Posted on 10/13/2010 11:40:24 AM PDT by anniegetyourgun
Honestly, I don’t even know what to say about this.
Senator Tom Harkin of Iowa is threatening 401(k) plans — insisting Democrats can use the lame duck, post-defeat session of Congress to ram through a measure that would seize your personal 401(k) plans and use them to prop up the union pension plans that are imploding.
(Excerpt) Read more at hillbuzz.org ...
Several Trillion dollars of fake wealth are going to evaporate from this mortgage mess, on top of the already 13.5 Trillion dollars of national debt that represents the real wealth that has been stolen from American citizens by the overt communist Democrats and the stealth communist RINOs.
Other than that, it's a great day. Elk and deer season are in full swing, the sun is shining, and early voting is underway. I'm going to go vote, then come back and chase some more wildlife around the neighborhood.
Well the real men will fight for what is theirs. Those who sit back and let other real men do the dirty work probably have been doing exactly that all their lives.
Again there are less than 600 of them.
It has nothing to do with stupid; they are not stupid although many of their voters are. They are doing this on purpose in order to force everyone under their control by making everyone dependent on their largesse. They are arrogant, criminal Nazi Socialist democrats. They are the party of slavery, the KKK, etc and this is their plan to create a new class of slaves that they can control.
FUBO
Yes, they’re absolutely that stupid.... and drunk with power and greed. These criminals have no personal integrity or redeeming qualities.
After November, they will want revenge.
Oh, I'm still investing in my retirement...just not my 401K.
Do what you feel is necessary.
Harkin’s not stupid. The people of Iowa are stupid for re-electing him. Harkin simply believes he’s God.
It’s just another way of confiscating somebody else’s wealth. The Democrats need the money so that they can buy votes. The Democrats don’t know it, but they are coming perilously close to a revolt.
There are many people (42%?) who don’t have a 401K and would support taking them away from those who do.
I gather “FightThePower” will not be willing to fight to prevent more government theft by those in power? Quite ironic but you might want to change your screen name.
All kidding aside FTP (as I am not wishing to pick a fight with you), if fighting at the ballot box becomes no longer sufficient then other than the 2nd Amendment what is plan “B”
If my plan allowed I would remove my 401K but I can’t get it until I’m 59-1/2. I’m 56 now. I think it would be safer in a tin can buried in the yard.
If there was even the slightest chance of this becoming law, you would see a stock market crash that would make “the great crash” look like a mild downturn as hordes of people cashed out their 401-K’s and IRA. It would be far better to take the early withdrawal tax hit and salvage something than lose control of all of it to the government. “”””
I have said the same thing for 3 years.
There will be no “WARNING” over this action.
What you are reading here on FR is about the most “warning’ you will see.
This action of seizing the private retirement accounts will be done electronically over a weekend. You will wake up on Mon AM & find your money gone.
Removing this money from the banks & investment houses would take the stock market as low as $300 instead of what it is running as of now, IMO.
Such actions would destroy the stock values of American companies & further tank the economy.
It would also destroy more banks, as that kind of massive withdrawal out of the banks accounts would make them technically insolvent. Ripe for closure-—thru no fault of their own.
Nancy Pelosi has also already discussed taxing every one of these accounts on the MAXIMUM they ONCE HELD before the stock market meltdown.
That would be taxing you on “PHANTOM INCOME”. Pure & Simple.
I never entered into any such accounts. I always felt that “What Congress Giveth, Congress Can Taketh Away”.
With NObama at the helm, they have absolutely no brakes on their actions.
None at all.
I’m long guns...
Yeah, they can, but remember, by Senate rule, anything involving the budget can not be filibustered. Remember they threatened to invoke this rule in order to avoid a filibuster over Health Care? They will just invoke the rule once again.
I have to say I would see stealing our 401(k)s as being a “line crossed” situation.
Spot on FreedomPoster!
If stealing our retirement is not the line then there is no line.
Spot on FreedomPoster!
If stealing our retirement is not the line then there is no line.
In a word, yes. Democrats are stupid enough to try many things in an attempt to cover up their corruption of the Constitution they swore to the people to uphold.
Just look at how many Freepers on this thread are convinced it won’t happen; that somehow an election will save us.
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