This is a perfect example of the Democratic Socialist Party plans to steal America prosperity, take your money and your family inheritance


If you are a Democrat with an IRA / 401 Account are you OK with this agenda?

http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/articles/../2013/02/the_feds_want_your_retirement_accounts.html


I sure those of you on the entitlement path of socialist living are perfectly pleased, because the next step for you is demand your share of other wealth in which you have not earned….. But feel you deserve something for breathing the same air as those who have been producers and contributors of society.

This idea is kind of out there, but I might stop short of calling it an improbable scenario. But they don't have to come up with anything new and whacky, just tweak the existing tax code to due their confiscation - i.e. 70% tax rates on distributions over $50k, etc.. Down the road, a VAT or some sort of consumption tax is going to hit all that savings that has already been taxed once.

But it does all highlight one of the pitfalls of 401k - just how much should you be putting in there? We don't know what those future tax rates will be, and the way we are accumulating debt it might be a safe bet that those rates are higher for everyone. Nor is there any guarantee that they won't push those retirement ages out, incurring hefty penalties to start taking distributions earlier.

I'll bet BoatShoes will be sportin a woody when he reads the article. Especially this gem:

By 2010 Bloomberg published an article titled "US Government Takes Two More Steps Toward Nationalization of Private Retirement Account Assets." In that article Patrick Heller observed that, with Democrat control of Congress and the Presidency:[INDENT]n mid-September 2010 the Departments of Labor and Treasury held hearings on the next step toward achieving Ghilarducci's goals. The stated purpose was to require all private plans to offer retirees an option to elect an annuity. The "behind-the-scenes" purpose for this step was to get people used to the idea that the retirement assets they had accumulated would no longer be part of their estate when they died.
[/INDENT]So the Government would get the money, not the estate or family of the people who saved the money during a lifetime of work. That's a one hundred percent death tax on savings. Worse, the most responsible and poorest families will be penalized.

And it's still not a solution to irresponsible gubmit spending. You can expropriate that wealth once, and then there's no more piggy bank.

gut;1395753 wrote:And it's still not a solution to irresponsible gubmit spending. You can expropriate that wealth once, and then there's no more piggy bank.

Well, maybe they can try. If they come for my retirement savings, I'll expropriate some lead unto them.

BGFalcons82;1395766 wrote:Well, maybe they can try. If they come for my retirement savings, I'll expropriate some lead unto them.

you're racist

Where the fucking democrat on this topic ... What the hell reality set in that your Union saving and IRA is not yours and you did build it....

Coke Rules, Pepsi Drools! USA USA USA

BGFalcons82;1395766 wrote:Well, maybe they can try. If they come for my retirement savings, I'll expropriate some lead unto them.

I've got your back.

I suggest that every American have a list of Public Servants Government Offices and Home Address.
I know that 25 of the most dedicated Vietnam Vet do ...

That list, along with $2, will get you a cup of Joe at Starbucks. Otherwise, it's as worthless as the effort to compile it.

QuakerOats;1396057 wrote:I've got your back.

Reps and likewise for you, QO.

BGFalcons82;1396923 wrote:Reps and likewise for you, QO.

I got both of your backs with a support of 25 crazied and a little rusty skilled Vietnam Vets

Richard Cordray, head of the Consumer Financial Protection Bureau, supported by Asshole Sherrod Brown want your retirement 401/ IRA, leave you and your family nothing at the time of your death.

Richard Cordray and Sherrod Brown needs their home address posted.. so American Retired Citizen can visit on Saturdays.

Can’t happen ask those in Cyprus …. Democrat Socialist Party already has their idea on how to take yours.

http://www.foxnews.com/world/2013/03/18/cypriots-rush-to-pull-money-from-banks-as-eu-takes-aim-at-russian-deposits/

http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/articles/../2013/02/the_feds_want_your_retirement_accounts.html

Belly35;1408476 wrote: Can’t happen ask those in Cyprus …. Democrat Socialist Party already has their idea on how to take yours.

It's all the gubmit's money, anyway. They didn't earn that. They only had what they had in the first place because the gubmit allows them to keep it.

