Do You Have A 401k Or Other Retirement Plan?

[CuteOldGuy]

And did you vote for Obama? Because Obama may want your retirement. Yes, folks, Obama is making plans for your retirement, and taking what you already have is part of it.

Here's the article:

It may be time to take the tax hit and withdraw funds from private retirement accounts before they are forced into long term T-bonds.

The Obama administration is reportedly quickly moving on plans to nationalize private 401k and IRA retirement accounts, and replace them with government sponsored annuities(aka Treasury bonds that the Treasury currently can’t sell to anyone but the Fed).

National Seniors Council Director Robert Crone warns: “This whole issue is moving forward very quickly. Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.“
All your retirement savings are belong to us:

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.

“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a “government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation).” She proclaimed that even “private annuities are problematic.”

Such “reforms” would effectively end private retirement accounts in America, Crone warns. “These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system.”
Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.
“This whole issue is moving forward very quickly,” warns Crone. “Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.”

Please realize that this is 100% about funding $1.5 TRILLION annual deficits using Americans’ retirement funds, as there is simply no other remaining pool of wealth able to soak up $1.5 Trillion in T-bills annually.
If the US government was put in charge of the Sahara Desert, there would not be a grain of sand remaining in 6 months.

Let's hear the usual suspects defend this. And the rest of the article is here:

http://www.silverdoctors.com/obama-b...te-iras-401ks/

[IIFFOFRDB]

I don't have to read it. I knew that was coming...fuck

[Guest040616]

Originally Posted by IIFFOFRDB

I don't have to read it. I knew that was coming...fuck

Fine! Why don't the two of you collectively withdraw from your 401k's the combined $7.21 and take a trip to Beautiful Downtown Damascus!

I hear the weather is quite nice this time of year!

[IIFFOFRDB]

Originally Posted by bigtex

Fine! Why don't the two of you collectively withdraw from your 401k's the combined $7.21 and take a trip to Beautiful Downtown Damascus!

I hear the weather is quite nice this time of year!

Could you at least peel the Dukakis stickers off your Subaru...fucker

[Guest040616]

Originally Posted by IIFFOFRDB

Could you at least peel the Dukakis stickers off your Subaru...fucker

If I had a Dukakis sticker, I would have to "peel" it off of my Chevrolet PU that has a UAW nameplate in the door.

[acp5762]

Iam already retired. My retirement benefits are from the State of Louisiana. I am not sure of the logic behind taking someones retirement benefits. Especially after I've spent over 25 years of my life in career which I feel contributed a great deal to the community. I worked as a Forensic Lab Tech. I've worked since my retirement a little here and there but nothing quite as complicated and stressful as what I was doing. So he apparently doesn't honor our contributions for long term career commitment.

[CuteOldGuy]

BigTurd obviously has no retirement from his lifelong career as Senior Fry Specialist at McDonalds, but those of us who do have a right to be concerned. The government will take away what we've earned, and then dole it out to us as we need it.

Hmmm . . . From each according to his ability, to each according to his need. Where have I seen that before.

[fishingtwo]

I like the statement that it is unfair to the poor. I guess if your poor you do not have a job and unable to contribuite to a 401K. That is the way the government is making it sound. So they are gonna step in and take away this option for the working class. WOW

[fishingtwo]

The next step will be going after state pensions.

[acp5762]

Originally Posted by fishingtwo

The next step will be going after state pensions.

He better buld a bunch of new jails, cause he's just going to create a bunch of new criminals like himself.

[CuteOldGuy]

Originally Posted by acp5762

This sounds totally illegal.

When has that stopped Obama?

[Guest040616]

Originally Posted by CuteOldGuy

When has that stopped Obama?

The more appropriate question would be, "when has that stopped" StupidOldFart from repeatedly making stupid posts?

I suppose that is part of StupidOldFart's charm!

[CuteOldGuy]

Do you think it is stupid to tell people that Obama wants to take away their retirement plans? If so, you are completely ignorant, BigTurd. But that is not a surprise.

[Guest040616]

Originally Posted by CuteOldGuy

Do you think it is stupid to tell people that Obama wants to take away their retirement plans? If so, you are completely ignorant, BigTurd. But that is not a surprise.

Personally, I don't waste my time worrying about when the sky will finally fall!

I will leave that dubious task to you and your fellow Idiots!

[CuteOldGuy]

Typical Obamaton. Obviously, you are quite content to live off the labor of others. BigTurd, you are an embarrassment to Texas, and the United States. But as long as you got your Obama phone and Obama money, you'll be fine. Try to thank the people that earned it for you, at least once in a while.