Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag. Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency´s first foray into consumer investments." That thought generates some skepticism,
Comments: This is absolutely outrageous. The Consumer Financial Protection Bureau is not controlled by congress. It´s another nightmare created in a law that was shoved through. It´s just indescribably horrific.
LBJ stole the social security trust fund just as I was starting my adult working life. Now the democrats are going to try to steal the funds I worked my butt off to save in spite of them. They´ve been trying to do this for quite a long time. Sooner or later, they will succeed. Welkome to Amerikastan. Folks, when the heck are you gonna wake up?????????
Reply 5 - Posted by:
lil dotty, 2/22/2013 8:24:21 AM (No. 9190341)
What ever ´Lola´ wants, ´Lola´ gets and little man, Lola wants you! ...Damn Yankees
I have done without my whole life to save for retirement. Now the criminals that is our government want to steal it so they can keep their power. I have been considering cashing out my IRA for a year, it looks like I will have to very soon.
I keep thinking I should cash out my IRA and buy enough land to grow some veg and raise some chickens so I have someplace to live and something to eat when the collapse comes. Richard Cordray is just as evil as his boss for even contemplating this. Another example of the elite ruling class who thinks he knows better how you should live your life that you do.
If they do this I will take Biden´s advice and get a shotgun. I have a counter proposal. Make a one time payment of say $600 to all government retirees and people with tax funded pensions and that is it for their lifetime pension. Think of the trillions that could be saved in current and future government expenditures.
Talk about playing with fire. If you ask me, guns and our retirement funds are major tipping points. They are doing the slow boil on us with health care, (and may still pay a heavy price for that) but take our retirement or guns and those in Washington better have a quick plane ticket out of the country.
This was done by the Argentinians a number of years ago because their ruling party is like Obama lite. I imagine the handrubbing glee mixed with envy when Obama & co. found out the Agentines successfully pulled it off. This has been coming for a while folks so you better start looking at your finances toot sweet. It ain´t going to be purty as they say.
It can´t be stopped unless you cash out. And if you cash out you´ll be taxed to death. And those Roth accounts are equally tantalizing. This is as good a reason as any for the government to buy over a billion bullets.
As I am rapidly approaching retirement, I have to agree with #8. When you find out that this board is buried deeply and safely inside the Fed ( Rush reported the other day that QE is propping up the stock market to the tune of $85b/month) it certainly does put some immediacy into what may need to be done.
If you´ve never heard Mark Levin´s conversation with Prof. Teresa Ghilarducci (mentioned in the article), here it is. He originally had her on his show in 2008 and recently replayed it. Do listen to it.
#4 you are dead wrong. LBJ presented a unified budget, but the Social Security Trust Fund is separate from the general fund. Social Security is off budget. It started that way with the Social Security Act of 1935 and remains that way. Get your facts straight. Excess funds in the Social Security Trust Fund, since day one, can only be invested in United States Treasury securities. Read loan to the general fund. Nothing has changed.
Taking your IRA and 401(k) accounts will be the first step. The second will be to limit your Social Security benefits based on your pension income.
Note that there has been no mention of taking regular pension accounts. This would have to include union pension funds, and the Democrats will never do that. Ditto with Federal Employees Retirement.
If you retired from one job, took a lump sum and rolled it over into an IRA, watch out. Obama and the Democrats think they can pay off the Public Debt with your IRA and 401(k) accounts. Remember, the Democrats just want what is fair.
Reply 27 - Posted by:
Bad Dog, 2/23/2013 11:29:40 AM (No. 9192449)
If you´ve paid attention to Betsy McCaughey at all this past 3-4 years, you would have known this already. They want everything all of us have.
Go for it. All that money just sitting there is too much temptation. The big tell will be when they start talking about trusts. THAT is the giant loophole for all of them so I imagine it will be some kind of new fee on trusts, except for members of congress.
