bfl
Who will stop them? The republicans won’t.
Is there anything they have shown to be unable to do?
“Can they really steal our IRAs and 401Ks ?”
Of course they can, and they will; not the first country to suffer from this ‘progressive’ idea.
Only if they don’t value family, property and themselves.
And to the NSA trolls, FU.
They can steal them because they have the firepower.
That’s what the Civil War was really about: do the lawyers in Washington have the right to kill anyone who doesn’t obey them.
they can always increase the tax on them to 95%
The mile high stack of blank Executive Order chits on his desk guarantees he can do most anything he wants.
He went downtown and started shooting at the town hall.
That was over a crappy yard filled with junk. If the government starts grabbing IRAs and 401Ks -- and don't get me wrong, I pretty expect them to try it -- but when they do, there really will be blood in the streets. That's Lexington Green all over. Some lines cannot be crossed without repercussions.
Teresa Ghilarducci Wants to Confiscate Your IRA, 401k & Pension
http://www.youtube.com/watch?feature=player_embedded&v=s9UD5UEJGEA
‘(A) which covers each qualifying employee of the covered employer for the calendar year,
‘(B) under which a qualifying employee--
‘(i) may elect--
‘(I) to contribute to an individual retirement plan, or to purchase a qualified retirement bond on behalf of the employee, by having the employer deposit payroll deduction amounts or make other periodic direct deposits (including electronic payments) to the plan or to be invested in retirement bonds (whether to the Secretary of the Treasury or to a designated trustee or other agent for that purpose), or
‘(II) to have such payments paid to the employee directly in cash,
‘(ii) is treated as having made the election under clause (i)(I) in the amount specified in paragraph (4) until the individual specifically elects not to have such contributions or purchases made (or specifically elects to have such contributions or purchases made at a different percentage or in a different amount), and
[automatic opt-in until employee opts out. -ed]
‘(iii) may elect to modify the manner in which such amounts are invested for such year,
‘(C) which meets the administrative requirements of paragraph (2), including the notice requirement of paragraph (2)(C), and
‘(D) which does not charge unreasonable additional fees solely on the basis that the balance in an automatic IRA is small.
H.R. 2167 (110th): Automatic IRA Act of 2007
H.R. 6099 (111th): Automatic IRA Act of 2010
H.R. 4049 (112th): Automatic IRA Act of 2012
Trying but continuing to fail
Can they really steal our IRAs and 401Ks ?
__________________________________________________________
For many years business’s would overcharge their customers on any number of items. They counted on MOST of them Not discovering these charges. When they did, it was a customer service issue and the problem or overcharge was corrected.
That is one form of theft.
The wholesale taking of someones money from their retirement accounts is brazen theft.
Look at what just happened in Cypress.
EDITORIAL: Grand theft Cyprus
Obama eyes a similar raid on 401(k) accounts
http://www.washingtontimes.com/news/2013/apr/18/grand-theft-cyprus/
I think they will push for a form of “transaction” tax, and broaden the definition of transaction to make this theft less noticeable.
I scanned this document an a term came up over and over, a “retirement bond”. Never heard of it, and I am well versed in this arena, I smell a rat here....
Expect Boehner to say that there is no way the House will take up this bill, and then start working on “components” of it, with Cantor carrying the water for him.
They’ve been doing it already for years. Monetary policy, easy credit, monetization, QEI, QEII, QEInfinity....By whatever name you want to call it, they’ve been devaluing the currency and robbing our accounts of their purchasing power for years. It’s just a more stealthy and gradual way to do it than outright confiscation. But the end effect is the same.
May I post your comments to my Facebook?
They are going to find a way to tax the tax-free income that was promised when 401ks & IRAS were set-up. Bet on it. There’s tens of billions of dollars sitting around in these accounts as the baby-boomers age. Expect the tax grab once Hillary steamrolls the Loser Jeb or fat-boy Christie in 2016. God help us all.
They will take it.
It could be 20 years from now, but anyone who thinks that any government on Earth will permit these type of retirement plans to bear fruit is ignorant of the history of man, and the greed of government.