Can they really steal our IRAs and 401Ks ?
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For many years business’s would overcharge their customers on any number of items. They counted on MOST of them Not discovering these charges. When they did, it was a customer service issue and the problem or overcharge was corrected.
That is one form of theft.
The wholesale taking of someones money from their retirement accounts is brazen theft.
Look at what just happened in Cypress.
EDITORIAL: Grand theft Cyprus
Obama eyes a similar raid on 401(k) accounts
http://www.washingtontimes.com/news/2013/apr/18/grand-theft-cyprus/
I think they will push for a form of “transaction” tax, and broaden the definition of transaction to make this theft less noticeable.
They are defacto stealing with all the money they are printing. Making the dollar worth less and less. 401Ks and IRAs are denominated in dollars, so they are worth less and less and will buy less and less.
Impact is the same as if they just went in and took out a bunch of your money.
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