Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts | |
YaRight User ID: 33664858 United States 02/05/2013 09:48 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People who actually believe they are getting their 401k etc. deserves to have them taken Quoting: Anonymous Coward 29081478 Try to comment on things you know something about. People are retired and getting payments from 401K right now and have been for a long time. It’s the “one” retirement system that works and you know why it works? Because the Gooberment have nothing to do with it…for now anyways The most terrifying words in the English language are: I'm from the government and I'm here to help. |
EndTheFed User ID: 1656381 United States 02/05/2013 09:51 AM Report Abusive Post Report Copyright Violation | |
ceawaves User ID: 28704314 United States 02/05/2013 09:53 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 21709846 Netherlands 02/05/2013 09:55 AM Report Abusive Post Report Copyright Violation | |
Alexander User ID: 15635858 United States 02/05/2013 09:57 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts We're sick of this shit and are planning to take it out of the 401K, take the tax hit and purchase gold coins. Back in 2006 a hard lesson was learned when putting 1k in a savings account at 3.4% interest - seven years later that 1K only earned $153 because they kept dropping the interest rate down to eventually .02%. In 2006, could have purchased 2 one-ounce gold coins for $560 apiece and tripled the investment with gold being over $1678.45 now. Savings accounts are a rip-off. Looks like the 401K may be headed down the same rip-off road. The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. Winston Churchill Daily Updates Thread: ASS IS IN THE WRINGER - Rolling Updates from 11/16/20 to present (Page 316) |
Anonymous Coward User ID: 171378 United States 02/05/2013 10:02 AM Report Abusive Post Report Copyright Violation | |
EndTheFed User ID: 1656381 United States 02/05/2013 10:09 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye. Quoting: EndTheFed He's gonna get to that soon enough.. remember his claimed father believed EVERYTHING belonged to the State.. Yea I remember, seems like there's no way to hide. One of my coworker's dad buries his gold but im sure they'll want that too once they find out how you're buying food & other necessities. I was just thinking you can hold your earnings a lil longer if you have em in your possesion than having them taken quicker in a bank/bond/stock/401 ect. |
Anonymous Coward User ID: 16648993 United States 02/05/2013 10:15 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts Obama: 'No doubt' we need more taxes Quoting: DoorBert US President Obama on Sunday insisted that the nation needs additional tax revenue, some of which the government could acquire by closing or reducing loopholes and deductions. “There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” the president said in an interview aired on CBS. “And we can do it in a gradual way so that it doesn’t have a huge impact.” Obama suggested raising revenue through an overhaul of the tax code, which would include closing or tightening unspecified “loopholes” and deductions. “If you combine those things together, then we can not only reduce our deficit but we can continue to invest in things like education and research and development that are going to help us grow – without raising rates again,” Obama said. [link to rt.com] GOD FORBID GE PAY ANY TAXES!!! GE pays negative 4 billion in taxes. corporations arent above the law, they are the law. |
Anonymous Coward User ID: 18097125 United States 02/05/2013 10:18 AM Report Abusive Post Report Copyright Violation | |
Cosmic Traveler User ID: 7047508 United States 02/05/2013 10:20 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts Just wait...they're going to tax your employer contributions to your health care coverage. I understand from a thread yesterday that what we've paid for our health care now appears on the W2. I haven't look at mine yet... Hard tell'in not know'in |
Alexander User ID: 15635858 United States 02/05/2013 10:21 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts One ounce silver American eagles and one ounce gold vienna (euro) philharmonics are safe. The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. Winston Churchill Daily Updates Thread: ASS IS IN THE WRINGER - Rolling Updates from 11/16/20 to present (Page 316) |
Anonymous Coward User ID: 33704894 United States 02/05/2013 10:24 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 21700750 United States 02/05/2013 10:31 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts There is a legitimate fear this massive sum of $ could go belly up same as the 2008 crash. Then of course the public sector [government] would be expected to step in and cover losses. This is how our 'capitalist' system works, and it's what makes private financial services industry big $ and allows them to take big risks [gamble] for that big $. Americans can't grasp any emergency situation where the government wouldn't step in and cover financial losses of both private institutions like banks and individual citizens. The business model our 'capitalist' system functions with is based on this premise. But, this is not the case in many other parts of the world, specifically the 2nd and 3rd world, where it is common for 'investors' to not deliver as promised, or just outright steal, and the little investors money isn't backed up and guaranteed by their governments like it is here. |
