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Old March 24th, 2010, 08:07 AM   #1
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Default Things I think will happen if this administration style continues...

Sometime between 2015 and 2020:
The government will assess a small tax (5 to 7 percent) on Roth IRA withdrawls, claiming the fees are needed to help a failing social security system. Will try to pass it off as no big deal - since 401K account distributions are taxed at 20+%. Net income from this tax will more than offset any savings, and will equal an effective 20% tax if levied against the initial deposits.

Sometime after 2040, but right before I plan to retire:
The government will dissolve EVERYBODY'S retirement plans (i.e. rob / plunder / steal / thieve ) and amass it in a large fund, formerly known as Social Security (since its failure will cause this to be necessary).

Nobody will receive any consideration based on the amounts they had saved up in their 401k's; that is to say, you may have had planned well and set your accounts up to take monthly distributions of $4000 in retirement - however - EVERYONE will receive the same disbursement from this new fund.

It won't matter how hard you worked to save up for retirement or how responsible of a person you were planning out your retirement - you will get the same distribution of funds that your asshole brother in law gets - the same one that spent all his money on booze, would beat your sister and nephew and continually need bailed out of jail. Except, he will get an additional "hardship" benefit because of complications from a public-paid liver transplant - post-traumatic_cirrhosis disorder.

I am not kidding.

This will happen.
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Old March 24th, 2010, 08:12 AM   #2
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How old will Pelosi be in 2040? :)
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Old March 24th, 2010, 08:15 AM   #3
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I only spend 80% on booze, I never beat your sister unless she hid my booze, and your nephew lives with you cause I'm a loser.
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Old March 24th, 2010, 08:15 AM   #4
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Unfortunately I think you may be correct. Fawk us all.
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Old March 24th, 2010, 08:15 AM   #5
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Quote:
Originally Posted by ScOoTeR View Post
Sometime between 2015 and 2020:
The government will assess a small tax (5 to 7 percent) on Roth IRA withdrawls, claiming the fees are needed to help a failing social security system. Will try to pass it off as no big deal - since 401K account distributions are taxed at 20+%. Net income from this tax will more than offset any savings, and will equal an effective 20% tax if levied against the initial deposits.

Sometime after 2040, but right before I plan to retire:
The government will dissolve EVERYBODY'S retirement plans (i.e. rob / plunder / steal / thieve ) and amass it in a large fund, formerly known as Social Security (since its failure will cause this to be necessary).

Nobody will receive any consideration based on the amounts they had saved up in their 401k's; that is to say, you may have had planned well and set your accounts up to take monthly distributions of $4000 in retirement - however - EVERYONE will receive the same disbursement from this new fund.

It won't matter how hard you worked to save up for retirement or how responsible of a person you were planning out your retirement - you will get the same distribution of funds that your asshole brother in law gets - the same one that spent all his money on booze, would beat your sister and nephew and continually need bailed out of jail. Except, he will get an additional "hardship" benefit because of complications from a public-paid liver transplant - post-traumatic_cirrhosis disorder.

I am not kidding.

This will happen.
But... I is responsible...I can't haz good retirement?
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Old March 24th, 2010, 08:25 AM   #6
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obama already wants to take 401k. no big secret.

but yes your assessment is spot on
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Old March 24th, 2010, 08:35 AM   #7
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I wish I could say you are wrong.
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Old March 24th, 2010, 08:54 AM   #8
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I thought CC was shooting his mouth off about the revolt on the other thread. You don't think that will happen.....oh shit I almost pissed my pants laughing.
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Old March 24th, 2010, 09:00 AM   #9
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I thought CC was shooting his mouth off about the revolt on the other thread. You don't think that will happen.....oh shit I almost pissed my pants laughing.
I think there area lot of big talkers, however, when it comes down to brass tack, people will pussy out.

Why do you think government subsidizes so much? I believe we get things too easy and convenient - from travel all the way down to food and electricity.
Turn off the lights and heat - and close the markets, maybe 5% of the population would endure.

And the government would villainize the self-sufficient and turn the public against them and rid them. Once that happens, there is no resistance left, and the lights get turn backed on.
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Old March 24th, 2010, 09:04 AM   #10
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Quote:
Originally Posted by mikesova View Post
But... I is responsible...I can't haz good retirement?
Say you're retired, living in your home (paid off) and the government decides that people over 75 are to go into government-run retirement blocs (for their own safety, of course) and in exchange, they dissolve your assets and savings to go into the general fund.

That can happen too.
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Old October 19th, 2010, 07:28 AM   #11
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TTT, because I got a fresh supply of antacids.

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Old October 19th, 2010, 08:01 AM   #12
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TTT, because I got a fresh supply of antacids.

Your truth makes me sick.
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Old October 19th, 2010, 08:03 AM   #13
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I hope your wrong but it sounds like something that could happen
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Old October 19th, 2010, 08:15 AM   #14
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Your truth makes me sick.
X1,000,000

Dude I was happy this morning, until I read this.
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Old October 19th, 2010, 09:06 AM   #15
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Quote:
Originally Posted by Mr Toes View Post
I thought CC was shooting his mouth off about the revolt on the other thread. You don't think that will happen.....oh shit I almost pissed my pants laughing.
Because we are all making a big deal about the many freeloaders that exist on welfare, unemployment, and disability? Same bullshit and everyone turns a blind eye.
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Old October 19th, 2010, 09:26 AM   #16
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Quote:
Originally Posted by ScOoTeR View Post
Say you're retired, living in your home (paid off) and the government decides that people over 75 are to go into government-run retirement blocs (for their own safety, of course) and in exchange, they dissolve your assets and savings to go into the general fund.
What is socialism, Alex.
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Old October 19th, 2010, 10:57 AM   #17
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the democrat philosophy.

