Posted on 08/09/2013 6:09:06 PM PDT by Yosemitest
The first I heard of it was in the last year of Bush43, by some Kali Dem congresscritter.
ping
I've been in 401k (and now converted to IRA in retirement) since they initiated in the early 80s. I don't remember any promise that they were tax-free. They have always been tax-deferred.
Ping for reference.
Certainly, but in the context of his comment, there was no mention of Roth.
This bill is in a House Committee. All bills are assigned to a committee when they are introduced. It is a Democratic bill. Republicans control the House. Republicans control the committee. How far do you think this bill is going to go? All they have done is show their hand. They are thieves.
These jackasses are oblivious to the power and ingenuity of the average Joe-six-pack.
They keep pressin ahead, sooner or later Joe's gonna come out a swingin.
Ah, yes. And Ruby Ridge was some ‘nut case’. Waco was some ‘nut case’....
That guy had a line, and they crossed it. When you’re being stuffed into the box cars, it’s a tad too late to fight.
The money in most 401k’s and IRAs is already taxable when you start to withdraw it (and the govt forces you to withdraw it in pieces via RMDs).
Canary in the coal mine. John Brown was nuts too! In 2 years all the rest of the “sensible” people in the US were at war with each other!
Good people are finding themselves saturated with all of the “nudging”!
I’m sure that the retirement bonds will be just like the notes in the SS ‘lockbox’ - just un-secured IOUs.
The last known post by the freeper that went by the handle NTHockey. I like your defiance.
Yes, you are right. To be more clear: those 20, 30, or 40 years that your money was sitting without being taxed in these accounts are what the left is going to say was unfair & that they need to recapture that money in some way.
” tens of billions of dollars sitting around in these accounts”
Actually, it’s trillions, which is why Obama is so eager to steal them. Tens of billions wouldn’t really help much. And the real advantage of stealing IRA money is that it affects mostly folks that didn’t vote for Obama and would never vote for another one like him anyway. Stealing IRA money is just another form of “redistribution”.
Towards the end of this interview, which I highly recommend, Ann starts talking about the nationalization of 401K’s and how and why it comes about. In short, a manipulated stock market crash will result in people looking to the gov’t to “guarantee their retirement savings” The gov will step in and swap devalued stocks for treasury bonds. Evidently there are position papers on this from several academics....
Closed my 401K five years ago - simply don't trust banks or financial institutions any more - they are mostly corrupt.
It isn’t “seize”, it is called theft by an organized criminal enterprise.
And yes, conservatives will take it in the backside by Obama and the progressives, and like it.
Some things never change.
There is little difference between government paying off low-information drones with the destructive drug of dependence on government and perpetual poverty for special interest votes and,
a common criminal sticking a hand gun in your face and telling you to surrender your fair gotten wages earned in a voluntary and peaceful marketplace.
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