Folks, this is fascism in your face.
Americans, who can't balance their checkbooks and do simple math are in terror about managing their IRAs and 401ks.
Throw in the current paper losses in their IRA's and 401ks due to the rat engineered Fannie/Freddie Scam and Bailout, a very large % retirees and those with these plans would gladly hand over control of their funds to their friends in congress.
This would provide the cash for their bailouts and the coming bailouts of State Retirement Funds like Cal Pers..
One can see mandatory ownership of trash bonds to cover Freddie/Fannie reparation mortgages and the bail out of the state employment programs from NY to California.
Obama and his fellow rats don't want their voting slaves to pay for their SS. This Frankenstein creation would create a huge money pool for reparation SS checks for current slave votes and every illegal, who becomes an automatic citizen.
Vote in Obama and a veto over ride rat Congress, and we can kiss our decades of hard work, savings and retirement benefits goodbye.
Let ‘em try.
The GOP will recapture both houses of Congress in 2010 at a rate that will make 1994 look like a walk in the park to the Democrats.
bump
Who controls congress? This is one of the problems, too many stupid people voting for Obama.
“Take”??? Remember, Socialists already think it is their money to begin with. Anytime they can get their hands on money plan on them taking the opportunity.
If these animals take power all bets are off.
Usually, I believe in fighting our battles at the ballot box...but sometimes, I wonder if it’s time to utilize the Second Amendment to it’s original intent...
If this doesn’t fire people up to vote against Obama and any rat congressit up for re election.
Those people are mentally ill and should turn their retirement plans over to Obama, Je$$ie HyJackson, Ted Kennedy, Pelo$i Galore, Reid the Dead, Kerry, $inator $hrill and other rats in in Congr$$ having wet dreams about controlling our IRAs and 401ks.
Please send a copy of this oped to everyone with a brain on your email list.
In short, the system will first mirror social security, then merge with it, and at the end of the day, you will be left with the same meager social security check even though your contributions to it would have doubled.
I am soooooo hoping the dems try this. It would never get passed but just the idea the Dems want to take all our savings would send a clear message in the mid-term elections.
2010 will be too late if they have confiscated all of our savings. They will have pooped it off by that time. I guess if they pass a law that is what they are going to do, and I do not think it will be voluntary, I will take my money out, pay the taxes I have to and hide it from the government.
I can jsut hear the big O telling how he single handedly saved Social Security, he of course will not mention all of the money he confiscates.
Can someone photoshop Shelly O’Bomber’s face on a lobster? Because that’s where your retirement funds will be going: into O’Bomber’s bedroom in the form of champagne, lobster and caviar.
The dems are always looking for pockets of capital for their socialist experiment. Tobacco lawsuits, tax the rich, tax businesses, control retirement (401K) funds, tax university endowment funds.....the list goes on and on.
If we resorted to only a personal income tax, then people would see the true cost of socialism and would rebel -- instantly. (Non-violently, of course)
They won’t seize the funds. Even under Obama, the USA will not be that far left.
Instead they will find a way to leach a little bit now, a little bit later, until the value of your savings is reduced.
Example. You think you own a home. Wrong. Your town taxes you on the value of your home. Every year a little bit. 5% a year? In 20 years they have confiscated the entire value of your home while you thought it was just taxes.
Example. Your social security. Once sacred and free from taxes, they have cleverly found a way to confuse us so we don’t realize that they ARE taxing social security. If you earn over a certain amount, they tax your social security.
Bottom line is that leftists hate the fact that you worked hard and saved some money. They have their marxist eyes on your retirement savings. The day will come that they WILL grab it. But we aren’t there just yet.
And there is the problem: When government describes NOT CONFISCATING the money you earned as as being their "investment", in their minds even the money they don't take is theirs.
You can count on it. With a Communist at the helm it will happen. You can kiss your 401ks good bye. Welcome to Amerika.
