Republicans Sound Alarm on Administration Plan to Seize 401(k)s

Human Events ^ | May 4, 2010 | Connie Hair

[dragnet2]

Government and their unions? A relationship made in hell.

[Travis McGee]

Yep. The fast track to socialist ruin and collapse. Ask the Greeks.

[ClearCase_guy]

All we keep hearing is wait until November (a mirage). NOTHING can be done etc etc except "vote them out" (I'm so sick of hearing that because it isn't going to happen).

I agree. When our system is working correctly, we get a safety-valve every 2 years where we can make our feelings known and alter the political landscape, and keep the country on track.

But the system isn't working correctly -- I think the safety-valve is broken. The Democrats want bigger government. The Republicans want the same thing too. In November 2010, the names in Congress will change, but I don't see any way for us to be out of the woods through the electoral process.

I'm convicned that many people feel this way. At some point (I hope) someone will take a stand, and then I think we may find that this country is a powder keg. Our current Cold War against tyranny will become Hot, and many citizens will "go hunting".

[Travis McGee]

No need to come to your door. They will rob you electronically.

[ExSoldier]

For everyone that has skrimped and saved for retirement, allow this and fit yourself for a metal collar and leg irons.

In other words: Stand up and be counted! OR Line up and be numbered!

[Tolerance Sucks Rocks]

PING!

[stevie_d_64]

Remember the old Mission Impossible intro theme???

Greece may be the match that lit the fuse...

Gunshow this weekend...;-)

[PeterPrinciple]

If anyone touches my 401k, which represents a large portion of my life savings,

---

Here is how it will play out. The govt will offer as an option to convert your retirement plan to a govt annuity. You will not be forced. The reality is that we might as well accept it because it will destroy the stock market anyway. Who is going to be buying the stock in your retirement plan that you want to sell?

[Little Ray]

I suspect most of the people in NYC who voted for Obama are unhappy because the Health Care “Reform” bill didn’t have single payer. That is, it wasn’t socialist enough.
I can’t see that translating into Republican Votes.

[cherry]

since last year when I started reading about this heist I have stopped contributing to my 401 and my roth....

why do it?....I too have not had the fancy vehicles, the Ipods, the trips, the vacation homes etc because I thought it best to provide for my own retirement PLUS leave a little something for the kids....

it has hurt the tax situation...

but I am a little too young to pull it out...and that begs the question...where do you put it?...anywhere you have it it could be available to the feds...

[cherry]

they're (we're) going to get it good and hard....

I am just hoping that people will vote out this regime.

[Dead Corpse]

If they want to lick the 3rd rail... So be it. I'm done playing games.

Lines are drawn. Cross one and it's time to roll.

[Jewbacca]

Mine is not a conversion; it was a Roth from the start, so penalties should be less to withdraw, except for the gain.

[Tolerance Sucks Rocks]

The majority of the Republicans are on board with this no matter what they say. They bitch, and then they see how they will personally benefit and then they shut up.

Just like they voted with the Democrats for health care deform? A lot of them may be establishment swine, but I think they deserve a little more credit than you're giving them.

As for Obama voters suffering, I'm with you on that one, although I don't like the idea of my mom, my stepmother, and my aunt being among them.

[cherry]

I remember my brother 30 yrs ago asked his finacial guy about these “free” govt ira’s etc...he told him the govt doesn’t give away anything for free...prophetic....

[sport]

They said that they were going to do that right after obama assumed power. Limbaugh explained how they were going to work it.

[Jewbacca]

Real estate does not transfer over the border easily.

[cookcounty]

" new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options. "

Union boys can't pull up their own pants.

[Renegade]

This would be a legitimate reason to let blood flow !

[DCBryan1]

Man this pisses me off. HENRY BOWMAN WHERE ARE YOU! START FEEDING THE HOGS ALREADY!