Government Sets Its Sights - Redistribute the Wealth of America’s Older Citizens”

SHTF Plan ^ | 11-20-2012 | Mac Slavo

[andy58-in-nh]

I will consider any movement on the part of the Federal government to seize privately-held American retirement assets as a casus belli.

[LibLieSlayer]

Government employees have to live amongst us... they may experience short life spans if they try to steal our life’s hard earned retirement funds.

LLS

[doorgunner69]

The problem is selecting and finding targets, not the will to do it.

[traditional1]

If you had no idea this would be coming, you may as well hve been VOTING for Democrats.

Labor Unions in the PUBLIC SECTOR know that the public (those who pay taxes) are getting VERY sick and tired of all the bloated payrolls, over-paid un-productive Union members, money-laundering of Dues to elect Democrats and get even MORE benefits, wages, perks, etc. APPROVED, and now are so under-funded that they can't count on future Pensions. To assure the Union Members and the Union Bosses even MORE money available, they basically will rob all Americans who have saved their money for their OWN Retirements, and put THEM on the Public Dole.

Now, they are whining because parasitic-inner-city-tribal members, Illegals (who soon will be granted Amnesty), and ALL Union Members can count on voting Democrat forever, because they will recieve Pensions (that's what they're calling them), which are just extended Welfare into their Senior years, while they saved NOTHING and contributed NOTHING to the "Pension" in the first place.

I guess they figure that Senior Citizens won't rebel with armed confrontation, and it's a "Go".

You wonder WHY the Government Departments have been stockpiling ammunition now????

[LibLieSlayer]

NO ONE has felt the pain of Zerocare yet... but they will. Stealing money from one’s account is pain that is instant and angering.

LLS

[MrB]

“How long do you have to wait to re-hire me if you fire me?”

[MrB]

10% confiscation off the top,
and the entire withdrawal is taxed at your highest tax rate.

(note, they tax you on the 10% that they take)

[Bloody Sam Roberts]

I know for fact that hardship withdrawals are possible in mine. Not sure about complete withdrawal. I would rather use the contributions that go to my 401k to pay down other debt. I’m hoping it won’t be overly complicated.

[DownInFlames]

When this happens, you will be powerless. It’s all electronic and will happen overnight. Take the 20% hit. 80% is more than zero.

[TheRhinelander]

Not convinced this will happen. It cannot happen by executive order and would have ti pass the House. That will not happen.

If it does I will withdraw my funds and take the hit.

[MrB]

If you want a scary read,

read “One Hour Meltdown”.
http://poorrichards-blog.blogspot.com/2012/11/the-one-hour-meltdown.html

If the banks go “holiday”, all electronic transactions are shut off INSTANTLY. Without cash, “no one can buy or sell”.

And those who cause the whole mess will have conveniently disappeared before anyone notices.

[roadcat]

You save all your life and put money in government mandated “lock box” only to have government thieves take away your and your children's future also.

I had a discussion with a liberal friend a few days ago. She's in her late fifties and only now is looking into starting a retirement plan, with about six working years left. I tried to explain that my wife and I started our retirement planning in our twenties, and slowly built our nestegg over decades. Then I tried to explain that a 401K with only six years put in is not going to go very far, and that when she cashes in, the government takes a tax bite. She blames everyone else for her situation - her bosses, her co-workers, etc., for not telling her these things long ago. Yet I know she probably was told but just does not listen, and did not take care of her own needs. Typical liberal.

She may have the last laugh if Obama gets his way and takes my retirement money to redistribute to her, when I intended it to help my children and grandchildren (not to mention providing for my care in later years). I'm at my wit's end trying to figure out what to do to protect my nest-egg from government thieves.

[Mouton]

As McCarthy used to say: I have a list of communists.

I am over the penalty age so as soon as this looks like it is a for sure thing, I will just withdraw the funds and put them in tax accounts or other investments. Aside from the income tax on the taxable IRAs, they are not going to get one dime more and none of the principal.

In our lifetime, our nation has turned from one which was ethical and equitable into one that is predatory and immoral. I don’t know how else to put it. Perhaps I should have gone to Canada in 68 as some of those running the place obviously did.

[PMAS]

*

[chrisser]

“How long do you have to wait to re-hire me if you fire me?”

I actually talked to the finance guy about this - he's done it at other companies.

Basically, have to be fired/laid off, then apply for and receive unemployment (and, of course, there's then a cost to the company, both in paperwork and unemployment costs). That essentially verifies you're out of service. Then you pull the money out, and the company (presumably) rehires you.

Of course, you can't have anything in writing to insure the company will hire you back, so there's definitely a degree of trust involved. Plus, since it's the company who created the 401(k) with the restrictions, there's not a whole lot of incentive for them to go through all this in order to get around their own policy.

[drypowder]

FYI: The great Bill Clinton the impeached was the first democrap to suggest that the federal government should have access to America’s private retirement accounts because the government will utilize that money more effectively.

[98ZJ USMC]

That might be their idea, at least for a few high-profile examples to scare the rest of the sheep.

Yep. That's the idea. If you're talking about armed resistance, you have to start looking at a loose confederation of like minded people. Difficult, to not be infiltrated. You can't do this alone. They will come after you with a great deal of firepower. Riots and armed violence in the cities does not concern me in the slightest. In fact, I welcome it. To do this you are going to need local law enforcement on your side and sympathetic acquaintances in the National Guard. The best case scenario is succession. Pull your money in cash or bank check and move to one of the seceding states. Of course, you'll probably lose your home.

[jagusafr]

Because it worked so well for Argentina, don’cha know...

Black market’s loving this!

[Jude in WV]

What most people don’t realize is they have already been doing this under the radar.
The feds lowered the interest rate so low, then allowed banks into the the securities business. When old folks went to the bank and were disappointed with little or no earnings on their savings, they were deceived into “investing”.
They lost a lot of their savings while Nancy Pelosi gained 60 million over the last 4 years.
I was an accountant for over 30 years. I’ve been seeing this for over 20 years. I have told off local bankers when my clients were cheated.
In 1987, I took an advanced accounting course from a CPA. He said to keep our eyes open, it would not be long before the government and unions began to rob the pension plans.
This is not for the poor people. Poor and middle class folks barely get by....they do not invest.
Savvy investors are the only ones gaining from this corruption. The stock market is no more than an electronic casino. The average person doesn’t stand a chance there.

[SIDENET]

Let me clear.

For the record, I'm merely observing and commenting, and exercising my First Amendment rights as a concerned, and conservative American citizen. I'm not advocating any course of action whatsoever.

Respectfully,

SIDENET