Posted on 05/06/2010 4:55:29 AM PDT by IbJensen
SS was not supposed to be permanent.
You don’t believe that, do you?
When they said that it was just a stop-gap, that was like Obammie the Commie saying he is pro-business.
“The Agencies are considering whether it would be appropriate for them to take future steps for them to facilitate access to, and use of, lifetime income or other arrangements designed to provide designed to provide a stream of income after retirement.”
Right, like the Fed did such a great job administering the SS funds.
“We appreciate your consideration of our views in these important matters and stand ready to work with you and the Administration to promote secure and adequate retirement savings for all Americans.”
Clearly the job of the federal government.
God help us!
Such a deal... the government takes my money and my employer’s contribution and gives me an IOU and I bet if I drop dead my kids won’t see a penny just like Social Security ...boy I can’t wait to sign up.
People need to start researcing the archives now. This came up as an issue during the 2008 campaign and talking heads on the left said this wasn’t going to happen, and that the right was just guilty of inflammatory fear-mongering. These people need to have their own words forcibly shoved down their throats when this comes to pass.
Lots of dead congresscritters if they pass this....lots of them.
Time to start seriously haranguing Congress-critters and Senators on this. And to start looking for some vehicle to roll these assets into where the slime balls can’t grab them. Yet.
Jesse Jackson has wanted a piece of that action for years!!
Now that his boy is in the Whitey House, looks like he may get his wish. All part of redistribution of wealth.
If we don’t vote these RATS out in Nov., there is nothing stopping this bunch from putting all of us in the poor house.
That is all about what a community organizer does; you hit the nail on the head!!
Obama administration believes that employers cannot be relied upon to adequately manage the 401(k) retirement accounts it provides for their employees, therefore the federal government will relieve them of that responsibility and take sole discretionary control of those funds, thus eliminating the risk of mismanagement.
Obama’s vision of a perfect economy is where all salaries and company profits are sent directly to Washington where a committee of intellectuals decides how much to send to each individual.
Fits their MO.
They are already looting the assets of healty banks and financial institutions to cover those who tanked because of the sub-prime mortgage mess. They are going to repeat this in the retirement area to bail-out moribund Union pension funds.
I would really, really doubt that outright theft would happen. Because at that point, politicians would start to swing from lampposts. Cranking the heat up too high, makes the frogs jump out of the pot.
No, instead I'd think that people would be "encouraged" to "voluntarily" join some sort of program along these lines. ....Oh, and incidentally (it's certainly nothing to concern yourself with, taxpayer), we'll make whatever system (401k, IRA, trusts, etc) you currently have completely untenable....
'Tis why the extremely hard push to convert everything to Roth IRA's makes me a bit nervous. I can see advantages to doing it in certain situations, but absolutely not for everyone (like many are proposing). Speaking for myself, I keep some $$$$ in a bunch of different places and tax structures. It's more complicated, and maybe wishful thinking. but I figure that DC can't get everything at once.
Hopefully, what you say will hold true. I worry that they will change the laws, and Roths will lose their tax-free status in the future.
They take your valuable stocks and bonds and own those companies until they sell them to China, and they give you an unfunded liability they may or may not be able to honor on their terms.
Vote out those you can and drag out the rest.
My vision of America is 50 separate states with no Congress, no Supreme Court and a President in charge of strategic defense and nothing else. We don’t need a federal government anymore. Too much hassle and dangerous.
I advise you to take it now- because once he does this- yours will be gone.
Take it out- pay the penalties & taxes and put it into a safe. Forget about piccling interest at the bank or credit union which you have to pay taxes on again.
They can trace the funds if you put it somewhere else—and then seize it anyway.
Take it & hide it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.