Posted on 02/01/2009 7:12:37 PM PST by rabscuttle385
“That would really crash the market and shut it down.”
I’d be right behind you in line to cash out. :)
“If they even think that they are going to do that, I’m out.”
Right, by the time they formally announce 401k “nationalization”, I think it is realistic to assume that they would also immediately restrict withdrawals and/or increase the tax penalty for withdrawals. They might even try to force those who had already withdrawn their assets to pay it back into an IRA.
Let’s face it, the government can and will do whatever it wants. Our “leaders” do not seem to feel bound by law - Constitution or otherwise, so anything is possible.
The idea is to move before the bill is signed.
Let’s face it, the government can and will do whatever it wants. Our “leaders” do not seem to feel bound by law - Constitution or otherwise, so anything is possible.
As your screen name implies, we, the people, would still have one tool available to stop the theft. The question remains as to whether people would use that option when appropriate, or if they'd simply give up. given that 52% of the voters (not accounting for the 2-4 million ACORN fraudulent votes) chose Obama, I'm guessing that most would do the latter.
“The idea is to move before the bill is signed. “
The federal government does not seem to have a history of having a problem retroactively enforcing gun laws or tax laws. Anyone who believes that the market is going to drop much further, that the dollar is going to be greatly depreciated AND that Congress will allow Hussein Obama to steal our savings, should probably be thinking about liquidating their 401k right now, or at least moving it offshore (it can be done).
We have gone over everything and cancelled every membership, recurring monthly bill etc. We had a storage compartment which we have emptied and stacked up in the living room. Kind of cramped by it saves $50 a month. Stocked up on HamburgerHelper. Don't yet know what we have left. Will prob. take a month for it to settle out. Will know by then if we'll lose it all.
Thank you for your prayers.
Yes he is.
Well, most of my ‘retirement’ is already well secured. I do have about $20K that I’d have to grab fast, though.
See ya in the Bread Line, LOL! :)
Unbelievably expensive.
You betcha!
Thank you!
My job is pretty secure, but one never knows. Business HAS been picking up...but sadly, since it’s a Garden Center, we are seeing a lot of customers that have been laid off and are planning on starting a veggie garden for the first time this year; they’re not anticipating they’ll have a job by spring, but they’re also planning ahead and learning new skills for the future.
It’s the only way to go. When I had 6 mouths to feed back in the day, I had a 1/4 acre garden. Now it’s smaller because we’re don to 2 in the family now, but it still produces a lot of food.
Granted, it’s WORK, which some people have a fear of, but it’s worth the effort. :)
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