See this US Department of Labor announcement of hearings on 14-15 September re private retirement plans. Here's the agenda.
Anybody think the .gov folks will recommend eliminating mandatory "contributions" to the terminally-FUBAR Social Security and Medicare systems?
This chap doesn't think so.
Neither did Boortz and Denninger.
Just remember -- your monkey friends, family, and neighbors will applaud the FedGov's truly-grand larceny as both Constitutional and in the name of social justice.
Do you understand yet?
Well no suprise here. Remember the Railroad workers retirement fund was "siezed?" Social Security was liberated.
ReplyDeleteLooks like if your not in SEIU or NEA your retirement is up for graps.
Glad I is po.
"The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace them with US government “Treasury Retirement Bonds.”
ReplyDeleteWe're all going to be Mrs. Kelo. Against our will we're going to be forced to trade our individually-planned investments for stock in a failing corporation while its upper, middle and lower management enjoy salaries 60% higher than in the private sector, immunity from laws the rest of us live under, and the power to use deadly force on us.
Any more questions as to why leviathan must be stopped. The Government will take what they want, when they want it, and from whom they wish to take it. I would say that we live under Tyrany at this point.Any Questions?
ReplyDeleteDennis
III
Texas
P.S. cashed in my 401 a couple of years ago to pay off outstanding Loans. Glad I did!
If a thief broke in and tried to steal the amount of money I have in my 401k (about a year's worth of my current income), I would defend against said thief with every means available.
ReplyDeleteTaking my 401k against my will = theft. Theft of my money, which = time, which = my life. Therefore, taking my 401k against my will = theft of part of my life.
I guess I've said my piece. A little less talk...
Justin
"Each act, each occasion, is worst than the last, but only a little worse. You wait for the next and the next. You wait for the one great shocking occasion, thinking that others, when such a shock comes, will join you in resisting somehow...In between come all the hundreds of little steps, some of them imperceptible, each of them preparing you not to be shocked by the next...And one day, TOO LATE, your principles, if you were ever sensible of them, all rush in upon you. The burden of self deception has grown too heavy." (Emphasis mine, quoted in Joseph Martino's "Resistance to Tyranny", an excellent book.)
ReplyDeleteThis was written by Henry May, about the Nazi tightening of the noose in Germany. I wish more people could hear this quote, in proper Nazi Germany context. It is powerful.
This sums up my sentiments exactly. There will not be another Waco. There will be hundreds of small steps, such as the 401k grab and others. None by itself will be seen as tyranny. But, one day, while waiting for the Waco of our day, we will awaken in chains.
Justin
Gosh, Dennis, they missed the opportunity on you and me, and millions of people who've done the same to get out of (some) debt when they were laid off without warning due to the economy globalism has wrought. I'm sure they're having a slap-my-forehead moment about it. We're only vulnerable in our mortgage debt and property taxes. I guess that's next.
ReplyDeleteThen again, they DID get the early withdrawal penalty and taxed our life savings as INCOME at the same rate as our salary. Tax-deferred retirement account, my a--.
Theft as a tripwire
ReplyDeleteSofa:
ReplyDeleteI agree.
Justin
Money Quote (pun unfortunate)from the link:
ReplyDelete"The hearing begins at 9:00 a.m. (EST) on September 14 and 15, 2010. The hearing will be held in the Labor Department’s main auditorium, 200 Constitution Avenue, NW in Washington,D.C." (Emp. added.)
Trip wire? They're already in the wire. Have been for years....
Jon
III