This begs the question.. Anyone think the Socialists will hijack IRA’s in the next four years?
Probably.... or tax them into oblivion.
No doubt about it. They will rape and plunder anything they can get their hands on.
Quoting Ms. Palin...... "You betcha"
Dims looked at in 2008. You can bet that this will be coming up again. Check the link
I think they will here. I am begging my children to get out of their government ruled accounts and have personal accounts.
“This begs the question.. Anyone think the Socialists will hijack IRA’s in the next four years?”
Interesting that you mention that.
I just had lunch today with a friend, and I gave him my take on how the left will go after IRA’s and 401k’s.
It would just be too blatant for the ‘rats to outright nationalize retirement accounts (wasn’t this or something very similar just done down Argentina’ way?).
No, they’re going to let you “keep” your retirement accounts.
With a few minor “modifications”, of course.
I predict the ‘rats are going to do the following:
1. An “assets tax” on retirement wealth. The rationale will be that the government is hamstrung from dealing with the debt problems we face because the revenue it would otherwise raise on income has been “sheltered” in retirement accounts. Thus, the government will impose a small “assets tax” of, say, 3 to 4% annually on all funds held within 401k and IRA accounts. Individuals will be required to file and pay based on 1099’s submitted by banks and financial institutions, the same as is done now with such things as interest and dividends. The tax will be low — for now. This will not preclude the tax you pay when you withdraw from your account, which will be considered “income” (as it is under current law). So why not just withdraw it all?
2. To “prevent sudden financial upheavals”, the government will impose a yearly limit on individual withdrawals from 401k’s and IRA accounts. Let’s say they limit you to $10k-15k annually. This will ensure that there remains a large cache of savings to guarantee that the “assets tax” (see above) will continue to produce.
I should be working for the dems, hehe.
But you begged to be answered, so I did.
You can’t beat your enemy unless you can think “like him” first, and then OUTthink him.