Saturday, February 27, 2010

Will BIG Brother Steal Our Retirement Income?

It sounds crazy, doesn't it? The very thought that the government may be quietly laying the groundwork to seize your retirement assets is enough to make you shudder and think, "no way! This can't be happening. Not in America. My IRA and 401k are safe."

REMEMBER that we talking about the Obama Administration and the IRS.
This is the same administration who:

--used the recent economic chaos to seize control of the American mortgage market,
--used loans to GM and Chrysler to take control of those companies. Initially they secured those loans with preferred stocks, which they quickly converted to Common Stocks so they could gain a controlling vote.
--has recently taken over the student loan business
--has appointed radical leftist "Czars" to oversee and transform ever-larger portions of our economy against the will of the people and their representatives in Congress
--has presided over a quadrupling of the budget deficit in the course of 1 year

In short, they haven't "wasted a good crisis" since taking office.

The list of Obama Administration trespasses against our freedom-based way of life is long indeed. Given their track record, is there any reason to think that they wouldn't try to get their hands on 3 TRILLION dollar$ of our retirement funds? Do you think they would be opposed to this heist on principle? REALLY?!

The following opinion piece, THE GOVERNMENT WANTS YOUR RETIREMENT, is from Neal Boortz. As you read this it's important to remember that Neal didn't pull this "possibility" from his nether regions. He read an IRS document contained at

Boortz: "I've been telling you about this for a while now. This, to me, is one of the most dangerous schemes currently slithering through the crevices and dark spots of the Imperial Federal Government in Washington. What am I talking about? What I believe to be plans by the Obama administration to, in effect, seize your retirement funds and use them to finance their deficit spending. Remember ... there are more than $3 trillion dollars sitting out there in individual retirement, IRA and 401K plans. Politicians just cant stand the idea of this much money sitting out there in private investments ... out of the grasp of politicians. So .... Something needs to be done. And sure enough, something is going to be done. The Treasury Department and the Department of Labor were going to start taking comments on ways to promote the idea converting 401(k) savings and IRAs into annuities or other steady payment streams. Well you can finally take a look at this document for yourself:

Here, I'll post a little to get you started: (from the IRS document)

The Department of Labor and the Department of the Treasury (the "Agencies") are currently reviewing the rules under the Employee Retirement Income Security Act (ERISA) and the plan qualification rules under the Internal Revenue Code (Code) to determine whether, and, if so, how, the Agencies could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored retirement plans and in individual retirement arrangements (IRAs) by facilitating access to, and use of, lifetime income or other arrangements designed to provide a lifetime stream of income after retirement. The purpose of this request for information is to solicit views, suggestions and comments from plan participants, employers and other plan sponsors, plan service providers, and members of the financial community, as well as the general public, on this important issue.

Boortz: "That's a lot of government-speak. Can you read between the lines? What is the real plan here? Behind this nonsense about "lifetime stream of income after retirement" language is a lovely little plan to force you to finance the Democrat's deficit spending. The plan is to play into the current economic fears. "Never let a good crisis go to waste." Remember the words of Rahm? The Democrats want you to question whether or not Wall Street is the right place to invest your money. Wouldn't you be safer if the government kept it for you? The government wants you to believe that it can do a better job of investing and managing your retirement than you can. And for a lot of people who believe that government is the answer, they may fine with this. (click link to continue)


  1. I can barely read this...but IMAGINE if they DO try this? Are even lefties going to go for THIS? I just finished seeing JOHN ADAMS, the HBO special, finally on NetFlix and I can't help wonder what those founding fathers would have thought. MY GOSH are we in trouble....
    thanks for bringing this to our attention. I mentioned it on my CHECKS BLOG, which you will also just not believe...what's going ON!???xxx

  2. Z, I'm absolutely convinced that they're going to try this garbage, as quietly as they can at first. They'll sneak it in under the banner of "reliable retirement savings" or some such horse squeeze.
    There are 3 TRILLION DOLLARS that these kleptocrats are trying to access.

    What's your "CHECKS BLOG"?

  3. Hi Jingo, We are at the government's mercy right now. That's obvious. Here we are wondering when the next shoe will drop. Would we have been so worried three years ago? I don't think so.

    We're in for harder times no matter what. If we felt we were free, during those times, we would have hope. That is not the case right now.

    That is the cause for our angst. We, as it stands, are not free to deal with whatever comes down the pike. The SOB's running things have the upper hand, and that has to change.

    Jingo, I'm 71 years old, and never, in my life, have I felt so threatened by my own government. If we don't fight back and resist, all is lost.

    My main focus is my kids and grandson, and I'll be damned if some leftists are going to steal everything my family has worked so hard for without a fight.


  4. Pris you're right to feel "threatened" by the government because they're behaving in a lawless fashion. All I can say is pay VERY close attention to your investments and dividends. Protect them for yourself and for your family, and if you feel that they are threatened, cash out and buy gold.

    That's what I'd do because it's not likely to lose value in the days ahead.
    Don't buy shares in gold, buy it and HOLD it.

