Skip to comments.Administration Advances Plan to Federalize Private Pension System
Posted on 06/11/2010 11:50:30 AM PDT by gartrell bibberts
In February, the U.S. Treasury and Labor departments jointly announced they were seeking public comment on proposed design changes to employer-sponsored 401(k) plans and individual retirement accounts that would centralize the private pension system under structures created and administered by the government.
Supporters say these changes are needed to ensure Americans save more for their retirement and have lifetime income options that prevent them from outliving their retirement savings, protecting them from market risk.
At stake for the millions of Americans with private retirement plans: Would they be able to continue making their own investment decisions? Or would Congress mandate both investment options and distribution methods? Government Retirement Accounts also would prevent workers from owning their retirement savings fully, as they could bequeath only half of their remaining account balances to their heirs.
(Excerpt) Read more at carolinajournal.com ...
This needs to be stopped in its tracks.
As a currency collapses, the government will thrash about like a mortally wounded shark, looking for any “legitimate” means to prop itself up for the next day or week.
They will seek to confiscate ANY wealth that they can get hold of.
Oh . . . but they took such good care of our social security . . . . /sarc
I think this is a “trial balloon”, meant to gauge public opinion (hostility) to the idea, and yet to plant a seed of inevitability about it. And yet, if they are so bold as to advance a plan effectively nationalizing 401(k)’s for example, all that will be inevitable is violence.
If it even looks like the ‘Rats are going to seize 401k accounts, I’ll cash mine in and take the tax hit.
Up theirs. Damned if my dough is going into a phony “lock box” that’ll be raided to fund ‘Rat voters and will go bankrupt before I retire!
This is how the Argentine government stole all the wealth that its more prudent and hard working citizens had saved up, so it could be handed out to public employee unions and government-supporting layabouts. It is rank thievery. We should resist it by ANY means necessary. Any politician or bureaucrat supporting it should suffer the most dire consequences.
All your money are belong to us.
They already see us as serfs and are just finalizing some of the legalities.
Pray, prepare and vote while you still can.
The real reason for the Death Panels?
Probably. Go ahead and produce an armed population living under a terminal diagnosis, and who has nothing to lose any more. Go ahead. Let them do it.
Are we in the middle of a communist coup? It sure feels like it.
How's this for hostility....they take my 401K and I'll shoot one or two of them.
These people will not give up until there is bloodshed.
Pssst! Pssst! Jane Fonda and Ted Turner have a lot of moola and they love communism.
They have no reason to give up. We’ve not been able to stop any of this illegal administration’s ‘initiatives’ to this point. They have nationalized industry, financial institutions, healthcare, and they are now working on the rest of the media they don’t already control, the private wealth of the nation is merely the next stage in the grand scheme to destroy the country, and sink us into the hell that is socialism.
It’s time to take back the country.
The communist coup is the reason for collapsing the currency.
They want to make it SO bad that the country will be willing to give up its liberty in exchange for some promise of relief.
This is the reason the Antichrist comes to power during the tribulation. I don’t see THIS as the tribulation, but it may be a forerunner.
Aside from the issues of them taking our money.... think how many more people will be put out of work in the private sector by something like this!!!
I’m there with you. In fact, I’m changing jobs soon (hopefully) and I’m thinking that I was planning my 401K to pay for my retirement home, that I might just want to take the tax hit now and buy that 40 acres this year.
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.