mandatory retirement account

[ronco]

A guy at my work was telling me about this and that Obama talked about it in his state of the union speach. So I did some searching and found this;

http://smaulgld.com/mandatory-retirement-accounts/

And this I guess there is already an executive order from Obama to get things started;

http://www.whitehouse.gov/the-press-off ... cial-capab



The government is looking at Australia, they have a plan where 9% of every working persons wage full time or part time is put into this plan;

http://www.investopedia.com/articles/pe ... utions.asp

Thoughts and comments?

I've a retirement account through my employer and it's doing well. I don't want the government to have more control over my life and money.

 

[DrMike]

It is difficult to distinguish this from a Roth IRA. I assure you that I would be very worried about anything over which the federal government exercised control. At the best, according to the President, the IRS makes quite a few "bone-headed decisions"; at the worst, the organisation has been utterly corrupted. And it would make scant difference whether they favoured the right wing or, as is apparent, the left wing--neutrality is shattered and corruption reigns.

 

[dubyam]

The die was cast back when SCOTUS declared that the federal government can force you to engage in commerce or penalize you with a tax. This is the coming centralized control. Do this or we will penalize you with taxes. "This" could be retirement accounts, purchase of insurance, goods, or services, or paying for inspection and certification of our homes as "safe" or some other criteria, or paying into some community supporting fund administered by the government. We are subjects in this land, not citizens. It's going to get interesting, for sure.

 

[DrMike]

The die was cast back when SCOTUS declared that the federal government can force you to engage in commerce or penalize you with a tax. This is the coming centralized control. Do this or we will penalize you with taxes. "This" could be retirement accounts, purchase of insurance, goods, or services, or paying for inspection and certification of our homes as "safe" or some other criteria, or paying into some community supporting fund administered by the government. We are subjects in this land, not citizens. It's going to get interesting, for sure.

Hear, hear!

 

[JD338]

It will eventually come to a boil.

JD338

 

[IdahoCTD]

They are trying to do it as subtle as possible to prevent the boil. As the average intelligence wanes it gets easier for them to accomplish this. Let's hope there are enough left with a spine and brains to stop this craziness.

 

[BeeTee]

Some states have had mandatory retirement program contributions for state government employees for 30+ years - it's about 8% of gross here in MT.

What would worry me is that Democrats cannot resist poking and prodding at big piles of cash. Investing, they call it (buying votes is what I call it). Once another government-run retirement program's cash builds to a certain level, they'll raid it just like they did SS (and the federal fuel tax fund, RP excise tax fund, and others).

What's scarier though is that there has been a mention/suggestion in recent years of a fed gov takeover of all IRAs and other retirement funds. The feds are $17T in debt, and coincidentally, the total of all private/business retirement accounts equal about $17T. "Be patriotic", they'll tell us. "Save your country", they'll tell us. "We'll pay it back", they'll tell us.

 

[Ridgerunner665]

I thought we already had a mandatory retirement account (social security)...they can't even manage that one...why would they think we'd want another one under their control?

Sent from my DROID RAZR HD using Tapatalk

 

[JD338]

Some states have had mandatory retirement program contributions for state government employees for 30+ years - it's about 8% of gross here in MT.

What would worry me is that Democrats cannot resist poking and prodding at big piles of cash. Investing, they call it (buying votes is what I call it). Once another government-run retirement program's cash builds to a certain level, they'll raid it just like they did SS (and the federal fuel tax fund, RP excise tax fund, and others).

What's scarier though is that there has been a mention/suggestion in recent years of a fed gov takeover of all IRAs and other retirement funds. The feds are $17T in debt, and coincidentally, the total of all private/business retirement accounts equal about $17T. "Be patriotic", they'll tell us. "Save your country", they'll tell us. "We'll pay it back", they'll tell us.

TRUST ME!

JD338

 

[ronco]

" If you like your plan you can keep it ".
" We have to pass this bill so we can find out what is in it"



What's scarier though is that there has been a mention/suggestion in recent years of a fed gov takeover of all IRAs and other retirement funds. The feds are $17T in debt, and coincidentally, the total of all private/business retirement accounts equal about $17T. "Be patriotic", they'll tell us. "Save your country", they'll tell us. "We'll pay it back", they'll tell us.[/quote]

That's scary, google "government 401 takeover". I don't know if it's just a conspircy therory or something that might really happen.