I mean, Pelosi said tax increases are spending cuts. There is absolutely no doubt that a number of people in Washington think at least some percentage (north of 50%) of your money isn't yours, it's Washington's.

The key difference, obviously, is they don't have to physically take money out of your account - they'll just print enough money to deflate your savings 10% or whatever. Wait, they are already doing this!

What is going down in Cyprus is truly scary. Tax your savings - can't withdraw due to banks being closed.

Manhattan Buckeye;1408910 wrote:What is going down in Cyprus is truly scary. Tax your savings - can't withdraw due to banks being closed.

Yeah it's almost unfathomable. The government literally just said "Yeah we're just going to take your money to help us continue to give poor people iPhones and cable televsion because they need it."

Sadly, with Obama in office, I could see this giving him a grand idea to give poor people stuff that they need.

Now they will attempt to tax bank deposits. This is the beginning of world goverment taking of citizens money. If this works in Russia next Europe and then the USA.

Is this the objective of the Bilderberg Group

http://www.nytimes.com/2013/03/20/business/global/cyprus-set-to-reject-tax-on-bank-deposits.html?_r=0

10% for accounts above 100k euros - that's not exactly an amount I'd consider "rich". But they are going to exempt accounts under 20k euros, so they remain committed to socialism to the bitter end.

Alternatively, is the 3.8% investment surtax tacked on by Obamakare really that different?

Calif. tax grab by the government ... as the America citizen money are being taken by government / politician tax grabbing agenda .. is this the beginning?

The deed of profit and prosperity becomes punishable by the government

http://www.foxnews.com/politics/2013/03/19/california-businesses-fuming-over-retroactive-120m-tax-grab/?test=latestnews

CA is an absolute mess. Businesses and wealthy taxpayers are leaving - but being the good liberals they are they will keep raising taxes, and getting less revenues as a result.

Consider this all the groundwork for a VAT. There clearly is growing support to get their claws into savings, but the only remotely politically feasible way to do that is a VAT - a sales tax essentially retroactively taxes savings. You've already taxed the income, so other than Cyprus the only way to get your hands on a bigger piece is to tax people again when they spend that money.

Not to re-hash this debate, but the FairTax people completely bastardized the research on the fundamental idea. Basically the economist whose work they cited - and I think Kotlikoff said this almost directly - proposed the idea of a national sales tax as a way of creating a deferred income stream to offset the massive deferred liabilities of our entitlements.

Belly35;1395660 wrote:This is a perfect example of the Democratic Socialist Party plans to steal America prosperity, take your money and your family inheritance


If you are a Democrat with an IRA / 401 Account are you OK with this agenda?

http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/articles/../2013/02/the_feds_want_your_retirement_accounts.html


I sure those of you on the entitlement path of socialist living are perfectly pleased, because the next step for you is demand your share of other wealth in which you have not earned….. But feel you deserve something for breathing the same air as those who have been producers and contributors of society.

As soon as I saw americanthinker I stopped reading. That rag is brain dead from the neck up.

Bigdogg;1409262 wrote:As soon as I saw americanthinker I stopped reading. That rag is brain dead from the neck up.

How about this article:

http://www.bloomberg.com/news/2013-01-18/retirement-savings-accounts-draw-u-s-consumer-bureau-attention.html

http://www.freerepublic.com/focus/f-news/2985824/posts

http://www.againstcronycapitalism.org/2013/02/the-government-wants-to-help-you-manage-your-401k/

Let's see...they're after your guns, they want to tax you to oblivion, set up death panels with their govt.-run health care program and now they are going to steal the money from your savings. Those have been the scare tactics since 2008 and so far none of your "sky is falling" predictions have come true. Or is it a case of "let's throw some shit against the wall, sooner or later something has to stick"?

"Those have been the scare tactics since 2008 and so far none of your "sky is falling" predictions have come true."

Pure sophistry. The "sky isn't falling" because people like us fought back. The original healthcare bill would have required a 1099 for each and every b-to-b transaction - a ludicrous requirement that would help no one and cause a massive amount of paperwork. What happened? It got removed.

I would expect the same thing to happen with the tax on medical devices. Just an utterly arbitrary and unnecessary tax. The sky hasn't fallen precisely because smart Americans have exposed the idiocy of this administration, with results.