Skip to comments.Fox: Government considering adding taxes 401Ks
Posted on 04/23/2012 6:14:59 AM PDT by pabianice
Per Stuart Varney, the "Government" is considering ways to tax some or all of your 401K to raise approximately $462M. This would be a new tax on top of whatever taxes you would already owe. Interesting.
this all-out war for 462 million?
They’re just floating this,
but they will try to do anything, as the time grows short,
to keep their balls in the air to milk out as much money and power from the people as possible.
I heard an interview with a guy that cashed out all of his retirement and put it 100% into junk silver coins, anticipating a total economic collapse.
I've been waiting for them to try this for years.
The pool of money in 401(k) and IRA accounts is ginormous. There's no way the looters in D.C. can avoid thinking and dreaming about such a treasure chest.
But they won't make their grab directly. That would draw too much heat.
Instead, they'll tack an amendment onto a "mom-and-apple-pie" type of bill, or a Defense appropriations bill, then we'll wake up one morning with the bill already signed and the trucks backing up to our financial institutions.
What do you think has been propping up the stock markets?
All they have to do to steal all that money is inflate and default the currency.
There’s no reason to take it through taxation or anything else that anyone understands.
Ah... “Rich Dad’s Prophecy”.
Nice crystal ball you have there.
Actually Donna Shalala, Clintons Secretary of HHS, suggested this around 1993. Clinton, who was no political Kamikaze, told to STFU about it, and she did for the next eight years. Romney should tie this to Obama, no matter how tenuously, if he wants to win the whitebread suburbs. Nothing will peal off white collar twits as fast as messin' with their nest eggs.
I saw a similar article over the weekend. Not that I wouldn’t put it past a liberal Democrat to want to seize 401(k) monies, they did not name names in the reference. The did that the the “government” and “Uncle Sam” wanted to get their hands on our 401(k)s. Who, specifically?
Either that, or he will implement by fiat, as he continues inventing “executive privilege”.
Look it cost money to support all the deadbeats scamming Social Security Disability in inner city neighborhoods... That money’s got come from somewhere... why not the savings of responsible people?
“With all of the stay home haters here at FR, Obama will have a House majority too.
Either that, or he will implement by fiat, as he continues inventing executive privilege.
Don’t do it.
The point is to get the camel's nose into the tent.
HF trading and bailout money?
I just buy junk silver. It’s getting bulky, though.
What % return do I get on a government-built bridge?
The problems is that if the Feds want this pot of gold, they will have to go through a minefield. Never mind the political and possible armed resistance to acheive such an aim. If nationalization is seriously considered, the market value of these investments will plunge, so there will be much less to confiscate. There would be a rush to pull out money from these funds and banks in general. Overseas investors would evaporate overnight. A stock market crash would also destabliize the currency, the government would have trouble borrowing money leading to inflation. Markets would be very unstable world wide and civil strife would ensue.
So if the government tries to tamper with these funds even in a small way, all hell will break lose.
It’s $462B. Sorry.