DETAILS: THE PLAN TO STEAL YOUR 401(k)

www.RushLimbaugh.com ^ | November 29, 2012 | Rush Limbaugh

[Bloody Sam Roberts]

Looking at Obama through the conventional prism of presidential politics is to totally misunderstand who he is.

And there's the 'money' quote. But even that treads far too lightly.

Obama is NOT trying to ride to the rescue. He IS trying to bury this nation.

I feel real disgust at anyone who says, "Well, he's a decent guy but he was handed a really bad situation. He's doing his best."

The truth is, what Obama was handed was merely a jump start. He is not a decent guy. He is an unctuous reprobate. I will agree he is doing his best. Once you understand what it is he is trying to do.

[meyer]

People will talk about it ad nauseum, but there will not be a shooting war over this.

Wanna bet?!

[newfreep]

Communist goals bump

[Bloody Sam Roberts]

And this is why I'm going to have a hard time feeling sorry for anyone still paying into these things when they get nationalized.

Knowing what is coming, many people are not putting anything into them anymore. But how does one avoid getting their 401k steamrolled? If you have 200k in a 401k and you can only take out a max of $10000 twice per year, pay the taxes...and pay a 10% penalty on top of that...how exactly does one get the dough out of the way of the Gubmint's new freight train?

[MeneMeneTekelUpharsin]

The ant, the grasshopper and the Democrat Communists.

What's holding the market up? The numbers HAVE to be fake on the ticker.

[NTHockey]

If no revolt, then may your chains wear lightly.

[Graewoulf]

Obamanation Communism File.

[Buckeye McFrog]

Sadly, I have to agree with you.

The majority of the sheeple will eventually decide that a “secure, Government guaranteed plan” is preferable to “playing the Wall Street casino”. It’s how they’ve sold the SS lie since 1934.

[chrisser]

See if your 401(k) plan offers a non-hardship early withdrawal.

I checked. No in-service withdrawals unless for hardship, and only then under extreme cases. No loans either.

I can understand the reasoning, if you are under the assumption that 401(k)s will exist in their current form indefinitely, which was the case when the plan was set up.

But it's not looking like that is going to be the case for much longer, and I can't get them to consider revising the plan. I don't think many people have their eyes open to what's coming down the road - maybe they just don't want to see.

[NTHockey]

Abject surrender is cowardice. Oh, we lost the war. Now we must bow down to, as Jamie Foxx said: “Our Lord and Savior, Barack Obama”. BULL S%*T!

We tried to prevent DeathCare from being enacted, playing by the rules.

We responded to the anti-religion dictates of HHS, playing by the rules.

We had an election, playing by the rules.

Silly us, THERE ARE NO RULES. Now we fight, without rules.

[Yosemitest]

Here's 17 minutes 41 seconds of video well worth your time.

Glenn Beck Nails Obama's Gun-Running That Got Amb Stevens Killed

[Roccus]

...how exactly does one get the dough out of the way of the Gubmint's new freight train?

Gonna be very tough to do, especially with the NEW $100 bills coming out next year.

[wbill]

a group of sonsofbitches wants to take 30 years of work and just steal it because they did not make provisions of their own

Sir, you perfectly summed up the Democrat Platform.

[wbill]

"Well, he's a decent guy but he was handed a really bad situation. He's doing his best."

Well, 2 out of 3 ain't bad.

He was handed a bad situation, certainly. And, he's doing his best to make it worse.

Decent guy? Not so much.

[sport]

I am not,0r will not, but I can only answer for me. when that time comes, you ill find me either in my front yard or back yard shot full of holes. I will give the best account that I can. But, never the less, I will not be starved to death in one of obama's or Hillary's camps while they laugh at me.

I believe that it is too late, or soon will be too late to change things peaceably,so that only leaves two choices: Are you going to die on your feet as a free person or on your knees as a slave. It is an individual decision that one will either have to make or it will be made for you. Myself? I made peace with my Maker long ago and there are more things, in my opinion, that are more precious than life. Freedom is one of them.

[SoCal Pubbie]

Help me to understand this, or at least what Ghilarducci is proposing.

First she says all funds already in a 401K are grandfathered in and retain their tax exemption, right? So nothing changes there.

Second, five percent of income will get put into the government retirement plan. So someone making $100,000 will have $5,000 withheld. Then she says the Feds will give that person $600 toward the account. Now does that mean they pay $5,000 and get to keep only $600, or does that mean they have $5,600 at the end of the year? That's a big difference!

Please explain to me how this is supposed to work. If you want also add other scenarios proposed by pols or other “economists.”

Thanks.

[ridesthemiles]

66% of something is better than 100% of nothing.

Take it now....don’t get caught up in the 2013 version of taxes.

Do not put it into another ‘Savings Account or Money Market Account’. I think Obama is going after those as well.

Get a safe & put it there—at your home—until we can get a handle about what to do next.

[Yosemitest]

I called and spoke to some tax CPAs.
They said the same thing.

There are two ways to avoid paying the penalty.
1. Apply and receive a "Hardship Distribution" (CPAs said this one is hard to get)
"it must contain specific language defining what constitutes a distribution on account of an "unforeseeable emergency." "

2. Take a "a 72T, “equally substantial distribution” "

Click on the links above for more detailed information.

[sport]

But if you wait too long, obama will get it all. And when it happens, there will not be time to save it.

I understand tour feelings, but focusing your anger on obama is the wrong thing to do. Direct it to the parasites and traitors that put him in power. why? Because without them obama would only be another turd in the sewer that is Chicago.

[Yosemitest]

I don’t have that many bullets.