Has anyone read this or heard it on news?

[so.cal.fan]

http://www.prisonplanet.com/government-to-confiscate-401ks-and-iras-for-mandatory-savings-tax.html

Gov to transfer our 401Ks and Iras into TBills to pump up the fed?

[bigmack]

http://i165.photobucket.com/albums/u70/macktime/1_17_10_12_34_57.png

http://www.factcheck.org/askfactcheck/are_congressional_democrats_talking_about_confisca ting_ira.html

[Tom]

The second amendment would kick in.
Justifiably.

[Dave Schwartz]

Let's see if I have this right. We HAVE a "mandatory savings tax" called Social Security. Even though many of us paid into it for our entire lives, we will probably not get out what we deserve.

Now there might be a NEW tax?

[Tom]

Our government needs to be dissolved.
We would all be better off with no Federal government.
We could put all the pols in Gitmo - where they belong.

[ElKabong]

I heard about it recently on the radio...The host said the Supreme Court would get a workout extraordinaire if it did happen & he has heard this is being banded about as a "possibility" per some DC folk. I think the SC would kill it (or hope it would)

Problem is, our social security has been dipped into by DC. That source of $ is gone. Once foreign interests turn their backs on the USD, what then?

I don't put anything past this congress or WH admin. I really don't. If someone had told me that that I would be pitching in xtra $$ to fund some Nebraskans medical bennies in perpetuity via some back room closed door deal in DC, I'd have thought you were crazy....Or living in communist USSR, circa 1947.

[OTM Al]

This is not what I would remotely call a reputable web site

[ElKabong]

Al,

That same "story" showed up on a lot of links. It was from oct 2008. Let's see what shakes out the next few days.

[jonnielu]

The second amendment would kick in.
Justifiably.

Sorry, no, persons that have established themselves as "taxpayers" (holders of 401K) within the federal jurisdiction, kicked the entire Bill of Rights to the curb. They are at the whimsy of Congress.

jdl

[jonnielu]

Let's see if I have this right. We HAVE a "mandatory savings tax" called Social Security. Even though many of us paid into it for our entire lives, we will probably not get out what we deserve.

Now there might be a NEW tax?

Social Security has been called many things, what it has always been is an income tax. There is no fund, there has never been a fund. Your payment goes directly to recipients, the leftovers each year are wasted on whatever other vote-buying schemes Congress has going.

jdl

[ElKabong]

fwiw, this (below) is pretty close to what I heard on KRLD recently. Not exactly, but very close...Tonite's show might cover some of it, I'll listen to the replay tomorow night.

There are a couple of plans afoot: one, which was presented to Congress last June, would offer you the “voluntary” opportunity to convert your IRA or 401 fund into a Government Retirement Account (GPA) which would create an annuity at 3% above inflation (i.e., through “investment” in allegedly safe US Treasury Bonds) of your entire fund or face the loss of the tax deferred status of your IRA or 401 money. This plan would, if adopted, never allow you to withdraw your money as you can begin doing at 59 1/2 and must begin doing at 72 1/2. Instead, you would receive a government annuity once you retire at 3% above inflation, until you conveniently die of the famine and pandemics we are being told are just around the corner.

The other plan being discussed is to simply raid your retirement piggy bank and compel anywhere from 50% to 100% of your retirement funds to be “invested” in those supposed safe US Treasury Bonds.

http://www.healthfreedomusa.org/?p=1518

[boxcar]

have thought you were crazy....Or living in communist USSR, circa 1947.

Then you're going to love this.... :rolleyes: :rolleyes: :rolleyes:

http://www.youtube.com/watch?v=HcBaSP31Be8

What is slavery if nothing less than some entity imposing its will upon you and restricting your personal choices? This current "soft tyranny" (a phrase coined by Mark Levin) will soon become a little harder if the politicians get their way.

Boxcar

[ElKabong]

http://goldismoney.info/forums/showthread.php?t=438204

Had to google it...The source that I'd heard (on the Jones show) was BusinessWeek.

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.

[lamboguy]

this congress, or any other congress could care less about their constituents. i suggest you buy some gold coins and hide them in a safe spot and don't tell anyone about them. i suspect you will do alot better with them than a retirement account anyway.

[ElKabong]

Lambo,

What happened to Argentina retirees happening here someday, concerns me. Like you said, not just this congress is contemptable.