NerO-bama
I’ve predicted that this would happen and that the “unexpected” funds to the government through the taxes and penalty would be a very slight aid toward the deficit.
I’ve also predicted that it wouldn’t be nearly enough and as far back as 2008 predicted that the government will confiscate all private retirement (401Ks and IRAs) and roll them in to SS.
People thought I was crazy when I made that prediction, but the Statists are kicking the idea around with such velocity that it is already becoming commonly accepted as a very real possibility.
If any bank is TBTF, then SS and/or Medicare is much more so.
I still stand by the prediction.
Sometime soon, the zer0 will lock them up ......................... FRegards
What do you want me to say?
This Nov most of the current Congress will get re-elected in easy ballot fights.
I guess Americans like high taxes and government corruption.
Steve Wynn Takes On Washington
Wynn is obviously very angry with the children who are in charge of our govt. King 0 parties in Marthas' Vineyard and gobbles ice cream on vacation. Bernanke wants to dump more $ Billions or $ Trillions into the economy. Pathetic crooks want to play more money games.
At my work, they offer loans that can be made against your 401K.
I’m not sorry to say that I did it. The interest rate on my loan was significantly smaller than the interest rate on the credit cards I paid off with my loan.
Fingers crossed that I’ll never have to actually take money out of my 401K...
If one thinks about what is happening to so many people across the country...it would tend to make one depressed.
However, I try to look at everything that is happening as a prelude to taking our country back.
I’m so sorry that so many people are in such dire straits, though. I hope they will let their preferences be known on November 2, 2010.
Great post and yet another grave concern about our economy. Combine this with the widespread epidemic of credit card fraud cases and fake $100. SUPERNOTES ! I am sure some folks are pulling out of their 401k because they are concerned that the value will soon be ZERO! Taking the hit on the penalty is better than ending up with NOTHING. Ugh and again I say ugh!
>>When will Congress and the president put the brakes on an economic philosophy that is bringing misery to so many American workers?
According to Marx, Alinsky, Cloward, Piven, and Baraq Obama: only when capitalism is completely destroyed and the people are demanding the new order.
Being as concerened as they are about the economy and all.
Crickets...
Zero has created lost of disturbing trends. This may be mean, but I hope independents and others who voted for him are hurting.
McCain may be a Rino but would he have pulled this monstrous failed stimulus-bailout-healthcare crap? No!
I’ve dipped into my savings too.
It was the only way to get my 8 year old car fixed and my AC fixed.
no vacations for two years, no eating out, no take outs here at all and then I have to see this fool and his wife spending my tax money on their 5th vacation since July and the so called press are again silent.
Thanks 2ndDivisionVet.
This will be my parents soon. Dad’s recovery is not going that well. But they do have a lot of assets.
Thanks 2ndDivisionVet. No bailouts in sight for 401(k) folks.