Posted on 05/04/2010 7:43:39 AM PDT by ConjunctionJunction
I guess they want a war, then.
We are a free people, and have been pushed, prodded and abused. This is tyranny. If you choose this path, prepare for incarceration, for we will sieze your Ponzi-scheming asses and put you away for life.
People were warned - government strings are attached to the tax deferral, so the government considers those accounts their property until all taxes due are paid.
They have been planning this for a generation - as a last resort, perhaps, but last resort time has arrived.
If the govt attempts to seize 401’s,it will be the call to Arms, the left cannot bear.
As a baby boomer putting off retirement, I absolutely agree.
P.S. This is a really good campaign issue for the Republicans to take up.
It all comes back to that, doesn’t it?
“If they implement X policy, we’ll take up arms.”
Guess they’ll have to take away that choice before they do anything else.
I did not know she was a FReeper!
Uh that was actually 45% and 43% of white seniors. Don't blame this on the seniors.
I never trusted 401k’s nor the government’s promises concerning 401ks and everyone thought I was nutz....
The government has always been and always be, run by corrupt people.
She was also my shopping buddy.
Agreed. Any option that forces me to annuitize part or all of my 401k is EVIL, and it is theft against my daughter’s eventual inheritance. (My understanding is that the gov’t will keep whatever’s left when you die.) Remember the old joke about being buried face-down?
Once again, the lib-f#cks want to punish me for being responsible, and give more of my hard-earned savings to scumbags who do nothing for themselves.
This will be the one that causes deaths. Even people who voted for Obama have their life savings in their 401k’s.
!
Not that there's been a shortage of such issues...
The Dems have been trying to do this for a while, now that they have a supermajority and a president, they may actually do it.
Please read the article below for more details, it will curl your hair:
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs
Nov 4, 2008
http://www.carolinajournal.com/exclusives/dems-target-private-retirement-accounts.html
The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers’ retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.
Ghilarducci’s plan first appeared in a paper for the Economic Policy Institute: Agenda for Shared Prosperity on Nov. 20, 2007, in which she said GRAs will rescue the flawed American retirement income system
http:// www.sharedprosperity.org/bp204/bp204.pdf
I see the Alinsky push by the White House to demonize 401Ks, complete with sob stories and Obama condemning the billions lost by “ordinary folks from inflation and market risk”.
Nothing personal to anyone here, but a lot of folks who think they will fight with arms against seizure, will only be standing there asking nicely, “Please may I have my money.” And if they get 2 cents on the dollar they will still say please for another cent.
It’s just not that easy to pick an appropriate target.
They won’t do it. There would be a national outcry.
And one in Orlando the following weekend!
Bttt
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