Get ready for the redistribution of your retirement account

and that income tax increase really wasn't that large
and that increase in FICA wasn't really all that much and
dunno if Medicare\medicaid went up but new the Obamacare
tax (your share of paying other folks bills is still quite manageable and...
 
oh yes yes indeed they do
a failure to do so would instantly reveal the nature of this ponzi scheme
and you know what happens then Right?
 
2minkey said:
so let me get this straight - over 3 million would not be subject to the special rules of an IRA, and would be treated like, um, all other money.

awww, little timmy wants pie AND ice cream.

gotholic don't worry this won't impact you at all. you will die on the job flipping burgers er no mowing lawns er no... shit they got mexicans for all that... don't give up your paper route.
Click to expand...

Ha! I will say this won't affect me. I do not have nor do I plan to get any such retirement accounts.
 
I am above the fray
in every way
289xv6g.jpg
 
They have been talking about GRAs (Guaranteed Retirement Account) which would convert all of those trillions of dollars in IRA's and 401k's into fodder for the government. Theft on the highest level in history.
 
i don't like it.

however it's not theft if people sign up for it.

you make it sound like there will be compulsory conversion of ALL forms of retirement accounts into the gov bucket. that's not the case.

oh, right, "not yet."

Ron-Paul_Its-Happening1_medium.gif
 
2minkey said:
i don't like it.

however it's not theft if people sign up for it.

you make it sound like there will be compulsory conversion of ALL forms of retirement accounts into the gov bucket. that's not the case.

oh, right, "not yet."

Ron-Paul_Its-Happening1_medium.gif
Click to expand...

Yes, not yet. If history has taught you anything, this will become mandatory. In order to help people accept it they must first make it voluntary. Just like when people were afraid the social security number would be used to identify you. They first said it wouldn't be and even had red lettering on the old cards stating so. Also, they even made social security voluntary but now have made it appear compulsory even though it is still not.

Your Rights Regarding Social Security Numbers.
 
"however it's not theft if people sign up for it.

you make it sound like there will be compulsory conversion of ALL forms of retirement accounts into the gov bucket. that's not the case."

I wrote of this in POST #13.

You must have forgotten it even though you responded to it.

I even included a link to Harvard University Economic Policy Institute white paper which stated:

This paper proposes a rescue plan for the American retirement income security system, based on a mixed system composed of Social Security, employer defined-benefit pension plans, and a new type of personal retirement savings account called a Guaranteed Retirement Account. This rescue plan will not work without a strong defined-benefit pension system and a strong Social Security system. Tax breaks for 401(k)-style plans and IRAs will be converted into flat tax credits to offset the cost of these new accounts,so the plan will improve the retirement security of most Americans without costing taxpayers more than the current system.​
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Does this sound like something you have heard recently -- perhaps as recently as the State of the Union speech? I think he called them MyRAs though.

The plan calls for all workers not enrolled in an equivalent or better defined-benefit pension to enroll in a Guaranteed Retirement Account, a plan that borrows the best features of defined-benefit and defined-contribution plans, including guaranteed retirement benefits that last a lifetime, low administrative costs, and steady contributions. With Guaranteed Retirement Accounts, workers will accumulate savings in investment funds that earn a guaranteed rate of return guaranteed by the federal government. These funds will be converted to life annuities upon retirement. Along with Social Security benefits, these will replace approximately 70% of pre-retirement earnings for the typical retiree.​
Click to expand...

The federal government has its eye on your retirement account and all of the rest which contain several trillion dollars. They want that money.

Start reading the white paper at the bottom of page 2 under "How Guaranteed Retirement Accounts work."

Note the words "mandatory"; " the government ... will invest and manage the pooled savings"; "Contributions equal to 5% of earnings"; "additional contributions with post-tax dollars"; "Employee contributions are offset through a $600 refundable tax credit".

The crap goes on and on.

Enjoy your future.
 
LOL jim, yeah some labor-centric folk at harvard have a plan.

that makes this all real.

academics have never leaned toward such poppycock before.

i will enjoy my future. because i won't spend it desperately sniveling about how everybody else's shit is ruining my life.
 
Jim, and Goth....
you ain't seen nothin' yet.
This pres has 2 more years minimum atm, to do whatever he wants.
He's untouchable.
He's above the law.
Even the lesser people under him are above the law.
Nobody, I mean absolutely Nobody, with be prosecuted for Anything,
unless the pres. 'wills' it.
(speaking strictly of people in his admin.)
 
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