Dems want 401(k) to be automatic for all

[joe_momma]

So many layers -
1) Gov't wants more people to save
2) Gov't (really really) needs to have new source of money to but T-bills
3) Gov't really wants the pain to be indirect to voters

http://thehill.com/homenews/administration/108319-dems-aarp-want-to-make-ira-enrollment-automatic

Folks, the nanny state must be destroyed - we've "nerfed" society so much that people have no concept of individual responsibility (or consequences).

[chad]

it would not surprise me in the least to wake up one day and find that overnight all 401k plans have been rolled in to a new national annuity plan.

[Hermie]

it would not surprise me in the least to wake up one day and find that overnight all 401k plans have been rolled in to a new national annuity plan.


Everything I've read over the last year, by people whose opinion I respect,
makes me believe that this is the plan.

Government wants to get hold of that money, replace it with IOU's.

I hope THE breakdown happens before they make that move.

God, the people in government are rotten bastards.
Two trainloads of tar and feathers is needed, and that would be for starters.

[chad]

i imagine that they want to do it, but can you imagine the uproar when people find out that uncle sam just scammed hundreds of thousands of dollars from them? people are slow and don't notice the money stolen from inflation, etc. but i imagine even they would catch on to "oh yeah, we took your fidelity account last night."

maybe this will be the straw that breaks the camel's back.

i imagine they'll have to engineer another huge crash to get this through, so they can keep your money "safe" for you.

[madfranks]

i imagine that they want to do it, but can you imagine the uproar when people find out that uncle sam just scammed hundreds of thousands of dollars from them? people are slow and don't notice the money stolen from inflation, etc. but i imagine even they would catch on to "oh yeah, we took your fidelity account last night."

maybe this will be the straw that breaks the camel's back.

i imagine they'll have to engineer another huge crash to get this through, so they can keep your money "safe" for you.


I don't think there would be too much of an uproar, the masses are already dumbed down beyond that. Most of them view US Treasuries as the safest investment in the world. Keep in mind that 99% of the people have no comprehension of currency collapse or what a fiat currency even is and to them the paper dollar and T-bills are gold. While they may get upset, they wouldn't riot over having their stock certificates turned into treasuries.

[Ragnarok]

Well... all I have to say is... if they want ME to have a 401(k), they'll have to fund it, because I certainly can't!

R. >:(

[Ares]

I saw this coming years ago, and quit contributing to my 401k. I can't close the account since I'm still employed by the employer I have it open under. So I just cut off funding it.

Never again will I put money into a 401K. What a complete and utter fraud.

[undgrd]

^^^

Same here. Stopped contributing 2 years ago. Took the tax hit and withdrew what I could. Remainder is just sitting there "earning" or "losing" 2% daily.
:oo-->

[Grand Master Melon]

I wish I had never fallen for the 401k scam. Once I realized how crooked it all was I tried to pull it out but found out it was more or less trapped in there so I instead took as much out as I could in the form of a loan which was my only option.

I stopped contributing when my employer did but I did manage to make about 10 grand when my company declared it was being bought out. That was kind of nice I suppose.

[silverchris]

Democrat=Progressive=Socialist nothing new here, next thing you know, they are going to start taking healthy organs from those that "can spare a kidney" for the benefit of society, no choice given.

[Carbon]

Comment from article:


yeah, save, save, save, because the money we stole from you under the guise of SS is long gone. The dems false concern about the people of this country is laughable. Wait till they confiscate all the 401 plans into a federal plan to bail out the useless unions again. Maybe I could save more if the Fed stayed out of my wallet!

BY Chip on 07/13/2010 at 07:54

He has quite a point.

My brother passed away last Dec. at age 45 - all the SS he paid into all his life went 'poof'... and .gov is getting a nice chunk of his 401K thru taxes to boot.

I agree - .gov is looking to nationalise savings.

On the flip-side, moron's have opinions too...



@CAROLYN: Ever hear of a SELF DIRECTED IRA? You can make whatever you want out of an IRA…even a ROTH IRA. And "stealing more money from taxpayers"??? What are you talking about??? Perhaps you are a Libertarian who is ARGUING THAT IT IS YOUR RIGHT TO WANT TO BE POOR THE REST OF YOUR LIFE??

BY Darlene on 07/13/2010 at 07:17

[gunDriller]

it would not surprise me in the least to wake up one day and find that overnight all 401k plans have been rolled in to a new national annuity plan.


which is managed by the same group of criminal bankers that f*cked the US economy in the first place, via fraud related to credit derivatives.