    Thanks for stopping by!

  5. Check out this Yahoo headline tonight:

    "ARE YOU SAVING ENOUGH?" (subtle, isn't it? I wouldn't put it past our media to start with this kind of article, drip drip Americans are ready to throw their hands in the air and say "NO, I CAN'T save enough! How COULD I?..Government's just GOT to help me!"...would you put it past them?)

  6. I've thought for a while that there was going to be some form of quiet revolt. With this current administration I'm of the opinion that there is most definitely going to be a revolution, and it will be PUSHED by Mr Obama and his sycophants. He has no concept of "enough" and "leave things alone" and "let people be." I'm just, at this point, unsure of the form of the revolution coming; whether it will be by unified refusal of some kind, unified boycott, unified stoppage, or whether it will take the form of some actual kind of violence against government.

    As John Kennedy once said, "Those who make peaceful revolution impossible will make violent revolution inevitable."


  7. BZ, that's a great Kennedy quote. I hadn't heard it before. I have thought, that the politicians should be grateful for the tea parties and town halls. They give the people a way to be heard. If anyone thinks shutting them down somehow is an improvement, they're not thinking.

    The anger could explode without a peaceful way for it to be expressed. I pray they don't push us as far as I fear they will. If they do, it's Katie bar the door! Who knows? Maybe that's what the left wants.


  8. I've had those same questions rattling around inside my thick skull BZ. What form would the Tea Party protests eventually take? What would it take for some REAL violence to break out?
    What button would need to be pushed by these authoritarian sob's?

    Maybe if these fascists push their health care takeover through using the reconciliation process?
    I think the seizure of retirement assets would send me to DC armed to the teeth.

    Pris they ARE governing without the consent of the governed, especially with the CRAP they're pulling. It's nice to know that I'm not the only one who's had it up to here!

  9. I have heard BZ take from many-some of whom would never have considered thinking it several years ago!!!
    Open revolt in this country-never! they would say...I must say-I was praying that we in the US would have awakened a little sooner - but- with the re-written history taught in our schools for the last 60-70 years...the citizens were ripe for 'mind control' ...
    Is it too late for a peaceful - voting- revolt--I hope so..but- I would not be surprised if things got really ugly...

  10. That would be>>>
    Is it too late for a peaceful - voting- revolt--I hope NOT!!!!...

  11. I hope you're right CS. They're making it harder by the day with the CONSTANT offenses against our way of life.

  12. In short, they haven't "wasted a good crisis" since taking that sums it up my friend!!!:)

  13. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. -United States Declaration of Independence

    The key words: while evils are sufferable. Evils are always sufferable, even, torture and death. If we were going to revolt, we would have done so, long ago. The only reason we won our first war for independence is because England was so far away. Anyone think our President would not: Nuke a US city to quell a rebellion? Implement the conversion techniques of his father's religion? We already live in an era where we are encouraged by our government to spy on our neighbors and inform the government. What do you think reporting drunk driving, minors consuming alcohol, animals at large, is? Just a slippery slope to telling the government anytime your neighbor "steps out of line". Can you trust anyone?

    For fifty years our public school systems have been feeding every child communist ideas. How to be good little wards of the state. Every single person coming out of the public school system has to fight the public school training that the government will provide everything. Where is the free press? The Internet? how much longer? Have you seen Mr. President's plans for that? It's a small step from here to Venezuela, China, Stalin.

  14. Tragedy 101. Although I understand your pessimism, I certainly don't share the depth of it. I do think that this ghetto commie man-child has roused the electorate in ways unseen since the Civil War, and that they WILL start revolting in more ways than just Tea Parties if it continues. I'm not sure what form(s) that revolt will take, but it's already started in many ways.

    As for Obie nuking a city to quell a revolt: I doubt it. But let's just say he was so inclined. Do you think the military would do it? I don't. They'd remove his A.C.O.R.N. ass from office before it happened.

    Countering the communist influence in public education is hard! I deal with it at least weekly when my daughter asks, "Daddy why does my teacher say..." It's a never-ending fight.

    Thanks for the quote from the Declaration of Independance T-101 !

  15. Well guess what...There is no money in social security. Every dollar that comes in is supplemented by the Governement. I'm over 40 and don't expect to see any.

    Maybe it's just me. But what do Socialist Do Best? Spend other peoples money. Given half a chance they will take it all and more!

    How else will they payback our great grand children's 3 trillion dollar bill!

    But don't worry. The government is Here and they're here to help! "I'll get you my pretties, and you little saving account tooo!" Says the Wicket Witch of the Governmnet!

  16. WisdomFromTorah (fantastic name btw) you're right, the government is OUT OF CONTROL! Even as we write, the bastards are trying to pass the health care takeover without even voting on it !!!

    Sorry to shout homeboy, but the fascists are taking power from the people at a frightening pace and right before our eyes.

  17. I think managing income is always important, but it becomes even more critical during retirement, when your income comes from your savings rather than from wages and earnings. So I always plan my retirement income for the future.