#1 After dinner conversation : "They're coming after your IRA."11-23-2012, 08:29 PM
Fri Nov 23, 2012, 07:02 PM
After dinner conversation : "They're coming after your IRA."
So we had Thanksgiving dinner at a friend's house.
Just the four of us.
We're in our 70s except for Miz t. who is still a couple of years shy of the septuagenarian mark.
Our hosts are about as thick as two planks.
Both of them.
Especially when it comes to politics and world and national affairs.
We're still 'friends' only because we go WAY back.
He was my best man at our wedding.
Since those days over 40 years ago, Miz t. and I have somehow managed to evolve with the times.
Our friends are stuck in the 50s and 60s.
Anyway, after dinner we're having another glass of wine at the table and he hits me with...
"Have you heard anything about how the government is going to take over our IRAs and make us put it in the stock market?"
"No. Where did you get that?"
"I read it somewhere. Or maybe I saw it on the internet."
(They watch Fox news because it's 'fair and balanced' and read Newsmax.}
"You can't be serious. How, exactly, would the 'government' (read 'Obama') go about doing that.
"Look...think about it. There's no way the president or anybody else could do that. How would they go about it? Those are private accounts. You can't seriously believe that."
"Well...all I know is that's what I heard."
"And you believe it?"
"I dunno, that's just what I heard. I worry about it."
I'm really ready to rip my hair out at this point. How the hell do you communicate with someone this stupid?
Answer: You can't.
So I just said If you need something to worry about, worry about global climate change,
He doesn't believe in it.
We left a few minutes later.
And looked at each other and just shook our heads on the way home.May the FORCE be with you!
11-23-2012, 10:02 PM
- Join Date
- Jun 2008
This is actually something that has been out there for awhile. There is a fear that the government, desperate for cash, will take over private 401Ks and distribute them as pensions. The most recent info on this is here:
Obama Going After Your 401ks And IRAs
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.
The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”
A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a “government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation).” She proclaimed that even “private annuities are problematic.”
Such “reforms” would effectively end private retirement accounts in America, Crone warns. “These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system.”
11-23-2012, 10:21 PM
The condescending attitude of this DUumbie is totally believable. I ran into this while volunteering, the week after the election. The arrogant individual talked about how you never know where you'll find one of "those" (Republicans) and how stupid they are because most of them are fundamentalists and just don't understand anything. He went on and on. I didn't really think there were people like him out there---maybe the Obama admin, but not just regular people. I was wrong. He is the embodiment to me of the NE liberal jerk. And he did make slams at Fox News, their favorite media source to bash.
" To the world you are just one more person, but to a rescued pet, you are the world."
"A Nation of Sheep Breeds a Government of Wolves!"
GO CARDS -THERE IS ALWAYS NEXT YEAR
GO ROYALS NOW
11-23-2012, 10:45 PM
- Join Date
- Jun 2008
More: Obama Begins Push for New National Retirement System
...NSC has taken the lead in warning the nation about this new government onslaught and is plotting ways to stop it.
"This effort ultimately is designed to grab the retirement nest eggs of America’s senior citizens. This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America’s older citizens," explains Crone. "This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too."
NSC will likely unveil a new grassroots campaign effort later this year or early in January to coincide with the seating of the new Congress....
Petition: Stop Obama’s Push for a New National Retirement System
11-23-2012, 11:09 PM
- Join Date
- May 2008
I know a lot of folks who were proud liberals when they were younger, then grew up. But, it's rare to meet an ex conservative who is now a liberal. Once you start thinking on your own, it's hard to give it up.
11-25-2012, 07:02 PMIn most sports, cold-cocking an opposing player repeatedly in the face with a series of gigantic Slovakian uppercuts would get you a multi-game suspension without pay.
In hockey, it means you have to sit in the penalty box for five minutes.
11-26-2012, 12:55 PM
Every time I talk , or run into these jerkazoids, they leave me with the impression that they are the American Noble, and you are brain damaged dirt farmer, and they are entitled to run your life because they are " supreme ".
But these asshole are the first one to beg a bad guy not to kill them if he's preforms oral sex on him.
When things go bad, Moonbats are the first to cry for someone to save them.CU's Paranormal Expert.
Keep your powder dry, your sword sharp and your wits intact.
11-26-2012, 01:08 PM
- Join Date
- Mar 2010
There is nothing whatsoever to support the belief that the government will take over your 401K, a product which was designed to screw you out of a real pension, but you're perfectly OK with stock market crapshooters "borrowing" your stocks, betting against your investments, and then putting them back before you notice they are gone.
11-26-2012, 01:10 PM
- Join Date
- Mar 2010
Edit: That's not even an accurate measure. Consider back in high school when you took the Iowa Tests. Weren't your parents proud that you scored in some amazing percentile? Are you a genius by your own assessment? If not, then consider how dull most people must be to put you at the top if you're lousy at chess and algebra.
Last edited by Novaheart; 11-26-2012 at 01:15 PM.
11-26-2012, 01:35 PM
I have a government pension. Most of my coworkers were hired after 1997, so they have 401k plans. The older ones resent it that they don't have a pension, the younger ones think that the matching funds 401k plan is a good deal, probably because they can take it with them to a new employer if they leave state service and not freeze it at the amount it reaches when they leave. We had to work 10 years, though, before we were vested in the pension program. If I had left state service before having 10 years, I would not have a pension.
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