#8, good plan, but don´t be too isolated or you will have to stand watch 24 hrs. Also realize even an off the grid, independent, debt free, estate is only going to get you extended relief if this thing goes ALL the way down. Think Cuba.
Let´s get this out of the way straight off: The Transportation Security Administration is probably not going to top anyone´s list of Favorite Federal Government Agencies. And the stories of its failures spread faster than a speeding jetliner: TSA officers stealing money from luggage, taking bribes from drug dealers, sleeping on the job. So it shouldn´t come as any surprise that a new Government Accountability Office report, citing a 26% increase in misconduct among TSA employees between 2010 and 2012, is striking a nerve with some travelers who´ve had to endure the shoeless, beltless shuffle
School officials in Florida are defending a textbook that declares Muhammad as the “Messenger of God” after critics accused an Islamic education group of launching a stealth jihad in American public school classrooms. The Prentice World History textbook being used in Brevard Public Schools includes a 36-page chapter on Islam but no chapters on Christianity or Judaism. According to a copy obtained by Fox News, The ninth grade textbook declares that Muhammad is the “Messenger of God” and instructs students that jihad is a duty that Muslims must follow. “Jihad may be interpreted
The Homeland Security Department has lost track of more than 1 million people who it knows arrived in the U.S. but who it cannot prove left the country, according to an audit Tuesday that also found the department probably won’t meet its own goals for deploying an entry-exit system. The findings were revealed as Congress debates an immigration bill, and the Government Accountability Office’s report could throw up another hurdle because lawmakers in the House and Senate have said that any final deal must include a workable system to track entries
Angry Liberal Chris Matthews on Wednesday foamed at Republican Senators Ted Cruz, Mike Lee and Rand Paul, deriding the conservatives at "terrorists." The Hardball anchor repeated the smear over and over, even going too far for former Obama political aide David Axelrod. Previewing the segment, Matthews threatened, "Finally, let me finish with the political terrorists of the right...Their names are Cruz, Paul and Lee." [See video below. MP3 audio here.] The host fumed that the attempts to defund Obamacare are "more than just obstructionism, this is political terrorism." Matthews then dropped the adjective "political" and simply declared,
Nearly two-thirds of Republicans want their party to change its direction, and more than half say they want the party to become more conservative, according to a new poll. When asked if Republicans just need to make a stronger case on their positions or whether they need to reconsider some of those positions, 59 percent of GOP voters surveyed in a Pew Research Center poll said the party needs to reconsider some policies, while 36 percent said it just needs to make a stronger case. Sixty-seven percent said the party needs to address major problems as opposed
The Smithsonian National Museum of African American History and Culture may want to add Trayvon Martin’s hoodie to its collection, according to its director, Lonnie Bunch. In an interview with the Washington Post, Bunch says he’d love to have it, explaining curators could use the hoodie to “ask the bigger questions” prompted by the Zimmerman case. “Because [the hoodie is] such a symbol, it would allow you to talk about race in the age of Obama,” he told the Post. Another one of those questions, he says: “Are we in a post-racial age? . . .
So I guess going to a New York McDonald’s isn’t a good idea right now. Videographer and conservative blogger Adam Sharp of SharpElbows.net attended one such demonstration and interviewed an SEIU member, easily identifiable as such by his purple shirt. When asked whether the union member supported the $15 per hour wage increase the McDonald’s workers were demanding, he admitted, “I’m not sure.” He also said he was there to show his support for the workers rather than the company and expressed a fear that, “if they’re [the McDonald’s employees] p****d off, they could be doing something to that food.”
