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Is the (exempt) Government Trying to Create 'Obamacare for Your 401(k)'?
Newsmax ^
| 12/22/15
| Trevor Gerszt
Posted on 12/22/2015 5:01:03 PM PST by Libloather
A battle is shaping up over the soul of your retirement account. On one side are those who say you, the individual buyer, are smart enough to navigate your own investments.
Others fear without stronger rules to protect you, you'll be at the mercy of advisers who put their interests ahead of yours. That's the rationale behind a new rule proposed by the Department of Labor (DoL) that requires strict new standards for every retirement investment counselor.
Many see this as another government overreach that assumes we're too dense to sensibly navigate our accounts without federal hand-holding, giving rise to the moniker "Obamacare for your 401(k)."
Then again, many who see it that way are in the finance industry and have a clear stake in government keeping its hands off.
(Excerpt) Read more at newsmax.com ...
TOPICS: Crime/Corruption; Editorial; Government; News/Current Events
KEYWORDS: 401k; exempt; government; obamacare
To: Libloather
If it only targets 401k and not IRA then I can dodge that bullet.
At some point they will find the citizen sufficiently angry to kick the butts of these thieves.
2
posted on
12/22/2015 5:13:14 PM PST
by
G Larry
(ILLEGAL IMMIGRANTS impose SLAVE WAGES on LEGAL Immigrants.)
To: G Larry
Historically, governments have only done 2 things consistently well. Take money and kill people. Now they want to “help” protect my money too?
3
posted on
12/22/2015 5:20:04 PM PST
by
Dawggie
To: Libloather
I fired my financial advisor when I figured out he wasn’t value added. So how does this affect me and my IRA?
To: Libloather
OBAMA-NOMICS,
Bringing unemployment to the masses!
OBAMA-CARE,
Bringing denial of service to the masses.
OBAMA BORDER SECURITY,
Bringing disease and DEATH to the masses.
OBAMA'S RULES OF ENGAGEMENT,
Destroying our military on all fronts.
IF you voted for this ILLEGAL ALIEN IN CHIEF, this MUSLIM TERRORIST IN CHIEF,
ANYTHING OBAMA SAYS is worthless.
Watch what he does, and not what he says.
The ILLEGAL ALIEN IN CHIEF wants ~ and is DIRECTING the policies that regulate ALL health care plansin the United States ~
TO FAIL ! NEVER FORGET THAT !
Many of us have said for many years that
Obama is doing this INTENTIONALLY. He using the old Soviet Plan from 1934 or earlier.
Only idiots and the evil voted for Obama, or ANY of the Democrats.
AND NOW, WE CAN ADD
"Establishment Republicans" TO THAT LIST, ALSO!
They've lied to us, constantly, and really are
"Collapsing the System". And now, these "Useful IDIOTS" who voted for them, are buying the lies that "Obamacare was designed to work." ?
It was designed to fail from the start.
THEN ... THEY GO TO THE
"SINGLE-PAYER SYSTEM".

They've been sucking our wallets dry for over four years now on the "Obamacare" LIE.
AND NOW THEY WANT MORE TAXES ?
Our Founding Fathers would have hung them already!
Lets review:
Who was it that cut future funding for Medicare by $575 billion?
...the president and the Democratic Party successfully bamboozle voters... The 2012 election could turn on this falsehood.
The truth is that the Obama health law reduces future funding for Medicare by $575 billion over the next 10 years ...
Mr. Obama and Health and Human Services Secretary Kathleen Sebelius frequently make that false claim.
Indeed, even Medicare's mailings to seniors repeat the claim
that reducing spending on Medicare will make it more financially secure for future years.
The fact is that Mr. Obama's law raids Medicare.
"In early 1968 President Lyndon Johnson [DEMOCRAT] made a change in the budget presentation by including Social Security and all other trust funds in a"unified budget." "
Who was it that expanded Medicare and Medicaid to cover many, many more people than it was originally designed to cover?
The History of Medicare
In 1965, the Social Security Act established both Medicare and Medicaid. Medicare was a responsibility of the Social Security Administration (SSA), while Federal assistance to the State Medicaid programs was administered by the Social and Rehabilitation Service (SRS). SSA and SRS were agencies in the Department of Health, Education, and Welfare (HEW). In 1977, the Health Care Financing Administration was created under HEW to effectively coordinate Medicare and Medicaid. In 1980 HEW was divided into the Department of Education and the Department of Health and Human Services (HHS).
The first U.S. President to propose a prepaid health insurance plan was Harry S. Truman [DEMOCRAT]. On November 19, 1945, in a special message to Congress, President Truman outlined a comprehensive, prepaid medical insurance plan for all people through the Social Security system.
The plan included doctors and hospitals, and nursing, laboratory, and dental services; it was dubbed "National Health Insurance." Furthermore, medical insurance benefits for needy people were to be financed from Federal revenues.
Over the years, lawmakers narrowed the field of health insurance recipients largely to social security beneficiaries. A national survey found that only 56 percent of those 65 years of age or older had health insurance. President John F. Kennedy [DEMOCRAT] pressed legislators for health insurance for the aged. However, it wasn't until 1965 that President Lyndon B. Johnson signed H.R. 6675 (The Social Security Act of 1965; PL 89-97) to provide health insurance for the elderly and the poor.
On July 30, 1965, President Johnson signed the Medicare and Medicaid Bill (Title XVIII and Title XIX of the Social Security Act) in Independence, Missouri in the presence of former President Truman, who received the first Medicare card at the ceremony; Lady Bird Johnson, Vice-President Hubert Humphrey, and Mrs. Truman also were present. President Johnson remarked: "We marvel not simply at the passage of this Bill but that it took so many years to pass it."
Medicare extended health coverage to almost all Americans aged 65 or older. About 19 million beneficiaries enrolled in Medicare in the first year of the program. Medicaid provided access to health care services for certain low-income persons and expanded the existing Federal-State welfare structure that assisted the poor.
The 1972 Social Security Amendments expanded Medicare to provide coverage to two additional high risk groups disabled persons receiving cash benefits for 24 months under the social security program and persons suffering from end-stage renal disease. 
...(continued at link)
So Democrats,
Sen Mark Kirk's
statement Thursday, Dec 1, 2011 ...
"There are 55 million Social Security beneficiaries that will see little or no extra cash from this 2012 tax holiday;
instead, the dedicated payroll contributions meant to pay for future benefits are being diverted from the Trust Fund
and replaced with Treasury debt that does not even have a AAA credit rating.
Social Security was designed to be independent and free from the danger of Congressional manipulation,
and maintaining the firewall between the Social Security Trust Fund and general government funding is the best way to maintain the solvency of this important program.
Neither bill protects the Social Security Trust Fund
so I voted no. "
It's not our fault that
DEMOCRATS raided the Social Security Trust Fund. Let's remember ...

Not ALL are to blame for the empty lock box.
It's the Democrats Communists.
Let's take a deeper look.
Okay, then the DEMOCRATS need to shut up!!!
5
posted on
12/22/2015 5:31:57 PM PST
by
Yosemitest
(It's SIMPLE ! ... Fight, ... or Die !)
To: Libloather
They’ve already forced us into several pyramid schemes. What’s one more to them?
6
posted on
12/24/2015 3:36:06 AM PST
by
RWB Patriot
("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
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