Argentina steals (nationalizes) all money in pension funds
- Thread starter crgarcia
- Start date
The Dems are talking about taking away 401k's and forcing savings to Fed govt
Not much difference
Not much difference
http://www.forbes.com/feeds/ap/2008/10/30/ap5627671.html
"In her House committee testimony, she proposed a plan in which workers would get a $600 tax refund but must set aside 5 percent of their pay into a retirement account managed by the Social Security Administration. The money would be invested in government bonds to earn at least 3 percent interest."
I believe part of this was to eliminate the deductability of 401k contributions. Basically they want to force us all to save by buying govt bonds. They will need to, IMO, because we are close to where our debt level is so high that nobody else will be willing to buy our bonds because they know they can't be repaid plus interest in dollars worth anything near today's value.
"In her House committee testimony, she proposed a plan in which workers would get a $600 tax refund but must set aside 5 percent of their pay into a retirement account managed by the Social Security Administration. The money would be invested in government bonds to earn at least 3 percent interest."
I believe part of this was to eliminate the deductability of 401k contributions. Basically they want to force us all to save by buying govt bonds. They will need to, IMO, because we are close to where our debt level is so high that nobody else will be willing to buy our bonds because they know they can't be repaid plus interest in dollars worth anything near today's value.
This has already been thought about during the Clinton years. The consideration was to slice 15% out of all 401(k)'s and pensions.
You marxist Obama lovers, might just see him drooling over your's as well. Wouldn't that be funny? You vote a guy in and then he takes a huge chunk of your retirement. :eek:
They are not allowed to posess weapons, what do you want them to do, storm city hall with rocks?
On a historical note, it was the Catholics who killed the Christians, not the other way around. No, they are not the same. Read history.
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Good points,G Trader;
Argentines tend to be peaceful people, & they did vote her in, knowing she was a big gov fan.
And Argentina treated Billy Graham & Franklin Graham,Christian /evangelists ;
much better than Paraguay did.
And not to worry;
they still have thier tasty, grass fed beef.