As I Predicted...Now They Are Going After Retirement Savings

Posted by fivedollargold 12 years, 11 months ago to Politics
6 comments | Share | Flag

Note that the link I posted in from 2008. The Obaminites are back. This time (2013) using the "fairness" argument. In 2008, one of the more amusing libtard arguments was that "humans lack the skill, discipline, etc. to manage a savings plan." Does this mean we let monkeys manage our savings?

All Comments

  • Comment hidden due to member score or comment score too low. View Comment
  • Posted by davidlaibow 12 years, 11 months ago
    The U.S. Treasury gave itself the power to confiscate financial property in early 2010, and President Obama issued an Executive Order in mid-2012, giving the Executive Branch to confiscate any privately owned private enterprise in the United States. I live in the Philippines, and I've Obama-proofed all my assets. Have you Obama-proofed all your assets? David Laibow, "davidlaibow1215[at]yahoo.com".
    Reply | Permalink  
  • Posted by khalling 12 years, 11 months ago
    It's really sad. In a time of economic uncertainty, people will mattress it. this is awful for economy, which is already hurting. so things will get worse because of it...
    they are such idiots!
    Reply | Permalink  
  • Posted by LionelHutz 12 years, 11 months ago
    Time is short. The way I see it, they will do one or two things.

    1. To avoid everyone withdrawing their money out of retirement accounts in a panic, they initial 'tax' on the accounts will be something substantially under the 10% early withdrawal penalty. Something on the order of 1% or 2%, and only on accounts exceeding a certain amount, say $1M. Then they will drive the first number up and the second number down over the years.

    2. They will raise the early withdrawal penalty crazy-high - like 25%.

    I've got to get to Texas first. My accounts are getting cashed out this year or next. My house is on the market now, and I'm hoping to start packing soon!
    Reply | Permalink  
  • Posted by $ rockymountainpirate 12 years, 11 months ago
    I'm out of all markets and cashed in all 401K's, and no 'savings' account. I'm not trusting any of the 'institutions'.
    Reply | Permalink  
  • Posted by fivedollargold 12 years, 11 months ago
    I'm not taking immediate action as long as the GOP holds the House. If the Dems regain control in 2014, we're screwed in many ways, and this is one of them.
    Reply | Permalink  

  • Comment hidden. Undo