1. THE FEDS do a better job? Oh yeah ... like the SS Administration... and budget deficits up the yingyang? 2. People "mismanaging their 401k"? They say that NOW after a decline? Aren't the people just doing what they're told? "Buy and Hold".. and now that's mismanagement? LIES, LIES, AND MORE LIES. The Gummint wants more control and intervention into our lives. They also want every nickel they can get from us... by hook or by crook. When we end up like the Soviet Union before they collapsed, remember YOU DIPSHITS voted for NObama to DO IT TO US... Celebrated it, even.
I wouldn't put anything past the scumbags in D.C., especially when they have a crisis to hide behind. There's probably substantial favor for this kind of move, if they thought they could get away with it. That said, the linked article is nonsense - a bunch of unsubstantiated hype, with the only authority cited being a single professor at some unknown school ranting about her utopian plans for social planning. Reading prepared comments to the Education and Labor Committee does not equate to changes in national policy.
If it can be imagined, they will try to get away with it. I'm not surprised. A while ago I had feared retirement accounts would be raided if you know who got elected. I would like to say thanks to slightly over half of the people that voted the way they did. Now all must pay for it. It truly was an historical election as the media said it would be. I've seen approval ratings for US Congress as low as 9% last summer. ...only to vote the vile filth back in.
How would seizing retirement accounts even work for some of these accounts? We've got life settlements in one of ours. I know that there are ways to do real estate in an IRA. I think maybe they just switch them to being taxable if they do anything with the existing ones.
A guy who works at a custodian of retirement plans told me some people read this story and cashed in their 401k plans... paying the taxes and penalties. At least now what's left for them is not part of "retirement funds".. to perhaps be confiscated, "in the name of equality"..
brazilian citizen under a openly socialist president but he aint talking about confiscation yet, I can always move and not be concerned about worldwide taxation
I dont get it people. This guy hasnt even started his presidency and hes coping shit for stuff that he may or may not do??? Lets take it a step further and start arresting people for crimes they might or might not commit in the future. You read one unsubstantiated article and your baying for his blood....... You should be grateful that the whole doesnt think the US is such a bunch of retards anymore
Hell look at Ted Stevens. Got convicted of 7 felony counts involving corruption...got voted back in only a few days later. You can't make this shit up.