Kiss your 401K goodbye to seizure by feds. - Page 5 - Mercedes-Benz Forum

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post #41 of 62 (permalink) Old 11-11-2008, 06:41 PM
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So bottom, got any facts to go with the hysterical dithering? So far all I see is two articles written about the same Fear, Uncertainty, Confusion and Dread.

While I realize it is against your nature, facts would be nice. Conjecture based on nothingness, just silliness.

Oh, and the FUCD is somewhat mooted now that the election is over. Now you are down to writing missives to your congressman from your suddenly BLUE state.
Oh dear, don't you just hate it when the voice of reason chimes in??

There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey. --John Ruskin
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post #42 of 62 (permalink) Old 11-11-2008, 06:44 PM Thread Starter
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So bottom, got any facts to go with the hysterical dithering? So far all I see is two articles written about the same Fear, Uncertainty, Confusion and Dread.

While I realize it is against your nature, facts would be nice. Conjecture based on nothingness, just silliness.

Oh, and the FUCD is somewhat mooted now that the election is over. Now you are down to writing missives to your congressman from your suddenly BLUE state.
Ah, you arise from the ashes of your still RED state! Must've hurt.

No bills have been written yet or at least announced, no action by any committee yet which I consider good news. I am planning to monitor the topic for some time to come. The first step will likely be eliminating the tax deductibility of 401ks (i.e. hitting the so-called rich). If it goes further, Ghilarducci's plan will provide an exit for those deprived of deductibility with her proposed 3% per year in gov't bonds.

What's your reaction to her ideas?

BTW I don't have a 401k or IRA.

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post #43 of 62 (permalink) Old 11-11-2008, 06:46 PM Thread Starter
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Oh dear, don't you just hate it when the voice of reason chimes in??
Get back to me after your evening medication. I'm still looking for reason in that post.

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post #44 of 62 (permalink) Old 11-11-2008, 07:11 PM
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I'm sure they were laughed out of that venue after the testimony. Right? The word unconstitutional was no doubt used.

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post #45 of 62 (permalink) Old 11-11-2008, 07:16 PM
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This is a legitimate congressional effort to absorb, seize, co-opt, take, etc our 401k's.


Hey Drew, you got room for this guy?


There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey. --John Ruskin
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post #46 of 62 (permalink) Old 11-12-2008, 05:30 AM
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^^^
hehehehe, sure do! Electroshock therapy is back in vogue you know
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post #47 of 62 (permalink) Old 11-12-2008, 07:38 AM
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I know campaign speeches are like midnight promises, but what I recall Obama saying on the topic was possibly allowing people to withdraw from their 401K without penalty.
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post #48 of 62 (permalink) Old 11-12-2008, 10:32 AM
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Ah, you arise from the ashes of your still RED state! Must've hurt.

No bills have been written yet or at least announced, no action by any committee yet which I consider good news. I am planning to monitor the topic for some time to come. The first step will likely be eliminating the tax deductibility of 401ks (i.e. hitting the so-called rich). If it goes further, Ghilarducci's plan will provide an exit for those deprived of deductibility with her proposed 3% per year in gov't bonds.

What's your reaction to her ideas?

BTW I don't have a 401k or IRA.
So, in other words, you live your life according to right wing spin and bullshit. Let me know how all this turns out, my guess is it will be like all the other fucking lies you guys put out there, the "outrage" value goes away once people realize it's bullshit, and it just disappears. But as the election shows, people are sick to death of your fucking lies.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #49 of 62 (permalink) Old 11-12-2008, 01:45 PM
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+1.
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post #50 of 62 (permalink) Old 11-12-2008, 08:55 PM Thread Starter
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I'm sure they were laughed out of that venue after the testimony. Right? The word unconstitutional was no doubt used.
Wish it were so. The first step in the PLAN would be to eliminate the deductibilty of one's 401k contribution, then make you an offer to absorb your account balance at 3% plus $600 per year with a 70% guaranteed retirement benefit (including SS). With no other alternative for growth, most would have to accept this completely legal offer to give up control of one of your largest assets.

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