Anonymous Coward User ID: 21700750 United States 02/05/2013 10:31 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts There is a legitimate fear this massive sum of $ could go belly up same as the 2008 crash. Then of course the public sector [government] would be expected to step in and cover losses. This is how our 'capitalist' system works, and it's what makes private financial services industry big $ and allows them to take big risks [gamble] for that big $. Americans can't grasp any emergency situation where the government wouldn't step in and cover financial losses of both private institutions like banks and individual citizens. The business model our 'capitalist' system functions with is based on this premise. But, this is not the case in many other parts of the world, specifically the 2nd and 3rd world, where it is common for 'investors' to not deliver as promised, or just outright steal, and the little investors money isn't backed up and guaranteed by their governments like it is here. |
Anonymous Coward User ID: 527834 United Kingdom 02/05/2013 10:36 AM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 33573199 United States 02/05/2013 10:40 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 2389752 United States 02/05/2013 10:46 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People who actually believe they are getting their 401k etc. deserves to have them taken Quoting: Anonymous Coward 29081478 People who actually believe they are getting their 401k etc. deserves to have them taken Quoting: Anonymous Coward 29081478 Um.... I know of a lot of people who have gotten their 401ks. Some became millionaires upon retirement because of their diligent and disciplined saving and investing---- this on a unions wages of around $50-$60k per year! |
Anonymous Coward User ID: 14779720 United States 02/05/2013 10:51 AM Report Abusive Post Report Copyright Violation | |
Ralph--a house dog User ID: 25802009 United States 02/05/2013 11:00 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts Obozo is oblivious to American thoughts and opinions (it is painfully obvious he is not American) although as a Communist he is bent on destroying us anyway. This needs to be openly opposed by the American pubic in as many ways as possible. Has anyone started a petition yet telling the government to keep their damn thieving hands off our savings? It should NOT be worded nicely either.... "Do Not Go Gentle into that Good Night.....Rage, rage against the dying of the light"-----Dylan Thomas HIS NAME IS SETH RICH [link to biblicalselfdefense.com] [link to forum.1111ers.blog] Always remember that "for the greater good" will not include YOU. "Who decides?" ---Robert A. Heinlein -'Whoever would overthrow the liberty of a nation must begin by subduing the freeness of speech.'—Benjamin Franklin [link to www.westcoasttruth.com] The only thing worth paying full retail for is pantyhose. You cannot do all of the good the world needs, but the world needs all of the good you can do. |
Mr. Toppit User ID: 26466623 United States 02/05/2013 11:07 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts Into the bankrupt black hole of the US government. Maybe thats why the North Korean video is so funny. We're burning thru cash faster than a rocket heading into outer space. |
Ralph--a house dog User ID: 25802009 United States 02/05/2013 11:08 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye. Quoting: EndTheFed He's gonna get to that soon enough.. remember his claimed father believed EVERYTHING belonged to the State.. Yea I remember, seems like there's no way to hide. One of my coworker's dad buries his gold but im sure they'll want that too once they find out how you're buying food & other necessities. I was just thinking you can hold your earnings a lil longer if you have em in your possesion than having them taken quicker in a bank/bond/stock/401 ect. That's for sure! You can use some of today's dollars to invest in tangible items you will need in the forseeable future such as sturdy shoes, tires, OTC meds, replacement parts for whatever. And get things checked out & repaired now, including your body. "Do Not Go Gentle into that Good Night.....Rage, rage against the dying of the light"-----Dylan Thomas HIS NAME IS SETH RICH [link to biblicalselfdefense.com] [link to forum.1111ers.blog] Always remember that "for the greater good" will not include YOU. "Who decides?" ---Robert A. Heinlein -'Whoever would overthrow the liberty of a nation must begin by subduing the freeness of speech.'—Benjamin Franklin [link to www.westcoasttruth.com] The only thing worth paying full retail for is pantyhose. You cannot do all of the good the world needs, but the world needs all of the good you can do. |
Anonymous Coward User ID: 961432 United States 02/05/2013 11:08 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts Been seeing this balloon floated time and again over the past 4 years. But I've got to question the fundamentals. How much money from these funds is invested in the stock market? It's obvious that the plan has been to inflate a bubble in the market, that's obvious when the market is approaching historic highs and yet the economy has entered another so called recession (4th 1/4 GDP was negative). If they force retirement accounts to hold treasury bonds, then they take an equivalent amount of liquidity from the stock market and a drop in prices. So, maybe they plan on tanking the DOW permanently and then confiscating the money. But, that $19 trillion would be roughly 1/2 or $9.5 trillion. Of course when the fed can print up any money I guess it doesn't matter to the morally challenged in charge. They can always sell out at peak prices and invest in hard assets like gold, property, etc. Again, your average person who spends most of their earnings on survival will pay the biggest cost. . |
