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Old 11-16-2012, 07:42 AM   #1
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Obama wants to nationalize your IRA,401K

Obama Begins Push for New National Retirement System



A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrationís effort to nationalize the nationís pension system and to eliminate private retirement accounts including IRAís and 401k plans, NSC is warning.

The hearing, held in the Labor Departmentís main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.

"This hearing was set up to explore why Americans are not saving as much for their retirement as they could," explains National Seniors Council National Director Robert Crone, "However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up."

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a "government-sponsored program administered by the PBGC (the governmentsí Pension Benefit Guarantee Corporation)." She proclaimed that even "private annuities are problematic."

Such "reforms" would effectively end private retirement accounts in America, Crone warns. "These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system."

Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administrationís point man on this issue.

http://www.nationalseniorscouncil.or...rity&Itemid=62
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I'm not saying let's go kill all the stupid people...I'm just saying let's remove all the warning labels and let the problem sort itself out.
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Old 11-16-2012, 07:46 AM   #2
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Obama Begins Push for New National Retirement System



A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrationís effort to nationalize the nationís pension system and to eliminate private retirement accounts including IRAís and 401k plans, NSC is warning.

The hearing, held in the Labor Departmentís main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.

"This hearing was set up to explore why Americans are not saving as much for their retirement as they could," explains National Seniors Council National Director Robert Crone, "However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up."

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a "government-sponsored program administered by the PBGC (the governmentsí Pension Benefit Guarantee Corporation)." She proclaimed that even "private annuities are problematic."

Such "reforms" would effectively end private retirement accounts in America, Crone warns. "These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system."

Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administrationís point man on this issue.

http://www.nationalseniorscouncil.or...rity&Itemid=62
There may be a few far left nut bags in the government who want this. But hell will freeze over before this happens. IRA's and 401k's are not just for the rich. This would affect more than half of America and just would not be politically feasible. This is talk. Nothing more.
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Old 11-16-2012, 07:47 AM   #3
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But the government can protect us. Look how much money is lost in investments each year. No more evil rich people controlling our investments and stealing our money. The majority have spoken. Obama knows what's in our best interest. He understands us.
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I'm taking care of my procrastination issues, just you wait and see.
Old 11-16-2012, 07:52 AM   #4
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There may be a few far left nut bags in the government who want this. But hell will freeze over before this happens. IRA's and 401k's are not just for the rich. This would affect more than half of America and just would not be politically feasible. This is talk. Nothing more.

Ahhh yes....

But isn't this talk similar to how Obama Care got started?

We all know how THAT turned out.
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I'm not saying let's go kill all the stupid people...I'm just saying let's remove all the warning labels and let the problem sort itself out.
Old 11-16-2012, 07:53 AM   #5
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Ahhh yes....

But isn't this talk similar to how Obama Care got started?

We all know how THAT turned out.
The government will take care of us.
Trust in Obama!
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I'm taking care of my procrastination issues, just you wait and see.
Old 11-16-2012, 08:26 AM   #6
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The government will take care of us.
Trust in Obama!
Soon that will be printed on our money
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"If you're not on somebody's shit list, you're not doing anything worthwhile"
Old 11-16-2012, 08:43 AM   #7
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Soon that will be printed on our money
Funny because it's true.
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I'm taking care of my procrastination issues, just you wait and see.
Old 11-16-2012, 09:30 AM   #8
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if the government succeeds in confiscating your private pension and 401K and similar investments this will be reduced to a communist country in all but name as the government will control all wealth, all business investments, all business spending and your very existence, they can then simply tell you what to do, and if you don,t jump high or fast enough cut off all funds or monetary transfers , so you can,t buy anything or go anywhere,, STALIN WOULD BE SO PROUD OF OBAMA
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Old 11-17-2012, 09:42 AM   #9
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If you hide and bury cash, gold, diamonds, guns and ammo, no communist bastard can steal it from a bank account set up by bam bam blama.
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Old 11-17-2012, 10:27 AM   #10
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I think it's a great idea because those of who didn't save much when we were younger will make out like bandits this time around.
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Old 11-17-2012, 03:14 PM   #11
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I think it's a great idea because those of who didn't save much when we were younger will make out like bandits this time around.
Yeah, in other words, everyone who has been careful, planned well, made a good life, and never relied on anyone else but themselves, will have done so for nothing.

Terrific.
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Old 11-17-2012, 03:17 PM   #12
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Yeah, in other words, everyone who has been careful, planned well, made a good life, and never relied on anyone else but themselves, will have done so for nothing.

Terrific.
Why do think my motto in life is never do today what you can do tomorrow? Then I never have to do anything...... I can't wait for the government to take over your 401K and give some to me.
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Old 11-17-2012, 06:11 PM   #13
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Why do think my motto in life is never do today what you can do tomorrow? Then I never have to do anything...... I can't wait for the government to take over your 401K and give some to me.


They are not going to take care of anyone longer than they have to.
Just to get votes.
Liberals will perish just like the conservatives.
That is the ironic part of communism.
Only the elite survive & prosper.
Liberals will cry the blues later likewise.
Free ride over because all the money$$$$$$$$$$$ is gone.
Stolen......
They sink & swim in whale chit like the rest.

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Old 11-18-2012, 06:48 AM   #14
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Yeah, in other words, everyone who has been careful, planned well, made a good life, and never relied on anyone else but themselves, will have done so for nothing.

Terrific.
Bush set the model for rewarding bad behavior, Barry doubled down on that and here we are. Now people who save, plan, invest wisely are on the short end of the stick.

If your in dollars, get out.
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Fascism is a religion of the state. It assumes the organic unity of the body politic and longs for a national leader attuned to the will of the people. It is totalitarian in that it views everything as political and holds that any action by the state is justified to achieve the common good. It takes responsibility for all aspects of life, including our health and well-being, and seeks to impose uniformity of thought and action, whether by force or through regulation and social pressure. Everything, including economy and religion, must be aligned with its objectives.
Old 11-18-2012, 08:58 AM   #15
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Bush set the model for rewarding bad behavior, Barry doubled down on that and here we are. Now people who save, plan, invest wisely are on the short end of the stick.

If your in dollars, get out.
Fighting all these evil forces is like pissing in the wind....well I'm tired of always having a wet face, it's just easier to walk around with my hand out.
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