The “Dear Leader” wants your 401K!

Like any other pig, and even though the progressive messiah just got another infusion of borrowed money sent to his Taxpayer Visa Card, there is never enough…he needs more money. Cash. Greenbacks. JIngle. Not real estate. Not tangible assets. Barry will come after that stuff later. Just cash.

The money he just stole from our grandkids will last about 3 months before the national EBT card must be refilled and the end to borrowing is in sight. So…what to do? Where could he find a ready supply of trillions of dollars, in cash, to fund his march toward socialist utopia? IRA’s…401k’s…and all other retirement instruments that’s where. Ah…some are laughing… OK.

Articles…

  • May 16th, 2011-Washington Post reported: “Treasury to Tap Pensions to Fund Government.”
  • January 17th, 2012-Reuters reported: “The Treasury Dips Further into Pension to Avoid Debt Limit.”
  • April 12 th, 2012-NY Post reported: “Feds Eye Retirement-Fund Tax to Cut $16 Trillion-plus Deficit”
  • February 11th , 2013-Foxnews: ”Is your retirement account safe from our government?”
  • And of course – August 16th, 2001CNN reported : “Government Dipping into Social Security.”

Here are just a few of the more fun proposals from Barry’s folks. Not ideas, mind you…these have been officially proposed. On paper, and in meetings. Not joking here.

  • Government will automatically deduct 5%-6% out of your earnings. Those funds will be deposited into a pooled GRA.
  • The current tax deduction will be eliminated, and replaced with a tax credit. Which can only be redeemed after retirement.
  • Instead of receiving a tax refund check, part or ALL will automatically be placed into a pooled GRA.
  • Worker’s un-used vacation pay will automatically be converted to income, which will be deposited into a pooled GRA.
  • The funds in your current retirement account will be converted to “longevity annuities,” which typically don’t start making income payments until the investor is well into retirement, 82-85 years old.
  • Guaranteed Retirement Accounts (GRA’s) will be administered by the Social Security Administration. (IRS does health…SSA does retirement…f’ing prefect!)
  • Much like S.S. Accounts, the uncollected equity will become the property of the Government, once the individual dies.

Do you lIke Forbes? Sure, we all do. Show the Conservative Collective that you’re not just a lazy slob who waits for folks like us to do all of your thinking for you. At least go to this web site and read something for yourself. Afterwards, you can take your lazy little “turkey standing in the rain” nap.

http://www.forbes.com/sites/nextavenue/2012/12/29/watch-out-your-401k-is-being-targeted/