Obama Begins Push for New National Retirement System (Occupy Your Savings)

National Seniors Council ^

[Heartlander2]

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

[DesertRhino]

In a very disconnected sense. But SS never confiscated savings accounts that people have built up into 6 figures over decades.
It was a new tax, with a new limited benefit. But nobody ever had legitimate, unquestioned personal accounts drained and titled over to the government.

And as to “who to shoot”, history of such conflicts around the world tells us it would obviously include the office holders at the time who used the law to confiscate it, journalists and pundits who championed it, academics who proposed it, the security forces who work for them. Realistically, some would also target innocents like bank managers, or investment fund advisors who had utterly no say in the matter. It would get nightmarish, but it would happen.

There have been examples in history. It would be shameful if it had to happen here. Hope my kids never inherit such a conflict. But it would be the fault of the marxist attackers, not the fault of those protecting their freedom.

[meyer]

Touch my savings and I’ll kill. It’s that simple.

[DesertRhino]

“No bullets will fly, just as they didn’t when Americans started being molested, groped, and irradiated”

Overzealous security theater for flights is one thing, hardly what anyone would fight to the death over. Confiscation of decades of savings, and the account going to zero and replaced with a voucher is quite another.

[ROLF of the HILL COUNTRY]

Bookmark for later

[Borax Queen]

We let perverts feel up children head to toe and the homosexuals and molestors have free reign. And push them through cancer-machines that the Obambi thugs can’t even operate correctly. If I had any kids, that would be something to die over. Or, as I mentioned in my post, even the most basic, legal, civil disobedience never happened.

But that aside, did anyone fight back when FDR seized the gold?
I mean, I hope you’re right, but I’ve heard everyone talking big for so long, and nothing ever happens. The country’s so feminized and metrosexualized. There are drones to take out people’s houses, we’re under surveillance just about full-time now, and the goobt possesses electronic devices that make even the strongest resistors turn in their guns.

[CatOwner]

"Watch out for a requirement that 401ks and IRAs invest a small amount of money in "safe" investments like treasury bonds in order to keep their tax deferral. Then that small amount will gradually climb over the years until nearly all the retirement money has to be invested in bonds.

This was always my understanding, at least the former. Not so sure about the latter, but I could see it happening.

[meyer]

I don’t think you have much to worry about but IF they did do this there would be little you could do about it. Executive order freezing all IRAs, 401s, defined benefit plans.

They can't freeze flying lead. And there'd be plenty of that.

[Excellence]

https://www.youtube.com/watch?feature=player_embedded&v=s9UD5UEJGEA

Teresa Ghilarducci on a Universal Pension System

21 May 2009.

[USMA '71]

And then what happens? Do you go over and shoot your neighbor who’s a janitor at the local federal building?

Of course not. You become much more selective in the way you respond.

[chrisnj]

Both for us - take all our money out and be fully loaded!

[urbanpovertylawcenter]

I recall reading a report in the 90’s about how the managed funds were really risky because when the boomers begin to retire, these funds would have to sell stocks and other investments to pull money out and the value of the stocks would necessarily fall and only the first out would get their money's worth.

Pyramid anyone?

[LongWayHome]

They don’t have to take our 401ks & 403bs outright ....at first they will tax them a little & then when people get used to it they will start to tax them a lot. There’s trillions of dollars sitting tax free in these funds & one way or another they are going to get their hands on it. And yes republicans are going to go along wih it.

[jbern]

This is really scary. My husband got a letter asking if he wants his retirement money now. The question is where does one put their money if they withdraw it??? This can’t be happening.

[Patriot Babe]

Same I was told to leave it alone right now I have about 7 grand and there is 10% plus another 20% fine leaving me about 2,000. Let us remember taxes will go up starting Jan 1. It is a tough decison right to either cash it out and pay the high fine or leave with the strong change of OVomit confiscating it. God I hate liberals

[Chickensoup]

I dont imagine union funds will be touched. Just the rest of us.

[stevio]

I mentioned this to a co-worker before the election.

[Durbin]

Free retirement. Yay!!!!! (sarcasm)

[Georgia Girl 2]

Well we all knew this was coming.

[Tolerance Sucks Rocks]

This kind of crap is why I have not contributed to my IRAs since June 2010.

Perhaps I shall go further and reinvest the existing amounts in poorly performing options so the government will have as little money to grab as possible.

PING!

[Tolerance Sucks Rocks]

I’d call Obama dumb as a bag of hammers, but hammers are actually USEFUL tools.