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The Government Plot to Nationalize IRA’s & 401k’s continues?

~ The Rebel ~ 2012/07/17 17:19:59
January 2011, Goldworth Financial reported and Warned that: “Government employee pension plans are at the Highest Risk”. These accounts would be the first to succumb to a government “grab”.

A few weeks later, on May 15th, The Washington Post reported: “Treasury to tap pensions to help fund government”.

We later Warned, it wouldn’t be the last time and YES, with new legislation, they did it again!

On January 17, 2012- Reuters reported: “The Treasury dips further into pension to avoid debt limit”. (emphasis added)

It`s True, Big Government is getting BIGGER and our Constitutional Rights are Diminishing. The Supreme Court`s ruling on ObamaCare, has opened the Legal Door for much more!

The Latest Move Towards Nationalized Retirement Accounts:

The Latest move can be found in the Obama Administration`s, 256 page- FY 2013 Budget Proposal. The revival of his 2008 presidential run, the “Automatic IRA” which has now “Evolved” into two proposals:

Secure Choice Pension & Government Retirement Accounts (GRA’s), both of which automatically- “Mandate” 5% - 6% contributions into Government Run Pension funds.

One feature of "GRA`s" is once a participant dies, the uncollected equity belongs to the government. It’s no wonder the Retirement age for GRA’s will be 67, and one proposal calls for 69 years of age. They’re “off the hook” as soon as you`re dead.

Another change to the retirement account laws, the Tax Benefit. The current Tax Deduction will be replaced with a "Credit", which is only redeemable after retirement. To be Eligible for the Tax Credit, you will be given the “Option” to place Your Equity into Annuities composed of U.S Treasury Bonds, that will payout an estimated 3% annually.

Yes, you`ll be Investing/Buying what China No longer wants, U.S. Debt (Treasury-Bonds).

Will This Socialistic Plot end, when Obama`s Term ends?

No matter who wins, our government is Neck-Deep in Debt. When faced with the Reality of a Complete government Collapse… a Politician will do, what a Politician, needs to do! The $4.6 Trillion in IRA’s and the $4.3 Trillion in 401(k)s … are all too tempting!


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  • Magnus ☮ RP ☮ 2012 ☮ 2012/07/17 17:37:10
    Magnus ☮ RP ☮ 2012 ☮
    +1
    What else is new? Tyrants do not stop until a Nation is MARXIST or they are PUT DOWN AND OUT! Period.
  • ~ The Rebel ~ 2012/07/17 17:21:42
    ~ The Rebel ~
    The Train is already in Motion!

    On May 18, 2011, senators Herb Kohl (D-WI) and Mike Enzi (R-WY) introduced S1020: “Saving Enhancement by Alleviating Leakage in 401k saving Accounts”, AKA: Seal 401k savings accounts.

    First comes Restriction, then Outright Control! This bill will Restrict you from accessing Your money; you wouldn`t even be able to borrow from it.

    On February 23, 2012 California congress Kevin De Leon introduced SB1234, it`s known as: "Golden State Retirement Trust". This Bill is based on GRA`s

    On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. SCEPA is the very same Institution where Teresa Ghularducci originated the GRA concept. Of course, this Connecticut Bill is also based on GRA`s.

    Other states such as, Massachusetts, Florida and Ohio have made or are actively conducting moves such as GRA’s.

    As Reported in [Vol. 7.1] of the South CAROLINA JOURNAL OF INTERNATIONAL LAW AND BUSINESS:

    The Social Security Administration would administer the GRAs in addition to existing Social Security benefits. Without a tax incentive, 401(k) plans would likely cease to exist, making Social Security and GRAs the principal retirement investment vehicles for many Americans. However, Congr...










    The Train is already in Motion!

    On May 18, 2011, senators Herb Kohl (D-WI) and Mike Enzi (R-WY) introduced S1020: “Saving Enhancement by Alleviating Leakage in 401k saving Accounts”, AKA: Seal 401k savings accounts.

    First comes Restriction, then Outright Control! This bill will Restrict you from accessing Your money; you wouldn`t even be able to borrow from it.

    On February 23, 2012 California congress Kevin De Leon introduced SB1234, it`s known as: "Golden State Retirement Trust". This Bill is based on GRA`s

    On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. SCEPA is the very same Institution where Teresa Ghularducci originated the GRA concept. Of course, this Connecticut Bill is also based on GRA`s.

    Other states such as, Massachusetts, Florida and Ohio have made or are actively conducting moves such as GRA’s.

    As Reported in [Vol. 7.1] of the South CAROLINA JOURNAL OF INTERNATIONAL LAW AND BUSINESS:

    The Social Security Administration would administer the GRAs in addition to existing Social Security benefits. Without a tax incentive, 401(k) plans would likely cease to exist, making Social Security and GRAs the principal retirement investment vehicles for many Americans. However, Congressional borrowing from the Social Security Trust Fund for non-Social Security spending`s has resulted in a Treasury debt to the Trust Fund in excess of $2.6 billion. Implementation of GRAs would provide the federal government with an entirely new source of capital to raid to meet current spending needs. In essence, taxpayers would be nudged out of Section 401(k) plans and into a government held and government-managed retirement system that the Treasury could borrow against. These measures comprise a network of capital controls that use regulation, incentives, taxes, and the threat of civil and/or criminal penalties to incentivize taxpayers into directing their investments where the U.S. government has more disclosure, control, and access to the capital.


    Can an Entire Country be "Persuaded" to Give-up Their Money?

    Countries such as Belgium, Poland, Hungary, France, Argentina, Bolivia and Ireland have already Seized Private Retirement Accounts. They convinced their citizens through newly formed legislation and of course ..... Tax implications.

    Did the Supreme Court`s Ruling, open Pandora`s Box?

    FoxNews commentator, Judge Napolitano said: "The supreme court ruling on ObamaCare, gives the federal government `power on a platter` to tax everything under the sun."

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