Kiss your 401K Goodbye

[cammyjde]

I agree. I feel bad for those who have 401k's as well. 401k's were never meant to be a main source of retirement, only a supplemental. Anyone who relies on their company as their only source of retirement is putting themselves in a risky situation. There are vehicles out there that can give market returns with a security net to keep you from losing your principal or any of your gains unlike a 401k.

[capoman1]

I feel bad for folks that are already heavily invested in 401k, and some folks got hit SUPER bad a few years ago on their 401k value.

But far fewer companies are still contributing to 401k anyways. I used to work for companies that wee 10% match, 15% match, then more recently my 6% match went to a 3% match. So we are getting into territory where it may be beneficial to take this investment OUT OF THE HANDS of the govt. No incentive, get your own retirement.

[BatusaiJack]

Obama sure looks like a high and mighty elitist in this photo.

[AlbekkenAlaym]

We tried warning American's that Obama was a big fraud, but nobody cared!

Why? Because American's just wanted anyone as Pres. except a Republican.

It's a shame you all elected the dumbest man..

You American's need to wake up Obama is going to destroy your Country further, why would you allow this?

[hottopgun100]

@AlbekkenAlaym Obama is a puppet just like all presidents since JFK. He tried to end the Fed and issue our own money so the elite NWO banksters killed him-95 % of all Washington pollititions are sell outs to the NWO-just look at how the very powerful in DC are closely related-you tube illuminati bloodlines and you will see how down through many generations royalty has kept poew and money. It's the Dems or it's the Republicans fault-wake up they both answer to the controlled agenda of the NWO.

[tigranvartanovitch]

Interview heard on the radio with a true American patriot. He is an example to you all: Q. Would you give your 401K to the US Government if you thought they needed it? A. Yes. Q. Would you give your car? A. If the US Government needed it, yes. Q. How about your house? A. Yes, I would. Q. Would you give your wife and family? A. No. Q. No? Why not? A. I HAVE a wife and family.

[StockMarketFunding]

they already took everyone's house...now they're just going to make everyone buy treasuries because tax revenues are so low and entitlement program spending is at all time highs. The larger corporations understand to shift from Defined Benefits Plans (pensions) to Defined Contribution Plans (401k) now why didn't the government shift the burden at the same time GM did? They're cronies because they also have well funded 457 plans and convenient for them no 10% penalty. SHADY

[RayAir1]

I like how the government and the media are telling us to keep giving our money to Wall Street (401K, etc). Don't worry, everything's fine.

YEAH RIGHT! GET OUT NOW

[muzalot]

Oct. 22, the Wall Street Journal reported that the Argentinean government had seized all private pension and retirement accounts to help alleviate the country's financial crisis and ballooning deficit.. with money hungry U.S. politicians and bankers looking for all possible sources of "bailout" financing, there are actual conversations in Washington to do the same thing to us..

[Bigone5555J]

That's correct. The idiots wanted change didn't they?

[muzalot]

Democrats in the House are already conducting hearings on proposals to confiscate workers personal retirement accounts including 401(k)s and IRAs and convert them to accounts managed by the Social Security Administration..

[michigan83guerrilla]

I am a robot. Obama is going to steal your money and give it black homos who pray to allah. Be scared white america. Be scared.

[mathproof]

Black People have 401k,too.

[sevakili]

Touche!! We are all brothers in this fear. Be scared...hard working middle class Americans. Black, white, brown yellow etc. we are all going to face the same ruin together.

[Crickettedog]

The reason there is so much confusion about finances in this country happens to have been caused by Ronald Reagan. Ronald Reagen despised regulations. He had as many government regulations eliminated as he possibly could. You will be experiencing an economic meltdown, otherwise known as a deep depression. Anyone that has dollars invested or otherwise will lose everything they have. The Republicans voters bitch because the Democrats won the election. I wonder why?

[bcrich33]

The economy was headed for recession (very normal correction response due to housing prices outpacing inflation) and Obama the effing change agent to the stupid used this event as a platform to push social policy....and continues to do so..for every 20 cents to "stimulus" there's 80 cents on entitlements and earmarks..you must see this....no??) There have been recessions in the past...we always come out of them - this economic downturn was not caused by Bush..it was a combo greed/liberal policy

[jDiggi]

@bcrich33 lol.. oh right, the liberals did it!

[Libs4Obama]

Im ok with them taking the 401K! The people on Wall Street and the Boosh team are evil.

Everyone could retire with something if you spread it around.

I vote YES!

[1990notch]

Communist, are you? Don't want to work for your own well being but want it stolen from all the working people to give it to your sorry, lazy ass? You embarrass yourself with your own stupidity and don't even know it.

