they can’t “take” our 401k’s because it’s not theirs to take, its basically like a savings account. They can change how they are taxed, but that’s it.
“they can’t “take” our 401k’s because it’s not theirs to take, its basically like a savings account.”
Yes, they can. The USSC gave congress the ability to tax anything and everything including nothing and to tax all of it.
That is how they will do it. They will increase the tax rate on our 401Ks.
They will increase the capital gains rate too.
This is one of the reasons why Bit Coin has doubled in the last month. People are moving their money out of the USA and out of US dollars.
This is also why I sold all of my stock based mutual funds the week prior to Christmas. I went 100% into bonds. I have been 100% stocks since 1985. Even during the pull back of the Great recession.
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.
Don’t hold your breath...
They spent the last 4 years preparing to steal your VOTE...
AND SUCCEEDED.
Why would they stop there??? They can steal your 401 funds & other savings ELECTRONICALLY.