Obama Begins Push for New National Retirement System

[WallyWeaver]

"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."

-- Winston Churchill

"Christmas is a time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell the government what they want and their kids pay for it."

-- Richard Lamm

"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

-- Alexis de Tocqueville

FANTASTIC quotes, rico1! I've not seen the one by Richard Lamm before but it's a good one.... always love to see quotes form Alexis de Toqueville.

May I add a few more from one of my favorite sources?

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."

Thomas Jefferson

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."

Thomas Jefferson

"My reading of history convinces me that most bad government results from too much government."

Thomas Jefferson

"To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical."

Thomas Jefferson

Thank you for your service (I'm assuming you have served at some point) and thanks for your excellent contribution to this thread.

WW.

[WallyWeaver]

If you read and research what they want to do, you will find that you will get "paid" on a monthy basis, but f you die before you retire, no problem because there will be NO ONE to inherit your retirement account. Your spouse will not get any of it and you can not pass it on to your children.

I think this is one of the main reasons why they want to get their hands on everyone's personal retirement accounts. This government pension idea is nothing more than current politicians wanting to make themselves look good (and therefore get re-elected) while flushing the future of the country down the toilet, long after they are out of office, of course.

It is so sad to watch our once great Republic die a slow death like this, and right in front of our eyes, too. The feeling of helplessness can sometimes be overwhelming.

Nations rise and fall, heaven is our only true hope (Rev. 21:1-4).

Thanks for sharing your perspective.

WW.

[rico1]

Thank you for your service (I'm assuming you have served at some point) and thanks for your excellent contribution to this thread.

WW.

Yes I have served and am now working as a contractor.

Thanks

Edited November 18, 2012 by rico1

[Luigi1]

Pelosi wrote most of Obamacare. Pelosi wrote most of the Retirement Revision Bill.

Under this new proposal our 401K, ROTH, IRA, Shares & other differed tax private savings accounts would be nationalized & evenly re-distributed to all equally at retirement. This is how they'll keep the deadbeats on the ballot in 2016.

Your retirement is not yours. You didn't save that nest egg. You didn't build that. You don't own that.

[DumNDumer]

This administration has shown the people that they are not discipline enough to control their spending. This would be something else for them to dip their greedy hands into. Have to agree with you WW, our Social Security is about to disappear.

Now I'm really getting this deep gut feeling of a sense of urgency to prepare better. Thanks once again for the great information you bring.

Oh by the way, I passed this on and made some people mad. I hope they use the energy to help our America.

GOOD FOR YOU PATTY,

FOOD FOR THOUGHT DOESN'T HURT!!!!!!

YOU KNOW THE SAYING,

THE TRUTH ALWAYS MAKES THEM ANGRY.

BLESSINGS

LUCI

[DumNDumer]

This is one i have often referred to since 2008

Scary to think how true it is.

Lucie

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Norman Thomas said this in a 1944 speech: “The American people will never knowingly adopt socialism. But, under the name of “liberalism,” they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” He went on to say: “I no longer need to run as a Presidential Candidate for the Socialist Party. The Democratic Party has adopted our platform.

Edited November 19, 2012 by DumNDumer

[Sentinel7]

We have two choices here folks

Choice # 1. Sit back whine about it and do nothing.

Choice #2 . Mobilize and Stop this from happening

Now is the time to educate yourself and your friends and family you need to find copy's of this plan

to show as fact. Create and sign petitions

We need to engage our representative and tell them No Way

Numbers count people If you want to change the direction this country is heading then you must engage now.

We have seen where disengagement,surrender and compromise has brought us

The silent majority has been silent too long.It's time to step up

No Surrender No Retreat and No Compromise

[yota691]

Wonder how much retirement money is just sitting? I have a Ideal on the figure, a push to make a move on this amount monies is just what the O camp wants..JMO

[Rayzur]

Hey WW, great thread! I don't see how the governmnet could take people's private savings and redistribute to all evenly in the coming times. Not to say I don't believe they wouldnt try, I just don't see people standing still for it. It seems if this were even a remote possibliity, that people would make a run on their money (taxes be damned lol ) and take it out of play.... Which in turn would seemingly crash the hell out of the fiscal foundation of many major players, which would fiscally collapse us? If I can figure that out, its really pathetic that anyone would think this would work.... omg...

