You better not have a 401K
Posted By: sm on 2008-10-23
In Reply to:
Democrats now want to take your 401K from you and tax the crap out of it beforehand. They also want to set up a government pension where everyone will pay 5% of they pay into a mandated pension plan. Obama is supporting this. Where does it all end? You don't call this complete government takeover? Liberals in the white house will be the death of a free democracy. They will kill this country.
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No 401K here either....... sm
In fact, no real savings to speak of. I'm winging it (no pun intended....okay, pun intended) from paycheck to paycheck.
401K
http://www.pensionrights.org/pubs/facts/401(k)-match.html
If you want to blame someone for your 401K,
nm
We will also be trashing our 401K if the O gets in....sm
...and as I've posted before, if it comes right down to it, I WILL stop working and let the govt take care of me.
I now make $60,000 a year, give or take, and work 12 hours a day 7 days a week. I cannot possibly work any more, and I cannot afford to have the O take my money away and give it to people who don't work at all. When that middle class umbrella cuts in half again...and since it's now 120,000, it could be real soon for me.....there's no way, no how I'll stand for more taxes from my blood and sweat as it is.
As my husband says..... We'll quit working, and become good little communists....if it comes right down to it....and if they try to our guns away, we will go down fighting....and if the thought police come to our door because they don't like what we think? Oh well....we'll take a few of them with us.....
1984 will be here...in ol' 2009......and it ain't pretty.
I am STILL pulling for McCain......as Rush says, if we have to drag Yosemite Sam's behind over the finish line, we have to drag it over....and it's gotta be done.....
My husband and I have had the same 401K, of which 1/2 is.....sm
General Dynamic stock, the company he has worked for for 27 years. Well, our stash there is now about half what it was, our retirement, essentially. We are hoping and praying that by staying into the market that we will be able to recoup some of this as the market rebounds..GOD WILLING!!! I am sooooo sorry for all the folk who have gotten hurt in the banking collapse and the crash, so not fair to hard-working Americans. We need stricter laws, I think, stricter regulations once again on banking and corporations. JMHO
401K/retirement fund
You can't "take" your pension and 401K out of the stock market if you are not retirement age. We are stuck with whatever the companies we work for invest in. my husband and I have some choices about where we invest our 401K but they all involve mutual funds, stocks, bonds, etc.
WHAT 401K? Mine evaporated after the
And since my job will probably end up in India soon anyway, I'll be the next one needing a government handout. So bet your bippy I'm voting for a democratic president!
re-did 401k's or IRAs since the election?
i saw a couple of people saying they would if Obama was elected. I re-did mine. Did you?
Oh geez -- my 401K is now LESS than half of
And the feds are now going to buy STOCK in failing companies with the bailout money. Real intelligent. Where's MY 'bailout' ?
Yeah, and if he wins, I will be pulling my 401K
I don't want to pay any more taxes on my 401K than I have to. O wants to tax it. We already pay taxes on it when we take distribution, so that's double taxation and I want no part of it. I don't have much but I sure want to keep what I have.
A lot can happen in the next 2 days and hopefully, things will go from blue to red where needed.
Doesn't matter - my 401K is losing an average of $3K
per DAY. Not per week, per DAY. If the loss continues at this rate, it will hit a zero balance and I'll have nuthin' to lose. So I'm voting for Obama, cuz I sure as he11 don't want that old Republican prune taxing my HEALTH CARE next.
my 401K from a previous employer hasn't lost much
but it's in low risk investments, a lot of bonds, and so when things get better, it probably won't rise as quickly as other 401k's. I'm a chicken.
I saw Jim Cramer this morning too. I have J&J stock and my 401K through Merrill Lynch
I am really upset and not sure what to do.
No need to worry about your 401k, democrats would like to absord it into the Social Security system.
xx
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