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401k and congress - Anyone else scared?

Discussion in 'U.S. Politics' started by chestnut, Oct 27, 2008.

  1. chestnut

    chestnut New Member

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    Has anyone else saw the report of the dems in congress and their hearings about the current 401k. It's not bad enough, that most of us pay into a system that we will never see the money back, but they want to get their hands on the 401ks

    This is looking awful for the US. Everyone, anyone, should be petrified.

    Let's see how many libs want their retirments messed with.:mad:
     
  2. asur

    asur New Member

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    You should be worried. With a possible majority in Congress
    Democrats will steal the 401Ks if they can. They are stealing the election.
    Obama is smiling about that one, as all looks good in his socialist plan :)
     
  3. Pandora

    Pandora Well-Known Member

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    well if obama gets in and the congress is controlled by pelosi we are so screwed that it wont matter anymore
     
  4. GenSeneca

    GenSeneca Well-Known Member

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    This is very possible, especially with the Democrats in Control...

    Of course, we're not going to hear from any Democrat voters about this issue as most of them believe its nothing more than Right-Wing propaganda and the rest of them actually think its a good idea.
     
  5. primerib

    primerib New Member

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    This is Pelosi's idea and a bad one. Throw in an increase in capital gains tax also. Let's have a 401k tax with that increase in capital gains. What is wrong with her brain? My 401k is already a 201k. The Fannie Mae man lover Barney Frank has already made it clear to forget about the debt and budget deficit, we need immediate massive spending and an increase in taxes across the board and I'm not paraphrasing. Why would anyone vote for this?????????????????????............wtf!!
     
  6. chestnut

    chestnut New Member

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    Those who are already getting something for nothing aren't getting enough. They want even more. They won't be happy unitl the suck the life out of everyone in this country.
     
  7. Pandora

    Pandora Well-Known Member

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    I am more worried about the fairness doctorin, I at least want to know about each time they stick it to me
     
  8. chestnut

    chestnut New Member

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    Yeah.. How will we know if they pass that? They will wait till they pass the fairness doctrine first then they will have no one to point ou the other stuff they are trying.

    WOW! What the hell is happenig?
     
  9. Pandora

    Pandora Well-Known Member

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    Nah,
    this I know

    conservatives will always out smart liberals

    they will figure out a way to shut fox news up and to shut hannity and rush and the rest up on the normal air waves, and we will find another way because we are smarter than they are :)
     
  10. chestnut

    chestnut New Member

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    Great point. We will have to be smarter and more aware that's all.
     
  11. foggedinn

    foggedinn New Member

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    At this point, I hope I still have something in my 401k on Jan. 21 for the democrats to tax.
     
  12. GenSeneca

    GenSeneca Well-Known Member

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    They won't "tax" what you have left... they plan to take it and give you a fixed 3% return on your investment - less than what you'd get from most banks.
     
  13. Pandora

    Pandora Well-Known Member

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    so I should cash out now ?
     
  14. chestnut

    chestnut New Member

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    Stock market is a long term investment not short term. In the long run, if left alone, most of what people lost can be regained. Those that panic and pull out are worse off than those that stick to their guns.

    That being said, it does not make it o.k. for the government to try and get more from the hard working people. It's bad enough that the tax in our retirement will end up being taxed twice.
     
  15. GenSeneca

    GenSeneca Well-Known Member

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    I'm not going to suggest any action right now but I can tell you what to look for....

    Before the Democrats go through with seizing everyone's 401k's they will pass legislation that vastly increases the penalty for early withdraw... to prevent people from pulling out their 401k's so the government can't get their greedy mits on your money. Thats what you should watch for.... As soon as that Bill hits the floor of Congress, I'd be calling my broker to cash out.

    I may not be a financial guru but I know how Democrats operate. They will cut off the exits before they set the building on fire. That's how they roll.
     
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