Wanta10GA User ID: 19657578 United States 02/05/2013 11:16 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye. Quoting: EndTheFed Yep..you sure got that right! People should have all their hard assets (including any cash money) in their hands that they Physically Control IMHO! As for me I'M using some of my, soon to be worthless (Federal Reserve Notes) to buy more tools (aka-hard assets also). In the future if the SHTF (what ever the SHTF case is), I see tools being the future wealth IMHO! As most of us men who love working with their hands and etc know, tools are very damn valuable! |
Mr. Toppit User ID: 26466623 United States 02/05/2013 11:22 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye. Quoting: EndTheFed Yep..you sure got that right! People should have all their hard assets (including any cash money) in their hands that they Physically Control IMHO! As for me I'M using some of my, soon to be worthless (Federal Reserve Notes) to buy more tools (aka-hard assets also). In the future if the SHTF (what ever the SHTF case is), I see tools being the future wealth IMHO! As most of us men who love working with their hands and etc know, tools are very damn valuable! Soon we will be spending everything we earn. Who will be able to afford a 401k. |
EndTheFed User ID: 1656381 United States 02/05/2013 11:26 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye. Quoting: EndTheFed Yep..you sure got that right! People should have all their hard assets (including any cash money) in their hands that they Physically Control IMHO! As for me I'M using some of my, soon to be worthless (Federal Reserve Notes) to buy more tools (aka-hard assets also). In the future if the SHTF (what ever the SHTF case is), I see tools being the future wealth IMHO! As most of us men who love working with their hands and etc know, tools are very damn valuable! Getting the job done right requires the right tool(s). Very valuable indeed. |
Anonymous Coward User ID: 1070863 United States 02/05/2013 11:26 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 31907650 United States 02/05/2013 11:33 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts I dumped my 401K a few years ago. Like the Ponzi Social Security system, this investment scheme can and will implode sooner or later. They want this money, they will find a way to take it. Get out now while you can get something out of it. I embrace old school concepts. I raised my kids to respect their elders and understand the concept of family takes care of each other. Any of them are welcome back in my home should they want/need to come back. And I know that when it's time to retire, yes, they will take care of me too. I've walked the walk by illustrating this to them via how I've dealt with my parents in ensuring they have what they need in their retirement. That how it used to work and it worked fine. If you raised your kids right, there is no need to slave to the system in order to ensure you have a roof over your head and food in your belly in retirement. Think, too, of how much money goes into maintaining multiple homes within one family. If you have parents and three kids, for instance, reality today is there are five separate homes with all associated expenses in play. Is this necessary? No. Combine resources, pay Comcast once for service rather than five times, have one Verizon cell bill and utilize the family plan so kids are paying 9.99/mo for a phone instead of everyone paying $50-$100 for a phone. Things are going to get very difficult...be prepared to re-integrate the family unit to pool resources. |
The Right Policy User ID: 31219881 United States 02/05/2013 11:38 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts $100 says that THIS would start the revolution. lol Quoting: Anonymous Coward 1070863 they couldn't make a movie this good. unfortunately not. 0bama got elected AGAIN, which means we are truly a stupid bunch of morans The Right Policy is Always Conservative "The danger to America is not Barack Obama, but a citizenry capable of entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America . Blaming the prince of fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools, such as those who made him their President." - Vaclav Klaus |
Hard Eight User ID: 8668963 United States 02/05/2013 11:38 AM Report Abusive Post Report Copyright Violation | Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts I was watching this news story and they said guberment was concerned that retiree's were getting ripped-off by irresponsible financial institutions so guberment should step-in with their expertise. Give me a break! Laughable! Anybody equate gubt. with financial integrity? Texas has yet to learn submission to any oppression, come from what source it may. Sam Houston "The beauty of the Second Amendment is that it will not be needed until they try to take it." Thomas Jefferson If you don't read the newspaper you are uninformed, if you do read the newspaper you are misinformed. -- Mark Twain Giving money and power to government is like giving whiskey and keys to teenage boys. -- P.J. O'Rourke, Civil Libertarian |