Comments for Democrats Target 401k and IRA Retirement Accounts at http://www.rightsidenews.com , comment 1 to 11 out of 11 comments http://www.rightsidenews.com Sat, 07 Nov 2009 21:28:16 +0100 FeedCreator 1.7.3 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-1881 dont be defensive about adding value , read my post and figure out who I am.. a self made conservative who cant accept socialism. - tony natella Tue, 24 Mar 2009 20:43:58 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-1880 :'( I am retired and have saved and taken risks, run a company, put my kids through college and now want to retire. I will march on DC and move out of the country if they touch my money. Sorry this has become class war fair. The idea of redistibuting wealth is unamerican... Obama is a nice guy with no clue on how to make money biuld a nation or creat wealth. He has been intitled his whole life, had his college paid for and thats great but we need a leader who knows how to run things and create wealth and stimulate business nationally and internationally. Nice guy, wrong job with Libs who have no idea on how to create wealth either. Sorry I am finally not proud to be an American. - tony natella Tue, 24 Mar 2009 20:41:16 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-437 I sacrificed and saved for my own IRA. I will never let the government take it over. I doubt if they will be that foolish. I will just move my IRA to an offshore account, move to a foreign country or island or Mexico and basically give up my citizenship in the USA as it goes to those who only want a free handout. - MovingOn Wed, 19 Nov 2008 19:02:29 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-386 "Politics is a game of liar's poker. The biggest liar wins." I'm beginning to have my faith restored in the citizens of the US, they are not quite as stupid as the politicians think they are. When you hear "We are doing this for your good; we are going to help you." It is good to see that a lot of folks know to grab their wallets and run. When LBJ stripped the protective wrapper off of the Social Security trust fund in the late 60's, I think he may have considered calling it the "Let’s Steal the old folks' Social Security checks and go have a big spending party Act" but that would have been too close to the truth and citizens would have raised h***. So instead it was called the "Budget Unification Act" and no one noticed. LBJ was able to immediately turn a deficit into a “surplus” and fund his Great Society spending programs. From that point on, all of the surpluses paid in by the Baby Boomers and others were systematically squandered to buy votes with all sorts of spending programs. Now in just 9 years the Social Security surplus flowing into the Federal Budget will be gone, but wait, we have the Social Security Trust fund that will sustain the program for another 40 years. Not really, it is just a bunch of worthless IOUs. There is no money to redeem them. Taxes will have to be raised immediately or money borrowed and the taxpayers will have to make the loan payments in order to pay the Social Security obligations starting in 2017, just 9 years from now. As I see it, Ghilarducci's plan is a very similar scheme to the original raid on Social Security. 401ks and IRAs contain several trillion dollars. If it could be added to a Social Security part 2, then it would effectively be combined with the general budget, the new congress could show a balanced budget and start spending all this newly “found” money on all sorts of programs to spread the wealth around and buy a lot of votes. They would replace the money with more IOUs and “kick the can on down the road” knowing when the fertilizer hits the ventilator, they will be out of office and someone else will have to make good on their false promises. A guaranteed 3% return over inflation? Since they have been cooking the books with the CPI for 10 years with new “adjustments” that understate inflation by 2 or 3% each year, their guarantee of 3% is essentially a guarantee of zero return; that ought to be within their capabilities. 10 years ago they felt the need to cut Social Security spending, but to do this honestly and openly would have been political suicide (and Bill Clinton would not be nearly as popular as he is now.) So they decided to cheat under the table where no one would notice. After 10 years, Social Security recipients are being cheated out of about 25% of the payments they would have had, if the way the CPI is calculated had not been “fudged.” See ShadowStats.com for more info on this. Don’t expect the legislation to be labeled as the “Let’s steal all the retirement savings and spread the wealth around Act.” It will be labeled as the “Pension Protection Act” or some similar sweet sounding phrase to lull the public into going along with the theft. Sorry Mr. Moffitt, what part of “we are going to steal your 401k AND IRA did you not understand?” Be ready to pull your savings out of the IRA and put it somewhere else if this planned theft gains traction. - thebagman Mon, 17 Nov 2008 20:26:42 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-330 There is no way there gonna take my 401k. I just barley rolled it over to a self directed IRA and invested it. I suggest doing the same before obama gets control of it. I found Securedcapitalinvestment.com and they did it all for me. you may want to try that. but anyways move it or they will take it. - david Moffitt Fri, 14 Nov 2008 11:46:36 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-321 I am with INDYGIRL on this one. When I got my raise last year, I put the entire thing towards my 401k. The company that I work for matches up to 6% dollar for dollar. My 401k is over $4,000 now...in just 14 months time. I decided on doing this because I wanted to make sure that I had money to retire. Not take care of someone other than my wife and myself. And hopefully have a little something to leave to my son and three daughters. - Wicked One Thu, 13 Nov 2008 19:00:14 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-303 Relax is correct! ;D - Not you Wed, 12 Nov 2008 22:23:44 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-302 What professor Ghilarducci actually said was: I propose that ... Congress let workers trade their 401(k) and 401(k) - type plan assets (perhaps valued at mid-August prices) for a Guaranteed Retirement Account composed of government bonds (earning a 3% return, adjusted for inflation). When the worker collects Social Security, the Guaranteed Retirement Account will pay an inflation adjusted annuity, based on the accumulated funds. LET'S NOT GET PARANOID, PEOPLE - Steve_MCCORMICK Wed, 12 Nov 2008 20:54:55 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-295 We cannot let this happen. I do not want the government having more control over my finances than they already do!! I am all for helping people who are less fortunate but I'm lower middle class and have been able to save for my retirement on my own. I was responsible and I am tired of paying for irresponsible people. What right does the government have to take away our IRA's and 401Ks? - Indygirl Wed, 12 Nov 2008 11:58:30 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-294 So let me get this straight. You quote Teresa Ghilarducci (a professorat the New School for Social Research) and then elaborate on his comments to conclude that this is what the Democrats are planning? Give me a break. Or better yet, take a deep breath to remove that conspiratorial junk from your brain, then call or write your representatives and let them know how you feel and ask for their position. Or wait to see what the Congress is actually planning before crying "socialism." This type of "analysis" is the reason why a good chunk of the Republican party has gone off the deep-end. - JohnRangle Wed, 12 Nov 2008 11:50:56 +0100 http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html#comment-278 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." Do not trust the government to do anything to help the American people. This is just another government scam to screw the average citizen. - johninmontana Tue, 11 Nov 2008 09:21:36 +0100