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 ...
Might want to try actually reading the thread you linked to. There is not one mention of “blood will be spilled if this passes” on any of the responses.
Yep, you just don't **** with peoples' money.
The banks don’t get the taxes and the penalties for early withdrawal the Government does. The supposedly eeeevil bankers have utterly no interest in creating a panic. It’s bad for business. The bank wants you to keep your money locked in these funds. Administering these is one of the ways they make their profits.
If the government is trying to think up a way to get the middle class to revolt, confiscating the IRA’s and 401K’s should do the job nicely. Well done Barry and Nancy.
Ok here we go. You don’t know me for one thing. I have worked with the public most my adult life, hence my screen name. I just love how here on FR when somebody has an opposing view on something they are either called trolls or otherwise. I am frankly sick of it. That being said, it has been my observation (my experience) that we have become so beaten down by the government the idea of people phyiscally fighting back seems unlikely to me.
Just my humble opinion.
The perennial losers and malicious malcontents who elected “O” in their rush to reduce America to a mindlessly classless homogeneity have only succeeded in assuring that we retain our distinct classes, HOWEVER, NOW … with deeper divisions, and much less opportunity for either social or economic mobility!
America has been too long the ‘home of the free’ for it s citizens to return to the rank of ‘state subjects’.
• All the dissention and rancor “O” has wantonly cultivated, is a guarantee that distinct ‘classes’ will survive with greater discord and instability.
• The economic pillage, social dehumanization is a road to nowhere.
NO class will escape!!!
I see don’t bother you with facts, you have your feelings and you are clinging to them.
Read my post again (Observation) not feelings. And what facts do you have regarding this issue? As I recall there has never been this type of attempt by the US Govt to sieze retirement plans from the American People. This is a road never travelled before as far as I know, but prove me wrong. I have been around long enough to push aside my feelings as you call them. I don’t think people are going to resort to civil war over this.
That's why I said it referred to it... not directly quoting it. And BTW, in the absence of a direct mention of "blood will be spilled," for now I'll accept your argument it hadn't been specifically said. Fair enough?
If they do that it will be blood in the streets.
This would be WAR!
New Congress won’t pass it.
Incrementalism is the way they subvert the people.
Do you think anyone would have ever agreed to take what people now give for Social Security way back in the 1930’s if people would know that it would be as onerous as these taxes are now?
No, the Dems would start once again with class warfare, saying the “rich” do not need or deserve there retirement as they can do without, then gradually it will come down to the “meat” which is the middle class.
Never underestimate the determination of the elites to get their way.
How in the world can this country operate without an approved budget this year anyway? But we are as the Dems “deemed’ It passed so no one had to vote on it.
If the government has de facto control of the accounts, they can just issue 7.8 trillion in new debt backed up by the value of the accounts - they don't have to actually liquidate anything.
What is certain to happen is Democrats will increase future tax rates that will eliminate the advantage of deferring taxes until you're retired and "in a lower tax bracket". If your retirement is a decade or more away you're never going to be in a lower tax bracket. Pay the taxes now and be free. Tax rates go up over time.
Just wait. I am convinced that immediately after the elections, no matter what the result, Hussein is going to use the report from Paul Volker’s crew to declare a fiscal emergency, and implement a VAT any way he can. I don’t trust these evil bastards as far as I could throw any one of them, and I’m worried about what kind of vindictive retaliation will be forthcoming when the voters hand the Dhimmies their asses in November.
Stand by for high winds and heavy seas...
Let’s force all government employees to walk this plank first. They believe in government, so they can turn their retirement accounts over to the government and we can all see how well this works out.
Unfortunately, the government will probably protect these guys as a further affront to the people.
If they touch it, there should be a general universal strike by every citizen until they untouch it.
I stridently disagree with this nonsense.
Oh please. Americans are so brainwashed by TV. 5 out of the 6 TV networks has Saudi shareholders or investment deals & joint ventures in the tens of billions with Saudi Arabia. This includes Fox.
This is why ALL of TV is so pro-Islam. The public keeps watching TV and the ball games. The sheep will comply. Anyone who watches TV supports Obama.
The American Thinker spins out some real BS sometimes. Think, once the government really starts to make noise about seizing those assets what exactly are those assets going to be worth? The equity markets would collapse since stocks are valued on perception. The resulting destruction of the capital markets would likely set the stage for an utter collapse of America.
I believe doing this will lead to civil war or worse.
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