Posted on 09/05/2009 4:02:07 PM PDT by ConservativeBamaFan
I read with great interest today a news article on a new White House initiative that calls on people to save for retirement. There will apparently be an option to get your tax return issued to you as US Savings Bonds as well as new legislation to make it easier for employers to automatically enroll workers in 401(k) plans.
If you work hard and meet your responsibilities, this country is going to honor our collective responsibility to you: to ensure that you can save and secure your retirement. –US President Obama
I didn’t know we all had a “collective responsibility” to ensure that someone has common sense.
Don’t get me wrong. I’m in agreement with anything that helps people save more money, and especially save for retirement. But the term “collective responsibility” and retirement shouldn’t be in the same sentence.
Consider this headline three weeks prior to the White House’s initiative to encourage Americans to buy savings bonds: China reduces holdings in US debt.
Since “US debt” and Savings Bonds are essentially the same thing, it appears to this writer that the White House is trying its dead level best to hold on to as much cash as possible. If the treasury can divert tax refunds BACK into the treasury, it means more money for the Federal Government to spend while keeping a check, albeit small, on inflation. With the current dismal rate of interest on savings bonds, I would guess that only the uninformed would choose this option.
How long before the tax refunds converted into savings bonds are spent on ridiculous pet projects just like our (now) non-existent Social Security “Trust Fund?”
Isn’t this the same “government” that took a large chunk of my retirement savings and “spread it around” among their freeloading “voter” base?
This is nothing more than fraud... pure and simple. The government is going to seize all IRA and 401 (k) funds in the next several years and merge them with the hopelessly bankrupt Social Security... or tax them. It already happened in Argentina...
put everything you want on credit cards and save your money...i think thats what he said
THE SAME TO YOU, DIPWEED!!!
My mattress is paying more interest than a US savings bond will.
I fully expect to see an IOU for a tax refund within the next 2 years.
KMA you Fascist b@stard!
I'll take care of my own, AND pitch in to all others via politicians thanks to FDR....another collective Fascist with a touch of Marxism.
No way!
After all he is a public servant. /s
How else are they going to supply Civil Service and Union Workers with the cushy retirement benies they have!
Yes, and we weren't told it was done just for political directive at the time.
Easy, hire union sanctioned workers to run the printing presses that print the funny money that is destroying our financial sovereignty.
Easy, hire union sanctioned workers to run the printing presses that print the funny money that is destroying our financial sovereignty.
My thoughts exactly when I first heard this today.
The “government” is now DIRECTLY in the business of
bribing US PERSONALLY WITH OUR OWN MONEY. They always did
that one way or another, but now the mask has fallen away and EVERYTHING looks so obvious.
And YEAH! How friggin DARE he use the word “collective”
along with “responsibility” when addressing us???
THIS A HOLE MUST GO!
Once a COMMIE, ALWAYS A COMMIE! He hasn’t learned SQUAT
from his EIGHT MONTHS of being C-in-C>!
They definitely will if they can, no doubt.
Reminds me of something Jesse Jackson said a few years ago. He was giving a speech and was talking about the amount of money that was in (I believe) gov't retirement accounts at that time -- he told the amount and it was enormous -- and he said, "Why can't we have some of that money?"
I never heard another peep out of him about it, which was extremely odd. So I figure they had already been thinking along those lines and likely paid him off to shut him up before he ruined their plans!
““spread it around” among their freeloading “voter” base?”
I would like to add one friendlily point; the “freeloader voter base” is only the vehicle for the buy in, to deliver the wealth to “Friends of Government.”
“How else are they going to supply Civil Service and Union Workers with the cushy retirement benies they have!”
I can’t comment on the union workers, but I’m personally counting on an investment of nearly $75,000 (at last count) that has been paid into a civil service retirement account, and it came as a deduction from a paycheck, not a bennie/freebie.
This money was supposed to have been invested and would pay out fairly well at retirement. If anything, the govt has already spent this money and is now trying to figure out how to cover their thieving rumps!
Especially if you filled it with gold & silver.
Yes they are.
I already took it out, paid the taxes, and bought items of value.
Which are located in various places.
YMMV.
If refunds are issued as savings bonds, why not just admit they are IOUs?
If this is done, it will result in people choosing to underpay taxes to ensure they don’t lose the cash.
Note to self:
Go in to work Tuesday morning and file a new W-4 with H.R. and increase exemptions...
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