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Fiscal Cliff: Why Congress Might Have to Mess with the 401(k)
Time ^
| 11/29/12
| Dan Kadlec
Posted on 11/29/2012 11:20:58 AM PST by Perdogg
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To: Perdogg
Everything including the sacred mortgage deduction is on the table...I bought a house and never benefited from the "sacred mortgage deduction". I suppose if I had bought out of my range it might have been different, but I wonder how many middle class folks actually save anything with it. I would hazard a guess that they are upper-middle-class and/or spending more than would be prudent.
41
posted on
11/29/2012 11:49:09 AM PST
by
trebb
(Allies no longer trust us. Enemies no longer fear us.)
To: Orange1998
"The results will make the Great Depression child play." Perhaps that's the idea.
42
posted on
11/29/2012 11:50:36 AM PST
by
Joe Brower
(The "American People" are no longer capable of self-governance.)
To: Perdogg
And how many times did the Republicans bring this up before the election?
43
posted on
11/29/2012 11:51:24 AM PST
by
qam1
(There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
To: alamogal
There is not enough money to give these people their money back. If everyone rushes to cash out, it could be like the 1939 stock market crash.
44
posted on
11/29/2012 11:52:47 AM PST
by
GeronL
(http://asspos.blogspot.com)
To: DonaldC
What? And not be able to use the tax code to reward and punish people? NEVER?
45
posted on
11/29/2012 11:52:47 AM PST
by
Blood of Tyrants
(Why is the government more concerned about protecting a microbe on Mars than an unborn baby here?)
To: AngelesCrestHighway
Yout darned right about that. Civil War and Rev rolled into one.
Election Fraud.....Tax hikes.....Redistribution....I would say that WAR is well overdue. How will we know it has begun?
To: MrB
47
posted on
11/29/2012 11:53:53 AM PST
by
TurboZamboni
(Looting the future to bribe the present)
To: Perdogg
Once again, the government has perpetrated a fraud. They told us to save in tax-free accounts. That was to give us the fruits of our labor in our old age, so that we wouldn’t be dependent.
Ah, but the marxists couldn’t let that last. All that money out there and OUT OF THEIR CONTROL!
Will the few remaining productive people protest and keep this from happening?
48
posted on
11/29/2012 11:54:43 AM PST
by
I want the USA back
(Fascism is wrong even when practiced by the government.)
To: Perdogg
If 401k accounts are to be frozen, it will probably occur under the pretext of a crisis. But the crisis would have to be a real crisis like a major financial collapse or war. Freezing 401k accunts would likely result in a run by the public on all other accounts including bank accounts, stocks, bonds which would cause a crash and liely a freeze on these accounts as well.
Therefore, if the government is to do something like this, they will need to act suddenly, shut down the internet, censor the media and be ready to impose martial law where needed.
It is more likely that they will try out some very innocous seeming transition to tax deferred treasuries and gradually withdrawal the tax deferred status of 401ks and similar pension plans
49
posted on
11/29/2012 11:54:50 AM PST
by
grumpygresh
(Democrats delenda est; zero sera dans l'enfer bientot)
To: Candor7
THAT revolt is well overdue RIGHT NOW.
Election Fraud...Tax hikes...Redistrubition...Obamacare.
When does the Revolt begin, and how will we know it started?
To: Perdogg
Time runs articles like this - making no mention of the ridiculous out of control government spending that has brought us to this point, only saying that 'congress might have to...' and then, when the mood hits them, run polls indicating how unpopular congress is.
Obama and his fellow socialists skate off scott free.
51
posted on
11/29/2012 11:58:46 AM PST
by
skeeter
To: Perdogg
52
posted on
11/29/2012 12:01:13 PM PST
by
outofsalt
("If History teaches us anything it's that history rarely teaches us anything")
To: Perdogg
“Might Have to Mess with the 401(k)”
I reject their premise. They don’t “have to.” They created the problem on purpose. They knew they would have a big deficit and would use that a justification for seizing money from people who earned it legally.
Face it folks, we live in a communist dictatorship.
53
posted on
11/29/2012 12:01:30 PM PST
by
I want the USA back
(Fascism is wrong even when practiced by the government.)
To: Perdogg
the problem in the USA is NOT a deficiency of taxes, taxation or regulation....
54
posted on
11/29/2012 12:02:55 PM PST
by
mo
(If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
To: TurboZamboni
All I know is that it will sound like a xylophone falling down the stairs...
I crack myself up...
55
posted on
11/29/2012 12:04:14 PM PST
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: Perdogg
I had a great 401(k), but one day on a fishing trip my canoe turned over and....
56
posted on
11/29/2012 12:04:44 PM PST
by
Jim Noble
(Diseases desperate grown are by desperate appliance relieved or not at all.)
To: Perdogg
Eventually Obama will have to dip into your savings accounts when he runs out of money from the “evil rich.”
57
posted on
11/29/2012 12:05:24 PM PST
by
KeyLargo
To: Jim Noble
58
posted on
11/29/2012 12:05:41 PM PST
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: Perdogg
To: MrB; TurboZamboni
"Alan Colmes? Did somebody mention my name?"
60
posted on
11/29/2012 12:10:12 PM PST
by
Travis McGee
(www.EnemiesForeignAndDomestic.com)
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