The former commander of special operations in Northern Africa told a closed-door briefing today that he was largely detached from events the night of the Benghazi attack as he was traveling at the time. The testimony of Col. George H. Bristol, USMC, Former Commander, Joint Special Operations Task Force-Trans Sahara, Marine Corps Forces Special Operations Command Africa, had been eagerly anticipated by members of Congress. Originally, lawmakers had been told by the Defense Department that he had retired — the actual date is Aug. 1, an “administrative error” according to the Pentagon — and that they didn’t have
“Thousands of people will die every year” and “costs will continue to go out of control” under Obamacare, says Public Citizen President Robert Weissman. The only solution is to nationalize health care through a single-payer system, Reps. John Conyers (D-Mich.) and Rep. Keith Ellison (D-Minn.) and Sen. Bernie Sanders (I-Vt.) and Public Citizen argued outside the U.S. Capitol Wednesday. “Is this realistic after the passage of the Affordable Care Act?” asked Public Citizen President Robert Weissman. “This is what we know is going to happen after the Affordable Care Act is implemented. “However well it goes, whatever
Mark Levin, who hosts one of America´s top radio talk shows and is considered by supporters to be the people´s pundit on the Constitution, is rallying his 8.5 million-strong audience to demand an historic convention of state governments to halt the "oppressive power" of the federal government. The author of two New York Times bestsellers on the threats to the Constitution, Levin hopes his latest, "The Liberty Amendments," out mid-August, will spark the state lawmakers to tap a rarely used Constitutional provision to institute measures that would brake President Obama´s use of executive orders, bar thousand-page laws and
Hollywood actor Kevin Spacey — whose most recent work includes the psychological thriller, “House of Cards,” about an unethical congressman — said in a recent interview that most Americans just aren’t grasping President Obama’s greatness. “President Obama will go down as having passed some of the most historic bills in the history of this country,” he said, in a recent talk with Hot Press magazine. “That despite constant knee-jerk opposition from the Republicans. A lot of people don’t realize how much he’s done in the most difficult circumstances.” Mr. Spacey is far less appreciative of Congress. “It’s maybe interesting
"THANKS -- WANT TO CHIP IN FOR A GIFT?" That´s the message the Democratic Party is delivering to supporters as President Obama´s 52th birthday on August 4 nears. "Thanks for signing President Obama´s birthday card. What would be a better gift than electing more Democrats? It will take resources to win back the House and keep the Senate," reads the DNC email. "In honor of President Obama´s 52nd birthday, donate to help elect more Democrats." The email opens with a cute picture of Bo the first dog and an email line reading: "Help Bo."
It is a small Alaskan village whose inhabitants have relied on the sea for countless generations. But within a decade, it is expected that the ocean which the village of Kivalina has so relied on will completely destroy it--creating America´s first climate change refugees. Temperatures in the Arctic region of Alaska are warming twice as fast as the rest of the U.S, causing ice to retreat, sea levels to rise and coastal erosion to increase. It is a small Alaskan village whose inhabitants have relied on the sea for countless generations. The 400 indigenous Inuit inhabitants of Kivalina, who live
Arizona Sen. John McCain was the Republican Party´s 2008 presidential nominee and he still wants the keys to the Oval Office. But he is beginning to sound more like a fan of likely 2016 Democratic presidential candidate Hillary Clinton. "She´s a rock star," he said in a newly released interview. "She has, maybe not glamour, but certainly the aura of someone widely regarded throughout the world," he added in a reference to her work as secretary of State. McCain, reportedly trying to win back his reputation as a GOP maverick, was asked by the New Republic
President Obama has been rolling up his sleeves campaigning across the country delivering a surreal stump speech message supposedly aimed at the middle class: big government works, Obamacare is manna from heaven, the wave of recent scandals are “phony” figments of the imagination, and all economic problems are the fault of the Republicans. Conveniently, he leaves out the bankruptcy of Detroit, a city run by his own party for more than half a century. His message is so stale and unconvincing, that even The New York Times and Washington Post have noticed. Both papers, usually loyal to Obama, remarked that
FORNEY, Texas - George Zimmerman, the former Florida neighborhood watch leader cleared of all charges in the shooting death of Trayvon Martin, was pulled over for speeding in North Texas on Sunday, CBS DFW reports. According to the station, Zimmerman was armed when officers pulled him over on Highway 80 in Forney, east of Dallas. (Snip) The officer reportedly did not recognize Zimmerman, who was driving a Honda pickup. Zimmerman told the officer he was armed and was then told to put the weapon in his glove compartment, according to the station.
