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Obama Begins Push to Confiscate IRAs & 401ks
Silver Doctors ^ | November 16, 2012 | The Doc

Posted on 11/16/2012 11:45:13 PM PST by rocksandbroncs

click here to read article


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To: DH; All

....anyone know how the Roth is affected....thanks in advance


41 posted on 11/17/2012 4:08:00 AM PST by spokeshave (The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
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To: wastoute

He won’t need to rig reality. If you reach a certain level of stupidity on the part of the people, class warfare talk can shift enough of the levers of power (he’s already stacked the lower levels of the judiciary) such as to permit him to stop rigging and start using force, i.e., to stop the Alinsky-ite subterfuges and just nakedly seize power.


42 posted on 11/17/2012 4:10:19 AM PST by Houghton M.
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To: greeneyes

I think you might add that getting .10 % interest on your CD’s is not conducive to saving either.


43 posted on 11/17/2012 4:25:01 AM PST by Venturer
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To: spokeshave
....anyone know how the Roth is affected....thanks in advance

http://www.irs.gov/publications/p590/ch02.html

44 posted on 11/17/2012 4:25:23 AM PST by EVO X
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To: rocksandbroncs

I don’t see them taking existing 401k’s or IRA’s. If it’s attempted, a uprising would likely be quite successful because those that would be enforcing such a takeover have them too, unless they exempt federal employee 401K’s.


45 posted on 11/17/2012 4:26:13 AM PST by redfreedom (The spineless RINO's have made themselves irrelevent and lost the country for us.)
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To: CatOwner
People will rise up, the same people that get all their news from Pravda, the same people that put O back in office?
Nay they won't rise up, they will be told its’ good for the them, elderly & children. They will be told they are racist if they don't agree with it. They will be told they are greedy etc etc etc.
46 posted on 11/17/2012 4:31:50 AM PST by Strutt9
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To: CatOwner
People will rise up, the same people that get all their news from Pravda, the same people that put O back in office?
Nay they won't rise up, they will be told its’ good for the them, elderly & children. They will be told they are racist if they don't agree with it. They will be told they are greedy etc etc etc.
47 posted on 11/17/2012 4:32:05 AM PST by Strutt9
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To: Obama_Is_Sabotaging_America
Welcome to Omerika!
48 posted on 11/17/2012 4:32:46 AM PST by Darteaus94025
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To: wastoute
PMs will only drop when there is someplace BETTER to put the resource.

If we have another market sell off, nothing is immune. Gold rebounded nicely from the last one, but that is no guarantee of future behavior..

49 posted on 11/17/2012 4:34:22 AM PST by EVO X
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To: rocksandbroncs

Link doesn’t work for me.


50 posted on 11/17/2012 4:37:39 AM PST by airborne (MY HEROES DON'T WEAR CAPES. MY HEROES WEAR DOG TAGS ! ! !)
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To: CatOwner

The OP couldn’t even put it in “Bloggers”. It should be pulled IMO.


51 posted on 11/17/2012 4:39:24 AM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: rocksandbroncs

It’s hard to imagine this happening, IMO, because dems have all their savings in 401ks too. Not much would surprise me from the communist bastard occupier though. If this happens, all who support it should swing from a rope. Yep, dead freakin serious.


52 posted on 11/17/2012 4:41:16 AM PST by Mich Patriot (PITCH BLACK is the new "transparent")
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To: rocksandbroncs

Nothing unexpected. This is what happens when an ignorant electorate vote for Marxists. Confiscation of property is on the front page.


53 posted on 11/17/2012 4:45:37 AM PST by kenmcg (scapegoat)
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To: rocksandbroncs

Obama Begins Push for New National Retirement System

http://www.nationalseniorscouncil.org/index.php?option=com_content&view=article&id=89%3Aobama-begins-push-for-new-national-retirement-system&catid=34%3Asocial-security&Itemid=62


54 posted on 11/17/2012 4:51:11 AM PST by Library Lady
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To: rocksandbroncs

NOBODY SHOULD PANIC ON THIS AND DO STUPID THINGS LIKE IMMEDIATELY CASHING IN ALL THEIR IRAS & 401KS—AND TAKING THE IMMEDIATE & LARGE TAX HIT. If you are in a position to do so, you can begin (possibly gradually) to move any existing retirement funds from “traditional IRAs” to Roth IRAs. If your tax & financial situation allows it, try to put any new IRA contributions directly into Roth IRAs. If your 401K plan has a Roth 401K component, go that route for new contributions or as big of a percentage of your new contributions as you can. If your 401K plan doesn’t currently have a Roth component, lobby your employer to have one established—he/she could benefit also.


55 posted on 11/17/2012 4:55:26 AM PST by House Atreides
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To: A.A. Cunningham
Executive orders are subject to judicial review and can be declared unconstitutional.

By the same court that saved Obamacare?

56 posted on 11/17/2012 4:57:48 AM PST by grobdriver
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To: cynwoody
Has to pass the House.

O RLY?

/ONLY HALF JOKING

57 posted on 11/17/2012 4:57:52 AM PST by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: fella
Not with an Executive Order...

All tax laws and tax policies originate in the House. No President can issue an Executive Order affecting tax policy. If one could, what would stop him from issuing an Order to make the current tax rates top out at either 65% or 15% depending on who was President?

Obama cannot carry out this scheme without a compliant Congress.

58 posted on 11/17/2012 4:58:15 AM PST by Tonytitan
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To: AllAmericanGirl44
If you read the legislative history…of the 401(k), it’s clear this was a tax break for the folks who made lots and lots of money.

This dingbat really believes this?

The U.S. law regarding 401(k) plans actually prevents such plans from operating this way. For one thing, the total amount of annual contributions is capped for any individual participant in a plan. Also, employers have to pass a "income test" for their 401(k) plans, under which highly-compensated employees lose the tax deductibility of their contributions if the company doesn't have enough low-wage and middle-income participants in the plan.

The second point is an interesting one because it drives some companies to be very aggressive in encouraging participation in their 401(k) plans. Many companies now have a process in place whereby new employees are automatically enrolled in the plan with some nominal contribution (4% or 5%) unless the employee opts out.

59 posted on 11/17/2012 4:59:25 AM PST by Alberta's Child ("I am the master of my fate ... I am the captain of my soul.")
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To: fella

If the President changes rules to adversely affect the people, the people can change rules and adversely affect the President.

If rules change, then rules can change


60 posted on 11/17/2012 5:05:27 AM PST by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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