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Old 11-15-2012, 16:50   #1
DonGlock26
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Obama Begins Push for New National Retirement System

Obama Begins Push for New National Retirement System

http://www.nationalseniorscouncil.or...rity&Itemid=62

If this is true, it will not end well.
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Old 11-15-2012, 16:56   #2
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Quelle surprise.

By turning private retirement investing into a SS-like payroll tax, the government will instantly have more "tax revenue" coming in that they can immediately spend on FDR-style spending programs.
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Old 11-15-2012, 17:03   #3
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Quelle surprise.

By turning private retirement investing into a SS-like payroll tax, the government will instantly have more "tax revenue" coming in that they can immediately spend on FDR-style spending programs.
I would be temped to take the tax hit and get my money now. But, then the gov't would get a sudden pay off of a 10% early withdrawal penalty on top of 25% on all the early withdrawal money. Presto! Obama's debt issue/budget looks better. That states would get some too.
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Old 11-15-2012, 17:35   #4
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Anyone surprised by this?
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Old 11-15-2012, 17:38   #5
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Anyone surprised by this?
No....
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Old 11-15-2012, 17:42   #6
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With all the taxes and now the looming confiscation of retirement accounts, can we all agree that we would be slaves for the state?

When are people going to say enough is enough?
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Old 11-15-2012, 17:45   #7
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When are people going to say enough is enough?
When the food runs out in government run camps that will replace cities.
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Old 11-15-2012, 17:51   #8
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the establishment of government-sponsored annuities that would take the place of 401k plans.
They will take all the 401k money, and start handing it out in a way they deem fair.

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Old 11-15-2012, 17:54   #9
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"401k and IRAs are unfair to poor people".

Yep, this is what's coming, folks. None of it is YOUR money any more. It's THEIR money for distributing to the masses.

The good news is there is no chance in hell of this happening for at least a few years.

Instead of cashing out your 401k or IRA, if you can take a loan you may want to consider doing that. The day is coming when unless you're holding it in your hot little hands, you don't really own it at all, or you won't have access to it. And even physically holding dollars will be a joke because of the devaluation that is going to have to happen.

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Old 11-15-2012, 17:54   #10
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Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
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Old 11-15-2012, 17:55   #11
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This would leave the middle income earners totally dependent on the government.
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Old 11-15-2012, 17:59   #12
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This isn't anything concrete, just people jumping the gun and whining before it becomes a serious matter. Don't like it? Talk to your congressman/woman, not to us. We can't do **** about it. Spending your time actually talking to people who can fix it would be best.
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Old 11-15-2012, 18:00   #13
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Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
I doubt it. The socialist party keeps bringing it up for discussion, that means they are interested in the idea.
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Old 11-15-2012, 18:20   #14
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Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
In case you haven't noticed, the .gov is 16 trillion in debt and running 1.5 trillion+ deficits. It's, for all intents and purposes, broke.

There are trillions of dollars tied up in private accounts, you can't be naive/foolish enough to believe that .gov isn't interested in that money. The .gov of argentina nationalized retirement.

There have been meetings on this very subject since 2009.
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Old 11-15-2012, 18:52   #15
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I am convinced of one thing- if the socialist governments we have known could see a source of money in the private sector, they could devise a method to get it.

What we are watching unfold is precisely that; a socialist government. We have government health care, government education, why not government retirement, government food allotments, and then limitations on the vehicles we can drive and how many kids a family can produce? FAMILY? Whut's thet?
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Old 11-15-2012, 20:13   #16
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Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
Because it would be out of character for BO and his ilk to meddle with the private sector?

Or because the left has no desire to control something like retirement income?

Or because the .gov doesn't need/want a few trillion dollars?

Precisely *why* is this report BS?
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Old 11-15-2012, 20:36   #17
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Originally Posted by 427 View Post
With all the taxes and now the looming confiscation of retirement accounts, can we all agree that we would be slaves for the state?
Nearly there now- those of us that still pay taxes, that is.

Quote:
Originally Posted by 427 View Post
When are people going to say enough is enough?
Given the apparent change in our national ethos- Never.

As long as there are those who feel that they can get something for nothing and let someone else foot the bill this'll go on.

Heck, look at much of the EuroZone- many of those governments are running far worse deficits than we are, they don't have the economic resources we do, and the masses are still demanding that the unsustainable spending continue.

I have begun to wonder if I somehow entered a parallel universe and this is the Bizarro version of the industrialized nations of Earth...
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Old 11-15-2012, 20:39   #18
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The choice for the majority of voters will be no Social Security or save Social Security by taking the retirement accounts of others.

The takers reelected Obama proving they will take everything you have.
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Old 11-15-2012, 21:05   #19
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Here we go.'08.
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Old 11-15-2012, 21:05   #20
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Quelle surprise.

By turning private retirement investing into a SS-like payroll tax, the government will instantly have more "tax revenue" coming in that they can immediately spend on FDR-style spending programs.
Other scenario is that when the world finally cuts off the Fed, the confiscated savings would quietly pay off a good chunk of what's owed to prevent an economic collapse/hyperinflationary period and allow reckless spending to continue. Either way, SS would be inexplicably broke again in a decade or two.
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