Posted on 01/06/2021 6:01:32 AM PST by DIRTYSECRET
Not for long. The debt is $30 trillion and there's $33 trillion in our plans. If we couldn't win Georgia Trump's stolen argument is without air. The rats will have 2 years to do their thing. I'm too old to go out and protest or send money to the Kelly Loffers out there and the younger generation is all woke. They will proudly take us out.
But..... 401K streams of cash every week are like welfare to investment fund managers. If the gov touches 401Ks the contributions will stop immediately. That money funds big and small corporations expansion, growth, and new enterprises. It’s very steady and very stable. I really can’t see even libtards being stupid enough to cut off 50% of the goose and stomp on the egg?
Your 401(k) is going to be taxed and confiscated.
Are you a 401(k) millionaire? You are rich, and will be eaten.
If you want to sit around and panic over nothing, I can’t stop you, but I can guarantee you 100% they will never “take” our 401k’s and they will never get rid of social security. They might print dollars to the moon and make our currency worthless though.
“If one could prognosticate future economic conditions accurately, one could be rich indeed.”
Absolutely! And given my limited knowledge, to me, the stock market does look like a casino. No one knows what it will do next, and events that you’d think would drive it up, drive it down, and vice versa. Then there are the talking heads, making up reasons to explain what just happened.
But if you just give all your money to Ken Fisher, (or insert some other shill name), he’ll make you wealthy!
Amen!
“But..... 401K streams of cash every week are like welfare to investment fund managers. If the gov touches 401Ks the contributions will stop immediately.”
Uh, no, see, the communists telegraphed this already, and the communists hate fund managers anyway. They’re just greedy pig dog capitalists.
The communists want to make Employment Contributions mandatory. The young guns will be by to tell us that is just our right-wing hatred of the left talking.
Oh, wait, the communists already did that 60 years ago. That’s the 12.4% social security tax everyone suffers taken from their paycheck. All the communists need to do is make that 24%, as they already telegraphed they want to.
Thanks for that.
“If you want to sit around and panic over nothing”
You’re about politically astute and reliable as any young gun trolling for the communists. We’re not as gullible as you are.
The rest will be converted into long-term non-perishable commodities that will survive the coming economic meltdown of rampant socialism the communists will impose.
“What’s the inflation rate now?”
Low as a snake’s belly.
“What do you think it will be in three years?”
Higher but still historically low.
Our State Department can't account for a hundred billion or so each year. So they will just give it to the State Department, who then launders it abroad and sends it right back to the Beltway club of the uniparty.
...Amen!
See my tag line
You pay taxes on your 401k earnings when you withdraw, and you pay it at your income tax rate. So yes... government could raise tax rates, but that’s completely 100% different than “government TAKING your 401k”
They could also decide to have you pay taxes on your gains going forward if they wished, instead of when you pull it out. But again, this wouldn’t be “TAKING” your 401k. You would just pay taxes now vs later on the GAINS. Like you currently pay taxes on interest in your savings account.
I don’t see what is to be gained by trying to insight panic that the government is going to institute a national wealth tax which is the only way they could “TAKE” anything beyond new earnings.
The story of “The Goose that laid Golden Eggs” and its several century old legacy, was not a fairy tale, it was political satire. It’s just as true today. Any such treasure stolen by government bureaucrats will be quickly wasted, and can never be replaced.
Wealth is one of the few treasures on earth created by the labor of mankind and when stolen government, can never be replaced.
“but that’s completely 100% different than “government TAKING your 401k””
I’m AM talking about confiscation. I never talked taxes. The communists have said they want confiscation. I believe them, not some troll trying to defend communist statements.
In October of 2010, the National Seniors Council ran an article, “Obama Begins Push for New National Retirement System” in which it was stated,
“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.”
Think again , It could nationalize and confiscate everyone’s 401(k)s. That’s what the Argentine government did in the 2008 economic crisis. It seized everyone’s private pensions — $30 billion. It’s also what the Franklin Roosevelt administration did in the 1930s with gold, which had been the official constitutional money for the American people for more than 100 years. President Ford made gold legal to own again.
“I can guarantee you 100% ...” .
No you can’t, History shows us every socialist government in history HAS eventually nationalized 401ks ( private pensions). Nationalizing your 401K can happen in many different ways.
Shhhhh.
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