Gotta figure her lead would be even bigger without Joe Miller in the field here. Her nomination for the taking? Alaska should be a top tier pick up opportunity for Senate Republicans next year…but their top choice of a candidate is Sarah Palin. 36% of GOP primary voters in the state say they’d like Palin to be their standard bearer against Mark Begich to 26% for Mead Treadwell, 15% for Dan Sullivan, and 12% for Joe Miller.
Embattled Internal Revenue Service official Lois Lerner and an attorney in the Federal Election Commission’s general counsel’s office appear to have twice colluded to influence the record before the FEC’s vote in the case of a conservative non-profit organization, according to e-mails unearthed by the House Ways and Means Committee and obtained exclusively by National Review Online. The correspondence suggests the discrimination of conservative groups extended beyond the IRS and into the FEC, where an attorney from the agency’s enforcement division in at least one case sought and received tax information about the status of a conservative group,
Sen. John McCain — a Democrat? There was confusion Wednesday after the Arizona Republican mistakenly strolled into President Obama’s meeting with Senate Democrats at the Capitol. The room full of Democrats — who happened to be meeting in the same room where the Senate GOP usually holds their weekly policy luncheons — erupted in applause and laughter as the former Republican presidential candidate made his entrance. As McCain, 76, walked out of the Dem-filled space, reporters pressed him as to why he stepped foot in the room.
In an interview on National Public Radio (NPR), House Minority Leader Nancy Pelosi said her new agenda for women will give mothers access to day care so they can “earn without carrying the burden of child care.” During the interview, aired on Weekend Edition Sunday, Pelosi spoke about her newly announced agenda, which is on her website, and is titled, “When Women Succeed, America Succeeds: An Economic Agenda for Women and Families,” a plan that includes universal pre-school and access to day care for working women, and an increase in the minimum wage.
Karl Rove and more than one hundred Republican donors sent a letter to Republican members of Congress on Tuesday, urging them to pass a comprehensive immigration reform bill that would include, among other provisions, granting "legal status" to illegal aliens who meet certain criteria. Anticipating that lawmakers will face resistance to the bill when they go home for the August recess, the letter marks the escalation of a campaign in which Republican leaders and donors are pressuring House Republicans to act on an immigration reform bill.
I never thought the Trayvon Martin/George Zimmerman case deserved nearly the attention it got. But reasonable people can disagree about that. What strikes me as unconscionable, however, is the way the supposedly objective media have not only sensationalized a tragedy but at times appear to deliberately bend the facts to fit a desired story line. Maybe it started with the use of pictures of a younger Martin or with the sudden embrace of the term "white Hispanic" to describe Zimmerman in order to more easily paint him as a racist. NBC News was the most egregious offender
No matter how much you may hope for it, it seems unlikely that you´ll be using the phrase "Senator Sarah Palin" with any great regularity in 2015. A new poll indicates that the former Alaska governor is about as popular in the state as Barack Obama — which is to say, not very popular at all. But even more surprising, while the former vice presidential candidate has made Alaska a central part of her public image, the state´s residents split on the question of whether Palin is all that Alaskan. Conducted by Public Policy Polling,
In her first speech since taking over the Environmental Protection Agency, Gina McCarthy came out swinging Tuesday and promised to ramp up the aggressive climate change agenda laid out by President Obama.(snip)“Can we stop talking about environmental regulations killing jobs? Please, at least for today,” she said during remarks at Harvard Law School. “We need to cut carbon pollution to grow jobs. We need to cut carbon pollution to strengthen the economy. Let’s talk about it positively. Let’s approach this as an opportunity of a lifetime. There are too many lifetimes at stake.”