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Obama Administration Plans to Seize 401(k) Retirement Accounts
The New American ^ | 5/6/2010 | Joe Wolverton II

Posted on 05/06/2010 4:55:29 AM PDT by IbJensen

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To: DCBryan1

That’s pretty direct, there.

But maybe this WILL be the issue over which people start taking more direct action,

especially if the ballot has become too corrupted to offer any remedy.


41 posted on 05/06/2010 7:47:19 AM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: Mr. Wright

I’m just now reading “Architects of Ruin”.
All about how the “community organizers” forced banks, through extortion, to lend to people who aren’t credit-worthy.

Actually, I’m TRYING to read it,
but it’s simply making me too angry and I have to put it down after reading just a page or two.


42 posted on 05/06/2010 7:48:49 AM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: IbJensen

Argentina seized over $68 billion of private pension funds last year.

I am sure that event did not escape the view of the NObama administration & their Czars.


43 posted on 05/06/2010 7:48:54 AM PDT by ridesthemiles
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To: ridesthemiles

Our company MANDATES that we contribute at least 3%. I’m nearing 50 and could use that money for other stuff. Any suggestions?


44 posted on 05/06/2010 7:49:15 AM PDT by AbolishCSEU
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To: rightwingextremist1776

401-K’s—Keogh’s—Ira’s—Roth IRA’s—every kind of personal retirement plan is involved with this plan.

I would bet that money set aside for education for your kids & grand0kids is also on the chopping block. Even Health set aside plans.


45 posted on 05/06/2010 7:50:54 AM PDT by ridesthemiles
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To: UnbelievingScumOnTheOtherSide

50 separate states with a federal government securely constrained by enumerated powers of the Constitution.

What a concept!

Maybe we WILL have to have a civil war, by definition, instead of another war of independence as 1776 and 1861 were in reality.

Dismantle EVERYTHING,
and rebuild it from the ground up starting with the government of 1783.


46 posted on 05/06/2010 7:52:41 AM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: SumProVita

Husband and I have transferred to a Roth IRA. We paid the tax penalty and will never pay taxes on that again!”

I am pretty sure that ALL IRA’s Roth IRA’s Keogh’s and such will be in the pot for this grab of assets.

I say put it into cash then into a safe at your house, until NObama & this Congress are gone.


47 posted on 05/06/2010 7:52:46 AM PDT by ridesthemiles
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To: bert

Congress giveth & Congress & NObama can taketh away......


48 posted on 05/06/2010 7:53:32 AM PDT by ridesthemiles
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To: SMARTY

Same here. I’ll gladly eat the penalty to keep it from being S-T-O-L-E-N to pay for someone else’s health care.


49 posted on 05/06/2010 7:55:57 AM PDT by Windcatcher (Obama is a COMMUNIST and the MSM is is armband-wearing propaganda machine.)
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To: AbolishCSEU

OPT OUT of the entire program- Pay the penalties & the taxes & get off the program completely.

If the company gives you grief——ask them if they will sign a notarized letter stating that THEY will replace any money that NObama & his CZARS take.
Show them a printout of this tread. Maybe they will get some information that will shake them to their core.


50 posted on 05/06/2010 8:20:48 AM PDT by ridesthemiles
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To: wbill

Speaking for myself, I keep some $$$$ in a bunch of different places and tax structures. It’s more complicated, and maybe wishful thinking. but I figure that DC can’t get everything at once’

EVERY ONE of those accounts is tied to your social security number.

They have computers that can get everything at once.

Get a large safe— put some of it into cash NOW.


51 posted on 05/06/2010 8:22:28 AM PDT by ridesthemiles
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To: AbolishCSEU

OPT OUT of the entire program- Pay the penalties & the taxes & get off the program completely.

If the company gives you grief——ask them if they will sign a notarized letter stating that THEY will replace any money that NObama & his CZARS take.
Show them a printout of this tread. Maybe they will get some information that will shake them to their core.


52 posted on 05/06/2010 8:26:55 AM PDT by ridesthemiles
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To: SMARTY

I advise you to take it now- because once he does this- yours will be gone.
Take it out- pay the penalties & taxes and put it into a safe. Forget about piddling interest at the bank or credit union which you have to pay taxes on again.
They can trace the funds if you put it somewhere else—and then seize it anyway.

Take it & hide it.


53 posted on 05/06/2010 8:27:32 AM PDT by ridesthemiles
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To: ridesthemiles

“OPT OUT of the entire program- Pay the penalties & the taxes & get off the program completely.”

Sounds good, BUT...my employers tells me the only way to get money out of a 401(k) is to retire to quit the job. That doesn’t sound like such a good trade-off to me.


54 posted on 05/06/2010 8:31:33 AM PDT by logos (I have enough ammo to get more.)
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To: ridesthemiles
Stuff my money in cash in a fairly safe (and well-defended) place? And try to outwit the government by not behaving as they've ever-so-reasonably requested?

That would be sneaky, unethical, and completely dishonest. ;-)

55 posted on 05/06/2010 8:56:20 AM PDT by wbill
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To: UnbelievingScumOnTheOtherSide

“My vision of America is 50 separate states with no Congress, no Supreme Court and a President in charge of strategic defense and nothing else. We don’t need a federal government anymore. Too much hassle and dangerous.”

So you want to essentially do away with the Federal govt. I think we tried that and called it the Articles of Confederation. It didn’t work too well and resulted in the constitutional convention. I can’t say the fed govt we have today is working today is any better. Rather than going back to the 1700s for a solution how about we take govt back about 60 years when nearly EVERYTHING seemed to work better.


56 posted on 05/06/2010 9:03:27 AM PDT by Hacklehead (Liberalism is the art of taking what works, breaking it, and then blaming conservatives.)
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To: Hacklehead

Not far enough. 1950: We’d just lost China, Truman gaff leads to Korean War and stalemate, Truman tries to nationalize steel stopped miraculously by the Supreme Court...

Everything was in place to get us where we are now.

I want Andrew Jackson. I want the 16th & 17th Amendments repealed. I want a Supreme Court that is not statist - which means before Kansas City School Board, before Plessy and before Dred Scot, before John Marshall - all WRONG WRONG WRONG!

We started with a nice document that has been 200 years in destroying.


57 posted on 05/06/2010 9:26:49 AM PDT by UnbelievingScumOnTheOtherSide (NEW TAG ====> **REPEAL OR REBEL!** -- Islam Delenda Est! -- Rumble thee forth)
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To: elk
Liberty was great while it lasted.

Eternal vigilance.

58 posted on 05/06/2010 10:34:23 AM PDT by gundog (Outrage is anger taken by surprise. Nothing these people do surprises me anymore.)
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To: MrB

Much the same reason I WILL NOT watch State-run media evening news . . . it is simply disgusting!!


59 posted on 05/06/2010 11:09:47 AM PDT by Mr. Wright
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To: SumProVita
and will never pay taxes on that again!

So they say today. My husband has always been skittish about the rules being changed on Roth's, I hope it works out for you.

60 posted on 05/06/2010 12:11:25 PM PDT by prairiebreeze (Send a contribution to FreeRepublic! Every dollar helps!)
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