Skip to comments.Obama Begins Push for New National Retirement System (Occupy Your Savings)
Posted on 11/15/2012 12:47:45 PM PST by Heartlander2
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrations effort to nationalize the nations pension system and to eliminate private retirement accounts including IRAs and 401k plans, NSC is warning.
(Excerpt) Read more at nationalseniorscouncil.org ...
A way to bail out the failed government union pension systems.
I don’t believe this will ever happen in my lifetime but if it does I’ll die keeping them away from my money. And I don’t die easy.
This is just the beginning folks.
Stand by for the ram.
Hey media, minorities, union dues payers, youth . . .
See? We told you so.
If the government actually tries to do this, that's when the bullets start flying.
This was known before the election; it was not a secret. It should be clear to all but the dimmest bulb that the RATs were projecting when they cried out about all those things Romney and the Republicans would do.
Something nasty is afoot.
Oh crap! We are retired and figured we would probably have to give up the SS checks but had planned on living on hubbys retirement check and money from our rent house.
If it wasn’t so tragic, this idea would be laughable.
So Obama thinks the way to fix things isn’t to turn Social Security into a private fund, it’s to take all private funds and turn them into the present Social Security.
Looks like the leading Socialists he’s been talking to, have won the day.
I will take this time to apologize to any rocks I may have offended in the past. This guy isn’t intelligent enough to compare to rocks.
Please forgive my insensitivity.
Bammy needs and wants a wealth tax, ‘cept for the political class.
I’ve been predicting 401(k) conversions since ObamaCare was passed.
I thought we already had one. They call it social security.
There is a couple of ways to protect yourself, one is withdraw all your funds NOW, the other involves firearms.
If this is not the Thomas Jefferson line in the sand then we have no business being Americans.
This without a doubt will be the last straw they pile on my back.
He said he would foundationaly change America...
no bullets will fly because they’ll implement it like Obamacare and most other things marxist do...incrementally.
the frogs in the slow boiling pot.
By the time the media cover it, if they ever did, itll be done.
How dare you have control of your own finances.
It’s time to let 0bama have your money. You can’t be trusted with it. He’ll take real good care of it, and of you.
The Obama Administration has a point. We do need to be “secure” in our later years, and there is a “social” interest in insuring that “security”, so I don’t see anything that could possibly go wrong. We could fund it via a payroll tax that could be split between the worker and the employer. That money would be completely separate from other government spending. Why haven’t they already tried this?!?!
Inability to detect sarcasm is a warning sign for dementia, FYI.
Because it's a big pile of money...and don't you know...the Fed's can "manage it better" than you.
They will tell you they will give you a guaranteed 2, 3, or 4%...and THEY will take your money...and spend it as they please.
IT'S BEEN TALKED ABOUT BY OUR "LEADERS" IN D.C.
Yeah....sounds crazy...but it's been proposed!!!!~
On 2nd thought the secession movement may not be a bad idea after all....
fine, as long as our ‘public servants’ all have the same system as us.
I’d go ahead and die, but I can’t afford the death tax.
...and what better way to make people think this is a good idea than to crash the markets so everyone thinks the market is too unstable for retirement funds....
Did Obama mention this in his campaign? Do his union buddies know about this? What is Social Security? I guess the people who make all the big bucks in DC need to do something, so coming up with other ways to take money from citizens is what they are there to do. Ugh.
I remember when a very intelligent friend from my youth scoffed at me for calling Obama a communist when he was first elected.
If this ever got as far as serious debate in the Congress (which it won’t). The stock market would immediately plunge 10,000 points as everybody emptied their IRA/401-K. Anybody with a lick of sense would rather take the IRS early withdrawal penalty and save some of their money than to lose it all.
I cannot find the date of this meeting. If it is held at the Treasury Building, does that mean it was sanctioned by the Treasury?
If 401k’s are confiscated. Violence is justified, just as it would be against a stickup man at an ATM. They are playing with fire. People tolerate general attacks on prosperity like more taxes, and bad energy policies.
But an outright theft of savings will result in someone resorting to direct violence against the political perpetrators.
And no trade of getting a social security style pension at the end will protect them. When they confiscate in return for a secure pension, the balance upon death will not be passed onto heirs. The government will keep the change when you die.
The question is when to pull your cash out and take the big hit.
the frogs in the slow boiling pot.
Watch out for a requirement that 401ks and IRAs invest a small amount of money in "safe" investments like treasury bonds in order to keep their tax deferral. Then that small amount will gradually climb over the years until nearly all the retirement money has to be invested in bonds.
No tears shed here.
It might be time for some billboards, with something to the effect of, “If you take my retirement account, YOU WON’T LIVE LONG ENOUGH TO SPEND IT”. At that point it wil be right and proper to bring those thieves down to room temperature.
The Rats held a public hearing on this in Dec, 2008 - only a month after his first immaculation.
They are coming for our savings - the ONLY way to get enough money to do what they really want.
It’s coming, folks!
Even the 3 blind mice, Boehner, McConnell and Cantor can figure out how to win this fight . . .
They try this, and it will be CWII.
And here I thought that the Death Panels were going to eliminate the need for Social Security.
I think withdrawing the finds now is a fast way to hand half of it straight over to Obama, so that’s not an option in practical terms.
I think it’s an easy prediction. Only a blind man can’t see that there is a marxist revolution intent on confiscating everything. It has no intention to stop for anything.
But there is also a very big minority of Americans, at least 40% who are being pushed very deep into a corner. They are not looking for a fight, and keep stepping deeper into the corner. hoping to be finally left alone. But there is not much further to go into the corner. These people DO have a point beyond which they will lash out and attack their tormenters.
One side is on the attack, and the other is nearly out of ways to avoid them. We all saw this 100 times in the schoolyard. A confrontation is coming. Lord hope it’s political, but that option is now vanishing quickly due to systemic voter fraud.
When the ballot box is gone, there is only one option.
I don’t think you have much to worry about but IF they did do this there would be little you could do about it. Executive order freezing all IRAs, 401s, defined benefit plans. Work out the details after that while you (all of us) wondered why we didn’t see it coming. I do think that would be the last straw for a bunch of people who scrimped and saved over a life time for a comfortable retirement. The gauntlet would be thrown down.
WTF is this? Social Security 2.0?!!!!
You get your info from your retirement fund and you see the “government” has taken control and has divided it up among the people. Your neighbor, who’s retirement plan was a couple of scratch offs and a quick pick, will see a retirement fund for the first time in his life and that will make him happy.
So, do you shoot at the “government”? Or do you shoot at the happy neighbor?
Lots of bluster on here, but the reality is this stuff is 99% held in electronic accounts that could be frozen without warning.
And then what happens? Do you go over and shoot your neighbor who’s a janitor at the local federal building?
1. Soap box
2. Ballot box
3. Ammo box
But an outright theft of savings ..... isn’t that what happened to SS?