"death tax at 55% and now moving to nationalize 401k and IRA's and force you into tbonds worth nothing as they steal your cash" Tim Harrington
It may be time to take the tax hit and withdraw funds from private retirement accounts before they are forced into long term T-bonds.
The Obama administration is reportedly quickly moving on plans to nationalize private 401k and IRA retirement accounts, and replace them with government sponsored annuities(aka Treasury bonds that the Treasury currently can’t sell to anyone but the Fed).
National Seniors Council Director Robert Crone warns: “This whole issue is moving forward very quickly. Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.“
All your retirement savings are belong to us:
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.
The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”
A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a “government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation).” She proclaimed that even &ldquorivate annuities are problematic.”
Such “reforms” would effectively end private retirement accounts in America, Crone warns. “These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system.”
Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.
“This whole issue is moving forward very quickly,” warns Crone. “Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.”
Please realize that this is 100% about funding $1.5 TRILLION annual deficits using Americans’ retirement funds, as there is simply no other remaining pool of wealth able to soak up $1.5 Trillion in T-bills annually.
What a worthless greedy bastard!!!!!!!
My husband just changed jobs and we are about to roll his 401k into an IRA
Bit the Bullet,you earned it,you use it,if turns out,no ,or clered up Problem,you can then make a new one.
Or-let it be Stolen,& the Thief Kick YOU In Your Face Laughing while they do it,then sign your Death Warrent or not bother with even that type "Warrant"
Come to Gault's Glutch,& Leave:Them"_NOTHING<Pluse Remove Every single Thing already present,for cash,ONLY Under The Table,as Gifts,to those it is warranted to,who Credit you as a Human,or /DESTROY IT,you can always get it again-they have to have you have it,as they only attempt to get you to allow their theift. Do NOT allow it! You do have the Power,the Power of Being,an American,even those not born here,if Living In The "Spirit of America.
Well, I would not hold much store in my Candian bonds being worth the paper they are written on outside of Canada and if you have bonds in America they are probably just as worthless for sure.
He does intend to raise revenue by taxing what you saved but then he DID say he was for the middle class American right? Yeah right .....
I predict an ecnonomic upheavel,another Great Depression,21st.Century style,in the coming 4 years.Sad,but very possible,
Brother,can you spare a dollar,or two?
How about a couple thousand Ancil!? In 4 years time that is about what a buck or two will be in comparrison when it comes time to what something will cost!
Your right,Brother,can you spare a thousand???
For tho!se of all Nations,willing to Care For themselves 7 those that look to them,to self pre prepare,joinging legal militas,joining Committees of Saftey & Corraspondance,selling IRA's,bonds & their like for hard coin currency of known holding vlaue such as the Canadian Maple Leaf,like,but better localy known for it's worth than South African Kuggerand's.
Those wanting to know how to move money legaly but exstremly FAST,PM me please,WARNING,it can be done,is legal,but is hard to setup!
Best of all,YOU,Alone,Are Fully In Control,though one aspect of it requires careful watching that ones chance to act not be lost,though if lost,Gov will NEVER Benifit from it!
Non Sheeple,Those In Love,with Freedom,Self Worth,as worth of & for others,are American's In "Spirit",no matter where born-welcome,come join,but be prepared:To F I G H T For It!
"He does intend to raise revenue by taxing what you saved but then he DID say he was for the middle class American right? Yeah right ....."
Our savings does get taxed and it has ever since I've been paying taxes.
As for the retirment thing. This has been going around since 2010 and is false.
CHECK THE SOURCES, IT IS TRUE!
The source is a blog designed to sitr the pot. I have gone to credible sources reporting news rather than blogging and it is not true.
Has anyone here had their 401k confiscated? Or an IRA? If the allged change happend in 2010 as has been reported in some of these blogs, you'd wouldn't have those accounts anymore.
Nancy..Can you show us YOUR reputable sources!?
if it was ever false,it is not false now that that one no longer can run for that office even thru decite.
Only because this illegal thus non Congress as thus far allowed the creture to go unchecked,but could have had the People's Will to help in this
Now,only same Congress can check it,unless the People deal with both using the Founding Documents Steps.
It is fully legal,but it is not going to be "Pretty"!
It does appear now,to be-Required.
Just the fact that the liar in chief is still in the White House is not pretty!!! I think as a nation we could with stand whatever it is that needs to be done in order to get the lying fraud out of the White House!!
Peophe here need to take a pagefromthe people in Argentina,their transportation in Buenos Aires and sorrounding areascame to practically stop and other services in protest to the president not dlivering what she had promised when she was elected! People are jobless, etc. sound famikiar? they are doing something about it! Will the sheeple here in this country dare to do that and come together in protest of Obama and his broken promises?
If it would do any good Ivy I would be right there next to the others in line! It appears there is so much criminal activity in this administration that the end of lies has no end to them!! Something has got to change!
Carol, I am not talking about the administration, I am talking about the people in this country to rise up just like the peoplein Argentina against the government.
Taking "In God We Trust" off of the U.S. coins.............Just as Europe went over to the Euro, Canada, America and Mexico will adopt the Amero as a currency..............And now this!!
Set us straight, Nancy!!
""The source is a blog designed to sitr the pot. I have gone to credible sources reporting news rather than blogging and it is not true.""
America is one of the best at dealing with protesters while refusing anything they do not themselves want,& even so of that if it would seem to be others getting them to change to it,pre wanted by them or not.
All the protest needed per Founding Documents as been already properly done& those along with anyone new doing that just place themselves on watch & target lists,along with ervery single other person they associate with,even those several steps totaly removed & unknowing of these contacts.
Shut downs still do work,but need to be well & continiously organized & very large numbers in both people in places & many places regardless if & how gov moves againest them violently.
Gov.,knowing this,may have created a False Flag setup in the u s mass movements or attempts at more of those same in these last years,which gives gov control of them& vents thier motivating factors that make them successful out of the general public when the gov versions are disappated.
Time Lines:To move forcefuly againest the People,they must be disarmed before hand,& the timeline for non health care has a publicly disclosed time frame already.
Per Founding Documents,if current indviual in Office remains there any portion less than two years,the Vice Office holder can not run for Office more than once for itself,=-06-years total in Office.
At one time,2nd in Line might have been quaified-no longer,& i for one,would like to know whom is legaly next in legal sucession,due to Malfiesance in Office,aiding & abetting Treason,self Treason,Forsworn of their Oauths of Office,forsworn of the Founding Documents.
Prayerfuly:Enimies puck the single or small groups weaker than themselves. Truth:elitia's are fully legal,join you local legal Militia today& Pray,that you not remain Prey while training. Time,is short. Pax,But NoT,At Any Price! Paxariebellium!
The Un American Euro is one but the lesser money problem. Fully Electric Money & there systems is the bigger one,likely being heald as a surprise,but some of us know this has already been around for years-enough to have not only whole banking systems but also miltipul whole Stock Exchanges based upon them.
Truth,this is no drill. To use these,one must create a squeaky clean,high security tight computer & accociated subsystems.
Those wishing more info,please frined link me & be prepared to give me your non care2 e-mail address. Fair warning,this will be a lot of knowelege & hard work,but can be done,though contrary to what the public is told-and it is all fully LEGAL!