OMG! Obama is going to take my 401 K! OMG! OMG!

[blueinindiana]

I heard this from a friend of mine tonight and I had to set them straight.

I told so every email you receive you believe I said so if you got an email about Santa Clause being real you would believe it?



It amazes me how "smart" people believe dumb ass shit!

[Dennis Donovan]

1. Tell him Obama's going to eat his baby, too...

...right after the dingo.;)

[gratuitous]

2. Dang, he's just a couple of months late

Washington Mutual already eated my 401(k).

Thanks to all the Republicans who made this necessary.

[TheFarseer]

3. damn you

I just posted the same thing 5 seconds after you posted, except I was asking what's up with this because I haven't heard this before.

[marmar]

4. Who'd be dumb enough to want a 401K these days anyway?

n/t

[Deja Q]

10. Retired people?

:evilfrown:

[yodoobo]

11. Well I am quite fond of mine

[DemReadingDU]

5. There is this going around the Internet

11/4/08 Dems Target Private Retirement Accounts
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs

RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.

Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.

more...
http://www.carolinajournal.com/articles/display_story.html?id=5081

[WePurrsevere]

8. This "much ado about nothing" ATM. I first ran across it back in late Oct....

Here's the source someone used: http://www.workforce.com/section/00/article/25/83/58.php

This was 2 Dem House Chairmen looking into ideas and this was merely an IDEA presented at a HEARING:

House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.

A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal.

<snip>

Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.

The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.

“I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

It's pure spin and just another one of the wild "the sky is falling" mems that was spouted by neo-CONs just before the election in the hope that it would have an impact... it obviously didn't have much of any.

[curse of greyface]

6. good lord he can have mine... nt

[Trajan]

7. Aw shoot ....

I hate when they do that ....

[Deja Q]

9. A coworker says he's against coal and will bankrupt every coal company

(The truth being that fees would be attached to all the pollution coming out of NEW coal plants built. Carbon offsets, investments into renewable energy and all that... Not quite the same thing. Then add "clean coal" into the equation and nobody is going to go broke.)

[yodoobo]

12. exactly, he was only talking about new plants

existing coal plants would not be affected.

on edit : Frankly, new energy needs should be accomodated with new methods. I don't really have an issue with this

[TankLV]

14. I thought he said "new pants"...

go figure...

[TankLV]

15. I thought he said "new pants"...

go figure...

[TankLV]

13. Well they can take mine - bush* left me with a negative 43 dollars...

I accept cash...