Posted on 06/11/2010 11:50:30 AM PDT by gartrell bibberts
If they try and do this I would be motivated to do something more than just complaining about the socialists in DC. Our DC politicians have already destroyed my retirement savings by F)&$ing Up the investment system. Now they think they can steal it and Federalize it!
Not while I am still breathing!!
And he wants to control the internet. It isn’t going to get any better.
Sooner or later, they’re going try and grab something and draw back a bloody stump. This may be it.
There is something evil going on..that’s for sure. Nothing makes sense anymore. We have a President and administration completely out of control and pushing our country into ruins.
just try it, bastards...
“Do you feel lucky....punk?”
Every one of these outrageous proposals is a call to action for CONSERVATIVES!
Also, from the article “.... Government Retirement Accounts also would prevent workers from owning their retirement savings fully, as they could bequeath only half of their remaining account balances to their heirs.”
Only keeping/bequeathing half of your saved and invested earnings (for starters!!) is a pretty sweet way to collect cash from all the old and infirm they’re going to kill.
I agree with your assessment.
There will be violence and riots in the streets if they try to pull this off.
Unfortunately, I think you’re right. I’ve been feeling this way for over a year now.
How will we know when this is going to happen—will we have timme to take out our 401Ks before they change the current law on retirement accounts?
After I earned my Commission and arrived at my permanent duty station my new Squadron Commander told me I should think of starting an IRA. Since I was an older, prior enlisted type of “butter bar” I had been reading about different savings and retirement plans.
I told my Commander that I did not like the idea of IRAs because the politicians would try to take them one day with the excuse that since we got tax breaks on them the Government owned them. My Commander tagged me as a “boat rocker.”
It has taken 25 years since that time but my statement is now becoming reality.
The gubmint wins either way:
I listened to Mr Laffer’s assessment of a coming crash in Jan ‘11...profits and income being front-loaded this year because the Bush cuts retire in the 1st...which is making the economy artificially robust, now. If they can spook people into cashing out their 401’s, revenue will be up sufficiently to cover the crash...resulting from less reportable income in ‘11... a bit.
If they get the pensions, they'll likely be means-tested. A number of ways to engineer one for you, two for them.
If they don't, they'll scrape what they can now, with fears of a taking.
Not incompetent governance...just sneaky smoke and mirrors, and purposeful theft....if they can get away with it. All they need is votes. And they'll lie to get them.
Anybody who put their money in a 401K instead of doing something important with it should have seen this coming.
Set a hug pile of UNTAXED money in front of the government? not me...
The whole purpose is to avoid the hideous tax laws- and thay can’t let that go on.. there’s a deficit they need (your) money for!
They can just ‘merge’ it into your social security account!! Don’t worry- its still yours- it in your account!
It would be nice in these threads where the “government is asking for comment” if someone knowledgeable would post a link to WHERE, HOW, and TO WHOM such comments should be directed.
Oh yeah, this is a great way to guarantee people have retirement money. Force them to put everything into government bonds that pay less interest than the inflation rate. Yeah, the math sounds about right for a government program. Where do I sign up!
It was posted previously and the comment period expired long ago- here is the link of comments that have been recived
http://www.dol.gov/ebsa/regs/cmt-1210-AB33.html
Those dolts in Washington can see for themselves how much is invested in retirement vehicles by looking at the annual statements for life insurance companies for instance. There are billions and billions of dollars at stake. Any move by the feds to take this money would be placing OUR retirement money at risk...........ya know, kinda like social security. People pay attention!
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If you follow the link and read the article, you find that the deadline for comments was may 3. Apparently the government decided not to widely tell people about the comment period until it was a month expired.
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