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11-15-2012, 15:50
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#1
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Retired
Join Date: Jan 2001
Posts: 104,673
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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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Think about it. Obama denied 30+ Americans fighter jet support in Benghazi. If not for a few brave Navy SEALs, they would have all been captured, raped, tortured, and beheaded by Al Qaeda.
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11-15-2012, 15:56
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#2
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Senior Member
Join Date: Feb 2009
Location: Georgia
Posts: 5,244
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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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Fear the government that fears your guns.
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11-15-2012, 16:03
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#3
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Retired
Join Date: Jan 2001
Posts: 104,673
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Quote:
Originally Posted by GAFinch
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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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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Think about it. Obama denied 30+ Americans fighter jet support in Benghazi. If not for a few brave Navy SEALs, they would have all been captured, raped, tortured, and beheaded by Al Qaeda.
Last edited by DonGlock26; 11-15-2012 at 16:04..
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11-15-2012, 16:35
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#4
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Stop Obammunism
Join Date: Sep 2004
Location: Hilton Head, SC
Posts: 4,789
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Anyone surprised by this?
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Molon labe
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11-15-2012, 16:38
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#5
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LongTerm Food
Join Date: Aug 2010
Location: NC
Posts: 4,809
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Quote:
Originally Posted by Hef
Anyone surprised by this?
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No....
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11-15-2012, 16:42
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#6
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武
Join Date: Nov 2009
Location: KUMSC
Posts: 6,564
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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?
__________________
Death twitches my ear. "Live," he says, "I am coming."
Virgil, Minor Poems
Enjoy yourself. It's later than you think.
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11-15-2012, 16:45
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#7
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Senior Member
Join Date: Oct 2012
Posts: 2,519
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Quote:
Originally Posted by 427
When are people going to say enough is enough?
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When the food runs out in government run camps that will replace cities. 
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11-15-2012, 16:51
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#8
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Senior Member
Join Date: Sep 2002
Posts: 6,539
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Quote:
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the establishment of government-sponsored annuities that would take the place of 401k plans.
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They will take all the 401k money, and start handing it out in a way they deem fair.
Last edited by G17Jake; 11-15-2012 at 16:51..
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11-15-2012, 16:54
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#9
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Senior Member
Join Date: Sep 2009
Location: U.S.A.
Posts: 13,465
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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.
Last edited by cowboy1964; 11-15-2012 at 16:58..
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11-15-2012, 16:54
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#10
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Senior Member
Join Date: Dec 2011
Location: North Georgia
Posts: 941
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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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HELP WANTED: Blonds, redheads and brunets. Must be able to change flat tire.
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11-15-2012, 16:55
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#11
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Senior Member
Join Date: Sep 2002
Posts: 6,539
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This would leave the middle income earners totally dependent on the government.
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11-15-2012, 16:59
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#12
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Senior Member
Join Date: Oct 2012
Posts: 2,519
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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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11-15-2012, 17:00
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#13
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"Cracker"
Join Date: Feb 2009
Posts: 10,716
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Quote:
Originally Posted by ColdSteelNail
Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
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I doubt it. The socialist party keeps bringing it up for discussion, that means they are interested in the idea.
__________________
No one's life, liberty or property is safe while the legislature is in session- Mark Twain
If voting changed anything, they'd make it illegal
Emma Goldman
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11-15-2012, 17:20
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#14
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武
Join Date: Nov 2009
Location: KUMSC
Posts: 6,564
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Quote:
Originally Posted by ColdSteelNail
Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
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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.
__________________
Death twitches my ear. "Live," he says, "I am coming."
Virgil, Minor Poems
Enjoy yourself. It's later than you think.
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11-15-2012, 17:52
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#15
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Senior Member
Join Date: Nov 2002
Location: USA
Posts: 22,095
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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? 
