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Huge See, I Told You So from 2008: Democrats Try To Take Your 401(k)
Rush Limbaugh ^ | 11/1/2010 | Rush Limbaugh

Posted on 01/30/2014 5:00:06 AM PST by EBH

RUSH: Well, now, that's fascinating you mention that, because that's the next item up in my Stack of Stuff and I talked about this weeks ago, maybe even months ago when Tom "Dung Heap" Harken proposed this. Now, before you condition Alicia, let me refer to what she's talking about. It's Mark Hemingway in the Washington Examiner: " Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that. On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on 'Retirement (In)security in America.' "Among the proposals discussed was 'Guaranteed Retirement Accounts,' or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their money to the government instead." Now, this has been in the works for a long time and I remember the first time I mentioned this on the program, Alicia, we were deluged with calls from Washington: "No, no, no! You totally misunderstand. Nobody in the Democrat Party is talking about eliminating 401(k)s," and they are.

(Excerpt) Read more at rushlimbaugh.com ...


TOPICS: Extended News; Government; News/Current Events
KEYWORDS: 401k; gra; historical; ira; limbaugh; myra; obamasotu; retirement; rush; rushlive; rushtranscript
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I think this is very important to revisit in light of the new EO signed yesterday by 0bama. Young people are being convinced to get into this new scheme with the old meme...the camel's nose is in the tent with MYRA
1 posted on 01/30/2014 5:00:06 AM PST by EBH
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To: EBH

It’s the Democrat way: Deny deny deny until suddenly it’s implemented, at which point it turns into “so what are you gonna do about it?”


2 posted on 01/30/2014 5:03:20 AM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: EBH

Rush, Rush, Rush. You always claim your are right.

While I am very skeptical about putting money in the Obama-retirement account, it is voluntary and has nothing to do with the rest of our 401K savings plan.

Lets see how many sign up.


3 posted on 01/30/2014 5:04:24 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: EBH
There's no question private retirement plans are targeted by the current WH occupant. It's the second chapter of Obamacare.
4 posted on 01/30/2014 5:04:30 AM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: EBH

“Obama visited a Costco food warehouse in suburban Lanham, Md., where entry-level employees start at $11.50 an hour, to tout his call for a $10.10 minimum wage. At a U.S. Steel Corp. plant outside Pittsburgh, he signed a presidential memorandum to create the “myRA” program, which he told employees would go toward “making sure that after a lifetime of hard work you can retire with some dignity.””

What a maroon. And he admits that without Congressional action the myRA won’t work.


5 posted on 01/30/2014 5:05:33 AM PST by Mercat
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To: sickoflibs

They will use this ‘demand’ to convert and force through this legislation by year’s end. Watch and see.

Retirement “insecurity” has been a back-burner issue.

With the pull back on the printing press and inflation on the horizon...a very well orchestrated plan is being hatched.

Market manipulation at its very best.


6 posted on 01/30/2014 5:08:12 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: Mercat
Something nefarious and luciferian is going on with this "10.10" business.

I've done some looking around. There are a couple of references that this applies to.

First is the left's "jamming" attempt to make us all believe that 10% of the population is homosexual.

But the other is related directly to "global warming mitigation".

10:10 is a global warming mitigation campaign calling for immediate reductions in carbon emissions, 10% at a time. The project aims to demonstrate public support, apply pressure to policymakers to commit to national cuts, and inspire success at the United Nations climate change negotiations.

7 posted on 01/30/2014 5:10:32 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: sickoflibs
While I am very skeptical about putting money in the Obama-retirement account, it is voluntary and has nothing to do with the rest of our 401K savings plan.

You can keep your 401k if you like it. Period.

8 posted on 01/30/2014 5:16:37 AM PST by Principled
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To: MrB

I wonder if a negotiating tactic of tying emission reduction to deficit reduction would get anywhere lol

at a minimum the left would squirm


9 posted on 01/30/2014 5:18:30 AM PST by Principled
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To: sickoflibs

You get to keep the health care plan you like too. Democrats will take care of you. Rush is just paranoid, right?


10 posted on 01/30/2014 5:18:40 AM PST by Wiser now (Socialism does not eliminate poverty, it guarantees it.)
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To: EBH

Stealing our retirements is a good way to test the battlefield skills of older Americans.


11 posted on 01/30/2014 5:20:28 AM PST by G Larry
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To: Principled

Well said. I don’t trust lawyers, and I don’t trust criminals. Most of Congress is BOTH.


