Skip to comments.Argentina grabs private pension funds (Is this the future of America if we run out of cash?)
Posted on 04/14/2010 8:50:15 AM PDT by SeekAndFind
April 14, 2010
Here is a warning to us all. The Argentine state is taking control of the country's privately-managed pension funds in a drastic move to raise cash. [...]Here is a link from La Nacion and another from El Pais for Spanish speakers....
... over $29bn of Argentine civic savings are to be used as a funding kitty for the populist antics of President Cristina Kirchner. This has been dressed up as an anti-corruption and efficiency move. Aren't they always?
They already are into your kid's pockets via student loans...
But they will pay you back. Honest. Maybe. In pesos.
I’m pretty sure they already take the money we pay in for Social Security and use it elsewhere. Isn’t that about the same?
Taking retirement funds is outrageous. Of course, it hits the middle class the hardest since these are the folks who have saved their whole lives for their "golden years." If this happens, "golden years" will be "gold plated rust ball years."
Can you ping Feral to this one?
This is a certainty for America if we fool around and leave Democrats in charge after 2010 and 2012. Our socialists are no smarter or ethical than socialist thugs elsewhere.
There are already plans drafted to tax/fee high-end IRAs and pensions, as that kind of money pile is UNFAIR if in private hands.
Not if,but, when. It won’t be long.
This will not be the FIRST time someone has mentioned doing something with your 401K
You KNOW they are eyeing it.
Never let the government ‘hold’ your money. These idiotic ‘health savings accounts’ are the same stupidity. Set a pile of money aside, that you cant use for anything, and if you get sick, we will let you spend it. If you dont get sick we will keep it....and we’ll set up a big bureaucracy to manage the program too....
Who the hell thinks THAT is a great idea?
This was posted yesterday and someone noticed the article was dated November 2008.
treating them as current income
and hence taxed at current rates.
Watch for this maneuver if the
marginal rate for income taxes
is cranked up to >50% to
capture the sudden “windfall” profits
Which article? If you clicked on the link I provided from the American Thinker, it is dated April 14,2010.
See here :
If you click the link to the Telegraph article it was dated Nov. 2009.
Read, understand, remember, act.
It’s our future, and I’d say near term.
They won’t wait until they run out of cash.
“This is a certainty for America if we fool around and leave Democrats in charge after 2010 and 2012. Our socialists are no smarter or ethical than socialist thugs elsewhere.”
It’s going to take more than that. The Republican whores we have in office now would do the same thing, for the most part. We need to get conservatives through the primaries, and into office.
“Its going to take more than that. The Republican whores we have in office now would do the same thing, for the most part. We need to get conservatives through the primaries, and into office.”
True, keeping with the reality that we have a two party system, and trying to punish Republicans with third party candidates will only keep the Democrats in power. The 2010 and 2012 elections aren’t just battles, they are going to decide the war. Of course we want conservative candidates in the Republican Party, but as it stands, even the Republican “whores” are better than the radical, Democratic Party, ...most times. Beat the whores in the primaries, like you said, but beating Democrat control is essential.
I’m invested in tax-free munis. My trigger point at which I flee to parts known only to me and renounce my citizenship will be when the Congress begins debate on taxing heretofore tax free financial instruments. At that point there won’t much left to be loyal to.
Uh, that’s already started. The “Build America” Bonds are designed to end tax-free muni issuance.
When that VAT hits the liquor aisle, Obama voters will be the first ones freaking out. Just wait. Nothing like the ability to say "I told you so" within six months of the initial warning.
back in the late 80’s someone with Jesse Jackson’s RainbowPUSH outfit added up all the cash that was sitting out there in people’s 401K accounts and they all started to salivate. Ever since then the idea of expropriating it for investment in “public goods” has been percolating through the Democrat Party.
Another idea they are trying out in Argentina is allowing the laid-off workers from closed factories to come back in as squatters and just expropriate the place away from it’s former owners. Then they put it back into production as a “workers cooperative”. Coming soon to a rust belt city near you....
Oh please do and if you ever need some ideas of what things cost in VAT countries...look at my posts in VAT threads or message me and I can give you some prices of routine everyday things that should scare the pants off of them.