Posted on 09/07/2012 11:06:25 AM PDT by Pietro
I beleive that if Obama wins this election he will move to nationalize our 401Ks and every other pension plan in the country. Why?
Consider:
Even after raising taxes on the "rich" he'll be no nearer to reducing the deficit; and then Obamacare kicks in.
His big idea boys will look around and notice the trillions locked up in pensions and 401Ks. They'll figure its all the government's money anyway and so they'll grab it.
They won't be able to go through the legislature so they'll need to use one of the Cabinet dept's to make the grab, and they'll have to do it quick, before you can react.
The election will show them the % of moochers vs % of producers and so they'll be comfortable thinking a majority supports the theft.
Don’t see how.
Tortuga.
“Theyve already talked about doing this, plus taking 40% of our interest on stocks.”
It will happen slowly, i.e., with taxes - the frog in the pot method.
ping
Actually, if you close off the importation of a critical commodity with a high protective tariff, and you're a big enough customer, you can bring down the world price. Plus you quit exporting hard earned capital to the people who hate you.
Technically our largest source of imported hydrocarbons is Canada ~ a polygon if there ever was one ~ but we can continue to import their oil while taxing that sent here from other markets ~ e.g. Venezuela.
That's a box ~
I don't see any room for Obama and his running dog lackeys in there.
Where's the money, Triple?
Porcupine.
A warning that it's Youtube. This one has the pedigree that might give her the ear of Red Barry.
Hydraulic.
Easy choice.
Leverage
Tell me one senator or congressman that is on record supporting this? And even the alternative account she suggested doesn't amount to nationalizing your 401k.
Believe it or not, Argentina was, at one time, the third wealthiest country in the world, with a huge middle class.
Then the socialists took over. A hundred years later, they haven’t recovered.
It would lead to economic turmoil never seen before in the US.
Mark
Perfect logic from a leftist outlook.
Thanks for the link.
In effect, establishing a national annuity, from which they could dole out payments.
And btw, it would destroy the ecomony.
But then what effect would Cap & Trade have on the economy?
Or algore's btu tax?
Or for that matter taking over the healthcare of every man woman and child?
Exactly what leads you to believe that destroying the economy is off the table?
And in the end, it won’t do a damned thing to solve the problem, because your 401(k)’s and pensions will be invested in overrated junk bonds (treasuries), and those trillions of our dollars the government gets in return will run out soon enough.
“without just compensation”
According to Kelo and other decisions confiscation via eminent domain can be for public benefit instead of the required public use. How hard would it be to define “just” as “whatever we feel like”?
As I understand it, our total worth in the middle of the last decade was about $43 trillion, while our estimated debt is about $222 trillion, when unfunded liabilities are factored in, so no, we do NOT have enough assets to cover our debts, as far as I know, unless you’re counting the natural resources that the environMENTALists are refusing to let us exploit. Then, maybe so, but I doubt it.
Hey, if I don’t have to pay the FICA anymore, I’ll go with plan A, thank you very much. Plan B would eventually end up in the crapper anyhow #unfundedliabilities
Hard to define an amount of money as being worth something other than that amount of money, but the socialists would try. Or just tax it 100 percent if you don’t hand it over to the government. This is what makes Roberts’ decision so insidious; through a tax, you can violate all the other parts of the constitution. It is the end of the Republic and our rights as citizens, as a legal matter, unless a later court repudiates it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.