__________________
Life member: LEAA, NYSPRA, GOA, JPFO, Endowment Member NRA, NRA Legion of Honor
***********
"The further a society drifts from the truth, the more it will hate those who speak it."- George Orwell
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11-15-2012, 19:13
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#16
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Lifetime Membership
Senior Member
Join Date: May 2003
Posts: 19,710
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Quote:
Originally Posted by ColdSteelNail
Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
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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?
__________________
"To spit on your hands and lower the pike; to stand fast over the body of Leonidas the King; to be rear guard at Kunu-Ri; to stand and be still to the Birkenhead Drill; these are not rational acts. They are often merely necessary." Pournelle
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11-15-2012, 19:36
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#17
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Senior Member
Join Date: May 2012
Posts: 799
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Quote:
Originally Posted by 427
With all the taxes and now the looming confiscation of retirement accounts, can we all agree that we would be slaves for the state?
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Nearly there now- those of us that still pay taxes, that is.
Quote:
Originally Posted by 427
When are people going to say enough is enough?
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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...
Last edited by M 7; 11-15-2012 at 19:37..
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11-15-2012, 19:39
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#18
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Senior Member
Join Date: Oct 2007
Location: Pennsylvania
Posts: 3,074
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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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11-15-2012, 20:05
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#19
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Silver Membership
Watcher.
Join Date: Jun 2007
Location: Acme proving grounds.
Posts: 23,602
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Here we go.'08.
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I'd rather be judged by 12 than carried by 6
If you look like food,You will be eaten.
Rip Chad.You will be missed.
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11-15-2012, 20:05
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#20
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Senior Member
Join Date: Feb 2009
Location: Georgia
Posts: 5,244
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Quote:
Originally Posted by GAFinch
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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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.
__________________
Fear the government that fears your guns.
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11-15-2012, 20:12
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#21
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Senior Member
Join Date: Jul 2009
Posts: 4,818
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Quote:
Originally Posted by cowboy1964
"
Instead of cashing out your 401k or IRA, if you can take a loan you may want to consider doing that.
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There aren't loan provisions against IRAs, only 401ks if your employer allows them. If you have a loan against your 401k amd leave your job, you have a short window to repay it before the IRS considers it a distribution, and taxes/ penalizes accordingly.
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11-15-2012, 20:40
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#22
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Senior Member
Join Date: Apr 2012
Posts: 1,473
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Quote:
Originally Posted by ColdSteelNail
Complete and total bs. This is being passed around inside that bubble that most conservatives never see the outside of.
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Some people will believe ANYTHING.
Posted using Outdoor Hub Campfire
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11-16-2012, 03:31
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#23
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Senior Member
Join Date: Jan 2005
Location: North Little Rock, Arkansas
Posts: 988
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How could his supporters retire, the majority of them don't have jobs to retire from.
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11-16-2012, 04:31
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#24
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You're Good!
Join Date: Sep 2009
Posts: 9,614
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Ok, lets stop the scare tactics. Correction:
Obama DOES NOT begin push for new national retirement system.
This is a bunch of hooey from an advocacy group.
Problems:
Not new. This is a little scary, but it was floated about 4 years ago just after he was first elected. Some lefties in congress mouthed off on the floor of the House about it.
Even in the then dem controlled congress it did not make traction.
And more importantly, NOW…
We've got divided government. He can't do it unilaterally. Has to come from Congress and so its a non starter. Calm down.
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11-16-2012, 04:51
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#25
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Platinum Membership
Wakeup America!
Join Date: Apr 2012
Location: NE Ohio
Posts: 1,213
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This is insane. The government has no damn business managing my money. These people can go to hell. They just want to get my retirement and redistribute it.
"Not fair to the poor"? Well let's see... if you don't put any money into a savings account you can't get any money out. Is that fair?
If there's one word of sick and tired of in our political discourse it's the word "fair".
__________________
· A billion seconds ago it was 1980.
· A billion minutes ago Jesus was alive.
· A billion dollars ago was only 1 hour and 23minutes, at the rate our government is spending it.
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