There is a big difference between reducing or eliminating the 401(k) tax break and actually confiscating the assets in the 401(k).
How about annuities? Will the Dems put JG Wentworth out of business and confiscate those too?
Maybe the lazy taxpayer class will finally bestir itself when the IRS takes over their 401K accounts.....but not during football season, or baseball season, or basketball season.......
Answer: NO!!!
Don’t you want your savings stolen to buy cell phones for illegal aliens and welfare cheats?
They are going to take everything once they create 30 million new democrats and put super majorities in to complete the revolution.
And half the people will sit around not wanting to be a “racist”, blaming Bush, and hoping Obama spends their money more wisely than they could have.
I can’t even say what I think the reaction of the American people should be.
If John Boehner had a brain in his head, he would pull out of the budget talks, give every Republican congressman copies of these articles, and send them all over the country waving that red flag and declaring THIS is what Obama and the democrats really want, and THIS is why spending must be cut and NOW!
I said if.
All three rabidly marxist mags all at once? obviously the administration told them what to say. Obviously the mags all agree with seizure of honestly-earned assets.
Obviously, the USA is now a communist country.
When your friends complain of the seizure, are you going to ask if they voted democrat?
Actually forget that. Half of the country has its head up its a$$, and won’t know or care.
either way they win.
you end your 401k to save it from government, you get taxed on it and a 10% penalty. they may not do anything yet take a big chunk of it.
you don’t and they actually may confiscate it.
My 401K is not safe from the Democrats.
The current balance in my checking account is not safe from the Democrats.
The 37 cents in my left-front pocket is not safe from the Democrats.
The half-bottle of Heinz Ketchup at home in my refrigerator is not safe from the Democrats.
My car is not safe from the Democrats
My house is not safe from the Democrats
If we ever read through the entire Obamacare bill I’d probably find most of my vital organs aren’t safe from the Democrats.
They are like a plague of locusts, taking and devouring what they will.
No.
Nothing you own is safe from the democrats. They don't believe in private property rights. They are communists.
Nothing you own is safe from the democrats. They don't believe in private property rights. They are communists.
Nothing you own is safe from the democrats. They don't believe in private property rights. They are communists.
Periodically, you hear about how low the US savings rate is, and then how Social Security is going broke. If the government were smart (they aren’t - just look at your average Federal Worker) they would figure out that the solution could be to allow people to save even more tax free, so that WHEN social security dries up, people will have something to live on and won’t have to go on the dole.
Wasn’t it Hillary who wanted to hit all 401k’s with like a 15% tax on the total amount once, and then of course continue to tax you as you took the money out. So the gov’mint got a free 15% hit on your earnings while it was earning.
A few may need some high-speed lead poisoning to get across the idea that their theft isn't a good career move.
I guess I’m the only one here who thinks credits should be eliminated before deductions.
Yes, and the idiots are discussing a “wealth tax” too.
There’ll be a whole lot of folks yanked off of their thrones, before these things happen.
Might be surprised at what you find floating in the water at the next tea party.
401ks are racist. /s
This includes stock certificates, bonds, bank accounts, and, in the end, paper fiat money.
There were two huge financial developments last week that got little play in the US press. Mark Carney, head of the Bank of Canada (Canada's central bank) was tapped to head the Bank of England. Carney is a superstar central banker, but it is highly unusual for a reserve currency central bank to appoint a foreign national as its head. Imagine a foreign national being appointed head of the Federal Reserve. Either the B of E is in real trouble or they expect a lot of problems dead ahead, or both. In any case, this is the first time in their 300+ year history that a foreign national has been appointed to head it.
Also last week, the Australian and Canadian dollars have been approved as "reserve currencies". They join the august ranks of the US dollar, the Japanese yen, the Swiss franc, the Euro, and the UK pound.