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Class Warfare's Next Target: 401(k) Savings
Investor's Business Daily ^ | 2-17-2010 | By NEWT GINGRICH AND PETER FERRARA

Posted on 02/18/2010 8:03:31 AM PST by Red Badger

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To: Red Badger
even mention trying this, even hint at trying this there will be an armed insurrection that will make the Civil War look like a Tea Party..................

Just finished loading magazine #6 for the 1911, going to start the ones for the AR in the morning. Better to be ready...than too late to do anything.

101 posted on 02/18/2010 7:26:40 PM PST by voicereason (I Don't Need SEX...I Get Screwed By Democrats Everyday!!!)
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To: Red Badger

like what are we supposed to do about it?....we’re screwed entirely every which way....take a huge penalty and pay taxes now or have it robbed later....big choice.


102 posted on 02/18/2010 8:18:17 PM PST by cherry
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To: justlurking
It's about whether the government should (or could) encourage people to buy annuities with their 401(k) assets to protect against volatility in the market and guarantee a lifetime income.

Just the camel's nose under the tent, FRiend.

Like seat belts, first it was a good idea, then a 'secondary' offense (you could only be ticketed for not wearing one if you were stopped for something else), then a primary offense (they could stop you if they suspected you were not wearing one.

That's how that worked here, and this, too, will go from being reccommended to required.

They learned to turn the heat up slowly to keep the frogs in the pot.

103 posted on 02/18/2010 8:51:01 PM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: Red Badger

Marked


104 posted on 02/18/2010 10:03:23 PM PST by Canedawg (FUBO! Just FUBO.)
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To: Red Badger; informavoracious; larose; RJR_fan; Prospero; Conservative Vermont Vet; ...
+

Freep-mail me to get on or off my pro-life and Catholic List:

Add me / Remove me

Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of general interest.

105 posted on 02/19/2010 4:25:02 AM PST by narses ("lex orandi, lex credendi, lex vivendi")
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To: TheErnFormerlyKnownAsBig

You have an airplane?.....


106 posted on 02/19/2010 5:07:59 AM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: goodnesswins

The night before...........


107 posted on 02/19/2010 5:09:10 AM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: Red Badger

Gates, Buffet,,,ante up, it ain’t yours, so spit it out.


108 posted on 02/19/2010 5:35:03 AM PST by Waco (Wanna buy an FBI file,,,See Hillary, she's got 900 of them.)
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To: Waco

The Congress is addicted to spending. And just like a crack or heroin addict, they will do ANYTHING, even something that is detrimental to their own well being, dangerous or downright illegal, to continue that addiction. AND just like “pushers”, ie China, Japan, India, who have supported that habit, for a long time, now demand that the addict support his own addiction. They will stop buying US T-Bills, thus cutting off the flow of needed cash that the addicted Congress needs to “feel good”. Then, just like a deranged addict in need of a fix, they will strike out at the American peoples’ savings, IRAs, 401(k)s, pension plans and any other “pile of cash” that is undisturbed............................That’s when this country dissolves into chaos, anarchy and civil war.................


109 posted on 02/19/2010 5:50:14 AM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: cherry

You stop it buy telling your Congresscritters that if they enjoy the cushy life in DC that we give them, then they had better leave their cotton pickin’ hands off your retirement plan..............


110 posted on 02/19/2010 5:52:48 AM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: Red Badger

30 year Long Bonds are the only Treasury security paying decent interest rates. EE bonds are at 1.2%.


111 posted on 02/19/2010 6:04:48 AM PST by CholeraJoe (Seems like the people who SHOULDN'T reproduce tend to have the most kids.)
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To: CholeraJoe

The Klintoons started financing the government debt using short term bonds back in their day. Did W do anything to change that?.............


112 posted on 02/19/2010 6:21:35 AM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: Red Badger

bttt


113 posted on 02/19/2010 7:36:31 AM PST by Chickensoup (We have the government we deserve. Is our government our traitor?)
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To: Red Badger

BTW....good post...but this....and only this...is the MAIN drive for “immigration reform”....30-40 million more bodies...and they WILL have the political horsepower to pull it off...as well as whatever legal enforcement needed to make it stick.

Its why “immigration reform” keeps rearing its ugly head.


114 posted on 02/20/2010 5:52:54 AM PST by mo
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To: Defiant
What are they going to do to all the people who liquidate their 401(k)s in anticipation of this law? I would not doubt that the law will reach back 6 months or so and demand you give them the money you took out.

I posted this before under a different topic, but I think a precedent, of sorts, has been set. (From the California Mining Journal article of the '70s.) Just before Roosevelt banned private holdings of gold, two brothers sensed something was in the wind and converted their gold certificates into the hard stuff to the tune of $20,000. Six months after the edict went through, the Feds tracked down said brothers and forced them to turn in their gold for paper money.

The brothers sued, taking it all the way to the Supreme Court. The Court ruld in favor of the Feds, saying they got their $20,000 back in trade for the $20,000 face on the coins, conveniently forgetting that gold had been revalued from $20 and change to $35.00.

So, I fully expect the Court to say that you weren't screwed when you got a govt annuity that was "equal" in value to your 401K - after you have been tracked down for your "early out" option.

115 posted on 03/16/2010 9:32:02 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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