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 ...
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?
I’ve known this is coming for years. No bullets will fly, just as they didn’t when Americans started being molested, groped, and irradiated on a daily basis, by affirmative action thugs who couldn’t even get a job at an ice cream parlor. The sheep just keep taking it, not even any civil disobedience like everyone in line sitting down at the same time.
I can’t withdraw mine unless I leave my job.
However, does this mean that all those goobt worker moochers who only worked 20 years, retired at age 50, and now sock it in (or double dip or more) will all be pooled in with us commoners? That might not be a bad deal. An former friend of mine retired from the NPS in SF, regular park ranger. She makes over 35K a year and is only 52. Yes, I chose the wrong route going private sector, apparently.
I never thought that Obamacare would happen. The minute we say this type of thing can’t happen, it does with this government.
Always knew that the government was not going to let trillions of dollars pass tax free in 401ks & 403bs to the middle & upper middle class.
What out for this Teresa Ghilarducci........
Their idea of a new retirement system: you report to disintegration chambers upon retirement.
Are you kidding? People would pull all their money out of everything.
More importantly he is metaphorically pissing on the grave of Jack Kemp and Bill Roth who gave us 401k's IRA's and the Roth IRA's....
How dare we be empowered and independent since 1982, he is here to change all that, we have to join his collective and be assimilated...
I work my whole life, saving a much larger percentage of my income than the average bear. And in my planning I “assume” that my company pension and SS would be “marginally viable.” Now they want to take MY money because that lazy bastard down the road wants his 60 inch TV and cottage in New Hampshire?
F that. I will take my 401 k out, pay the fine, and bury the gold in the back yard.
Playing by the rules is a suckers game.