Remember back in Feb/Mar of this year when the Gunny discussed the Mullah O Administration’s idea to take OUR IRA’s/401K’s, etc, and roll them into a thing called a Lifetime Retirement Option or some other fun sounding name that would disguise the tyrannical money grab? Well guess what, the ProgStats (Progressive Statists) are considering it for real now.
EXCERPT: "It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.” The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration. I don’t like speaking in tabloid-style terms, but the unstated agenda of these hearings, as I understand it, is to push for the US government to eventually nationalize (confiscate) all assets in private Individual Retirement Accounts (IRAs) and 401K plans! The US government is desperate to get its hands on private assets to help cover soaring budget deficits and debts, and this is simply the largest and easiest piggy bank that could be seized. The Investment Company Institute estimates that at the end of 2008 that there were $3.613 trillion of assets in IRAs and $2.350 trillion of assets in 401K plans."
According to the Investment Company Institute, there is over 7 TRILLION dollars in PRIVATE retirement funds. Hmmm. Like the gold grab done in the 30’s by the socialist pissant FDR, Mullah O and his CommieCzars can just…take the money and run. SEVEN TRILLION? Why, think of all of the GOOD they can down with that money. Pay off China. Buy votes. Fund union retirement plans after forcing everyone through card check to be a union member. Buy votes. Fund illegal aliens into this nation by giving them GPS cell phones to guide them to water and shelter. Oops, the Gunny's bust, they’re already doing that through La Raza, etc. Buy more votes. More date nights at the White House. More trips for Moochelle to go to Spain and then tell us to sacrifice at home. (New war on salt by the First Wookie now, BTW.) The Constitution be damned.
Oh yes, the desire of the Keynesian Statists to simply take that money much be worse than BJ Bubba’s needs when standing in a room for of fat chicks or Michael Mooreon's hunger when standing in a Mickie D’s lobby!
Knowledge is power my fellow patriots. Should we have a plan in place to withdraw our money from these plans, take the tax hit, and at least have SOME of our money? We may well have to. BTW, the government’s plans are to give us some kind of bond plan that pays 3%! THREE PERCENT? As the Gunny’s father would say, “in a pig’s ass.” Hell, the Gunny gets a better CD rate!
HOW could this happen? Lies from the Left, as usual.
The Employee Benefits Security Administration (EBSA), a part of the Department of Labor, is promulgating the usual fear mongering lie from the Left (a departure from the days when it was “Republicans will steal your Social Security…”) with this bullsqueeze:
"how to help reduce the chances that workers will run out of funds during their retirement years."
Yes libs, FIX what ain’t BROKE. Funny how IF the economy was chugging along W/O Keynesian interference, our 401K’s, IRA’s, investments, etc, would be chugging along as well. If the damned unions did not use their retirement pensions to fund Crime Inc candidates (formerly known as Democrats), THEY'D be fully funded. This tyranny would not even be considered (except in liberal's wildest wet dreams). Lies and strawman claims, that all the Left is good for. Oh, and get this, under this plan, when you die, your heirs DO NOT inherit one red cent. Kinda like how they've rigged the Ponzi Scam of Social SUCKurity. (Which the Left has run well) Of course the ProgStats will have THEIR trust funds for their kids, bet on it.
You can bet that Cass Sunstein, who Beck rightfully calls the "most dangerous man in America" will help the government “nudge” us into this choice since he is an expert on “nudging.”
Americans went to war over taxation without representation. Will they stand for a naked money grab ala Argentina, in order to fund these Keynesian bastards do-gooder schemes?
http://www.dol.gov/ebsa
http://www.dol.gov/ebsa/newsroom/2010/ebsa082610.html
http://news.coinupdate.com/us-departments-of-labor-and-treasury-schedule-hearing-on-confiscation-of-private-retirement-accounts-0431/
Looks like an attempt to make us all wards of the government whether we want to or not.
ReplyDeleteAs Cuba, Russia and China move toward capitalism, it looks like Obamaville wants to rush headlong into communism.
Pack Rat,
ReplyDeleteI cannot even THINK that this regime would resort to seizing our money like that. I STILL can't believe that Americans allowed FDR to seize their gold. I would have NEVER turned in my gold. F THAT! If this even goes to the House as a bill, I'm closing all of my accounts and withdrawing the money. I have to check to see if you can roll 401K's/IRAs, etc, into a CD. If so, there is my exit strategy.
Right on Gunny !!!!!
ReplyDeleteAnd you can bet your bottom dollar that Imam O, is making his. It is reported that he has a new book out.."Of Thee I Sing", a letter to my daughters by Barack Obama. He signed a contract to get 1.9 million dollars. Doesn't it make you want to gag?
I still wonder if he pays taxes!! HE sets in his White House and thinks of ways to take everyone elses money, while raking in millions.
Maybe he will grow a beard and start wearing a uniform. Or perhaps he will start wearing a jump suit (gray of course) But really, he looks more the large moustashe, overcoat, andblack hat, shooting a rifle in the air, type to me.
Nanna,
ReplyDeleteI wonder if Ayers ghostwrote this book as well. What an absolute fraud Mullah Obama is.
when are the good, honest people (us), going to rebel? these freaks in the white house are trying to destroy everything we have worked for...what are we going to do about it?
ReplyDeleteOne word. Offshore. Starve the beast,hide the money,do NOT pay a DIME in taxes you do not have to. Eff'em.
ReplyDeleteAnon,
ReplyDeleteI have no idea but only 49 days until the SECOND REVOLUTION happens. Once we boot these vermin out, we can work on ousting Mullah O and his cabal of scumbags. It'll take a lot of work but "WE CAN" retake this nation and return it to its former REPUBLIC traditions.
Clyde,
ReplyDeleteIf you have suggestions, hit my email add.
Say it in writing....if you have a t-shirt idea you want made, to beclown the flaming libtards who are bankrupting my kids, let me know...
ReplyDeletehttp://tommyjstees.spreadshirt.com/
Oh, man. Those weasels would steal a half dollar off a dead man's eye. They would put the carnie hustler and pickpocket to shame.
ReplyDeleteWho was it that took the silver out of our coins?
Why I do believe it was a Democrat!
Who tapped into Social Security funds?
Why I do believe it was a Democrat!
Any and every dollar laying around they would steal and send you the bill for stealing it...
Buck,
ReplyDeleteYou got it right brother. I think liberals pass up sex to dream up money stealing schemes.
Kind of reminds me of how Stalin would take food from farmers in Ukraine while the Ukrainians starved to death. I think they called it "successful management."
ReplyDeleteI see more and more parallels each day. Can't wait till November to stop that trend.
Eric,
ReplyDeleteMe too. I'm looking for a way to yank my cash when and if this happens. Better 70% than 0%.
Be careful though.
ReplyDeleteA former co-worker thought he was going to cheat Uncle Sug, and was squirelling away every penny he could in a bank in Montery, Mexico.....then they devalued the peso.
Pack Rat,
ReplyDeleteIf I pull all of my money out, I'll likely buy silver and invest in my house.