The government wants to manage you 401k

[StageLeft]

Originally posted by: ElFenix

Originally posted by: techs
Last I looked a hundred million Americans collected Social Security and for a large number of them it was the only income they had. They weren't a burden to society and they lived in dignity to the end.
Not bad, FDR, not bad.

yeah, FDR, thanks for stealing hundreds of thousands of dollars from the average american over their lifetime by paying them less than what a savings account does!

Not to mention they are a GROSS burden on society from a financial perspective. Old people suck, suck, suck money out of the collective wealth. They pay almost no taxes and medicare/aid costs vast sums.

 

[351Cleveland]

when was retirement written into law or the constitution as a right? Did I miss a memo?

 

[sandorski]

Recent events show that the Finance/Investment Industry wants to manage your 401k into utter worthlessness.

Take your pick.

 

[quest55720]

Originally posted by: sandorski
Recent events show that the Finance/Investment Industry wants to manage your 401k into utter worthlessness.

Take your pick.

Atleast it is my money and my choice of how it is invested. I doubt SS will be around when I retire thanks to government corruption. I don't need them stealing my 401k to give to others who don't save.

 

[sandorski]

Originally posted by: quest55720

Originally posted by: sandorski
Recent events show that the Finance/Investment Industry wants to manage your 401k into utter worthlessness.

Take your pick.

Atleast it is my money and my choice of how it is invested. I doubt SS will be around when I retire thanks to government corruption. I don't need them stealing my 401k to give to others who don't save.

You've got Options when it comes to Government too.

Let me cllarify my previous, and this, Posts: I was being Ironic, perhaps not clearly, but whatever. If times were different and we were having just an Average year of Growth with everything just chugging along just fine, then the OP has a point. Unfortunately that is not the case and things are going terribly wrong. If there are any Conspiracies happening here, it is not a Government Conspiracy to Nationalise, unless Bankers/Investors are involved. If that Conspiracy exists, then it doesn't matter who you side with, you still end up on the side of the Conspirators.

Level heads need to prevail in such times. As things settle down and the issues get resolved, Government will loosen the reigns again and if it doesn't then the OP and others can effect change to return things to a more Traditional system.

 

[RY62]

If 401k is eliminated, I assume the tax deferment is also eliminated? Isn't this just a way for the gov to take more money from us? With the loss of deferment, our taxable incomes would increase so the gov sneaks in a tax increase? At the same time, the gov gets control of a shitload of extra money to play with as they aquire the money in our existing 401k's?
Is this how it works or do i just have issues about not trusting our government to look out for my best interest?