12 posted on 01/30/2014 5:22:01 AM PST by Mich Patriot (PITCH BLACK is the new "transparent")
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To: sickoflibs

What are you? 12?

Have you never observed the incrementalism of the left?

The “voluntary” GRAs is just the first step in STEALING YOUR RETIREMENT!


13 posted on 01/30/2014 5:22:38 AM PST by G Larry
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To: G Larry

They must not remember what happened to Dan Rostenkowski.


14 posted on 01/30/2014 5:26:01 AM PST by Lurkina.n.Learnin (This is not just stupid, we're talking Democrat stupid here.)
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To: sickoflibs; EBH

Watch the video on the page. At the end it refers to ownership of stocks - you need to become an LLC to take control of your stocks.

Check your 401K and Retirement Plan! Plans being switched to ALL Government Bonds without Approval. Finding out by Retirement End of Year Statements

http://sherriequestioningall.blogspot.com/2014/01/check-your-401k-and-retirement-plan.html

Quote:
It is happening. The government IS in the process of getting the Trillions in retirement accounts and they will come after all of them. They will do what it takes for their Wall Street buddies and puppet masters.

My research on how stocks and bonds are put into a company’s name that is owned by the Federal Reserve when you purchase them.

Research link
http://sherriequestioningall.blogspot.com/2012/03/own-stocks-and-bonds-think-they-are.html


15 posted on 01/30/2014 5:26:19 AM PST by Whenifhow
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To: Principled; Wiser now; EBH; G Larry; Whenifhow
RE :”You can keep your 401k if you like it. Period. “

Except Obama didn't say that because no one asked him because the Obama retirement piggy bank is completely unrelated to 401Ks.

Obamacare was not passed by exec order Rush, it was passed by congress. The mandates that ended those plans were passed by congress Rush, not exec order.

The idea that Obama is going to issue an order that takes our 401K $$$ is completely ridiculous.

Rush claimed that Mitt and MCcain would beat Obama in landslides too, and a fairness doctrine would be passed to outlaw his show. Fools never learn

16 posted on 01/30/2014 5:29:36 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: sickoflibs

Republicans need to hammer this - what happened to Social Security? You take 15% of our income and now we need more?


17 posted on 01/30/2014 5:34:59 AM PST by tbw2
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To: sickoflibs

“it is voluntary and has nothing to do with the rest of our 401K savings plan.”

Yeah sure. Its voluntary... for now!


18 posted on 01/30/2014 5:35:10 AM PST by Syntyr (Happiness is two at low eight!)
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To: EBH

All the commies have to do is remove tax-protection from the funds in the 401K except for any funds invested in USBonds (3% return).

Voila!


19 posted on 01/30/2014 5:35:48 AM PST by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations: The acronym defines the science.)
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To: sickoflibs

First you do realize what I posted is from 2010. Second, they have been after doing this in some form since before 2008 and the legislation is sitting on a desk in DC...waiting. Third, progressives are just that...progressive and pragmatic.

Are you really going to sit there and let your kids get hooked into this scheme? A scheme that through a little research and awareness is going to bring down the whole idea of having your own retirement security? Having final control over your own money? Having control over your own retirement lifestyle?


20 posted on 01/30/2014 5:36:28 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: Whenifhow; EBH

Even if that was all true it is unrelated to Obama’s piggy bank exec order, but Rush claims Obama’s order is what did it.


21 posted on 01/30/2014 5:36:52 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: sickoflibs

No, this dissertation by Rush is from 2010


22 posted on 01/30/2014 5:38:11 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: tbw2
RE :”Republicans need to hammer this - what happened to Social Security? You take 15% of our income and now we need more?”

I knew that was coming.

SS was passed by congress as a mandatory tax.
Those who believed it was a voluntary pension were fools.

23 posted on 01/30/2014 5:38:45 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: EBH
RE :”Are you really going to sit there and let your kids get hooked into this scheme? “

I will tell them to not sign up for this ,problem solved.

24 posted on 01/30/2014 5:41:00 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: sickoflibs

I think they’re finding out with Obamacare that they haven’t used enough “stick” yet. The carrot is too small for those whom them need to sign up to make it “work”.


25 posted on 01/30/2014 5:43:02 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: sickoflibs

That is the point - that dems are pushing/have pushed a bill to eliminate 401k and implement the “guaranteed retirement account”.

The reference to one of the 0bama lies was just a reference to trusting government. I don’t.

