Posted on 01/30/2014 5:00:06 AM PST by EBH
RUSH: Well, now, that's fascinating you mention that, because that's the next item up in my Stack of Stuff and I talked about this weeks ago, maybe even months ago when Tom "Dung Heap" Harken proposed this. Now, before you condition Alicia, let me refer to what she's talking about. It's Mark Hemingway in the Washington Examiner: " Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that. On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on 'Retirement (In)security in America.' "Among the proposals discussed was 'Guaranteed Retirement Accounts,' or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their money to the government instead." Now, this has been in the works for a long time and I remember the first time I mentioned this on the program, Alicia, we were deluged with calls from Washington: "No, no, no! You totally misunderstand. Nobody in the Democrat Party is talking about eliminating 401(k)s," and they are.
(Excerpt) Read more at rushlimbaugh.com ...
OK so now you see that it’s a bill we’re talking about. Good!
One could identify 3 steps in passing a bill. Each step taken brings the bill closer to being a law.
1) write the bill - check
2) pass the bill - ???
3) sign the bill - easy for 0bama
3 is a given if 0bama is president. That obviously leaves 1 and 2. 1 is done. So only #2 is preventing it.
Do you think this admin would do it if it could? Why would anyone vote for it?... why would anyone vote for 0bamacare?...why would anyone vote for amnesty?
So yeah I have a valid pport and money in other places. he he he
Bkmk
After what we have learned from the past I can't imagine why ANYONE would trust a "sticky butted politicion" to hold on to their life savings...
After all, that's what social security was suppose to be... Right..? And now (according to them) its just another handout program..!!!
But wait..!! I'm sure they'll put it in a "LOCK BOX" and they can get it back whenever they want it...
Yea, right............
They want to herd everyone into a central, Federally managed pension fund. This offers several advantages for Dems.
-They can bail out their union buddies by rolling their failed, underfunded pension plans into the larger pool.
-They can use the money to buy Treasuries and run their own unending QE program.
-They can invest the money in the stock market and gain a HUGE amount of leverage and control over corporate America.
-They can use the money to throw an accounting mask over the size of the deficit, to cover for more spending.
-They can achieve levels of redistribution, at least amongst the retired, heretofore unimagined.
That is the way it is supposed to work, right?
But, with him signing an EO for what appears to be some innocuous voluntary retirement account, he has given the bureaucracy the ability to start setting things up.
In order to set up the MyRA, much of what is in that bill would need to be put in place, logically?
There is a financial crisis brewing and this truly smacks of government manipulation...one fire at a time.
All Obama has to do is get the first group to sign up, and then engineer a tanking of the stock market.
Everyone’s 401K will go down, and then he’ll be able to point at the people in the Federal plan and say “see how much smarter they were?”
In February of ‘09 people would have been jumping into this with both feet, I assure you.
RATs will be in your bedroom next, wanna bet? Liberals want total power and to control everything you do; cradle to grave with them in control utilizing their database on everyone.
Yikes!
“If you like your 401(k), you can keep it.”
“They can...”
You left one off your list:
They can turn off the $$$ spigot to YOUR account anytime they want to.
“I’m calling because the automatic deposit from myRA account into my checking account didn’t come thru on the 1st of the month like it’s supposed to. I need those funds to pay this month’s bills.”
“No problem sir...we’ll investigate that and get back to you. Current investigation time is about 3 months. We’ll contact you by mail when we have resolved the issue. Thank you for calling myRA. (Click).”
Right. And if Obama decides to use another executive order, then what?
Bohners not putting that bill up for a vote, neither is Reid.
*********
Of course not - we don’t need no stinkin’ laws!
Thanks for the link.
And the court ruled that the gov’t does not have to pay the benefit.
Thank you. We also had several threads on this subject back in 2010 (I think that was the year) when the Dems were discussing a retirement takeover. Some Republicans in congress actually sent a letter out against nationalizing our retirement. I have to go to work so I don’t have time to find the threads.
A lot of huffing and puffing on this thread, but not a darn thing will be done about it from the right.
I'm not so sure anymore. I'm really not. This president has almost dragged me, kicking and screaming mind you, to actually at least considering (if even just for a little bit) conspiracy theories about dictatorial power grabs and globalist influence on our nation.
His leftism is relentless and uncompromising. And the fact remains, SS is going bankrupt in 30-40 years (if not sooner). That's just mathematical fact.
So the statists must be scrambling around looking for a way to give the masses their bread (and circus) when retirement hits. They are probably in full panic mode about this.
So it really wouldn't surprise me to learn of some desperate grab for our money at some point. Even if if meant a complete and obvious (so obvious many of their apologists couldn't even wave it away) seizure of funds. "For Granny, don'tcha know. You don't want grandma out on the street, do you, you cold, heartless conservative b*$&*d?"
Individually owned retirement monies do represent the greatest amount of private wealth (largely untapped) left for the leftists to get their grubby little hands on anyway. Quite frankly I'm surprised they haven't tried anything substantial to seize it (yet)
I just don't know how, as a typical Joe Shmoe worker myself, I can protect my assets and still grow, without some kind of investment, at this point. If I sold everything and bought gold to hide under my bed, for example, I'd be taxed to death and the principle wouldn't grow significantly.
So with all that said I have no solution. But the leftist desire for our money is very real, make no mistake, and they aren't going to stop at some pesky law either, when they decide to come and just take it.
Thats actually the first reasonable scenario response I have got, and I got more than usual on this thread.
That could happen with many.
401Ks don't have to be rolling the dice. In my 401K rollover from a previous job I have a number of gov insured investments.
Imagines CALPERS on a National Scale.
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