The 401(k) Grab is no longer just a rumor

[Misthos]

Quote from Random.Capital:

Reagan turned Social Security into what is effectively an annuity by moving it from a pay-as-you-go system into a giant slush-bucket "invested" in Treasuries. The primary motivation was to sop up all the excess Treasuries being generated by his massive increases in deficit spending.

This is a lather-rinse-repeat repeat moment from the "Morning In America" years.

I don't have any problem with people opposing such a plan, just keep in mind that it's not coming from the left-wing nut house, it's from the right wing playbook (at least in the US).

I agree, but didn't Clinton also use Social Security to balance the budget?

 

[dhpar]

interesting - i did not know that.

so there is a place for all these chinese treasuries after all...

 

[Clubber Lang]

Quote from bagg:

All Rhetoric aside, you really are a dickhead Clubber.

Aren't you running late for your ACORN meeting?

 

[Clubber Lang]

Quote from Scataphagos:

Perhaps you should start a poll...

However.. as Clubber's remarks are SPOT ON, it looks like YOU are the dickhead!!

Somebody posted "Warn Obama... he's to be assassinated during his trip to Indonesia".

Doubt that it's true, but I wouldn't be upset at all.....

Thanks Scataphagos.

Most of the Obama lovers on this board post from the public library computer after cashing their welfare checks.

 

[dandxg]

Quote from Scataphagos:

Perhaps you should start a poll...

However.. as Clubber's remarks are SPOT ON, it looks like YOU are the dickhead!!

Somebody posted "Warn Obama... he's to be assassinated during his trip to Indonesia".

Doubt that it's true, but I wouldn't be upset at all.....

Oh oh now you went and did it. Enemy of The State. Flagged by Eschelon program...........We got hit we got it on Gnome sending agents for Gnome.

 

[dandxg]

In all seriousness if this is a true proposal this is BS plain and simple. I better roll my dormant 401k into IRA quick.

 

[jficquette]

Probably will exempt unions.

 

[Scataphagos]

Quote from dandxg:

In all seriousness if this is a true proposal this is BS plain and simple. I better roll my dormant 401k into IRA quick.

IRAs are in the Government's crosshairs, too.

 

[clacy]

Quote from dandxg:

In all seriousness if this is a true proposal this is BS plain and simple. I better roll my dormant 401k into IRA quick.

If this were to happen, IRA's would likely be included, IMO.

 

[the1]

And this is precisely the reason Obama and Co. want to confiscate 401(k)'s and IRA's -- so they can use those funds to fuel more deficit spending because recent buyers of treasuries have left the building. They are going to have a hell of a time getting this through the revolving door because unlike Social Security, 401(k)'s and IRA's are currently not connected to the government. It would be pure confiscation on the government's part. I can just see the riots now.

Quote from Random.Capital:

Reagan turned Social Security into what is effectively an annuity by moving it from a pay-as-you-go system into a giant slush-bucket "invested" in Treasuries. The primary motivation was to sop up all the excess Treasuries being generated by his massive increases in deficit spending.

This is a lather-rinse-repeat repeat moment from the "Morning In America" years.

I don't have any problem with people opposing such a plan, just keep in mind that it's not coming from the left-wing nut house, it's from the right wing playbook (at least in the US).