Skip to comments.The Government is After Your Retirement Accounts
Posted on 02/15/2014 7:31:31 PM PST by Aquamarine
The presidents myRA plan tells you a lot about where the country is headed.
Many Americans have virtually nothing saved for their retirement. That is a fact. President Obama emphasized this point in his State of the Union speech and proposed a dramatic solution. He wants you to trust your retirement money to the governmentso you can be protected.
One of the most important rules in investing is never invest in something you dont understand. Just behind that is never invest in something just because some guy in a good suit tells you to. You work too hard to waste what you earn.
So lets look at the presidents proposal and collect some more facts.
(Excerpt) Read more at thetrumpet.com ...
Those thieving commies in the District of Corruption are after ANYTHING with “In God We Trust” printed on it.
Retirement accounts in the U.S. are, in one way or another, invested in the stock market.
If Obama demanded they be invested in Treasuries, the stock market would tank...and that ain't gonna happen.
I already entrusted to the Government A LOT of my retirement money. I have been paying into Social Security for 45 years. THEY HAVE SPENT THE MONEY THAT I ENTRUSTED TO THEM! I hope that younger generations don’t fall for the MyRa. Money down this Socialist Government rabbit hole.
the lucky ones are those who own a property outright and sell it. But if u are in your 50’s and really hurting, better do something quick just in case we have a Hillary/Wasserman ticket in the white house in 2017.
They cannot get the Chinese to buy anymore of their junk debt so now they’re trying to dump it on us.
I am not that big of a sucker.
The stock market has crashed before and it could again in the near future. Maybe the government wants to get to the retirement funds before Wall Street does.
absolutely. it would have been the next thing after health care if we hadn’t woken up in time for the midterms.
trillions of dollars at at stake, and the central thing that pisses off the liberals — that one person that worked harder than someone else has a more comfortable retirement than the other person — will spur them to attempt a takeover.
imagine the old catchphrases with different wording — “retirement is a human right”, “no one should live in fear of retirement”, “people shouldn’t go bankrupt because they retire”.
II will cash in my accounts and take the penalty before I would let this SOB and his minionsconfiscate my IRA”s
Seems we constantly hear about how Social Security is going to run out of money. How come we never hear about welfare running out of money?
Whats interesting is the first group worked for their money, but the second didnt".. The Bookworm Room.......
LOL! What retirement account? I cashed out several years ago at the peak. Go ahead socialists, plunder the useful idiots. With some education about your tactics and evil ways, many of them will come after you. They’ll finally see the damage you have caused. You won’t have a safe place to hide. Your time is coming. When you’ve got nothing, you’ve got nothing to lose. When that day comes I will stand with them.
Stand, watch, listen, teach, prepare BUMP!
The U.S. Supreme Court has upheld the constitutionality of federal and state retroactive tax legislation on several occasions throughout the years. In its most recent decision concerning retroactive taxation, the Court upheld the retroactive application of an amendment limiting a federal estate tax deduction on the grounds that it was not harsh or arbitrary and did not have an unduly long period of retroactivity (U.S. v. Carlton, 512 U.S. 26 (1994)). In 1938, the Court upheld a Wisconsin law that retroactively disallowed an income tax deduction for certain dividend payments, rejecting arguments that the retroactivity violated the appellant's equal protection and due process rights (Welch v. Henry, 305 U.S. 134 (1938)).
Retirement funds will be rolled over into long-term Treasuries —surprise!
Future myRA contributions will be AUTOMATICALLY DEDUCTED from your paychecks.
Want to take it up a notch? Just MAIL Obama your entire paycheck!
Hey maybe that’s the PLAN?
Who expected that the BATF would use it’s own officers to EXPORT MACHINE GUNS TO NARCOS, specifically to generate ghastly murder headlines...?
Five years ago if you had told me that would happen I’d have deemed you NUTS.
BUT IT HAPPENED.
His goal is to “make things fair” by punishing bad, rich America, and right before he leaves office he will:
1. do away with US nuclear weapons
2. confiscate all retirement funds
FUNDAMENTALLY TRANSFORM —he was being COMPLETELY honest about that.
He sees his role as HISTORIC, and he is a deeply angry man whose parents AND grandparents were commies from hell.
You are absolutely right. The only exception or out will be whether the retroactive snare would be construed to be double taxation (redundant) to the IRA penalty clause already in IRS rules. If this was tried it would invoke the mother of all class action suits.
Done many years ago. The exact day was the very top of the peak. The circumstances were surreal as a 401k rep mistakenly moved all of my funds into a money market account during a transaction request. The next day the market took a big dump and they asked me if i wanted to re-establish my position. I declined and within months, I took the penalty and completely cashed out. I've never looked back. Life has been greater than ever, defunded/depopulating all things socialist from my life.
"If you don't have it [assets] in your possession, you don't own it. - Ann Barnhardt
I am assuming many of us have found “Other Uses” for our mattresses?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.