Posted on 01/29/2014 12:46:58 PM PST by tcrlaf
President Obama on Tuesday offered up a new kind of "starter" retirement accounts aimed at employees of companies that don't offer such plans.
Obama is calling them the "MyRA" and said he would, by executive order, direct the Treasury Department to create them. Details were scarce Tuesday night, but employees will be able to contribute part of their wages to the savings accounts, which would be backed by the U.S. government.
(Excerpt) Read more at money.cnn.com ...
Where is the constitutional authority for the FedGov to support the indigent with monies extracted at gunpoint from the citizenry?
Where is the constitutional authority for the FedGov to ban ownership of any type of firearm by the citizens?
Where is the constitutional authority for the FedGov to compel banks to lend money to people who cannot repay the loan?
Where is the constitutional authority for the FedGov to pay farmers not to grow crops, and to compel the growing of some crops and prohibit growing others?
Where is the constitutional authority for 90% of what the current FedGov does?
Citizen please control yourself. Whatever we do is for your own good. Now please get back to work so you can pay your taxes.
It is much easier to nationalize?
now that could be
I don’t want him touching ANYthing of mine! Much less my retirement! Sheeeesh!
It’s already bad enough!
There are also many mutual funds that are solely inflation-proof treasuries. I don’t see how Obama’s MyRA is any better than these.”
I don't either. After about ten years or so the stock funds would likely be up a lot more than the bond funds. Not a very good investment for a young person to put their money in.
This is about inequality.
It starts with Income inequality.
Next it will be IRA inequality.
So to set this up everyone in the US (especially Illegals) have one, then he claims the unfairness of IRA inequality and Federalizes all IRA’s and 401Ks so they can be “fairly” dispersed.
There you have it, more Federal cake to redistribute at the expense of those unfair rich people.
Imagine how much fun he could have with that pile of untouched cash?
The jig is up should interest rates go back north of 5%. The annual debt payments at that point will be 700 billion-1.5 trillion. The economy absolutely craters at that point. If they can get 30 million people to contribute a couple thousand dollars each, thats hundreds of billions for bond purchases to keep those rates low.
The bird has two wings.
John has a long mustache.
Consumer bureau data-mining hundreds of millions of consumer credit card accounts, mortgages
And they could put the money in a lock box.
This will be the greatest con job in history. You would have to be a complete and total moron to take part in this.
Blessent mon coeur d’une longueur monotone.
But.......your duty to you’re Govement is to let us use it, have it, steal it, keep it, borrow it if we need to as you’re government.
Exactly.
How do we stop this without an armed revolution? Voting seems to have no effect. Once the politicians from either party (with very few exceptions) get to Washington, they become our “elite masters” to whom the rules no longer apply. They see citizens as a source of votes and revenue - nothing else.
Ping!
Who says it’s going to be their money going into their MyRA?
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