Posted on 11/29/2008 11:41:32 AM PST by DivaDelMar
Here some more info...the original article.
I foresee a time when our employers will be forced to send all employees salaries directly to Washington D.C. and we peasants will then be be issued a debt/credit type card that those in power will decide HOW much money we will be allotted on a weekly, biweekly, or monthly basis. Of course we will still have to pay full tax on the amount of money that our employers sent in our name to the Commies in D.C.
wash her ears w/ this...Here some more info...the original article.
The Communists, like Ghirlarducci, are braying at the gates, to be heard. The Democrats are welcoming them in. Beware, people, beware.
How can "redistribution of wealth" be considered "economic justice"? What kind of perverted "justice" simply takes money by force from a person who earned it and gives it to a person who didn't earn it? If that isn't the basic formula for Marxist-Leninist communism I don't know what would be.
WWhy don’t you tell her that they did it once already with IRA’s
It’s coming...
They the rats are getting dangerously close to an all out revolt.
-PJ
But confiscating private retirement accounts is different than an "income tax." This is a direct "wealth tax," and as such, the US constitution doesn't grant the federal government the right to do such a thing. The only way that I can see with them justifying it would be that since these accounts were made up of funds that were never taxed in the first place (except for medicare and FICA), they MIGHT just get away with it. Of course, that would fail on ROTH IRAs. But it seems to me that they COULD force you to pay tax on it, but NOT force you to transfer it to the government's coffers. They would have to give you the chance to opt out of the plan, and that would destroy their ability to create the GRAs.
Plus, since the government only "invests" in government "paper," i.e. IOUs, they would either have to take direct stock ownership in the companies that people hold as investments in their retirement accounts (again, something that should be unconstitutional, but given the "bail-outs," that's out the window), or they would have to sell off the shares of stocks and mutual funds, causing the value of every publicly traded company in the country, possibly the world, to tank - because what happens when you've got a lot of sellers, but no buyers?
As usual, the dems float an idea that would be disasterous, but they think that it's the greatest thing since sliced bread. It must be nice to live in a world where there are no consequences to one's actions.
Mark
Oh yes, you guys did such a wonderful job in your oversight of Fannie Mae and Freddie Mac! These A$$hats can't even run their own dining rooms on capital hill, but now they're going to relieve us of the responsibility of saving for our own futures. Thanks a lot, and sign me up! NOT!!!
Mark
I remember seeing Obama talk about how the United States is a wonderful place, and how he was going to change that...
Hey, I guess that's what the voters wanted. What's the old saying that a country gets the government it deserves? Then the people of that country have to pay the price for it.
Mark
Out of curiosity, do you think they could do the same to Roth IRAs since they’re composed of dollars already taxed?
If you’re an idiot who believes money belongs to the government, then they could “justify” the confiscation of 401ks and IRAs due to them being pre-taxed, but I can’t see them making a case for confiscating money that’s already been taxed.
Actually, there was talk of a military coup. Smedley Butler was courted -- but blew the whistle on the conspirators. Of course, nothing happened to them, and the whole episode got swept down the "memory hole."
The program will be voluntary. If you don't volunteer to play, your retirement account will be taxed out of existence. I am 62 and retired. I cashed in my account last week as it was down nearly 40% of my contributions. The account's earnings are all gone. I bought gold at $748.00 an oz.
I heard an a$$ clown on Cavuto today call "average people" who save tax cuts and tax rebates they might receive "money horders". My God....
The sheer stupidity of some people with PhDs boggles the mind.
The minute there is serious consideration to confiscating IRAs, people will immediately convert all assets in them to cash; withdraw the cash; pay the tax (and penalty if younger than 59 1/2); and keep the money in a mattress, home safe or safe deposit box. This will be awful for the economy.
As the saying goes, if it ain’t broke, just wait till liberals get their hands on it.
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