How can you realistically believe the government is not going to take the 401K funds? (retirement plan, cost)
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We have a crises coming. Too many people will be old, and very few of them have anything saved to pay for when they can no longer work. My estimate is that less than half of people my age (mid 50s) have any significant savings or other retirement funding available. It may well be less than 10% have significant savings or other retirement funding sources. An awful lot of people I know have nothing at all avaualbel for retirement.
Social security cannot pay enough to keep them alive and there will not be enough people working compared to the numbers who are too old to work and have no money saved.
The government is not going to simply allow these people to starve, but the government simply does not have money to pay for their old age. There is one pocket of money available to resolve this crises. The 401K funds and other investments of those who saved for retirement. Given the option of letting the masses just starve to death, or simply killing them off, or finding a way to tax/take 401K and other retirement investments and redistribute it so the non-savers do not starve to death. It seems pretty obvious to me which the government will choose.
Sure the people who saved will still likely be better off than the non-savers, but the great hopes of deferred or non taxed income are not going to materialize. The government will have no other choice, it will re-distribute a portion of your 401K or other retirement funding.
People deny this is possible. It cannot happen (because they really really really do not want it to be possible, and therefore deem it impossible) however when asked where else the money will come from, they simply repeat that it is impossible. The law does not permit it (and of course laws never change). So apparently, their answer is the government will simply allow the other people to die.
If you think this is incorrect, then where do you think the money is going to come from to support all the masses of soon to be elderly people with no retirement whatsoever?
The government are experts at printing money, and print they will. They will call it something else, they wil turn it into a shell game, whip out a little magic in the process, and fool most everyone, but in the end they will be printing or borrowing the money and letting the next generation or the one after, worry about it.
Yes. Income is used in a manner that makes it no longer qualified as taxable income. Can I give you specifics? No, not without breaching confidentiality losing my job and my license. Unfortunately those things outweigh your curiosity.
Yes. Income is used in a manner that makes it no longer qualified as taxable income. Can I give you specifics? No, not without breaching confidentiality losing my job and my license. Unfortunately those things outweigh your curiosity.
So you expect us to believe that you cannot specifically explain a common term because it puts you personally at risk to do so? I call BS.
I suspect you've heard it before in your preferred echo chamber, parroted it, but can't explain it.
Since 1933, dollar bills have been worthless IOUs.
The real problem is the obligated party on those notes.
In House Joint Resolution 192, June 1933, CONgress repudiated redeeming them with lawful money (stuff that the USCON requires).
Guess who's left as collateral?
Hint : enumerated human resources.
When the other shoe finally drops, 320 million 'contributors' are liable.
Of course, if a substantial number withdraw consent before hand - - -wuh woh, scooby.
You can send me all the worthless ious you have as I will gladly take them all
Since 1933, dollar bills have been worthless IOUs.
The real problem is the obligated party on those notes.
In House Joint Resolution 192, June 1933, CONgress repudiated redeeming them with lawful money (stuff that the USCON requires).
Guess who's left as collateral?
Hint : enumerated human resources.
When the other shoe finally drops, 320 million 'contributors' are liable.
Of course, if a substantial number withdraw consent before hand - - -wuh woh, scooby.
You can send me all the worthless ious you have as I will gladly take them all
You beat me to it.
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