With a bill being pushed to eliminate 401k in favor of gov’t-owned retirement accounts being discussed, how could you think that this is voluntary? Is that like it’s voluntary like paying taxes?


26 posted on 01/30/2014 5:45:52 AM PST by Principled
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To: tbw2
You take 15% of our income and now we need more?

Good idea!

27 posted on 01/30/2014 5:46:40 AM PST by Principled
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To: Principled
RE :”With a bill being pushed to eliminate 401k in favor of gov’t-owned retirement accounts being discussed, how could you think that this is voluntary? Is that like it’s voluntary like paying taxes?”

Being discussed by Rush and his dittos?

I recall Rush claiming Obama would cancel the 2012 election too.

28 posted on 01/30/2014 5:48:22 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: Principled; Wiser now; EBH; G Larry; Whenifhow; tbw2; Syntyr

Don’t sign up for Obama pension account, I wont.

I put the max allowed amount on my 401K to get the tax breaks(deferred)

it saves me a fortune.

Its the next crash that is the problem, and a GOP POTUS didnt stop that last one,.


29 posted on 01/30/2014 5:49:23 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: sickoflibs

oh I think I understand now - you’re talking about distrust of Rush and most on this thread are talking about the dem push to confiscate half of existing private retirement accounts in favor of a required, government mandated retirement account.

There is room for both.


30 posted on 01/30/2014 5:52:16 AM PST by Principled
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To: sickoflibs; Principled; Wiser now; EBH; G Larry

Obamacare was not passed by exec order Rush, it was passed by congress
********************

From this post/ thread - HR 2035
http://www.freerepublic.com/focus/f-bloggers/3116864/posts?page=118#118

To: Rusty0604; All
Go here:
Financial QUESTION: Obama and Democrats Trying To SEIZE Retirement Accounts (IRAs, 401Ks)
http://www.freerepublic.com/focus/news/3053046/posts
H.R. 2035: Automatic IRA Act of 2013; 113th Congress, 2013–2015. Text as of May 16, 2013 ^

That entire thread was ahead of it’s time...
The question begs....
Is this not a variant of what Rep Richard Neal proposed and the nose under the tent for the likes of a Teresa Ghilarducci type ( google her ) to eventually supplant the entire 401k, 457, 403b etc because it isn’t fair or doesn’t work ( in their words...)?

118 posted on Wednesday, January 29, 2014 9:27:01 AM by taildragger


31 posted on 01/30/2014 5:54:04 AM PST by Whenifhow
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To: sickoflibs
I put the max allowed amount on my 401K to get the tax breaks(deferred)

Again, this is what the dem bill wants to outlaw. First, no more tax advantage then you stop having ownership. Then you have to do 5% into the GSA.

So if this were to pass, you would have no more 401k.

32 posted on 01/30/2014 5:54:48 AM PST by Principled
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To: sickoflibs
Its the next crash that is the problem, and a GOP POTUS didnt stop that last one,.

And if you bother to look at the history from 2008 through yesterday's big EO signing, the dems have been scheming for that event and how to get private retirement accounts converted to GRA's. I respect you seem to not like Rush, but to be willfully blind to the democrat strategy regarding your precious 401k is astounding. It is your fortune they are after.

Never let a crisis go to waste...

33 posted on 01/30/2014 5:55:43 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: Mercat

At a U.S. Steel Corp. plant outside Pittsburgh, he signed a presidential memorandum to create the “myRA” program, which he told employees would go toward “making sure that after a lifetime of hard work you can retire with some dignity.””


This is all about the underfunded steelworker (and other) union pension plans.


34 posted on 01/30/2014 5:56:53 AM PST by Atlas Sneezed ("Income Inequality?" Let's start with Washington DC vs. the rest of the nation!)
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To: Principled

You can keep your 401k if you like it. Period.”””

Until Obama & Pelosi seize such funds.

Argentina did so twice since Obama was elected in 2008.

Obama & Pelosi know this & they are scheming to take your 401 (K).


35 posted on 01/30/2014 5:59:54 AM PST by ridesthemiles
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To: Atlas Sneezed

There is a link at the bottom of the Rush page, to something Biden said way back, and Rush discusses how the unions need their pensions funded.


36 posted on 01/30/2014 6:00:31 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: sickoflibs
...but Rush claims Obama’s order is what did it

My 2 cents; what is written, claimed, passed takes on a whole new life through interpretation and precedent - think about how the right to murder the unborn came about.

