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RELIGION, CURRENT EVENTS, TECHNOLOGY Subscribe to the breaking newsWhat is RSS?
FRONT PAGE  |  11/28/2014
MONDAY, NOV 26, 2012  |  18 comments
Now Obama wants your 401(k)

Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.

Remarkably, those financial professionals specializing in private retirement savings and the U.S. citizens investing in private retirement plans now face the possibility the Obama administration and its allies on the political left will impose rules and regulations that effectively abolish the private retirement savings and investment markets.

Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement ...


CLICK HERE to Read Entire Article
www.wnd.com

Response to economic crisis?
  START  
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COMMENTS | show all | add new  
    Sorting Order:  
· Page 1 ·  Found: 18 user comment(s)
News Item8/22/14 3:05 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
UPS, I did read the WND article, what I put up has nothing to do with that. The only government action that was mentioned in the PBS program was the idea that financial advisers should have to state publicly if they acting in a fiduciary role (and perhaps demand that? I don't remember the program that well ) instead of being insurance or used car salesmen, in reality. So, it would seem many conservatives should like the financial advise --though may not like some of the people giving it? So, I hope all this discussion doesn't have thinking of the Wall Street closing bell.
18

News Item8/21/14 11:31 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
Ups, I have to say my two previous posts had nothing to do with the article . They do have something to do with 401 K's and that is why I put them up here. I didn't see much inother threads having much to do with 401 K's.

Gasp! The Wall Street Journal left of center? I'll have to tell my other conservative contacts they are being corrupted.

UPS, you are definitely listening to too much of right wing radio. I respect the intelligence all the users of the SermonAudio news threads, as I certainly do your intelligence, I expect people tobselect out ofvthe material they hear or read and note what applies to them. I didn't see very much liberal material and this particular frontline show.

Anyway, may we both read what is really important often, and that is the Bible

17

News Item8/21/14 9:46 PM
Unprofitable Servant | Georgia  Find all comments by Unprofitable Servant
Jim Lincoln wrote:
Again someone who didn't look at the program...
Do those right- wingnuts of the John Birch Society dislike the WSJ, UPS?
Several things brother Jim,
1. I don't believe this article is about so called right-wing nut jobs and surely don't think that right-wing and nut job belong in the same sentence.

2. The article isn't about the left leaning PBS special on retirement or people pouring money into the Vanguard group. Also, no, WSJ is actually left to middle, it is only their editorial board that leans right, not the newspaper.

3. The article is about how the Obama administration wants to take money out of the private sector and its control of it and fund unions and the public sector. So, you points don't touch on what the article is about.

If you think an administration that has accumulated more debt than all the previous presidents combined, has passed one budget in 5 years, rejected any spending reduction, and has gotten in the way of what might be a robust recovery with their job hurting policies and the unaffordable care act is good, then enjoy the consequences(still no day there were more employed under Obama than under Bush) Reagan inherited worse and economy was booming by this time in his administration.

16

News Item8/21/14 8:31 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
Again someone who didn't look at the program UPS it really had a lot of coverage of Vanguard, which the Wall St. Journal had an article on today. Now is the WSJ left leaning? If you aren't a subscriber, this should give you the gist of the WSJ article. Investors Pour Into Vanguard, Eschewing Stock Pickers.

Do those right- wingnuts of the John Birch Society dislike the WSJ, UPS?

15

News Item8/20/14 5:16 PM
Unprofitable Servant | Georgia  Find all comments by Unprofitable Servant
PBS is for the most part a left leaning source. Just like ABC, NBC, CBS, CNN (and their affliates) they can be counted on to tow the liberal line, just like Jim from Lincoln. From the article

The Service Employee International Union, or SEIU, a key labor union ally of the Obama administration, has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced into U.S. Treasury debt.

More pro-union stuff and taking money from the private sector and moving it into government coffers. The fact that Medicare and SSA trust fund are facing bankruptcy are excellent proof you don't need the government running your 401k.

14

News Item8/20/14 2:45 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
Apparently, Mike of N.Y., you neither watched the show or the various other shows and transcripts that were there? It pointed out that people should handle their own money. Do mean that J.P. Morgan should be given free reign to makes themselves rich art your expense? I heard of index funds long ago, and somewhat sorry I didn't put some money into them Read the transcript is you don't watch the show, by the way if you watch the show on the Internet, you will get commercial advertisements So, if they repeat this week on PBS watch it there. As I said there's a transcript for the show at the bottom of the page.

Everybody knows that Obamacare is an excellent alternative to the new GOP medical care program:

1. Don't get sick. (Actually advice I try to take.

2. If you do get sick, die quickly while that also may be good advice when it comes to dying the Republican plan doesn't do anything to help you avoid either points of their plan.

If ObamaCare Is So Bad, How Does RomneyCare Survive? You'll have to hit "Continue" to get past the thought of the day, what a brilliant GOP plan too bad they became the Greedy Old Party.

