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The Government is After Your Retirement Accounts
Philadelphia Church of God The Trumpet ^ | 2/14/2014 | Robert Morley

Posted on 02/15/2014 7:31:31 PM PST by Aquamarine

The president’s 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 government—so you can be protected.

One of the most important rules in investing is never invest in something you don’t 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 let’s look at the president’s proposal and collect some more facts.

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


TOPICS: Business/Economy
KEYWORDS: myra; retirement

1 posted on 02/15/2014 7:31:31 PM PST by Aquamarine
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To: Aquamarine

Those thieving commies in the District of Corruption are after ANYTHING with “In God We Trust” printed on it.


2 posted on 02/15/2014 7:34:36 PM PST by FlingWingFlyer (As government expands, liberty contracts. - President Ronald W. Reagan)
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To: Aquamarine
It will never happen.

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.

3 posted on 02/15/2014 7:36:07 PM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: Aquamarine

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.


4 posted on 02/15/2014 7:38:20 PM PST by originalbuckeye ("A thing moderately good is not so good as it ought to be. Moderation in temper is always a virtue;)
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To: Aquamarine

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.


5 posted on 02/15/2014 7:39:04 PM PST by Cruz_West_Paul2016
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To: Aquamarine

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.


6 posted on 02/15/2014 7:39:18 PM PST by boycott
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To: RoosterRedux

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.


7 posted on 02/15/2014 7:39:37 PM PST by Aquamarine
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To: Aquamarine

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”.


8 posted on 02/15/2014 7:43:55 PM PST by JohnBrowdie (http://forum.stink-eye.net)
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To: Aquamarine

II will cash in my accounts and take the penalty before I would let this SOB and his minionsconfiscate my IRA”s


9 posted on 02/15/2014 7:44:32 PM PST by catfish1957 (Face it!!!! The government in DC is full of treasonous bastards)
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To: Aquamarine
The administration that just can't quit spending is going to tell us how to save???

Yeah, right.

10 posted on 02/15/2014 7:45:57 PM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: Aquamarine
Thanks AM.......

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?

What’s interesting is the first group “worked for” their money, but the second didn’t".. The Bookworm Room.......

11 posted on 02/15/2014 7:47:23 PM PST by virgil283 (When the sun spins, the cross appears, and the skies burn red)
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To: Aquamarine

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!


12 posted on 02/15/2014 7:49:47 PM PST by PGalt
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To: catfish1957
They'll make it retroactive by a year or two to snare people like you and me who try to outfox them. They've passed retroactive taxes before, so don't think they won't do it again. They aren't about to allow us suckers to keep what we earned over a lifetime. They would be perfectly happy to have you and me selling apples and pencils on the street corner in retirement. After all, it's the socially just thing to do to the winners of life's lottery.

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)).

13 posted on 02/15/2014 7:50:52 PM PST by ProtectOurFreedom
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To: Aquamarine

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.


14 posted on 02/15/2014 7:53:38 PM PST by gaijin
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To: Aquamarine

15 posted on 02/15/2014 7:53:43 PM PST by P.O.E. (Pray for America)
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To: Aquamarine

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.


16 posted on 02/15/2014 7:55:53 PM PST by gaijin
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To: Aquamarine
My ex-wives already got them.

/johnny

17 posted on 02/15/2014 7:59:26 PM PST by JRandomFreeper (Gone Galt)
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To: ProtectOurFreedom

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.


18 posted on 02/15/2014 8:00:20 PM PST by catfish1957 (Face it!!!! The government in DC is full of treasonous bastards)
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To: catfish1957
II will cash in my accounts and take the penalty before I would let this SOB and his minionsconfiscate my IRA”s

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

19 posted on 02/15/2014 8:03:56 PM PST by PGalt
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To: Aquamarine

I am assuming many of us have found “Other Uses” for our mattresses?


20 posted on 02/15/2014 8:21:51 PM PST by Cruz_West_Paul2016
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To: JohnBrowdie

“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.”

Yep, they want to confiscate the retirement accounts from all the ants who worked hard and saved their money instead of spending it all right away, give a little bit of the stolen money back to the ants, but then give the rest to the Democrat grasshoppers.


21 posted on 02/15/2014 8:24:41 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Aquamarine

Good article:

Is America Being Deliberately Pushed Toward Civil War?

Has a second civil war been “gamed” by our government? And are Americans being swindled into fighting and killing each other while the banksters who created the mess observe at their leisure, waiting until the dust settles to return to the scene and collect their prize?

Who wins in a new American civil war? If we become blinded by the trespasses of a certain White House jester, only the globalists will win.

http://www.alt-market.com/articles/1806-is-america-being-deliberately-pushed-toward-civil-war


22 posted on 02/15/2014 8:24:57 PM PST by Mortrey (Impeach President Soros)
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To: Aquamarine

It’s the Chicago Way... what’s yours is mine and what’s mine is mine


23 posted on 02/15/2014 8:26:57 PM PST by Nifster
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To: catnipman

if they can pass a law that gets your health insurance cancelled, and then force you into some government orchestrated monstrosity, they can do anything.

including confiscating your 401k and giving you some sort of government coupon in return.


24 posted on 02/15/2014 8:27:32 PM PST by JohnBrowdie (http://forum.stink-eye.net)
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To: catfish1957

“I will cash in my accounts and take the penalty before I would let this SOB and his minionsconfiscate my IRA”s”

Won’t we all! And literally cash too! Cash that then gets accidentally thrown away in the trash due to a tragic misunderstanding with the wife (just in case the fascists think about trying a clawback).


25 posted on 02/15/2014 8:27:34 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Aquamarine

liberals want to steal our money so they can buy more vacation homes without having to work for it.


26 posted on 02/15/2014 8:35:07 PM PST by Cruz_West_Paul2016
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To: Smokin' Joe
yeah, right...

27 posted on 02/15/2014 8:38:01 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: Aquamarine

For the sake of brevity let’s just have a list of what the government isn’t after.


28 posted on 02/15/2014 9:36:20 PM PST by TigersEye (Stupid is a Progressive disease.)
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To: TigersEye

LOL!


29 posted on 02/15/2014 10:26:36 PM PST by CorporateStepsister (I am NOT going to force a man to make my dreams come true)
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To: RoosterRedux

Remember that Hillary said “but the money is just sitting there”


30 posted on 02/16/2014 4:08:41 AM PST by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: Aquamarine

Well, there’s a blessing. We have no retirement funds to steal.


31 posted on 02/16/2014 6:00:28 AM PST by lurk
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