Some Freeper might correct me, but isn't this exactly what the government did do in the 1930's when it seized all the gold ?
And aren't they indirectly doing the very same thing now through inflation ?
They just aren't stupid enough to do it out in the open.
P.S.: Everything you own, they consider theirs. Even your life.
Obviously we have a problem with the investor system most of it due to government intervention designed to send everyone money (+gov jobs)at the same time promote affordable housing. So the answer considered is more of those phony IOUs the government gives itself for SS surplus. I don’t want to shock the public, but congress and Bush spent that SS surplus many times over. It’s gone. There is no SS, democrats are promising giving us our kids future earnings, and our kids are voting for Obama. (And Pelosi convinced public that every dollar giveaway is their generousity and every dollar borrowed is in Bush deficit credit card, back late 2006 I predicted this would happen .)
Bush has led us to this where people are embracing the unthinkable. We need to fix our party after the election!
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Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
Would Obama, Dems Kill 401(k) Plans?
You can bet your a$$ they will. And not only 401ks but EVERY type of pension plan! This is from Teresa Ghilarducci's website. Her whole plan is laid out, its 100% Marxism. The bottom line is.....
Teresa Ghilarducci is a Communist!
Her plan is all based on Wealth Redistribution.
Guaranteed retirement accountsThis bitch and her fellow travelers are DANGEROUS to the USA and Capitalism.
Toward retirement income security
by Teresa Ghilarducci Download .pdf copy~~ snip~~ Strengths and weaknesses of the current system
~~ snip ~~Is the system fair?
A retirement system should not exacerbate income and wealth inequality.Certain groups are especially ill-served by the current system, including part-time workers, divorced and widowed women, individuals with long-term care needs and medical expenses, and racial and ethnic minorities...
Tax breaks for 401(k)s and other voluntary retirement accounts are skewed to the wealthy because it is easier for them to save, and because they receive bigger tax breaks when they do so....
Another problem with defined-contribution plans and IRAs is that they exacerbate the retirement income gap between men and women. Though 401(k) and IRA funds are considered marital property, no spousal consent is required for fund distributions and funds can be hidden or depleted before divorce
Does the system insure workers against risk?
Governments, and to a lesser extent employers, are better suited to bear longevity, financial, default, and inflation risks than individual workers.
And yes, in her plan she is FOR putting 401K money, and ALL pension Plan monies into the SS Trust Fund. If she gets her way everyone will be living in bug infested Soviet style two room apartments.
Teresa Ghilarducci Home Page
This scary post ties in with what I have posted re what might happen if Obama is elected and what the rats might to do to our IRAs and 401ks.
http://www.freerepublic.com/focus/f-news/2114602/posts
Government computers used to find information on Joe the Plumber
Investigators trying to determine whether access was illegal Friday, October 24, 2008 8:41 PM By Randy Ludlow The Columbus Dispatch “State and local officials are investigating if state and law-enforcement computer systems were illegally accessed when they were tapped for personal information about “Joe the Plumber.”
Samuel Joseph Wurzelbacher became part of the national political lexicon Oct. 15 when Republican presidential candidate John McCain mentioned him frequently during his final debate with Democrat Barack Obama.
The 34-year-old from the Toledo suburb of Holland is held out by McCain as an example of an American who would be harmed by Obama’s tax proposals.
Public records requested by The Dispatch disclose that information on Wurzelbacher’s driver’s license or his sport-utility vehicle was pulled from the Ohio Bureau of Motor Vehicles database three times shortly after the debate.
Information on Wurzelbacher was accessed by accounts assigned to the office of Ohio Attorney General Nancy H. Rogers, the Cuyahoga County Child Support Enforcement Agency and the Toledo Police Department.
It has not been determined who checked on Wurzelbacher, or why. Direct access to driver’s license and vehicle registration information from BMV computers is restricted to legitimate
This morning’s Fox Business show with Cavuto was talking about this....ugly!