Gov't seizing 401K money

In 2010 it was discussed in Congress.
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It had no traction, so it was dropped.
Hillary Clinton made an attempt at a form of Obamacare when Bill was prez. 10-12 years later, we got "Universal Healthcare" or gov't takeover of healthcare rammed down our throats.

401k's will be seized eventually. It may take 10 years, maybe less.
There are many ways to takeover 401k's. They could force people to contribute 25% into gov't bonds that pay nothing. This could be added to what the Fed buys. There are many games they could play.
They could take it from the "rich" first, but that won't be enough. Then lower the bar slowly over time until you are considered "rich" just for having a 401k. They will call you mean spirited for not "sharing" it with people on food stamps. They will completely ignore the fact that you worked hard for years to save this money.
They will sign the bill on a Friday after 5pm, and no one will report on it until Monday, so it will be too late to make a move.

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someone convince me that this can't happen here

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Theoretically it could happen here, but it's ridiculously unlikely. Stop listening to Alex Jones

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It's being attempted in other countries,

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Where? In fact, please elaborate on what other countries have 401(k) plans. Thanks.

I don't know who Alex Jones is and I'm no conspiracy theorist, but I honestly don't think it's outside the realm of possibility that if the majority of voters aren't heavily invested in tax advantaged accounts, the government will find a way to change the rules.

it could happen. they will have to increase revenue to pay for this debt and our unfunded liabilities so i wouldn't rule anything out. i think a more realistic scenario is them raising the early withdrawal penalties on 401ks and IRAs from 10% up to 20-30%.

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I may be delusional, but it would seem to me that any attempt by the Govt to tap into 401/403 funds would get true bipartisan push back from the American public.


There was push back with Obamacare. There will be push back if something like this was being passed. It won't stop the government. They'll continue to frick over the people.

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Difference is the people thought they were getting something for free (legislating their own well-being etc.). The people won't care about paying down debt so the hell with taking money out of savings accts.

I'm in my 20s. I won't be able to retire?

Buy bitcoins and duct tape, mother frickers

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Buy bitcoins and duct tape

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How are we going to corner the market if you keep telling everybody our plan?