Confiscation of retirement.

[ProfitTakgFool]

See what I mean? You create a little fear and people will WILLINGLY turn over their money to the government so the government "can protect me." Deadwood, you'll be first in line, yes?

Quote from Deadwood:

While this will never happen, is it really such a bad idea?

Most everyone, no, make that everyone I work with, associate with, or otherwise know outside of the trading world has been killed in their 401K's and IRA's.

Heck, 3 out 4 topics on this board refer to the utter stupidity of the average investor. Do you really think the typical 401K/IRA guy is ever going to be able to retire? Aren't they just going to end up being a burden to taxpayers one way or the other?

 

[ipatent]

Quote from ProfitTakgFool:

Yes it can pass. All the government has to do is make people very fearful. When people are scared they will go crawling to Washington begging them to take over their 401K's. The government will not have to force this upon anyone.

The USG has sold $700B in Treasuries this year and was aided by fear and a flight to safety to be able to do so without Asian buyers.

It needs to sell $2.5T next year. How is it going to do that without making Americans buy them. You are right it will spin it as being safer than equities.

To do that the market needs to drop more.

After they do it, equity markets will be stagnant for a long time with non 401k money going in.

 

[TGregg]

Quote from ProfitTakgFool:

See what I mean? You create a little fear and people will WILLINGLY turn over their money to the government so the government "can protect me." Deadwood, you'll be first in line, yes?

You know it. 60% of voters picked the economy as their number one concern after most of them voted for the guy who'd raise taxes the most. Congress has lower approval ratings that the Whitehouse, but people voted to expand the majority party in Congress and change the party in the Whitehouse.

Uncle Sam says "We'll guarantee 4% a year, tax free" and people will fight each other to be the first in line.

 

[risktaker]

Well, but now other "sources" are writing up the same BS like...

http://www.marketwatch.com/news/sto...x?guid={F9D8B988-197A-4001-8B3D-00C5DB8D62BE}

Only now, I see no reference to potentially losing 1/2 of your 401k upon death. This idiot sees no problems, only the "upside".

Quote from RichardRimes:

I can't believe any of you didn't check the source. the "John Locke foundation" responsible for this "journal" is an ultra right wing fear mongering rag....no way in hell is the congress ...Republican OR Democrat...thinking of this. This thread belongs back in chit chat.

 

[Deadwood]

Quote from ProfitTakgFool:

See what I mean? You create a little fear and people will WILLINGLY turn over their money to the government so the government "can protect me." Deadwood, you'll be first in line, yes?

Nope. No IRA or 401K here. I made my money long ago mostly off the stupidity of other people. Perhaps you even donated some to me.

But see, thats my point. Most people are financially illiterate and had you taken the time to actually read what I wrote that may have even sunk in to you.

The fact is since individuals have supposidly "taken charge" of their retirement the results haven't been all that swell. But when you combine not saving enough with complete and total financial stupidity what do you expect? And like it or not those people are going to get older and older regardless of whether they can afford to or not.

Have a wonderful day you pompous jackass.

 

[new$]

ITS A GLOBAL HAPPENING



http://www.marketwatch.com/news/sto...B5-BF60-4C3F-9EC3-5D855E39FAB3}&dist=hplatest

 

[stevegee58]

Quote from ProfitTakgFool:

Yes it can pass. All the government has to do is make people very fearful. When people are scared they will go crawling to Washington begging them to take over their 401K's. The government will not have to force this upon anyone.

Except for me. I'm in cash right now and have been doing very well, thank you very much.

 

[stevegee58]

Quote from new$:

ITS A GLOBAL HAPPENING



http://www.marketwatch.com/news/sto...B5-BF60-4C3F-9EC3-5D855E39FAB3}&dist=hplatest

Nationalizing pension funds is totally different from confiscating 401Ks.

 

[Reaver]

Quote from Deadwood:


But see, thats my point. Most people are financially illiterate and had you taken the time to actually read what I wrote that may have even sunk in to you.

The fact is since individuals have supposidly "taken charge" of their retirement the results haven't been all that swell. But when you combine not saving enough with complete and total financial stupidity what do you expect? And like it or not those people are going to get older and older regardless of whether they can afford to or not.

That doesn't mean the gummint should confiscate their money and manage it for them you oxygen gobbling piece of shit.

WTF is wrong with you? Maybe you should try a different country if you think that's what government should be about.

 

[stevegee58]

Quote from RichardRimes:

I can't believe any of you didn't check the source. the "John Locke foundation" responsible for this "journal" is an ultra right wing fear mongering rag....no way in hell is the congress ...Republican OR Democrat...thinking of this. This thread belongs back in chit chat.

God, you're right. Like everyone else in this thread, I didn't bother looking around beyond the linked "newspaper" article from the OP. The Carolina Journal is nothing more than a white-washed, legit-appearing outlet for the John Locke Foundation. It's pure BS.

I need to be more diligent about these things in the future.