If the folks on the government dole or on the government's payroll via jobs were smart enough to figure this out they would be very, very alarmed -- when all sources of revenue are exhaused (as in from us), where will they get their money?
From where I sit, it isn't looking very pretty for anyone living in America.
I’ll yank mine down (WITH a penalty) before I sit still for THAT!!
“seize” meaning “steal” in this case. time to get the tar and feathers...
IRAs will be next.
They better do it quick because I’m about to retire and start drawing on mine - ON MY OWN TERMS, not theirs.
What’s with the pleasent request to not take our money?
Time for angry assertions to your congresscritters!
I don't know if even this will wake up the sleeping.
Sad.
Liberty was great while it lasted.
SS was supposed to be a GRA.
“paging paramedics to my desk...paging paramedics to my desk - STAT”
another “my head just exploded PING”
IOW, TAKE THE MONEY FROM PEOPLE WHO EARNED IT, SCRIMPED AND SAVED FOR IT, DID WITHOUT FOR IT, DIDN'T WASTE IT, ACTED RESPONSIBLY AND DIDN'T PARTY EVERY NIGHT, AND GIVE IT TO PEOPLE WHO SAT ON THEIR ASS, SMOKED CRACK AND DID NOTHING TO BETTER THEMSELVES FOR 50 YEARS!.......................
Appended to the law taking 401’s will be a death warrant
“Loss of Savings is Number #1 U.S. Economic Issue;
GOP Plan Would Help Rebuild Americans’ Savings”
http://gopleader.gov/savings/solutions.htm
“The Agencies are considering whether it would be appropriate for them to take future steps for them to facilitate access to, and use of, lifetime income or other arrangements designed to provide designed to provide a stream of income after retirement.”
Right, like the Fed did such a great job administering the SS funds.
“We appreciate your consideration of our views in these important matters and stand ready to work with you and the Administration to promote secure and adequate retirement savings for all Americans.”
Clearly the job of the federal government.
God help us!
Such a deal... the government takes my money and my employer’s contribution and gives me an IOU and I bet if I drop dead my kids won’t see a penny just like Social Security ...boy I can’t wait to sign up.
Lots of dead congresscritters if they pass this....lots of them.
Obama administration believes that employers cannot be relied upon to adequately manage the 401(k) retirement accounts it provides for their employees, therefore the federal government will relieve them of that responsibility and take sole discretionary control of those funds, thus eliminating the risk of mismanagement.
Obama’s vision of a perfect economy is where all salaries and company profits are sent directly to Washington where a committee of intellectuals decides how much to send to each individual.
Fits their MO.
They are already looting the assets of healty banks and financial institutions to cover those who tanked because of the sub-prime mortgage mess. They are going to repeat this in the retirement area to bail-out moribund Union pension funds.
They take your valuable stocks and bonds and own those companies until they sell them to China, and they give you an unfunded liability they may or may not be able to honor on their terms.
Vote out those you can and drag out the rest.