To: jdege
There is no way the government will simply seize our retirement assets. Instead, they’d force us to trade them for credits in some new mandatory government plan. There is a second scenario that is being overlooked. What would the tax revenue windfall for government be be should millions of Americans panic and strip their 401Ks before their time? This would stimulate tax revenues at all levels of government (Federal, State, etc).
The next issue for the people pulling their money would be what to do with it?
76 posted on
05/22/2011 7:07:33 AM PDT by
voicereason
(What's the opposite of a survivalist? Try, a corpse.)
To: voicereason
There is a second scenario that is being overlooked. What would the tax revenue windfall for government be be should millions of Americans panic and strip their 401Ks before their time? This would stimulate tax revenues at all levels of government (Federal, State, etc).They already tried with the attempt to get people to roll from a traditional IRA to a Roth. Not as many people fell for that as they had hoped. If you do the math, you don't get much of an advantage if any, but the government gets a big windfall.
To: voicereason
The next issue for the people pulling their money would be what to do with it? Get out of debt and lay in bullets, beans and band-aids.
121 posted on
05/22/2011 10:24:07 AM PDT by
FrogMom
(There is no such thing as an honest democrat!)
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