turn the hot water on to fill the sink to wash the dishes. they add the soap, put the plates in, but this sink isn't filling with water.

to fix the problem they levi a new tax and make new laws that increase the water pressure and build new water facilities to fill the sink.

it fills a little more but not enough to soak the dishes.

more taxes and legislation to get this filling the sink issue fixed for the people of the nation. they will take anything they can get from any citizen.

it's a shame they forgot to put the drain stopper in.

the thing is that an attack on personal retirement be it 401k, roth, etc by the government is going to lead to shots fired. they are destabilizing the country with
their failed uptopian ideas.

we are already taxed to death.

for example look at the state of michigan.
joe schmoe makes $xxx per week.
the state takes income taxes from that $xxx figure.
joe's employer pays taxes on him as well
joe is left with $xx after taxes.
joe takes his $xx out and does the following
1.puts gas in his car=cost+6% state tax
2. joe takes the family out to dinner=cost+6% state tax
3. joe buys magazines at borders=cost+6% state tax
4. joe buys halloween candy at the store=cost+6% state tax

Joe has now been taxed 4 more times on the money he received after being taxed
by the state. the money joe gets after taxes is taxed again every time he spends it.

and people think joe is crazy.
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Old October 19th, 2010, 11:02 AM   #18
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Yep.
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Old October 19th, 2010, 12:09 PM   #19
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I see it more like this.... You'll keep your 401k but the total balance will be forced into government bonds. The dollars created from selling those bonds to you will be used by the government to pay for social security. At least that is what they will say. That lie will keep the majority of people from rioting, probably at first anyway. However as soon as the bonds are purchased the "money" is sent to the general fund to be used to fund the increasing size of our Federal government and it's debt. It's a ponzi scheme or a shell game if you like. While technically your 401k still holds the same dollar amount, the actual value is now worthless because it takes $2500 to buy a loaf of bread. See Zimbabwe for a great example.

But don't worry the dollar will collapse before any of that happens. It's nearly worthless now, it's just that nearly no one is talking about it, so everyone is still accepting federal reserve notes as real money. That will change when the government seizes the banking industry as a result of the new mortgage meltdown that is in progress. They will need to create lots of new money to cover the bank buy out, after all bankers can't go hungry, the tax payer will pay their bills. The first person to recieve those crisp new dollars, the bankers, will quickly trade them for real assets, like gold, before the dollar's value goes down the drain, leaving you holding a bag of nice green toilet paper, i.e. a 401k full of worthless government bonds. Hey at least you can burn it to keep warm, oh wait it's only digital money, sorry you are screwed, those 1's and 0's just won't burn.

Did you know it is impossible to liquidate your 401k without being fired or quitting your job?

Never let a good crisis go to waste.
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Old October 19th, 2010, 01:00 PM   #20
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Quote:
Originally Posted by 3-foot View Post
I see it more like this.... You'll keep your 401k but the total balance will be forced into government bonds. The dollars created from selling those bonds to you will be used by the government to pay for social security. At least that is what they will say. That lie will keep the majority of people from rioting, probably at first anyway. However as soon as the bonds are purchased the "money" is sent to the general fund to be used to fund the increasing size of our Federal government and it's debt. It's a ponzi scheme or a shell game if you like. While technically your 401k still holds the same dollar amount, the actual value is now worthless because it takes $2500 to buy a loaf of bread. See Zimbabwe for a great example.

But don't worry the dollar will collapse before any of that happens. It's nearly worthless now, it's just that nearly no one is talking about it, so everyone is still accepting federal reserve notes as real money. That will change when the government seizes the banking industry as a result of the new mortgage meltdown that is in progress. They will need to create lots of new money to cover the bank buy out, after all bankers can't go hungry, the tax payer will pay their bills. The first person to recieve those crisp new dollars, the bankers, will quickly trade them for real assets, like gold, before the dollar's value goes down the drain, leaving you holding a bag of nice green toilet paper, i.e. a 401k full of worthless government bonds. Hey at least you can burn it to keep warm, oh wait it's only digital money, sorry you are screwed, those 1's and 0's just won't burn.

*note. I could not remember the entire passage so I had to look it up in one of my books to paraphrase.

Did you know it is impossible to liquidate your 401k without being fired or quitting your job?

Never let a good crisis go to waste.
exactly.

has any of the powers that be right now ever picked up a book and retained information from it?

this whole situation reminds me of the Thomas Malthus assesment of the human condition.

*in the late 18th and early 19 centuries, Malthus developed and touted his mathematical equation of extreme poverty and desparation as the typical human condition. He claimed that destitution is intrinsic to mammalian reproduction. he theorized that as long as a population increases geometrically and doubling each generation (2, 4, 8, 16, etc.) and agricultural farmers can only increase the food supply by adding acerage mathmatically (1, 2, 3, 4) there can and will never be enough for everyone. He concluded that poverty is unavoidable. nobody's fault, just the way it is. of course those in poverty rejected this theory while the wealthy supported it.

now there are many flaws with Malthus' linear mathematical hypothesis but still it contains the basic elements of logic in regards to even back then the poverty stricken did not want to help themselves. By giving them fundage, food or any other means is a lesson in direct consumption without reciprocation or personal improvement.


* Paraphrased from one of my texts as I could not remember the entire wording
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