Topic: Are Democrats Eyeing 401(k)s, IRAs for Tax Hit?

[Pandora]

Here we go again .....

In September, the Senate Finance Committee held a little-noticed hearing that explored changes to retirement plans — principally employer-sponsored 401(k)s — that would in one way or another cut their tax deductions.

The tax breaks' size makes them a tempting target for lawmakers. According to the White House budget office, tax exemptions for 401(k)s and IRAs will "cost" the government more than $436 billion over the next five years.

Mark Levin 

[charlesoakwood]

We need to put the government into receivership.

[Pandora]

We need to put the government into receivership.

Yes.  Or something.  I am grown quite weary of worrying about what it will do TO us next .........

[charlesoakwood]

I think that's their goal. 

[Pandora]

I think that's their goal. 

O?  Well, then mission accomplished.  Get enough people to feeling this way and "they" won't like what comes next as a result.

[charlesoakwood]

They are expecting a neutral to supplicant response.   

[Pandora]

They are expecting a neutral to supplicant response.   

I'm sure they are .... while labeling us as possible terrorists .....  Not too much cognitive dissonance there, 'eh?

[Libertas]

Gosh, why was this news not broadcast far and wide?  One might think the Ruling Class has nefarious designs!  Naaaahhhh!

/

Yes, I just checked, my powder is still dry!  

[BMG]

Absolutely they are. They have been since Clinton floated the idea during his administration. Just like they've been trying to do an end run around the constitution concerning the 2nd amendment and the UN arms treaty.

Here's a link from '08:

http://www.prisonplanet.com/government-to-confiscate-401ks-and-iras-for-mandatory-savings-tax.html

Here's quick summation:

"Under the pretext of combating the financial crisis, Democrats in Congress have been conducting hearings on proposals to confiscate private retirement accounts and turn them into government-controlled accounts managed by the Social Security Administration, by implementing a new tax in the guise of mandatory savings scheme."