Democrats confiscating 401's

[AK shooter]

If you have a 401 this is not good news. http://www.carolinajournal.com/articles/display_story.html?id=5081

 

[edman87k5]

great, take whats left in my poor 401k that I somehow manage to put 13% into and give it to people that have never paid anything in!! Force me to work until I am 70, draw ss for a year or 2 and die with no cash to leave to my heirs!
Fuggin democrats!

 

[GBob01]

They ought to know that it will bust the banks to do this. Once this is announced to take effect, I and millions of others around the country will take the tax hit and cash out the plan. I don't believe the banks are liquid enough to handle this kind of money being withdrawn.

 

[W1nds0rF0x]

Someone lays a finger on MY money they'll get that finger chopped off. At the elbow...

 

[AK shooter]

I was watching fox news this morning and they were talking about Pelosi pushing for another stimulus plan. While the big three auto makers were lobbying for bailout money. Maybe that is their game plan, give to big corporations and take from the little guy.

 

[#1bambam]

God I love democraps I wish we could clone obama and make him the vp also.

 

[AK shooter]

God I love democraps I wish we could clone obama and make him the vp also.

Where's penguin when you need him! Maybe he can explain how this will be good for us.

 

[#1bambam]

Every time i see a pic of that guy it makes me sick to my stomach......obama(Excuse me while I spit) not Penguin he is ok just decived like 75% of America.

 

[AK shooter]

Every time i see a pic of that guy it makes me sick to my stomach......obama(Excuse me while I spit) not Penguin he is ok just decived like 75% of America.

I agree, but you will have to get used to it.

 

[W1nds0rF0x]

God I love democraps I wish we could clone obama and make him the vp also.

That would be a good thing, as I've said before if Obie left office tomorrow Biden would take over. IMHO he's worse. Well, maybe not because all the love so many pie-eyed half-wits have for Obie would possibly turn into hate toward Biden. Interesting thought...

 

[swagge1]

I have a bad feeling in my gut that someday the money I have put into my Roth IRA will end up being taxed.

 

[Swampy]

If that goes thru I would cancel my 401K and draw the money out... **** on it..
This is bull ****...

Rep. George Miller, D-Calif., chairman of the House Committee on Education and Labor, in prepared remarks for the hearing on “The Impact of the Financial Crisis on Workers’ Retirement Security,” blamed Wall Street for the financial crisis and said his committee will “strengthen and protect Americans’ 401(k)s, pensions, and other retirement plans” and the “Democratic Congress will continue to conduct this much-needed oversight on behalf of the American people.”

There is no way I am going to let the government handle my money .. They do a **** job of handleing their own... (Which is mine already..)

 

[LACamper]

I'd like to hear how its legal to take money from the managers. I promise you they won't give up their source of income easily... Not to mention when they pull that money they'll have to sell all of those stocks. That would instantly crash the market. It CAN'T be done...

 

[rockmup]

God I love democraps I wish we could clone obama and make him the vp also.

What are you doing posting in a thread like this ? Shart must really be bad

 

[#1bambam]

What are you doing posting in a thread like this ? Shart must really be bad

Im so mad I dident even see where I was at.

 

[Trent2]

So, who says you can cash out. Maybe the gov will just seize it.
Look how they handled the SS system.
Taking the 401k's and giving to everyone else sounds about like there style.
I think the change Obama was talking about was the change left in your pocket or the changing of your drawers when he's finished with us.
Don't you just love a Dumb-A-Crap?

 

[Cajun_Chuck]

I have a bad feeling in my gut that someday the money I have put into my Roth IRA will end up being taxed.

You know it was taxed going in already. That was one of the reason I have ROTH over traditional, plus I can sit on it longer if needed.

If they add an additional tax to draw, esp after it was being taxed prior to going in I will be very sad. I can see how this can happen though.

 

[swagge1]

Well thats what I meant. The money we put into Roth's is post tax, hence it has been taxed already. What I'm worried about is some sort of capital gains tax imposed on our Roth's.

 

[jimdana1942]

Yow, but the Pelosi stimulus plan will not contain anything for those of us who, against all odds, have not become delinquent on our mortgages and are not on unemployment or food stamps.

A prime example of taking from those with and giving to those who don't have because of their laziness and "you owe me" attuitude.