For my retirement, I don't pay a cent into Social Security.... and I think there are a number of people who have similar pensions (off hand the only one I can think of that is not government is the pension system for/of the Rail Road) Mine is of course governmnet run, I pay in to it, they pay some into it, and when I retire, the money comes from there. I don't or won't get money from Social Security, (or if I did, cause I probably have qualifying quarters, it would be minimal). What's interesting is not everyone who works for the government can participate in this pension system. You can only do so, if there is something about your work that puts your life at risk. The monthly payment is not the same for everyone, and instead, is based upon your own personal salary... a percentage goes in from your salary (mandatory), so the amounts contributed are not the same for everyone and as a result, the payout is different (also a factor of how long you worked, multiplied by something else, yadda yadda.... )

Do you think that is what they mean? I couldn't tell from the article... (though the statement that IRAs are unfair to poor people does not lead me to want to share my retirement with them... sorry... I don't).... The government controls my pension, but does not touch my IRA or any of my personal stuff (unless I want to link it to my deferred compensation somehow or other.... which I haven't cause I dont pay that much attention to it... I focus on my own means of retirement income)... From what I understand, this pension system is one of the most profitable and money making systems in the US... (which leaves it ripe for robbery I'm sure).... and something about its size, keeps it very healthy and productive.

Maybe the whoevers mean something like that? That you have to do mandatory payments.... Of course like you said, that's what social security is.... except maybe... ahhhh maybe, unlike social security, my pension fund plays the money market and is a big big player in that... and I don't think you can play the market with Social Security money.... So maybe its taking it out of the governmnet budgeted whatever line, and and putting into play in the open market more.... Kind of like what Bush wanted to do back when, and it was a dang good idea...

Don't know and just wanted to throw out that possibility in the optimistic hope that the entire country has not lost its day'um mind and all hope with it.

[Luigi1]

Wonder how much retirement money is just sitting? I have a Ideal on the figure, a push to make a move on this amount monies is just what the O camp wants..JMO

It was estimated by economists, over $4Trillion was lost by investors, including 401K, in 2008. That was nearly half of private wealth that vanished.

It is estimated to be roughly $4 to $6 Trillion in private investments today.

Obama went through $4 Trillion in new borrowing in less than a year. He can easy go through the rest of our soon to be nationalized private saving in a year or less through more give away programs to buy 2016 votes for Hillarious.

Some such give away programs in the works are...

-paying off student loans.

-high speed internet for welfare.

-laptops, tablets or i-phones for welfare.

-expanded food stamps for ilegals.

-ObamaCare for all ilegals.

What happens after our private retirements are spent? They'll go after our inhertance, private properties, solid & liquid holdings including raiding our bank lock boxes.

There will be no end to the methods they'll employ to strip us of our wealth once this begins.

Remember, wealth is power. Take away the people's wealth then throw them crumbs, then & only then, you'll have full control of the masses.

[WallyWeaver]

Hey WW, great thread! I don't see how the governmnet could take people's private savings and redistribute to all evenly in the coming times. Not to say I don't believe they wouldnt try, I just don't see people standing still for it. It seems if this were even a remote possibliity, that people would make a run on their money (taxes be damned lol ) and take it out of play....

For my retirement, I don't pay a cent into Social Security.... and I think there are a number of people who have similar pensions (off hand the only one I can think of that is not government is the pension system for/of the Rail Road) Mine is of course governmnet run, I pay in to it, they pay some into it, and when I retire, the money comes from there. I don't or won't get money from Social Security, (or if I did, cause I probably have qualifying quarters, it would be minimal). What's interesting is not everyone who works for the government can participate in this pension system.

Wow, good post Rayzur. Sorry I didn't reply sooner.

You make many excellent points which is your usual MO. Great point about if the government were to do it most would just cash out and take the penalty.

Also, I didn't know that government employees could "opt out" of Social Security..... I wish I could opt out.

Take care.

WW.