[Vince Ferrer]

Tea Party, to the Bat Cave!

[FlingWingFlyer]

Freakin’ communists really piss me off. Their “government” scam cannot survive without stealing somebody else’s money.

[MulberryDraw]

They’ll probably confiscate funds from our retirement accounts but they’ll just spend it. They won’t cut anything. BTW, that 16 trillion is the debt. And you all know they aren’t going to cut that.

[gaijin]

They did it in Argentina, and later in Ireland, too.

Oh, I’m SURE a guy who secretly exported machine-guns to DRUG DEALERS (and is probably bisexual, Muslim, and FOREIGN) would neeeeever do it, too, riiiiiight.....?

Suuuuuuure....

[Jim Noble]

This was inevitable.

I had a nice 401(k), but I took it on a fishing trip and....

[TwelveOfTwenty]

Why don't they just cut spending?

Of course, we know why. They have to pay for all of those entitlements they're buying votes with.

[E. Pluribus Unum]

“I see you have some money there. Give it to me.” —Federal Government

[L,TOWM]

I’m reminded of the British Tory Party MP that asked the question in the 80’s - “So no taxation without representation, that was the problem, right? So, how do you like it WITH representation?”

[driftdiver]

“as one way to prevent government bankruptcy. “

Stop spending would be another way.

[Keflavik76]

Thats a nice 401K plan you got there.

[SES1066]

Speaking as a tax preparer, I’m getting to the point where when my clients ask what about next year, I just say - “That depends upon elections and outcomes and I cannot plan for either!”

[TomGuy]

More tax money = more money for government bailouts (aka, payoffs to friends and benefactors).

Then, they could tax baby piggy banks. After all, those kids don’t really need all those coins and cash.

[sphinx]

“Unlike the current system,” Gale told Congress, “workers’ and firms’ contributions to employer-based 401(k) accounts would no longer be excluded from income and would be subject to taxation, contributions to IRAs would no longer be tax-deductible and any contributions to a 401(k) plan would be treated as taxable income.”

Ah, yes; in the midst of the Obama recession, let us intensify the war on savings and investment. These people are hopeless.

That said, this would essentially turn everything into a Roth. (I'm assuming the tax deferral on earnings remains as is, and that this proposal applies only to the initial contribution.) That's not the end of the world. But the objectionable thing here is the mindless nickel and diming of useful and constructive things in order to kick the can down the road another year or two on the deficit.

NOTHING that is done on the tax side makes any difference unless we cut spending and reform entitlements.

[Conservative Vermont Vet]

I imagine with all the RINO's in the Senate this could pass, but what about the House?

How's about we let the Republicans know that anyone who supports this Big Gubmint Grab can expect NOT to receive any support (and in fact be opposed) next election?

MEANWHILE, the House Republicans need to be sent the same message (like NOW) that the same applies for anyone who supports the Big Brother Snoop on us Black Boxes for new vehicles Bill which will be winding its way there in the near future.

[CPT Clay]

War

[alloysteel]

Cut deficit - stop spending.

There is no way whatsoever that we shall assess enough taxes in any way, shape or manner, that will simultaneously lower the deficit, and continue the same or perhaps even higher level of spending.

Of course, there is the cruelest and most regressive tax of all - to inflate the amount of currency in circulation to such levels that each individual unit of currency will be almost totally worthless. Then, old debts will not be at all onerous.

I will gladly pay you next Tuesday for a hamburger you sell me today.

[Don Corleone]

All your 401K’s are belong to us!

[Publius6961]

Note to all elected incumbent who are looking to tax the working or retired middle class even more, instead of cutting expenses.

You are pissing us off, and we pay most of the government revenue NOW.

Start working on your resumes now. And good luck.

I am too PO'd to type more until later.

[Aria]

So what happens if you have your money offshore...or take other diversionary action...wonder if they can still grab it?

They do this and they’ll destroy the housing market....

Obama hates this country so much he’s turning it into something we’ll all hate - if he gets his way.

[jmax]

For years, the Senate (especially SCHUMER and DURBIN have been trying to figure out a way to tax or get hold of IRA's. Their thoughts have always been: "All those individual accounts add up to millions and billions of $$$ and we can't touch it or tax it until people are old and gray and cash it out. And, we want it now !! It's not fair that we can't have it until they cash it out !!!! "

That's why they want to put all those accounts into a big federal "lock box" (vomit) and M-A-N-A-G-E it for us. I mean, after all, we're not capable of doing it ourselves. They just want to ENSURE even our IRA's are 'safe, sound and protected' when we get old and retired. (Still vomiting) I mean, what's better for us than the old saw..."I'm from the gobment and I'm here to hep'.

I think that may have been another reason for part of the planned Frank/Dobbs-initiated financial collapse....people lost all those billions in not only interest, but the biggie: the PRINCIPAL, from their IRA's. Why worry about a few hundred a year interest, when they can steal the principal?? Congress's plan is: "Go for the throat, baby. Forget the tail, it's just for fun and games!"