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Posted on 10/11/2010 5:02:03 PM PDT by 4buttons
In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.
(Excerpt) Read more at humanevents.com ...
I wonder how that would impact me? I withhold 50% for the 401K....
Zero tolerance for marxists in US government.
Investigate and arrest members of the “Progressive Congressional Caucus”, send those red sons of bitches back underground.
All States right to work states, no forced union dues in order to work, defund the marxist trade and government worker unions.
No one will pay union dues voluntarily.
Smash the left!
“I wonder how that would impact me? I withhold 50% for the 401K”
I typically am only able to set aside 4% for the 401k. So, I think that this legislation would result in you giving me 21% of your nest egg so that I can purchase a luxurious beachfront retirement home.
Of course they’ll try it. They stole my grandfather’s retirement once - his gold. They’ll do it again.
If they do this, it IS civil war.
Guaranteed.
On one hand they want to confiscate our money so a part of you tells you to pull it out of the banks and put it somewhere that the government can’t find it. On the other hand, the current government would be the first to jump on the bandwagon of a “world currency” thus making our cash worthless. Seems to me that the current administration is in the process of a coup beyond anything ever before seen in our government. This is scary stuff.
Schick-schick!
Yep.
Buy gold and silver, ANY time they even introduce this will make both sky rocket even more.
“Buy gold and silver.” Good advice. I would consider buying land but I’m pretty certain that the government (at least as things are going) would put the property taxes to a point where the average tax payer cannot afford anything more than the basics.
Cool. So, when can I book some “couch time” at your beachfront villa?
I thought that about means-testing Social Security, and now that's a very real option on the table before the SS "Commission."
If you saved a nest egg, no Social Security for you!
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