTEREST IN REDUCING THE DEFICIT OR HAVING A BUDGET. After all, he got re-elected with a massive deficit and no budget, right?
The USA, however, has sufficient assets to cover all of its debts and future expenses for the next century.
If anyone confiscates or nationalizes my savings, i sincerely believe violent overthrow of whoever did it is justified and moral. Like they taught me, the personal IS the political.
That equation works both ways, you would be tyrants.
I believe they will go after it via the back door by requiring a certain percentage of the 401K be invested with US Government bonds. They will start small at first say 5% and then increase that number over time.
This is when the shooting starts...
They can use Justice Roberts’ “tax power” argument to get away with stealing people’s property without just compensation in violation of the 5th amendment.
No matter who wins, your personal retirement accounts are toast. If you’ve provided for yourself, the least that will happen is it will be deducted from any social security due. It may just be rolled over in the ss fund. Make no mistake though, politicians are salivating over the money saved by individuals and won’t leave it alone
< Obama logic>
1. 401(k)s and IRAs are risky.
2. Government bonds are nice and safe.
Therefore, wouldn't it be wise to have people invest some of their retirement money in government bonds (never mind that they can already do so if they want to). So just require every retirement plan to put a small amount, say 10%-20% of their assets into government bonds. The resulting stock market crash from removing that much money from stocks all at once will just show how wise it was to keep some of the money in bonds. In a few years the percentage can be gradually raised to 50% or more.
< /Obama logic>
Soon all of the retirement money would be under government control without really inciting anyone to violence. Now maybe you would be willing to grab your gun and march on Washington for an outright theft of hundreds of thousands of dollars of retirement money, but would anyone do that for a change from 30% to 40% government bond requirement?
Yep- leftists specialize in incrementalism.
the frog in the boiling pot doesn’t notice.
Inflation would raise the price of stocks and so theoritically your 401K's "value" to rise also.
A fixed pension on the othetr hand would approach worthless in the event of hyper-inflation.
There’s plenty of reasons to dislike Obama and Romney without making crap like this up.
The bad news? We’re all frogs and the water temp is already at 190F. Of course Zero wants to crank it up to 350F... not just 212F.
I have a promise for anyone that steals from me. Make my day.
This thing is faaaaaaaaaaaaaaaar from over.
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