Seriously, If the rats maintain control of the House and Senate after 2010 you can pretty much kiss your 401K/IRAs goodbye.
Posted on 01/09/2010 9:46:42 AM PST by Captain Peter Blood
I have been posting about this for years here. Bastards. I will take my money out of my 401k if this even starts through congress. I will burn my goddamn money before I let them take it.
Is it time for the revolution yet?
There was a proposal posted here on FR before Obama’s inauguration that proposed taking 401Ks and resetting them to pre-crash levels. In exchange, the government could use that money and replace it with bonds.
Wow. Good thing I’m broke!
You could take it out now, take the tax hit, and buy precious metals. Half is better than none. Inflation will eat it away if the government doesn’t steal it anyway.
All law abiding, angry citizens should apply for tax filing extensions April 15th.. sorta like a deferred flight landing.
Quiet, but irritating.
Actually, the much easier and quicker way to seize retirement money is to do what Russia and Argentina (and many other countries) have done, and that is to simply devalue the currency. In the US, I’d expect our currency to be worth 1/4 to 1/3 of what it’s worth now (in true buying value). Looked at another way, prices for items without US content (like oil and gold) will triple or quadruple, prices for the most everything else will at least double.
All this will happen once other countries decide that we have no capability to pay our debt (which is the case now), and one of them decides to pull the trigger and dump the dollar. Right now everyone’s standing on at the edge, hoping that monster behind them stays put, and no one is ready to take the jump. When will that happen? Anyone’s guess, but soon.
Buy heavy metal...Gold, Silver, and especially Lead.
FR thread on the referenced Market Ticker article here:
http://www.freerepublic.com/focus/news/2424037/posts?page=1#1
Don’t forget to claim 100 million exemptions on your w-4 this year.
Over my cold hard dead body will I let them do this...
link?
Seriously, If the rats maintain control of the House and Senate after 2010 you can pretty much kiss your 401K/IRAs goodbye.
I second that!
Precisely -fear of breaking Federal tax laws are what the despots use to control us....
Especially, law abiding, hard working Americans.
Our money is what sustains them - taking it away will starve the beast.
It would be worth it to me to liquidate the whole 401K and take the tax hit now, in the long run I’d be money ahead.
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Its only a matter of time before they take your money.
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