[DivaDelMar]

I searched FR, but I didn't find this posted anywhere.

I am sick, livid, disgusted, frightened by this prospect and I am considering pulling every penny out of my 401(k)/IRA's before the Obama takes office.

Why hasn't this gotten more attention? I am afraid the sheople will embrace this. God help us all.

[DivaDelMar]

Ping.

[WorkerbeeCitizen]

bump

[DallasDeb]

This is old news. I still don’t think they can confiscate our private savings (401Ks).

[FlingWingFlyer]

DemocRATS are good at stealing other people’s money. A government of the politicians, by the politicians, for the politicians. Something seems to have gone wrong. That’s not how it is supposed to be.

[lilylangtree]

Damn! This info has got to get out. People aren’t hearing about this. This confiscation is nothing short of communism. I’m so PO’ed.

[boxer21]

A close reading indicates this is an effort to discourage and ultimately eliminate IRA’s and 401k’s. One thing your new socialist government does not want: independent people who save their money for themselves.

On the other hand, this may be the way they attempt to “save” social security; the next step will be confiscation of private pension plans just as the lady in Argentina just pulled off.

[Doug TX]

Levin interviewed one of the ‘architechts’ of this 401k plan. Basically, the govt is going to make a deal ‘you can’t refuse’. You won’t hear much about it until after the bin biden ‘crisis’ next year.

[Bloody Sam Roberts]

"...the Democratic Congress will continue to conduct this much-needed oversight on behalf of the American people."

Over my dead body. They can p!$$ right off.

[Jacquerie]

In a sane world and constitutional republic, this idea would never make it out of the batter’s box. Still, how can these clowns think that the theft of one’s life labor will be accepted without dire economic and social consequences?

[ponygirl]

I grew up in Raleigh, and everyone I know from back there was voting for Obama. I hope they all see this. Most of them had no clue what they were voting for, other than “Change.”

[KoRn]

I don’t have a substantial amount of money in 401k just yet. If I did, you better believe I would FIND a way to get to it before the federal government did.

This has to be one of the more outrageous things I’ve seen proposed. It’s bad enough we are forced into participating in Socialist Security. Now, they want to take away people’s hard earned retirement savings.

Any bets on how long it would take for this money to get spent by the politicians, just like how all of the Socialist Security money was spent? Their thirst for our money, driven by their hunger for power keeps getting closer to home....

[texmexis best]

This is insane. And is unlikely to happen as the political fall out would be huge.

These people have truly lost it.

[KingNo155]

All workers would have 5 percent of their annual pay deducted from their paychecks and deposited to the GRA. They would still be paying Social Security and Medicare taxes, as would the employers. The GRA contribution would be shared equally by the worker and the employee. Employers no longer would be able to write off their contributions. Any capital gains would be taxable year-on-year.

This provision alone would force more jobs and capital out of the country

[xcamel]

Oh really??

http://www.freerepublic.com/focus/search?m=all;o=time;q=quick;s=Dems%20Target

only about 20 posts of it in various forms...

[skinkinthegrass]

I searched FR, but I didn't find this posted anywhere.
I am sick, livid, disgusted, frightened by this prospect and I am considering pulling every penny out of my 401(k)/IRA's before the Obama takes office.
Why hasn't this gotten more attention? I am afraid the sheople will embrace this. God help us all.
...it was posted, (10-14 days) prior to the Election IIRC
....mention on Rush Limbaugh.com Radio Program (more info).
check his site

[pabianice]

My 33-year-old daughter refuses to believe this.

[Maine Mariner]

Again where the Republicans?
This should be a major issue in the Georgia Senate race.
Chambliss has a made to order issue.

[skinkinthegrass]

http://www.workforce.com/section/00/article/25/83/58_printer.php

Here some more info...the original article.

[proudofthesouth]

UNLESS the conservative leaders in the GOP (are there any left?) get their act together the Marxist Fraud along with Pelousy, pervert Frank, murderer Kennedy and other Demonrats will remain in power for decades.

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.

[WashingtonSource]

The Communists, like Ghirlarducci, are braying at the gates, to be heard. The Democrats are welcoming them in. Beware, people, beware.