Posted on 11/10/2008 4:22:57 AM PST by Libloather
Of course SS needs fixed, and if liberals were ever really interested in fixing it they would have done so long ago.
Any time I hear a liberal claiming they are going to fix something I immediately know the FIX is in and they will find a clever way of stealing from one group to past out to another. But see before the redistribution actually takes place they will take their own cut off the top.
This is propaganda trying to gin up support for the government take over of private 401Ks.
That and the Democrats and Obama have promised to raid 301(k) accounts.
That and the Democrats and Obama have promised to raid 401(k) accounts.
An ancillary benefit to the Left of the contrived financial meltdown is that it will kill any talk of privatizing Social Security.
I also wonder if George Soros biography is truly as presented or if he is being funded by foreign governemnts with a veneer of legitimacy.
Their 401k confiscation plan will crash the market because liquidating mutual funds means a MASSIVE selloff of stocks.
Either they will not do it because of this, thinking that some will figure it out,
or they’ll go ahead and do it, knowing the market will crash, then saying “see? aren’t you glad we saved your 401k money from the market crash?”
“knowing the market will crash”? Why MrB, they’re absolutely counting on it.
I’m worried about the nationalization most too. I saw this coming and moved to cash in January ‘08.
We are DINKs (double income, no kids) with NO debt so our tax burden is horrendous. We’ve loved the 401K for it’s ability to hide money from taxes (for now).
If they take it they will have signed our death warrant in our old age. I will not sit still for that, I’d rather fight on my feet than die on my knees when I’m old and eating cat food because they squandered the half-mill DH and I have saved up so far.
LQ
I think the only thing that might stop the govt from removing all 401K’s from the market and placing them in the Social Security Trust Fund (what a joke that name is) would be that the market would absolutely tank. I heard a figure the other day, 4 1/2 trillion, that if removed from the market would wreak havoc.
“could be rewarded with a fatter nest egg for their retirement, experts say.”
That Big Brother will eagerly confiscate “on behalf of the common good.”
Allllrightly then. If they are going to take 401k’s from the business world are they then going to take the pensions of teachers, cops, firefighters, politicians, govt workers and UNION members? If we are really all to the the same under the new obama-nomics, then spread the wealth ALL THE WAY AROUND. Sounds like he only wants to ice part of the cake.
I agree,but am waiting for the messiah to take office and things getting worse.For now the best investment is probably ammo and AR15 lower receivers.
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