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Fellow freepers, can someone get this to the McCain dudes. If Obozo wins, we are going to lose our 401k's. They will be taxed away and or used to shore-up social security. These thieves will say it is the 'fair' thing to do...
1 posted on 10/09/2008 11:25:49 PM PDT by Fred
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To: Fred

I feel like I’ve entered the Bizarro World. So many avenues of attack against Obama and yet none of them seem to gain traction.


2 posted on 10/09/2008 11:29:01 PM PDT by Azzurri
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To: Fred

Marxism plain and simple


3 posted on 10/09/2008 11:30:21 PM PDT by valkyry1 (McCain/Palin 2008)
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To: Fred

I honeslty don’t know at this point where McCain’s position would be on this. No Clue.

Social Security votes Vs. 401k votes.


4 posted on 10/09/2008 11:36:12 PM PDT by BGHater (The GOP, the new DNC.)
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To: Fred
for higher-income people

A portion of the American voting public are about to admit to us through their votes that, after years of liberal-controlled schooling, they don't give a crap about all that "justice" and "what this country was founded for" junk and just want the government to redistribute wealth.

I usually brush a lot of this stuff off, but this time it's scary.

5 posted on 10/09/2008 11:36:28 PM PDT by Darkwolf377 (:()
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To: Fred

It would make more sense to take away the tax break going into the 401ks. They can’t seize the money that is already there and exchange it for gov’t bonds. They just can’t do that. It’s not their money and it would be very difficult to tax it at the rate that it would have been going into the 401 k. My husband has been paying into his for as long as they have been in existence and before that, it was an ESOP plan, which was after taxes. How are they going to tell the difference?


6 posted on 10/09/2008 11:37:50 PM PDT by Eva (CHANGE- the post modern euphemism for Marxist revolution.)
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To: Fred

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.”

You see, when you get a “tax break” then that was really money that belonged to Congress and Congress should have gotten that money for its wealth and income redistribution schemes. So, all you 401K cheaters of Congress rightful revenue, you WILL give it back!!! /sarc


8 posted on 10/09/2008 11:49:16 PM PDT by Wuli
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To: Fred

Frickin Marxist Democrats are sending this country down the tubes.


10 posted on 10/09/2008 11:54:29 PM PDT by Jim Robinson
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To: Fred

“Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds, suggested Teresa Ghilarducci, an economics professor at The New School for Social Research in New York.”

Hahahhahaa...these people are insane! Yeah, just what I want to do, trade my investments for the toxic US junk they just bought up from wall street. I so trust US gov’t bonds now...unbelievable the depths these criminals will go to to steal from us now. If the rats win and they come after all we have left, sounds like we need another Boston Tea Party to get things rolling.


15 posted on 10/09/2008 11:59:54 PM PDT by Wolfhound77
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To: Fred
Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds, suggested Teresa Ghilarducci, an economics professor at The New School for Social Research in New York.

Do I really want to look up this school? I can almost tell from the name that they probably invest more in 5-year plans than stocks.

17 posted on 10/10/2008 12:00:26 AM PDT by VeniVidiVici (Amazing how Obama, Rangel, Biden and Dodd all got killer mortgage rates and below cost property.)
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To: Fred
“The way the government now encourages 401(k) plans is to spend $80 billion in tax breaks,” which goes to the highest-income earners, Ms. Ghilarducci said.

So anyone contributing to a 401K is one of the "highest-income earners"?

20 posted on 10/10/2008 12:02:47 AM PDT by Cementjungle
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To: Fred

truly evil


23 posted on 10/10/2008 12:06:08 AM PDT by ari-freedom (Betcha they're good. Why shouldn't they be? Their one mistake was giving up me!)
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To: Fred

If these clowns get elected - in two years it will be a 70% Republican congress. Trust me. All my freinds, business owners, and myself are pretty much going to fire all employees we can telling people who stay ‘do three jobs or you’re gone too’ it’s real simple - it’s not worth even doing business under this type of environment. Better to do all work myself or just keep powder dry until things open up again and become profitable again (read: republican tax and business policy)

No way will even the media stand for 25% unemployment as thier messiah wrecks the economy.


24 posted on 10/10/2008 12:11:56 AM PDT by TDT
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To: Fred

Heaven help me! This will gut me.


32 posted on 10/10/2008 12:25:30 AM PDT by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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To: Fred
“The way the government now encourages 401(k) plans is to spend $80 billion in tax breaks,” which goes to the highest-income earners, Ms. Ghilarducci said.

I call BS. There's a ratio requirement between higher & lower paid employees in a group.

http://www.cpas-401k.com/401k-compliance-testing-rules.html

The only reason the rich guy gets more of a tax break, is because his income puts him at a higher tax rate. When they call a reduction in liability an expenditure (note the highlighted word "spend" in the statement above), they're showing their cards. The government owns everything & they give you a gift when they allow you to keep more of what you've earned.

33 posted on 10/10/2008 12:27:15 AM PDT by GoLightly
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To: Fred
Let's see... The stock market is bleeding terribly and the moron Dem's are proposing making owning stock through a 401k much more expensive which will cause millions to get out of 401k’s and the stocks associated with them...

As if those huge "401k tax breaks for the wealthy" have paid off so well for the "wealthy"... Well if that's what the American people want then damn the torpedoes, full steam ahead to oblivion...

36 posted on 10/10/2008 12:39:34 AM PDT by DB
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To: Fred

Maybe some Kool-Aid drinkers will have second thoughts if they learn about this proposal. The Libs are going to take voter angst as an endorsment of their crackpot economic ideas and end up back in the minority for a long, long time.


41 posted on 10/10/2008 1:44:27 AM PDT by Harry Wurzbach (Rep. Thaddeus McCotter is my hero.)
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To: Fred

Hubby and I are convinced they will find a way to tax our Roths when we get to retirement. There is no way they are going to let us “steal” that money from their wealth redistribution program.


45 posted on 10/10/2008 2:24:13 AM PDT by ToastedHead
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To: Fred

The Democrats have been eyeing this juicy untouchable revenue for decades and are constantly scheming on how get their slimy hands on it.

Imagine what this will further do to the Stock Market? With Obama’s 20% (making it 30%) increased tax on Capital Gains and this in top of it, Wall Street will become a ghost town.

One thing these Socialists also all have in common is, when they plan these raids on the Constitution, they act as though we do not exist or matter. That is, WE, the ones who earn the money that drives this economy and country.

It’s as though every thing we have or earn is their property and they have the right to freely take what they need.


46 posted on 10/10/2008 2:36:21 AM PDT by PSYCHO-FREEP (Sara Palin; The Orca in a bay of Democrat Belugas!)
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To: Fred

Damn. That means they can control us more. I mean that Social Security is paying pretty good. Bastards.


47 posted on 10/10/2008 3:20:04 AM PDT by personalaccts (Is George W going to protect the border?)
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To: Fred

my wife and myself have done without the expensive crap, the fancy cars and vacations, the extra nice clothes, and put our money away so we could retire in comfort. We have been doing this for 25 years. Now, some blowhard piece of human excrement wants me to give it to them to manage!!! This will be a call to arms....


49 posted on 10/10/2008 4:10:57 AM PDT by joe fonebone (Proud anti-obama bigot)
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