Will the gov now take over our personal retirement acts? According to this article, the anwer is yes. Why? Because it is unfair to the poor.
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 "private 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."
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Another thought: The regime will probably increase the amount of tax to maybe 70 percent or more when people go to take the monies out of their accounts, that is probably the way we will be raped! They will pass it and mandate it just like the Oblammmammma Care, they will dub it some sort of bullshit name to say like "fairness tax" to redistribute it to his sheeple breatheren!
I don't blame anyone for getting an offshore account to rightfully keep what they have worked so hard to earn. I had a hunch for a number of years that the Government would eventually weasel its way into the IRAs/401k accounts. The regime loaths hard work and perserverence of the people who get it to pay off. Hard work, overtime has been penalized for a number of years, as I have been an hourly employee in heavy industry. I had a saying, and this was years ago, THE MORE WE MAKE, THE MORE THEY TAKE! Income tax rates were set to increase on us everytime we worked overtime in an effort to improve our financial conditons. I rember 18thousand in the year paying the FICA, and if we went over 18 grand, that was the limit on the payments for the year. May of had one or two pays in December fica free. Look at when all the rates were increased over the decades, along with the shift of eligibility aka Disability/welfare payments to people who really didn't pay that much into it. That is how the funds were raped, and I believe that the 401ks are next.
With all the plunder that is going on in Washington DC, the gangster regime is running unbridled, and yes, they will seize your last nickel! Too bad for the people who worked so hard all their lives to save for their retirement! Social Security started out as a retirement fund, look what they did to that? They piggiebacked their welfare handouts on to it, and the Clinton Administration is responsible for that.
Lord willing we can get God back into the center of our lives. The government is to protect us and we are to obey the law, love, obey God and get any evil or potential evil out of our lives we must put good political laws back into practice. We must have a good government again. We cannot give up on our goals of restoration, unity, constitution, bill of rights, independence, honesty must be brought back... I'm hopeful that the God we believe in will find a way.
you betcha...lets just say you dont want to payup to the irs on obamacare...well guess what...they will search all over to see where you have money and then take it from where ever they can get it...then lets say you move to costa rica..and tranfer your money to a bank there, they will slap a 30 percent penalty on your money....we are royally screwed with this creep, and thats why i have already liquidated everything i own....so if you look me up..i am classified as broke and poor, because i will be damned if obama gets any more blood from me.
Half of this country did not vote for Obama and half of this country holding on to their purse strings will break the back of Obama and the Congress. How many more times are you going to listen to " Raise taxes, no don't raise taxes, raise taxes , no don't raise taxes " ? This is a game folks and we're not playing on the field...we've been warming the bench . You have the power of your dollar and that's how you get not only in the game you become the quarterback .
Al, Just read some of the info on the following site. Compliments of Mark Levin. Time for us to fight back the way they do. I am downloading "Rules for Conservative Radicals" which is meant to fight the liberal radicals who use these tactics which Obama does.
http://www.discoverthenetworks.org/individualProfile.asp?indid=2314
notice how the incrimental steps obama has taken to transfer our freedoms to the government and dismantel the american system and beliefs. the american flag, celebrating christmas, but quanza is ok, the rights of christians, voting w/o id, free abortions, rewarding the takers and crucifying the producers, the overtake of health care, uncontrolled federal spending, supporting terrorist like the muslim brotherhood, class and racial divide, overstepping the 1st and 2nd ammendments, voting supression of the republicans, manipulations of the military vote, union take overs as democrat operatives, raising taxes during a poor economy, elimination of the coal industry, manipulating unemployment numbers just before an election, using the teachers unions to reeducate students with lies and historical facts, using the media to hide and manipulate the truth, using government freebies and handouts to keep their voting base..........need more.....fast and furious coverup, benghazi coverup....white house security leaks...more??..who is president obama?
http://larouchepac.com/node/19464
Some may have already listened to this psychiatrist Sam Vaknin. He gives us a very scary scenario about this guy. The presidential doctor had a notation in his yearly report that he is on a med but would not specify what. There is a part one and part 2.
I WANT TO SEE OBAMA'S PAST MEDICAL HISTORY, HIS PAST PSYCHOLOGICAL HISTORY. ANY CHILD SEPARATED FROM HIS PARENTS HAS PROBLEMS AND I WANT TO SEE ALL OBAMA'S PAST RECORDS FROM THE TIME HE STARTED SCHOOL TO THE TIME HE BECAME PRESIDENT A COMPLETE HISTORY.
Im stating Obama is not mentally OK. The false front we see in public is not the true Obama. The true Obama is a con-artist who says what we want to hear. Every president has been asked for past history---I'm asking for Obama's. Lets start a petition for these records to be released.
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