13

News Item8/20/14 9:21 AM
Mike | New York  Find all comments by Mike
Jim Lincoln wrote:
Well, Lurker, I'm not quite the type that wants to do nothing, but keeping track of money can go over the line in being Christian.
But! I will recommend people watch this PBS Frontline show, which may be repeated yet again, it was on yesterday Aug. 19, 2014, and it was repeated from the 2013, but anyway, you can see it on the Internet, The Retirement Gamble (If you go to the bottom of the page, you can also see the transcript for this video) I just saw it on the Internet, and one of the things that calm me down is,
Matthew 6
34 "Therefore do not be anxious for tomorrow; for tomorrow will care for itself. Each day has enough trouble of its own.---NASB
Yet instead of giving heed, you support whatever novel govt effort to take care of you that comes along. You know the ones- Obamacare for your body, Common Core for your mind, etc. It's no wonder you think Christians shouldn't go over the line thinking about money. The govt can do it for you and so leave you to pretend you're still being biblical.
12

News Item8/20/14 3:41 AM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
Well, Lurker, I'm not quite the type that wants to do nothing, but keeping track of money can go over the line in being Christian.

But! I will recommend people watch this PBS Frontline show, which may be repeated yet again, it was on yesterday Aug. 19, 2014, and it was repeated from the 2013, but anyway, you can see it on the Internet, The Retirement Gamble (If you go to the bottom of the page, you can also see the transcript for this video) I just saw it on the Internet, and one of the things that calm me down is,

Matthew 6
34 "Therefore do not be anxious for tomorrow; for tomorrow will care for itself. Each day has enough trouble of its own.---NASB

11

News Item11/27/12 7:46 AM
Christopher000 | Rhode Island  Find all comments by Christopher000
I do trust in Him but it will still make me angry because they already steal 40% of my income and use it in part to fund their lavish dinners, vacations, etc.
10

News Item11/26/12 5:11 PM
The poster formerly known as Russ | Texas  Find all comments by The poster formerly known as Russ
Beverly,
I'm down with keeping your own savings, but maxing out your credit cards without the intent to pay it back is simply stealing.
9

News Item11/26/12 4:55 PM
Beverly Martin | Beulah Land  Find all comments by Beverly Martin
This story confirms it for me!
I'm going to keep all my savings under the mattress (and max out on my credit cards so I won't have any savings for the govt to come after!)
8

News Item11/26/12 2:38 PM
Neil | Tucson  Find all comments by Neil
If this is indeed the case (never know whether to trust WND as a news source), then simply take the tax hit & liquidate your 401K, & invest in something that doesn't have "United States" printed on it, IAW Prov. 27:12.
7

News Item11/26/12 12:40 PM
1517  Find all comments by 1517
JPW,

My point was not to advocate a "let go and let God" position, but to remind Christians that God is still there and allows or decrees all things on this earth. Even if you prep, pull your investments out, on and on, God's WILL be done. He has your 401k as well as Obama's life in His hands. That was my point. That is what needs to be emphasized, not hand wringing head for the fall out shelters. We are sojourners, not permanent residents.

6

News Item11/26/12 10:34 AM
Lurker  Protected NameFind all comments by Lurker
jpw wrote:
we have been conditioned to do nothing.
And the same Christians who shout 'Don't fret,' "God is in control" sit on their comfy pews and refuse to go out in the highways and byways and compel the lost and perishing to come into God's house (which is not a building made by hands, btw) so it may be full.

God uses means. Christians need to fight against another government takeover or hold our peace when it becomes the law of the land.

5

News Item11/26/12 10:07 AM
jpw  Find all comments by jpw
I knew people who pulled their investments before the housing bubble, bailout crash and did fine. I heard of others who left their money in and lost most of it.

I also dodge huge busses coming directly at me when walking down the road.

that's why 1517.

it's good to be informed. the Jewish people who fled the camps through Holland survived and those who remained did not.

funny how Christians want to not know.

when a snowstorm comes do we not pull out candles, warm blankets, and food, water?

but HS calls preppers dangerous, while the preppers of NY were kept from digging in trash bins.

we have been conditioned to do nothing.

4

News Item11/26/12 10:04 AM
future aspect  Find all comments by future aspect
"to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt"

**The United Socialist States of America.**

Obama and the (very Liberal) Democrat party are leading America to Big Brother - A socialist run country. Capitalism is dying. And the sad thing about it is that this is what the people voted for - Because of the new majority variegated ethnic face of America.

Soon America will be just like Europe and the UK with the acrid smell of socialism permeating every facet of society government and life. A growing population of Bureaucrats will tell the people what to think, what to say and what to do.

3

News Item11/26/12 9:53 AM
1517  Find all comments by 1517
Is GOD still in control? Why is this on a Christian website? If GOD providentially allows this to happen, then it will happen. Trust in Him and stop wringing your hands because of this conspicuously Godless administration.
2

News Item11/26/12 7:05 AM
Christopher000 | Rhode Island  Find all comments by Christopher000
I had been wondering what would be next. Great.
1
There are a total of 18 user comments displayed | add new comment |Subscribe to these comments
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