[bcrich33]

you scare the crap out of me.....I work hard to have what I have.....and you want me to share it with some know nothing Obama slug...I vote no....and I vote you out of the country....with all the other illiterates

[sevakili]

you....WE...have no vote. all we ca do is watch it all happen to us. it is really scary

[1990notch]

How ironic that the Illinois lottery winning "pick 3" numbers for 11/5/08 were... 666. No kidding, go look it up.

[REALTruthRevealed]

The Devil walks among us now, remember never take your eye off the Muslim Man!!!! Read all my bulletins, were in big trouble now

[1990notch]

How ironic that the Illinois lottery winning "pick 3" numbers for 11/5/08 were... 666. No kidding, go look it up on the website.

[makeinstall]

It is not a nice thing to say but Middle class will be raped by Obama.

Your savings, 401Ks and incomes specifically from families that are educated and making over 200K will no longer be yours. This is just the beginning after your money and savings are stripped from you then you will get fined through capital gains taxes and additional taxes.

[Bigone5555J]

Yes, plus they are going to force everyone to contribute 5% of your pay to a government retirement plan, that will only pay you a fixed 3% interest. The Government will be investing the money and reaping the rewards, while you get 3%.

[benfranklin96753]

Anyone with a 401k has a job and is a greedy "RICH" person that must give up his saving so the poor lazy ass's can have a good life!

[pfizzbones]

401k is only a start with Obama and a Democrat controlled House and Senate. You have already heard Obama and Biden make their tax plea for the 'middle class' down from 250,000 to 150,000. Just softening us up, for what is to come. Wall Street will completely collapse if Obama gets elected.

[Bigone5555J]

Yes, remember Bill Clinton promissed lower taxes, health care and promissed to fix Social Security. That was 16 years ago. The Democrats are still making the same empty promises. He says that he wants to end the war, so he can spend the money on other things. Those other things is his Global Poverty Act, which will be the same amount we spend on war, given to the UN, every year, forever. He sees the United States, as an ocean of money, to spread around the world.

[jp3711nc1]

liberals mindset is I can spend money better than you can so they will take 401k to.

[boogle362]

Bush already destroyed your 401k. You don't need to wait for Obama.

[Bigone5555J]

Bush did it? Did you for get to take your meds? Obama himself voted against regulating Fannie Mae, and then he says that he wrote a letter to the Secretary of the Treasury urging the regulation of Fannie Mae. That's a fact. watch?v=vx1N6BoAT58

[barchetta2007]

Explain yourself! Right now 401k contributions are NOT TAXED and those mutual funds are owned by YOU. Under this new plan, your shares that you now own will be TAKEN FROM YOU BY FORCE AND PUT INTO GOV PLAN that will not make any more than 3%!!!! Marxism!!! They are taking your property and making sure you can't grow anything for retirment. 3% is the rate of inflation. 3% = 0 gain. And then all of it is taxed!! For God sakes educate yourself.

[mcliberal]

Barney Franks, Chris Dodd, and the Pelosi congress did that. Obama is going to confiscate what is left.

[kcarlady]

Another sticker in this in new "retirement" plan is when you die, you can only pass half of it to your survivors, and the rest stays with the government. They are out to screw us yet again. Who votes for these morons anyhow? I know I don't.

[girzwald3]

Morons, tools and ideologues.

[4evrMT]

I think I kissed 40% of it goodbye beginning a year ago up through today. Makes one want to cash out(what remains)and then check out of this whole system. Take from us obama, you snake in the grass liar, and we will leave--then who will be left to pay the taxes? Us Joe the Plumber rich types (as obama thinks)will jump ship to some other country. He is the nail in America's coffin.

[sestinalefroy]

Wow 8 law suits and counting... Two of which Obama has not given responses (which means he admits guilt) wow thanks for the information.

So glad I voted early today for John McCain..

[Bigone5555J]

The Pennsylvania suit. Still no news from the Judge.

[Bigone5555J]

I don't have cable. The only Fox News I get is local news, and what I can catch online. I listen to Beck on the Radio, but with the Democrats pushing the "Fairness Doctrine", we will lose all the good talk shows too.

[Bassfooler]

Im safe cashed mine out after my heart attack !Mccain Palin 08

[lookhearsee]

thanks star, I think the deafening silence from the Obama campaign and the liberal press speaks volumes.

[allymetoo]

This has been predicted by a high profile economist ( anonymously ) years ago.

[Bigone5555J]

Great news.

[Angie2343]

Indeed.