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Obama Eyes 401K and IRAs for Government Control and Theft

http://www.businessweek.com/news/2010-01-08/retiree-annuitie...

The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.

http://www.businessweek.com/news/2010-01-08/retiree-annuitie...

All I can say is I am happy I got out of the casino gulag Wall Street wheel of theft and piracy. If the American people do not wake up from this shot across the bow of the savers, then they deserve to have their 401ks confiscated.



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Link

I actually posted this back in January. Businessweek has since pulled the article. I did include the first paragraph and the "sharedprosperity" link shows you what the plan will be.

http://www.dailypaul.com/node/121513

New link

BW didn't pull the article- I provided the new link in the post above yours:
http://www.businessweek.com/investor/content/jan2010/pi20100...

I hate dynamic links...

NO LINK -- are you sure about this?

Anybody?

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

same here

the link does not work.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Whether or not there's any truth to this, consider this...

Could the IRS tell us that because we have not yet paid taxes on our 401K or IRA investments, that technically IT STILL BELONGS TO THEM?

AND WHILE IT BELONGS TO THEM, COULD THEY CLAIM TO HAVE THE POWER TO MAKE ANY CHANGES THEY WANT TO THESE PLANS?

AND COULD THESE CHANGES INCLUDE TAKING THEM OVER AND CONTROLLING HOW MUCH OF OUR MONEY (IF ANY) WE CAN GET AT.

THIS IS SCARY STUFF AND I THINK IT COULD FUEL A "REAL" REVOLUTION IF THEY WERE TO TRY THIS.

UNLESS...

THEY MANUFACTURED A HUGE NATIONAL CRISIS TO SCARE THE SHEEPLES INTO AGREEING TO LETTING THEM MUSCLE THESE INVESTMENTS AWAY FROM US.

LIKE WHEN THEY FORCED AMERICANS TO TURN OVER THEIR GOLD IN 1933 UNDER THE SOCIALIST FDR ADMINISTRATION.

THE FACT IS THAT WE AMERICANS HAVE BECOME FEARFUL OF OUR FEDERAL GOVERNMENT AND THAT IS NOT THE DEFINITION OF FREEDOM...

THAT IS THE DEFINITION OF TYRANNY.

THEREFORE...

WE MUST REMAIN VIGILANT TO THE POSSIBILITY OF THIS HAPPENING, AND IF IT EVER SEEMS LIKELY, THEN TAKE WHATEVER PERCENTAGE OF YOUR SAVINGS YOU CAN GET BEFORE THE HAMMER COMES DOWN.

REMEMBER---THE IRS MADE THE RULES THAT MADE THESE PLANS POSSIBLE IN THE FIRST PLACE SO...

...UNTIL THE TAXES ARE PAID, IT ALL BELONGS TO THEM.

I WILL NEVER PUT ANOTHER PENNY TOWARD THESE TYPES OF PLANS.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

LINK NOT FOUND ERROR 404

I'm trying to show this to people at work who think I'm crazy saying this and when I click the link to business week it comes up error.

Could someone fix or put in a legit link please?
Thanks

I'd rather die on my feet than live on my knees...

Executive orders signed by

Executive orders signed by either Clinton or Bush 41 give the federal government the power to confiscate all retirement plans in case of a financial emergency and replace the money in those plans with 30 year government bonds. This is the exact reason why I never opened a 401k or any retirement plan.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

links

Can you please provide links to those executive orders?

I understood executive orders only apply to federal government employees.

executive orders apply to

executive orders apply to everyone. I don't have a link but I know it exists. Kennedy, Johnson, Nixon, all those presidents have these types of orders incse of "emergency" in the case of an economic emergency the government can come in and confiscate the money in these accounts and replace the accounts with 30 year government bonds. You would have to look it up I know someone on here gave the exact EO# about a year and a half ago.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

If you get laid off, lose your job or for some reason quit your

job, you can take the full distribution and set aside 40% for uncle. If you think 40% is high now, wait until they start monkeying with it.

Unfortunately I don't see either myself or my spouse losing our jobs anytime soon so this really freaks me out, no recourse, it seems but to choke on their treasuries when the dust settles.

It's just another giveback to the labor unions, etc. for electing Obama.

GM/Chrysler bailouts - union payback bondholder theft
Healthcare - union growth scam (SEIU, etc.)
401k Confiscation - union "right" to retire in comfort

All BS says I, yet it's happening

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RON PAUL 2012

Sleepdog, you are awake! . . . it's happening.

And the thugs keep coming back with more welfare/police state criminality.

And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”

Sorry about the repeat posts

The DP was acting flaky last night, or so it seemed!

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RON PAUL 2012

Well, yah!

Been awake, thanks!

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RON PAUL 2012

Well, yah!

Been awake, thanks!

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RON PAUL 2012

Well, yah!

Been awake!

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RON PAUL 2012

Gov already in cohoots with JPMorgan and other 401k providers

What the hell do you think happened in 2008 when your 401Ks went down and JPMorgan, Chase, HSBC, and other gov-approved banks swooped in and bought up 401Ks, IRAs, home mortgages, etc.?

They were merely setting the stage for controlling the wealth of this country for good.

Just as companies can rob pensions under the guise of 'emergenies'...so too will the government rob 401Ks, IRAs, your gold, your jobs, even paid off homes under the guise of 'emergencies'.

Yep, your gold too. Do you really think they'll just give you bars and coins of gold without registering it? Any transaction you make with it will be tracked...hell, the price of gold is already easily manipulated...they'll just devalue your gold with the stroke of a pen.

Frankly, I don't really know what the solution is. But gold ain't it. What will help is learning survival skills, getting totally out of debt, learning a skill that is useful in any economy, etc.

This is like giving a crack addict all your grocery money

No, better yet, this is like a crack addict winning the lottery.

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RON PAUL 2012

Tim...

I cannot get the link to work. Also it seems that it is a link from Jan 8, so I don't know that they did, in fact, promote this yet. See if you can get a better source and we can see if this is on the horizon "as early as next week". THANKS

Thomas Jefferson: “Indeed, I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Viva La Revolucion!
http://www.youtube.com/watch?v=FmaTNf4YhEs

Government to take over 401k

I am very concerned about this. We have a 401k that my husband has invested in for over 15 years. He was planning on using it to help pay off our house. If they take it, we will lose our home. I have had a bad accident with my back and,4 surgeries later,am no longer able to work. I have just been accepted for social security disability, which makes me very nervous. I have found out that, even though I have paid into it since I was 15 years old, it may only last 3 years at best. So we don't know where I will be financially. We are also concerned about him losing his job as they have had a pretty big slow down and have changed their pay date 3 times in the last year. This indicates to me they are having a hard time making pay roll. What is the best thing we can do at this time? I heard that, if we take it out and pay it on the house, they aren't suppose to charge so much penalty and taxes. Is this true?

Don't Worry

Too many people have 401k's to allow such a thing to pass. It is bi-partisan. Congress would be fired.

More likely they'll stop letting people contribute, and start a new program, with the existing deals left in place.

What do you think? http://consequeries.com/

I am sorry to hear of your troubles.

Here is a bump maybe someone will have some information for you. Good luck.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."