And confiscation of 401ks and IRAs.
However, instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be your deposit accounts. Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.
Please.... PLEASE try and take the money I worked hard for and sacrificed for my whole life so that I can retire comfortably. You will see hell on Earth from those of us RESPONSIBLE people who saw beyond our next paycheck and even though we really could have used the money now, saved it instead. They better have some damn good security details is all I have to say. You do NOT screw with what a man has worked and sacrificed for. If I can't retire on the terms that I created based on my own actions, then my whole career would be deemed useless and without purpose. For those who didn't have the foresight to save, I'm sorry, but that is entirely your own fault. I see it every day. Sadly, my daughter and son-in-law blow every dime they have on meaningless crap, eating out all the time, vacations, etc... and they don't have a single dime in retirement savings. At their age, they are in a better position than we were in terms of income. They're both 30 years old. What the hell do they think they're going to do? I have news for them, I plan on enjoying my retirement to the fullest with the plan that when I leave this world, there won't be a dime left to my name. If they think they're getting an inheritance, they better think again.
And why I pulled every cent out of my 401k.
Before I let that happen I would cash out, buy the biggest boat I could, and sail away from the US.
On the other hand, maybe we should all start Clinton type not-for-profit ‘charities’, and donate all of our money to ourselves.
And confiscation of 401ks and IRAs.
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A statement that mere years ago would have seemed flagrantly radical and obnoxious troll-bait, but if you open your eyes you can see it’s not lunatic fringe. This is the mindset of the wealth bandits. They think they are robin hood. There is always a rationale. Those who were able to save and invest for retirement obviously did it on the backs of the less fortunate.
It doesn’t matter that the 42% who will be broke will get help. It wont be enough. And it doesn’t matter that these people go into it knowing mother government will save them. They will say it’s not enough.
Compassion means taking from the prepared and giving to the unprepared.