PDA

View Full Version : Banking Crisis Worsens


Bawana jim
September 05, 2010, 18:18
"Just to show you how out of touch with reality the administration and Congress is the Democrats have introduced two new bills, The Debt Free America Act, HR 4646, which would put a 1% sales tax on credit card and securities transactions in the US and the Automatic IRA Act of 2010, which would decree a mandatory payroll tax on all workers of 3%, to be used to purchase government retirement bonds. That tax is expected to rise to 15% within three years. "

http://www.freerepublic.com/focus/f-news/2583739/posts

So they have stolen our SS money and now want another 15%

jim

gates
September 05, 2010, 18:53
heh... so maybe they decided taking existing retirement accts was too - ahem- complicated - no sweat, they will just steal more from this point on...

shlomo
September 05, 2010, 19:16
Originally posted by Bawana jim


So they have stolen our SS money and now want another 15%

jim

Dunno why they wouldn't. Nobody has swung yet for the first fraud. Success breeds repeat business.

carguym14
September 05, 2010, 19:55
Originally posted by shlomo


Dunno why they wouldn't. Nobody has swung yet for the first fraud. Success breeds repeat business.


Yep,paper tigers aren't all that scary............

RG Coburn
September 05, 2010, 21:52
Originally posted by Bawana jim


So they have stolen our SS money and now want another 15%



When the Titanic sank,some crew members reportedly ripped lifejakets off children.

Sorta history repeatin' itself.

Barbcue
September 05, 2010, 22:44
Originally posted by RG Coburn
When the Titanic sank,some crew members reportedly ripped lifejakets off children.

now that is all sorts of messed up .

dont know if could have stood by and watched that

:redface:

Skilter
September 07, 2010, 02:09
Af gan... expect a short bank run in the US early Tuesday.

tuck0411
September 07, 2010, 14:11
Originally posted by gates
heh... so maybe they decided taking existing retirement accts was too - ahem- complicated - no sweat, they will just steal more from this point on...

Not so fast... from the article:
"This Automatic IRA Act is a foot in the door for financing government deficits. It will be followed by legislation that will force present IRA, 401k and all retirement plans to purchase retirement treasury bonds, which will be called, Guaranteed Government Annuities. This has been buried within the Automatic IRA legislation. "

Dunno if the text of this bill is online yet, but it would be interesting to see if it actually has text in it affecting existing retirement accounts.