When do we get to start tarring and feathering the rat bastards again?
Posted on 10/09/2008 6:13:51 AM PDT by rellimpank
A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans.
Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans.
This was suggested by the chairman of the House Committee on Education and Labor.
“With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said.
(Excerpt) Read more at investmentnews.com ...
They already did! Mine’s down by 35%!................
Hold on to your wallets. These people are going to try and squeeze every possible dime out us to pay for their massive expansion of government that they want. When will they take away the tax benefits of the the Roth IRA? I predict that is next.
401(k) is a hoax. Congress will find a way to steal it.
Yep. I knew if I spent my Friday nights in the science library and then worked hard and saved my money for retirement, they’d eventually get around to taking it from me and giving it to the lazy and unproductive.
I should have put it under the mattress.
Or just spent it all without a care in the world and wait for the government to take it from people like me.
That's when I start buying ordnance. In bulk.
Where does stupid end and evil begin?
(that’s a low hanging pitch you may now knock out of the park)
“Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds, suggested Teresa Ghilarducci, an economics professor at The New School for Social Research in New York.”
I’m from the government and I’m here to help.
Maybe if we had decent interest on savings that would help. I’m not putting money I earned into the governments hands willingly. Of course, we may not have a choice.
YES, I'M SHOUTING. A NEW BUMPER STICKER:
| I WANT CHANGE! FIRE CONGRESS |
Yes, I just finished spending mine (and paid the taxes) two months ago.
NO WAY you are going to get to keep that money.
They really are encouraging a coup on Capital Hill, aren’t they?
Here it comes! If Obama gets in there will be wholesale, unbridled money grab by the democrat congress. The biggest pool of wealth available to rob is retirement accounts. It’s also convenient that much of that is owned by the evil rich. Thus, there will be no guilt attaching to its seizure.
Remember, the Klintoons considered just outright taking of all IRA’s and 401ks at one point and rolling them into SS.........but they thought it was too “radical”...........
Wow- the gubmint that set up the 401K investment system is NOW going to “allow” us to trade in our 401K’s for gubmint bonds - backed by the full faith and credit of the US gubmint! Will those new bonds have Hank Paulsen’s picture on them???
Where can I sign up???!!! sarc
This news is really going to boost investor confidence in our financial institions and markets, i’nt it?
(any chance the “lemon law” can be used to turn in our Congress and get a better model?)
When do we get to start tarring and feathering the rat bastards again?
Looks like the democrats are starting to implement Obama’s socialist gameplan. Watch out for your 401ks, people. They will try to take them from you, in the interest of “fairness”. This could be the start of a real war.
It’s almost time for the revolution.
Congress is a bunch of lying theives.
We need to vote all Rats out of office.
Play with 401 K’s and the Market will really melt down.
I know know that the democrats want a complete collapse of the US economy.
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.