[Ponce]

Hermie you are right........it is the same as when the Communist Party was form in Russia by the Zionists, it was not a matter of everybody being the same but to have everybody's money and property more handy.

[MNeagle]

Comment from article:


yeah, save, save, save, because the money we stole from you under the guise of SS is long gone. The dems false concern about the people of this country is laughable. Wait till they confiscate all the 401 plans into a federal plan to bail out the useless unions again. Maybe I could save more if the Fed stayed out of my wallet!

BY Chip on 07/13/2010 at 07:54

He has quite a point.

My brother passed away last Dec. at age 45 - all the SS he paid into all his life went 'poof'... and .gov is getting a nice chunk of his 401K thru taxes to boot.

I agree - .gov is looking to nationalise savings.




Sorry about your brother. Didn't he have any heirs? I always thought the heirs got SS if they were under 18.

[sunshine05]

I wish I had never fallen for the 401k scam. Once I realized how crooked it all was I tried to pull it out but found out it was more or less trapped in there so I instead took as much out as I could in the form of a loan which was my only option.

I stopped contributing when my employer did but I did manage to make about 10 grand when my company declared it was being bought out. That was kind of nice I suppose.



Why do you say that? I'm curious. With employer matching dollar for dollar up to 6%, I ended up saving quite a bit. I rolled it into an IRA when I quit working and have since switched it to EuroPAC. It's still growing nicely. I'm not sure what about it is considered a scam? And if you don't do 401K, what do you do to save for retirement?

[1970 silver art]

I do not contribute much to my 401K. I just contribute enough to get a company match. As for the gov't seizing 401K and IRA assets, it would not surprise me if that ended up happening. That is a chance that I take. I guess I am way too optimistic that this will not happen. The gov't "beast" is hungry and it needs more money to sustain itself. 401K and other retirement assets are ripe for the picking since there are Trillions of dollars in those plans.

[BabushkaLady]

I never had the "opportunity" to do a 401k. Mostly being self-employed, I did look at the Roth but couldn't bring myself to get into the Casino. I also never believed the "depost after tax dollars" then withdraw Tax Free from a Roth would last forever. That will be the next thievery IMHO.

They're going for a jackpot on this one.

[ximmy]

I never had the "opportunity" to do a 401k. Mostly being self-employed, I did look at the Roth but couldn't bring myself to get into the Casino. I also never believed the "depost after tax dollars" then withdraw Tax Free from a Roth would last forever. That will be the next thievery IMHO.

They're going for a jackpot on this one.


It's not a matter of what if.. its a matter of when... (confiscation occurs) I cashed out in April...

[Twisted Titan]

I never had the "opportunity" to do a 401k. Mostly being self-employed, I did look at the Roth but couldn't bring myself to get into the Casino. I also never believed the "depost after tax dollars" then withdraw Tax Free from a Roth would last forever. That will be the next thievery IMHO.

They're going for a jackpot on this one.


It's not a matter of what if.. its a matter of when... (confiscation occurs)




BINGO.........

[Phoenix]

it would not surprise me in the least to wake up one day and find that overnight all 401k plans have been rolled in to a new national annuity plan.


Well, there's the fix for Social Security.

"Fix" could have one of two definitions.

[Ponce]

I can just see 10 million people over 65 in wheelchair and walking with the aid of a cane raising hell infront of the White House and of the capitol building.

Remember that those over 65 have the controlling votes to decide who should be where.......anyway, is supposed to be that way.

[MNeagle]

I can just see 10 million people over 65 in wheelchair and walking with the aid of a cane raising hell infront of the White House and of the capitol building.

Remember that those over 65 have the controlling votes to decide who should be where.......anyway, is supposed to be that way.


In your honor Ponce:

http://homepage.mac.com/rcareaga/diebold/little_die/diebold_15a.jpg

[1970 silver art]

You either have your reserve assets in metals and cash at this point or you're just asking for it. ANYTHING not physically under your control is subject to government theft.


Yep that is true. Those "0's" and "1's" on the computer that represent those digital $'s in a 401-K savings account are subject to gov't confiscation. If the gov't does not seize it, then the inflation "tax" will gradually take it away from that person. Either way it is not good.

When the gov't needs money (when has it not needed money?) it will take it by any means necessary.

[chad]

when they want to "mandate" you in to giving up part of your paycheck to go into x, y, or z system, a whole bunch of red flags should go up.

go peruse the msn money boards. you'll quickly see why this will be portrayed as a GREAT idea by the msm.

sometimes i feel as if 'm the one eyed king in the land of blind people.