Kiss your 401K Goodbye

Kiss your 401K Goodbye

http://atlasshrugs2000.typepad.com/atlas_shrugs/2008/10/obama-plans-to.html

http://www.workforce.com/section/00/article/25/83/58.php

http://www.workforce.com/section/00/article/25/83/58.php

Category:

Nonprofits & Activism

Tags:

• Obama
• phelger
• taxes
• retirement
• accounts

[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?

[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%.

[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.

[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.

[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?

[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

[jDiggi]

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

[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.

[sevakili]

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