Posted on 04/09/2016 5:29:50 PM PDT by Libloather
If you thought Obamacare was terrifying, just wait until you read about what President Obama's regulatory agencies are planning to do with your retirement savings.
According to an alarming report in the Wall Street Journal, government regulators at the Labor Department will be implementing new rules at the end of the year that will eventually force private retirement investments into government accounts. How? By making private investment options, specifically IRAs, too burdensome, a liability and expensive. Bolding is mine.
(Excerpt) Read more at m.townhall.com ...
I have cut down my FR to almost nothing because of the utter nastiness of trumps bought and paid for crowd. When it comes down to brass tacks, flat tax and smaller govt the Freepers are saying no. There is and never has been anything constitutional about trump.. So what they say they want, which Cruz offers more of, they no longer want. Some sad status quo psychology at work. Cruzlim.. Wow, how smart they are.. What he said about his infant granddaughter disgusted me.. He is an exemptocrat just like clintoon, pelosi and Reid.. His benefactors.
Ping
Katie Pavlich was one of the NRO “No Trump” authors - not the brightest bulb in the pack.
Sound the Alarm: New Obama Regulations Will Push Private Retirement Savings Into Government Accounts>>>>>>>>>>>>>>
Alternate Title: “ Why I Became an Expat of the USA.”
http://www.expatyourself.com/how-to-become-an-expat/
“””What he said about his infant granddaughter disgusted me..”””
I didn’t hear that. I pretty much ignore any thread that has trump or Cruz in it.
President Clinton ?
Only if the White House is moved to Leavenworth, KS.
For later.
“I have long said that the government will seize our assets...”
If they don’t, they will almost certainly adjust your Social Security payout via means-adjusting. Ants will get pennies, while grasshoppers will get thousands; another example of the government rewarding bad behavior. I stopped contributions to mine because it made no sense to put the money aside now while putting groceries on credit cards; ideally, I’ll have few visible assets (besides the home) when/if I retire...
Agreed. There will be a time when you will be “encouraged” forcibly to trade in your personal savings for some scrip of some kind, and there will be an exchange rate.
If you have a lot of assets, you are going to have a negative exchange rate.
If you don’t have any, your “exchange rate” is going to be a very high positive.
Socials security is a scam, I don’t expect to see any of it. They already have control over that.
Yeah, by the time I can collect I’ll be 67 - having paid in for more than 50 years...
That’s that thing for me-I am obligated to pay into that scam instead of investing the way I see fit, and won’t ever see anything near the payback. And that is deliberate. A national Ponzi scheme. And we are the late-in suckers.
“Can’t read anything from this 20 something principled Cruzlim.”
Are you referring to Katie Pavlich?
then read about it in the WSJ.
Are you so unprincipled that you bury your head in sand rather than understand what is going on?
Seems you have an issue from childhood. You must have been bullied or sullied and still mad.
This is plan B. They[the Democrats]were working [arguing] on how to implement it. It took them too long o get obamacare set up. Time ran out on them. The Congressional session ended. They [the Democrats] lost control of the House in the ensuing election prior to the nest Congress. The plan was shelved until they regain control of the House. Which, if the Republican Party has anything to do with it, will probably be 2016.
Too true; 1%ers can work ways to generate much more income that isn’t subject to SS (interest, dividends, for example). We’re stuck funding this scam, and will see little payout...
No, it doesn't. Advisers have been caught red handed many times steering small net worth clients into bad investments to provide cannon fodder profit for their connected clients. I agree that removing government completely from the equation is the best solution, but they are already far too involved. The best motive is not some government imposed fiduciary relationship-- it is profit. Let the adviser get paid ONLY as a percent of NET PROFITS on the account annually, no more of this percentage of your portfolio crap. This is how it was done before the government got involved, and is the best by far. The adviser doesn't eat until you do, and is strongly motivated to be creative and find ways to make you both money.
Now they just go for the biggest pot of gold and make a fortune, win or lose; without government fiduciary requirements there is NO motive for them to make money for the smaller client. They love older clients with no financial acumen, because then they don't even have to work the big accounts. I used to assist older members of my church with large portfolios to independtly asses what their financial advisers were doing for them; you couldn't believe it. They were under performing inflation and telling them they were doing fine.
As planned...
In fact, you are correct.
Moreover, Social Security is a tax that was untruthfully presented to the American people as an investment savings account.
Congress happens to authorize an entitlement payment for SS recipients, ... at this time, Congress can change or stop this entitlement AT ANY TIME.
Answer: Yup.
It's right there in the Constitution For The United States - ARTICLE II, SECTION 5. ... or someplace... Look it up!!
But if for some reason, you can't find it don't bother Congress by asking about it. They are too busy promising other people (contributors and Gibsmedat voters) what they are going to spend it on. Just let at least Five Black-Robed Potentates on the Supreme Court find it for you. It's right there. They'll find it!
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