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Demo-Dictatorship & “Your” 401k and IRA

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  • Sat, Jan 09, 2010 - 02:59pm

    #1
    Davos

    Davos

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    Demo-Dictatorship & “Your” 401k and IRA

Desperate people do desperate things. 

FYI…

  • Sat, Jan 09, 2010 - 03:29pm

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

Thanks for the heads up Davos.  The government is our greatest enemy and threat.  It is time for good American’s to stop fighting immoral wars in Iraq, Afghanistan, Yemen, Iran, Pakistan, etc.  Our moral battles are in Washington and Wall Street.

Larry

 

  • Sat, Jan 09, 2010 - 03:55pm

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

[quote=DrKrbyLuv]

Thanks for the heads up Davos.  The government is our greatest enemy and threat.  It is time for good American’s to stop fighting immoral wars in Iraq, Afghanistan, Yemen, Iran, Pakistan, etc.  Our moral battles are in Washington and Wall Street.

Larry

 

[/quote]Pleasure. I think they will implode, they, like Enron are a very self destructive bunch. Sad that they will take a lot of good people down with them. 

  • Sat, Jan 09, 2010 - 04:36pm

    #4
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

Just curious, my dad has been pushing me to get a Roth IRA so I can deduct the $5000 from my taxes.  I currently just have a individual account that I invest in oil and mining companies.  Do you think Roth IRA is a good choice with what is going on?  Or should I continue to just invest in my individual account and physical metals?  I don’t want to invest in a IRA for the very reasons above, who cares if it is tax free if they mandate what I do with it.

  • Sat, Jan 09, 2010 - 05:29pm

    #5
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

[quote=leo0648]

 who cares if it is tax free if they mandate what I do with it.

[/quote]

  • Sat, Jan 09, 2010 - 05:49pm

    #6
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

Add this story to the “Your Banker Can Freeze Your Money Market Account Whenever They Feel Like It” story — (http://www.zerohedge.com/article/government-your-legal-right-redeem-your-money-market-account-has-been-denied) — and it gets too surreal to really get my mind around….

(Fortunately I have neither a 401k nor an IRA nor a MMA…  But I feel for those that do…)

Viva — Sager

  • Sat, Jan 09, 2010 - 06:52pm

    #7
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

Hello SagerXX,

I don’t think the legislation in the Zero Hedge article has passed yet.  The article headline makes it look like it’s a done deal. 

I’d sure appreciate being corrected on this if it is indeed law, or, maybe someone has some info on the legislation time table.

Thanks,

Larry

  • Sat, Jan 09, 2010 - 07:05pm

    #8
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

True, the ZH article is about a proposed rule.  But there seems to be an emerging trend of “Let’s Get Our Gummint Crowbars Into the Private Accounts”….

People talk (in the gold confiscation? threads) about how going after MMAs and 401-Ks would be a thing eventually.  These are pretty clear signals, seems to me.

Viva — Sager

  • Sat, Jan 09, 2010 - 07:58pm

    #9
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

 

“Just curious, my dad has been pushing me to get a Roth IRA so I can deduct the $5000 from my taxes”

 

 I thought that we had to pay taxes on the initial Roth IRA investment. I think after that the capital gains are not taxed (under the current law) when you make the withdrawals. I also am mistrustful of this system. They are getting their tax money up front and who knows what will happen after that.

 

  • Sat, Jan 09, 2010 - 08:14pm

    #10
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Demo-Dictatorship & “Your” 401k and IRA

[quote=VeganD]

 

“Just curious, my dad has been pushing me to get a Roth IRA so I can deduct the $5000 from my taxes”

 

 I thought that we had to pay taxes on the initial Roth IRA investment. I think after that the capital gains are not taxed (under the current law) when you make the withdrawals. I also am mistrustful of this system. They are getting their tax money up front and who knows what will happen after that.

 

[/quote]

Let me answer your question with a question.

Do think that the rules will always stay the same or do you think the gov. might change the rules to suit their needs?

 

Ken

 

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