[Red Badger]

Re-Posted because of it's importance:

If they try this, 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..................

[tbpiper]

What are RPG’s goin’ for now on E-Bay?

[DonaldC]

Jessie Jackson used to talk about raiding retirement accounts. Maybe the best place to put money anymore is in buried jars in the back yard.

[Matchett-PI]

bttt

[ROTB]

NOW I see the need for riot police.

[Drill Thrawl]

I'm beginning to wonder if it is worth it to liquidate all of my tax deffered accounts, take the hit for the penalty and taxes and to put that money into tangible assets?

Lose half now or all later?

I continue to believe that these *&$¥^*$# are trying to provoke a violent reaction.

[Bloody Sam Roberts]

In plain English, the idea is for the government to take your retirement savings in return for a promise to pay you some monthly benefit in your retirement years.

Over my dead body. And I mean it. I'll pull all funds out of any retirement vehicle (and gladly suffer the withdrawal penalties) so fast, their heads will spin.

[wastoute]

I warned y’all ‘ bout this a year ago.

[Buckeye McFrog]

the Jesse Jackson types in the Democrat Party have been scheming ways to get their hands on that $$ for two decades now

[Jersey Republican Biker Chick]

CHECK OUT THIS CRAP........PING!!!

[HuntsvilleTxVeteran]

This does not surprise me as the one way to get more
power and get people dependent on government is to
get rid of the middle class.

All countries where the government has too much power
over the people is a small or decline of the middle
class, a lottery and lowered morals.

[Defiant]

After Kelo, the 5th Amendment doesn't protect property very well. They could get away with it if they had one more vote on the Supreme Court. But it would be one of the actions that the leftists could take that would cause immediate rebellion, among steps like confiscating guns.

[RockinRight]

From my hot, very much alive, gun-toting hands you socialist sack of sh*t!

[Mariner]

CLEARLY unconstitutional.

Yes, it would create armed insurrection...no doubt about it.

[Bloody Sam Roberts]

Ping.

[lwd]

The fact that this is even being tossed around has caused me to stop contributing to my 401K and I’m sure I’m not alone.

[Tzimisce]

The people in our government are THIEVES!

[BAW]

These government creatures are scary. The next election can’t come soon enough. Pelosi/Reid/Obama and others of their ilk must be tossed OUT OF OUR GOVERNMENT.

[OafOfOffice]

Thanks. We can’t take our eyes of this one. The original bill was horrendous and we know it would end up unfunded liabilities like social security and medicare after their theft. Then 50 years later say it was never intended to be a savings account.

It can be hidden in the HC bill so watch for it.

[justlurking]

Sorry, but the article in Business Week doesn't support this claim:

Retiree Annuities May Be Promoted by Obama Aides

Read the article. 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.

Of course, the issuers of annuities are more than happy to accept promotion by the government, because they make their money off the fees and the "float". But, there's not even a hint of confiscating assets.

However, I do agree with you: any attempt to do so would be met with a visceral reaction. Even the safest incumbent would be vulnerable.

On the other hand, I wouldn't have any problem if Social Security were gradually replaced by contributions to a lifetime annuity. It would be a real asset, and not subject to being spent by Congress on the latest pork-barrel project.

[Waco]

To bail out the Staes’ pension plans, right?