Posted on 09/14/2010 5:42:35 AM PDT by bestintxas
Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea.
This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to "transform" this nation. A logical next step would be to legitimize the confiscation of private retirement assets; an idea that was contemplated in the recent past by the Clinton administration.
According to the Investment Company Institute, there was $7.835 trillion in IRA, 401K, 457, and 403b accounts in 2009. That is certainly too large a sum to be ignored by the big spending social engineers in Washington. Bureaucrats and politicians have been hard at work formulating a social justice excuse to legislate an historic seizure of private assets. This would not be the first time the statists extorted wealth from US citizens on a massive scale.
The public shakedown always employs a two step tactic to repeatedly dupe the malleable electorate. First, the statists fabricate and incessantly excoriate a contrived crisis of social injustice that is victimizing helpless and unknowing Americans. Next, they "craft"; a term Pelosi uses again and again, insidious legislation disguised as a necessary and compassionate solution that makes participation and universal funding compulsory by force of the law.
It is a simple and effective strategy that continues to trip up even the staunchest conservatives who ultimately succumb to the throng of propagandized constituents demanding
(Excerpt) Read more at americanthinker.com ...
Maybe that’s the point.
The financial crisis that this would trigger would be devastating to the economy.
These folks are just looking for the next catastrophe in order to justify seizing more power.
Watch China and Russia threaten us with nukes to pay them back with our IRAs, +- a Koran or Little Red book burning day, and democrates will have their cop out to blame us and have us denounced in the media instead of defending what is right.
With gay rights in the military, the US military will be a nice little additional faggy trotzkist socialist whore house, making sure it turns into the new lawyer based “clearing house” of relations between the people and the taxpayers and slaves... caching... death death death
the combined Tyranny will eventually reach a tipping point...
the midterm elections could reverse that trend if one or both houses flip.
Let’s say the Dems do try this in the Lame Duck Session. They have nothing to lose, since they lost their seats, and retribution to punish the people for voting them out of power is high on their list of priorities.
What can we do?
What will we do?..................
That was my first thought as well.
“They have to be sold if the gummi wants the cash.”
These are the same folks who took over GM. Closed thousands of dealerships, mostly those owned by political opponents. Canceled ownership of bond holders. And then wrote a blank check to bail out the nationalized company. Oh and they put a guy in charge of it who was 30 some years old, no degree, and no experience in the auto industry.
Do you really think they can’t find a way to liquidate all that $$? Especially since such action would devastate our economy which is their ultimate goal.
I am surprised that we haven't seen open rebellion yet. I often feel that Obama is pushing for that. He wants to break things. He wants to upset people. If some old white guys start firing guns, Obama would probably be thrilled to seize emergency powers and start making some serious changes.
I say bring it on.
That will start an insurrection like the world has never seen.
Our bloodiest war we fought against ourselves.
It CAN happen again.......................
“Let’s say the Dems do try this in the Lame Duck Session. They have nothing to lose, since they lost their seats, and retribution to punish the people for voting them out of power is high on their list of priorities.”
Don’t forget that there are RINOs out there like Loser Murkowski and Bennett who fit that definition.
They could easily side withe Dems to punish the small people who voted them out.
The window has pretty much shut on 0 being able to do this. While he had huge majorities in congress....maybe. But after Nov. 2 it won’t be possible unless he makes a move to ram it through the lame duck congress. I don’t see that happening because the groundwork, the massive propaganda camkpaign to justify it, hasn’t been done yet.
How many different ways can these bastards steal from us, before they are removed from the equation?
Like many, I just want to be left alone.
I suppose that the government could just write IOUs to the companies and tell them that they're the new owner, but again, it would destroy the stock market, and the economy along with it. But then, I guess that's the idea here. Make the USA a "workers paradise" like Cambodia or Cuba.
I guess I'm just not educated enough to ignore the probable consequences of these idiotic actions.
Mark
And the penalties are huge when looked at in total. There’s the 10 percent standard penalty, but when you add the amount you withdraw from the 401K, that boosts your income, so your regular income is taxed at a higher level too. (these rules apply to the normal joe there are some exceptions for older folks.)
They better hurry up. If they remain in power there will be nothing left to grab.
It would be a bloodbath.
One thing I learned years ago: Do not mess with people’s money.
They will stand still for every manner of insult, but mess with their overtime, their pay, their money in any way, and you have a revolt.
Nope.
Now, I'm not so sure.
I *do* think that if this comes to pass, that there will be a long line of pols hanging from lampposts.
No, I dont think so. The thugs in washington have become so powerful, the american public will have no choice but to go along with it. Oh, we will scream and shout, but they will do it anyway. They have nothing to fear I’m afraid.
Also, the balance of said annuity will not be allowed to be willed to your dependents.
You will save all your life, die, and the only beneficiary will be the USG and some crack smoking baby mill whore popping out government dependents for 20 years.
If this happens, there will be blood for sure.
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