Govt. talks of confiscating all 401K's

[Snave]

The problem is our government governs to the least common denominator. If there is one person that can't figure it out then everyone else is going to pay. Literally and figuratively. We have a victim mentality in regards to our finances.

I understand there are circumstances that are beyond control sometimes. People lose jobs, have medical emergencies, etc... Those are the exceptions and not the rule. The "rule" has now become overspending and having tons of cc debt, buying too much home, too much car, etc... Then, when a financial crisis hits like we are going through today, we fall deeper into debt and blame everyone else but ourselves.

We already have components of socialism with social security, medicare and other governmental programs in this country. Do we really need more with a new retirement plan? Heck, we even tried socialism for the last few years with the the banking/mortgage industry. We "spread the wealth around" by allowing people that should not and could not afford a mortgage to get one. Look where that landed us.

Sorry about the rant. I am just frustrated with the lack of accountability we have anymore.

[Exile]

Heck, we even tried socialism for the last few years with the the banking/mortgage industry. We "spread the wealth around" by allowing people that should not and could not afford a mortgage to get one. Look where that landed us.

I can't believe the way that the word "socialism" is bandied about and misused. Socialism is OWNERSHIP of the means of production by the government (which wouldn't be a bad idea for America since the people own the government). The mortgage fiasco is as far from socialism as one can get and still be in the same universe. That was UNREGULATED fraud enterprise. I mean free enterprise. Oh what's the difference.

[Bryan Anderson]

Don't forget that the money in your 401K does not belong to you anyway... not entirely anyway. Participating in a qualified plan puts you in business with the government and they make the rules.

Read the tax code regarding retirement plans. It states that plans can be taxed up to 90%. That just puts it in line with taxation on all other income. Congress can take whatever they want.

Republican or Democrat: Both crazy and have proved to us over and over that they can't manage money.

401K- Run like the wind!!!

[sweeps]

401K- Run like the wind!!!

Just out of curiosity, what alternative do you propose?

[swaymonae]

Hilarious... the US Gov't is obviously incapable of managing finances.. why in the hell would we trust them with our 401ks? If they do take them.. I'm starting to feel more and more like a slave every year.. What's so free about this place anymore? When our own retirement savings is put into question-- I feel so vulnerable, like there's nothing they can't just vote to take from us. I hope they leave me my cats...

[KTP]

The funny thing is, people don't really grasp what is happening in their country while it is building up. Everything is a small step, usually supported by the misled majority. Tax rich executives at 100%? Sure! Sounds good to me.

I bet people in Germany thought taking things from the rich Jewish people was a good idea too. Everything looks good while it is happening and benefitting the majority. Only later do you look back and say "Wow, we just killed 6 million people..that sucks"

[sweeps]

Wow, people are going off the deep end.

[blankcheck]

The funny thing is, people don't really grasp what is happening in their country while it is building up. Everything is a small step, usually supported by the misled majority. Tax rich executives at 100%? Sure! Sounds good to me.

I bet people in Germany thought taking things from the rich Jewish people was a good idea too. Everything looks good while it is happening and benefitting the majority. Only later do you look back and say "Wow, we just killed 6 million people..that sucks"

I think that instead of the term socialist, we should start using the term sensationalist.

If this fear is that real to you, then by all means do what is best to protect your future and find a location that allows you to keep more of what you earn, earn the type of living you want, and stays out of your business (literally).

I guess I'm ignorant about this, but does anyone know of a place where this is truly the case? And why isn't that place absolutely flooded with potential immigrants by now as they leave the U.S in this time of upheaval?