Confiscation of retirement.

[Arnie]

Quote from JerryAdler:

This woman is a bald-ass communist. That anyone in Congress is even listening to this crap is outrageous.
Confiscating my 401K??? Not on your life - I'll cash the whole f....!!!ing thing in in one day, pay the tax and tell them to go screw themselves.

I can garantee you if this passes it will be retroactive. They will penalize anyone that cashes out just before in order to avoid this.

 

[gnome]

Quote from Arnie:

I can garantee you if this passes it will be retroactive. They will penalize anyone that cashes out just before in order to avoid this.

Would THAT be enough to wake the people up? 100 Million marching on Washington, carrying signs.. maybe even guns?

That's what it will take to stop the bastards..

 

[stevegee58]

Quote from gnome:

What if it works out the opposite?

It might, but there's nothing like a little TA to fix that problem.

 

[Burtakus]

Quote from gnome:

Would THAT be enough to wake the people up? 100 Million marching on Washington, carrying signs.. maybe even guns?

That's what it will take to stop the bastards..

That is exactly why the second amendment is constantly under attack from politicians.

 

[JerryAdler]

Quote from gnome:

Would THAT be enough to wake the people up? 100 Million marching on Washington, carrying signs.. maybe even guns?

That's what it will take to stop the bastards..

Guns? What guns? First there will be registration then there will be confiscation - just a matter of time.

 

[Ivanovich]

Does anyone honestly think this will pass?

 

[stevegee58]

Quote from Ivanovich:

Does anyone honestly think this will pass?

Of course not. The only people suggesting this are academics as far as I can tell. If anyone in Congress suggested this, they'd be in political hot water.

Still, it's great fun talking about it.

 

[TGregg]

Quote from Ivanovich:

Does anyone honestly think this will pass?

Naw. I'm sure the politicians will develop a sudden respect for other people's money.

Seriously though, no. But you know there is a core group of congress that really likes the idea. . .

 

[thriftybob]

Personally, I wouldn't trust treasury bonds to be worth anything by the time I retire.

By then, the dollars they are measured in won't buy anything in terms of fuel or things that consume a lot of fuel to make, or anything that needs to be imported.

 

[jd7419]

Quote from gnome:

Would THAT be enough to wake the people up? 100 Million marching on Washington, carrying signs.. maybe even guns?

That's what it will take to stop the bastards..

I purposely sacrifice now by putting so much of my income in my solo-k. I just put in 40 grand this year. I think many amercians would consider putting a bullet in one of these politicians head if they confiscated our hard earned money.