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Posted on 05/04/2010 9:18:17 PM PDT by NY Hockey Mom
Nothing is safe with these people running the show. I warned you back in October of 2008 that the Democrats wanted to do away with 401k accounts, to be replaced by “guaranteed retirement accounts.” Well, they’ve been busy wrecking the economy, passing trillion dollar health care bills and exploding the national debt. That doesn’t mean they’ve given up on their wish list. And it looks like our 401k accounts are right there at the top of that list.
(Excerpt) Read more at lonelyconservative.com ...
I bet they want to put it in 30 year bonds which will completely worthless when the dollar collapses.
I am considering leaving this country for the first time .
Dual Citizenship has its advantages indeed.
Accounts backed by what ??? The toilet paper they put out at the Bureau of Printing & Engraving ???
In a private system, WE decide how much we're going to sock away for our retirements. Whether 10K, 100K or 10mil. In a public system, a bureaucrat will determine how much we should have for our retirement.
We The People don't count anymore.
They can’t even guarantee Social Security!
Anything to get more money for themselves and make you dependent.
“Dual Citizenship has its advantages indeed.”
Maybe you could run for President after you become a “dual Citizen”
I highly recommend that all FReepers read John Ross “Unintended Consequences”. It’s fiction, but a good read, and he posits a way to deal with unresponsive, tyrannical government.
No better way to start a shooting war than take my retirement money.
They are not going to take your 401(k) just give you a guaranteed return on your money through annuitization at retirement (Probably 70 years old). When you die the principal goes to the state. Cash will shore up union and government pensions.
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Dual Citizenship has its advantages indeed.
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The porous border with Mexico has advantages as well. I’ve been participating in caravans from El Paso carrying bags of cash out of the country. Still trying to decide whether Belize or Costa Rica will be the final destination.
save
I think they’ll get at your 401k through income taxes. If you have XX amount of 401k savings, your tax rate is the usual plus YY percent.
They will find a way to “even the retirement field” by penalizing those of us who have saved for retirement, while offering tax breaks to those who have not.
They may even be so bold as to adjust social security payouts according to an individual’s 401k situation.
Nope. Shooting war.
This will never happen
Agreed.
They better bring lunch.
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