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Congress takes aim at 401(k)s (to pay for mounting Federal deficit)
Bankrate.com ^ | 2011-06-03 | Jennie L. Phipps

Posted on 06/03/2011 9:32:45 PM PDT by rabscuttle385

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1 posted on 06/03/2011 9:32:50 PM PDT by rabscuttle385
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To: rabscuttle385

I have never bought a gun. If they start hacking away at my 401k rights, I just may. I have lost so much freedom already.


2 posted on 06/03/2011 9:36:48 PM PDT by pogo101
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To: berdie

later


3 posted on 06/03/2011 9:37:34 PM PDT by berdie (qill)
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To: pogo101

Let’s see.

Argentina did it.

France has been doing it.

Who has the latest? It was an eastern European country last month.

They will do this, it is just a matter of when, not if....


4 posted on 06/03/2011 9:40:40 PM PDT by TruthConquers (.Delendae sunt publicae scholae)
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To: rabscuttle385

“....conclude that these retirement planning programs will cost the federal government about $600 billion in lost revenue over the next five years.”

Again the government believes that IT has a God Given right to tax anything and everything as it sees fit. Such ideas must be beaten out of their heads or we will eventually need to abolish the government.


5 posted on 06/03/2011 9:42:07 PM PDT by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
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To: bitterohiogunclinger

They’ll do it if they are allowed to do so.


6 posted on 06/03/2011 9:51:09 PM PDT by unkus
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To: rabscuttle385
The Congressional Joint Committee on Taxation and the Treasury Department's Office of Tax Analysis

They'd have to have been smoking a lot of joints to think that this will fly with middle America.

7 posted on 06/03/2011 9:53:06 PM PDT by mountainbunny
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To: rabscuttle385

“...these retirement planning programs will cost the federal government about $600 billion in lost revenue over the next five years.”

Bulls#it. This is not “lost revenue”. They were never going to get it, so they can’t “lose” it. If the author were being honest, this phrase would read “...these retirement planning programs represent an additional $600 billion revenue potential for the government over the next five years.” But they can never write that, because it exposes the government for the parasite it really is.


8 posted on 06/03/2011 9:53:40 PM PDT by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: rabscuttle385

They want to crash the stock market too. Because the employment scene and housing market are not enough.


9 posted on 06/03/2011 9:57:30 PM PDT by MetaThought
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To: rabscuttle385

CONgre$$ and the WH are a clear danger to this country and its financial future.

They just can’t kick their addiction for OPM.


10 posted on 06/03/2011 9:59:34 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: rabscuttle385

I doubt they “cost” the government anything. First of all they tax too much and are stealing our money as it is. Secondly, by allowing people to invest more of their own money these people become less dependent upon government handouts which should be a good thing for government.


11 posted on 06/03/2011 9:59:48 PM PDT by plain talk
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To: rabscuttle385

Or, to paraphrase John Bigboote (that’s Bigboo-TAY!), “It’s not your goddamn money, understand, monkey boy?”


12 posted on 06/03/2011 10:00:32 PM PDT by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: rabscuttle385
cost the federal government about $600 billion in lost revenue over the next five years.

Why are socialist so fixated on five year plans?

What the ass hats are forgetting is that money is INVESTED IN THE ECONOMY. Not to mention the municipal, state, and FEDERAL bonds that are bought with some of this money.

The money that poured into the markets beginning in the early 80's was the primary driver of the phenomenal growth and advancement in the last three decades.

thestupiditburns

13 posted on 06/03/2011 10:01:03 PM PDT by Drill Thrawl (Are you prepared?)
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To: TruthConquers
They will do this, it is just a matter of when, not if....

I'm fully confident that this Congress won't do it, but if Dems get the House again, you'd better believe they would.

14 posted on 06/03/2011 10:02:17 PM PDT by fwdude (Prosser wins, Goonions lose.)
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To: bitterohiogunclinger

What an individual saves for his or her retirement or for things they want to do to keep themselves out of debt is not the government’s money it is our hard earned funds. The idea that this effing government thinks that everything we make belongs to them and we are entitled to just a stipend thanks to their benevolence is an outrage. When in hell are people in this nation going to wake up and scream ENOUGH?


15 posted on 06/03/2011 10:02:54 PM PDT by celtic gal
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To: Little Pig

Love that movie.


16 posted on 06/03/2011 10:03:21 PM PDT by Drill Thrawl (Are you prepared?)
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To: rabscuttle385
thanks, for the information / thread / post.


once, the American Taxpayers (& voter) hears about this....
Nov. 2010, will be remembered as the good times for the rats...
it shall be a blood bath, the Socialist Marxists shall be history in Nov. 2012.

17 posted on 06/03/2011 10:09:18 PM PDT by skinkinthegrass (You do not have to smear (Pharaoh / Imam) Obama w/ lies....the truth does a fine job. :)
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To: rabscuttle385
Should Congress put limits or even completely do away with the tax incentives that make saving within a 401(k) or some other tax-advantaged retirement plan attractive in order to cut the deficit?

Of course they should. But only as part of a constitutional amendment outlawing income taxation at all levels of government — federal, state, local, and international (enforced by nuclear weapons financed with a consumption tax).

18 posted on 06/03/2011 10:11:41 PM PDT by cynwoody
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To: Little Pig
Our 401ks, our houses, every penny we own is in peril.
To think otherwise is hoping against hope.
Our government has clearly demonstrated their unilateral confiscatory nature coupled with unbridled spending recklessness. We are in monetary black hole.
The national debt will not magically disappear,
but our individual accounts and wealth most certainly will.
19 posted on 06/03/2011 10:19:50 PM PDT by schwingdoc
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To: Drill Thrawl

“Why are socialist so fixated on five year plans?”

...because they worked so well in the USSR, that’s why...

</s>


20 posted on 06/03/2011 10:20:50 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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