dems want your 401k!

Discussion in 'Financial Cents' started by Tango3, Oct 24, 2008.

  1. Tango3

    Tango3 Aimless wanderer

  2. ghrit

    ghrit Bad company Administrator Founding Member

    Would someone please tell me what the difference is between a tax and an involuntary "contribution?" So, on top of the SS deduction from a pay check, there is now to be another 5%? I must be short in the ability to understand what this is supposed to accomplish besides dribbling away income in some sort of redistribution plan. My head hurts trying to follow the logic in that article. Our good friends in the media may have had a similar problem cherry picking the quotes.

    I'm confused. I hope it is just age.
  3. RouteClearance

    RouteClearance Monkey+++

    Another way to increase revenue. They have raided the Social Security Trust Fund since LBJ, How long before they raid this socalled "Trust", and I use the word trust very lightly when it comes to .gov
  4. Tango3

    Tango3 Aimless wanderer

    C'mon they'll put it in a secure "lockbox"....
  5. eeyore

    eeyore Monkey+++

    Private retirement accounts is about all they have left to tap. "lockbox" just like SS (As has been said
  6. Cunucu Beach

    Cunucu Beach Monkey++

    A local railroad widow told me that Congress had approached the railroad about moving their retirement fund into Social Security but the railroad declined.

    Looks like Congress is trying to raid every private pension plan there is.
  7. dragonfly

    dragonfly Monkey+++

    It's ok...don't worry!
    S.S. just took $275.80 out of my disability check this month to pay back the state of Arizona for health care I did NOT receive, nor will....August thru November...2008!
    I haven't seen a doctor since 2 years ago...and NO medical, BUT, I pay $27.00 a month for all those prescriptions I don't get!
    I was notified by mail, in October, and denied due process to have a hearing!
    It must be one of those "voluntary" donations!???
  8. Tango3

    Tango3 Aimless wanderer

    Wow, I don't realize what a charmed life I lead; never having been raped like that...That's beyond criminal, my monkeyfriend.
  9. overbore

    overbore Monkey++

    AND OUR DAMN BANK ACCOUNTS!!!! Here are the independently verified plans:

    NECESSARY ACTIONS. —The Secretary is authorized to take such actions, as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation, the following:
    Designating financial institutions as financial agents of the Federal Government, and such institutions shall perform all such reasonable duties related to this Act as financial agents of the Federal Government as may be required.
    Broad sweeping authority to do whatever they want to do! "Financial agents of the Federal Government," what does this mean to you and your retirement plan? Well here are a few potential scenarios...
    Let's say foreigners stop buying treasury bonds because they become even more nervous about the uncertainty in our banking system. Face it, we can't survive without foreigners continually buying up treasuries. If suddenly they stopped buying, the government would have to do something to finance the debt.
    Panic Scenario # 1 - The government tells your banker to purchase U.S. Treasuries with 50% of your retirement plan, or worse. (How about 100%?)
    But that doesn't work as well as they want, so they have to figure something else out...
    Panic Scenario #2 - The government tells your banker to stop any transfers outside of the U.S., No more offshore accounts! (Highly likely during an Obama presidency.)
    Things continue to go downhill and they become even more and more desperate...
    Panic Scenario #3 - The government tells your banker to confiscate all gold in retirement plans for the good of the country! (This has already occurred once in American history.)
    And finally the "Nuclear Option" we get a president who decides the right thing to do is ‘redistribute' the wealth...
    Panic Scenario #4 (worst case!) - The government tells your banker to confiscate all retirement plans over US$250,000 so we can redistribute the wealth! (But don't worry we are going to have universal health care and they will take care of us so you don't need it anyway.)
    Under this Castro like plan, our banks are going to be an agent for the "Spendocrats" to take our moneys as the government decides they need!!!

    :shock:Just one more or so moves on our freedoms without proper legal counter actions on our part and we are in Havana, Venezuela, Moscow, China or anywhere else the Marxist crooks plan to convert our Republic into.
    November 5 may just be a watershed event for our Constitution and our way of life. Overbore
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