37 posted on 01/30/2014 6:01:00 AM PST by NativeSon ( Grease the floor with Crisco when I dance the Disco)
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To: G Larry

Reach out and “touch” someone at 600 yards!


38 posted on 01/30/2014 6:02:28 AM PST by Renegade
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To: Whenifhow; Principled; Wiser now; EBH; G Larry

Bohners not putting that bill up for a vote, neither is Reid.


39 posted on 01/30/2014 6:08:50 AM PST by sickoflibs (Obama : 'Any path to US citizenship for illegals HERE is a special path to it ')
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To: G Larry
What are you? 12?

No, not 12, jealous,

40 posted on 01/30/2014 6:16:33 AM PST by Balding_Eagle (Over production, one of the top 5 worries for the American Farmer every year.)
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To: sickoflibs

OK so now you see that it’s a bill we’re talking about. Good!

One could identify 3 steps in passing a bill. Each step taken brings the bill closer to being a law.

1) write the bill - check
2) pass the bill - ???
3) sign the bill - easy for 0bama

3 is a given if 0bama is president. That obviously leaves 1 and 2. 1 is done. So only #2 is preventing it.

Do you think this admin would do it if it could? Why would anyone vote for it?... why would anyone vote for 0bamacare?...why would anyone vote for amnesty?

So yeah I have a valid pport and money in other places. he he he


41 posted on 01/30/2014 6:17:42 AM PST by Principled
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To: EBH

Bkmk


42 posted on 01/30/2014 6:20:48 AM PST by Faith65 (Jesus Christ is my Lord and Savior!)
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To: Eric in the Ozarks
If our the young folk are stupid enough to fall for a thing like this...They DESERVE to lose this country...! It gives "taking candy from a baby" a whole new meaning....

After what we have learned from the past I can't imagine why ANYONE would trust a "sticky butted politicion" to hold on to their life savings...

After all, that's what social security was suppose to be... Right..? And now (according to them) its just another handout program..!!!

But wait..!! I'm sure they'll put it in a "LOCK BOX" and they can get it back whenever they want it...

Yea, right............

43 posted on 01/30/2014 6:23:51 AM PST by unread
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To: unread
When ever I see Tom “Wings Over Hanoi” Harkin’s name associated with legislation, I know it should be avoided.
44 posted on 01/30/2014 6:35:00 AM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: EBH

They want to herd everyone into a central, Federally managed pension fund. This offers several advantages for Dems.

-They can bail out their union buddies by rolling their failed, underfunded pension plans into the larger pool.

-They can use the money to buy Treasuries and run their own unending QE program.

-They can invest the money in the stock market and gain a HUGE amount of leverage and control over corporate America.

-They can use the money to throw an accounting mask over the size of the deficit, to cover for more spending.

-They can achieve levels of redistribution, at least amongst the retired, heretofore unimagined.


45 posted on 01/30/2014 6:40:23 AM PST by Buckeye McFrog
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To: Principled

That is the way it is supposed to work, right?

But, with him signing an EO for what appears to be some innocuous voluntary retirement account, he has given the bureaucracy the ability to start setting things up.

In order to set up the MyRA, much of what is in that bill would need to be put in place, logically?

There is a financial crisis brewing and this truly smacks of government manipulation...one fire at a time.


46 posted on 01/30/2014 6:42:02 AM PST by EBH ( The Day of the Patriot has arrived.)
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To: sickoflibs

All Obama has to do is get the first group to sign up, and then engineer a tanking of the stock market.

Everyone’s 401K will go down, and then he’ll be able to point at the people in the Federal plan and say “see how much smarter they were?”

In February of ‘09 people would have been jumping into this with both feet, I assure you.


47 posted on 01/30/2014 6:42:06 AM PST by Buckeye McFrog
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To: Little Pig; lbryce; SkyPilot; unkus; mazda77; vette6387; Forty-Niner; MamaDearest; freekitty; ...

RATs will be in your bedroom next, wanna bet? Liberals want total power and to control everything you do; cradle to grave with them in control utilizing their database on everyone.


48 posted on 01/30/2014 6:44:52 AM PST by ExTexasRedhead
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To: Whenifhow

Yikes!


49 posted on 01/30/2014 7:00:39 AM PST by CPT Clay (Follow me on Twitter @Clay N TX)
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To: EBH

“If you like your 401(k), you can keep it.”


50 posted on 01/30/2014 7:01:28 AM PST by dfwgator
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