"The U.S. Supreme Court ruled last week in the unanimous 8-page decision, Tibble v Edison, stating that employers have a duty to protect workers in their 401(k) plans from mutual funds that perform poorly or are too expensive. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits. The Supreme Court held in the 1980 case HARRIS v McRAE, that there is no duty imposed upon the state to provide a public program, for that would convert the constitution from a negative restrain upon government to a positive obligation to provide for everyone."
Read the WHOLE thing and make your own determination.
The Replica Prop Forum
Very cool site I am also a member of
Showing posts with label 401k. Show all posts
Showing posts with label 401k. Show all posts
Tuesday, May 26, 2015
Saturday, April 13, 2013
"How many times have you read financial-advice stories lecturing you to max-out on your IRA, save as much as you can in your 401(k), and even pay taxes now to change your regular IRA into a Roth IRA that will be tax-free until you die?
Well, be careful how much you save.
That's the message in President Obama's budget for fiscal 2014, which for the first time proposes to cap the amount Americans can save in these tax-sheltered investment vehicles. The White House explanation is that some people have accumulated "substantially more than is needed to fund reasonable levels of retirement saving." So Mr. Obama proposes to "limit an individual's total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million for someone retiring in 2013."
SO if you are planning for your retirement in a responsible fashion, you are going to be penalized for it.
I"m sorry Mr President, you have alrdy shown that YOU and your advisers can't choose a winning financial plan if your lives depended on it.
I'd much rather trust my own judgement as to what I want to invest in and how much I wish to invest.
For you to come along and change the rules now smacks of imperialism and dictatorial assumption of powers not Constitutionally allowed.
Well, be careful how much you save.
That's the message in President Obama's budget for fiscal 2014, which for the first time proposes to cap the amount Americans can save in these tax-sheltered investment vehicles. The White House explanation is that some people have accumulated "substantially more than is needed to fund reasonable levels of retirement saving." So Mr. Obama proposes to "limit an individual's total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million for someone retiring in 2013."
SO if you are planning for your retirement in a responsible fashion, you are going to be penalized for it.
I"m sorry Mr President, you have alrdy shown that YOU and your advisers can't choose a winning financial plan if your lives depended on it.
I'd much rather trust my own judgement as to what I want to invest in and how much I wish to invest.
For you to come along and change the rules now smacks of imperialism and dictatorial assumption of powers not Constitutionally allowed.
Monday, March 18, 2013
About Cyprus - more added
"Sure, they didn’t call it confiscation, but that’s essentially what it is. Pure unadulterated theft.
There’s two things that are concerning here. First, this was done primarily by the European Central Bank. No, they can’t legally do it, but the pressure to sieze the cash came from them. Rumor has it they wanted 40%, not 10%.
They flat out said over the weekend that Italy is next on their radar. It’s reasonable to think that Greece won’t be that far behind.
That’s a worrying thing for sure. But a side comment by one of the guys involved in Cyprus caught my eye a little more. He said (paraphrased) that if they get away with this, then everyone’s going to do it."
Couple with the Obama Administration eyeing our 401k's and IRA's, I wonder just how long before some dim Dem in Congress suggest we follow the EU's example.
And just what is that going to do to our economy.
ETA:
FINANCE: THE CYPRIOT CONFISCATION IS TERRIFYING
POSTED BY ANN BARNHARDT – MARCH 16, AD 2013 9:27 PM MST
Yes, it is every bit as bad as it sounds, and worse. Word is that the initial plan was for a 40% (!!!!) levy confiscation of Cypriot bank accounts. They settled for a MERE 6.75% and 9.9% dual-layered compromise.
And Peter has more for you to ponder: This isn't a 'tax' - it's theft, pure and simple
There’s two things that are concerning here. First, this was done primarily by the European Central Bank. No, they can’t legally do it, but the pressure to sieze the cash came from them. Rumor has it they wanted 40%, not 10%.
They flat out said over the weekend that Italy is next on their radar. It’s reasonable to think that Greece won’t be that far behind.
That’s a worrying thing for sure. But a side comment by one of the guys involved in Cyprus caught my eye a little more. He said (paraphrased) that if they get away with this, then everyone’s going to do it."
Couple with the Obama Administration eyeing our 401k's and IRA's, I wonder just how long before some dim Dem in Congress suggest we follow the EU's example.
And just what is that going to do to our economy.
ETA:
FINANCE: THE CYPRIOT CONFISCATION IS TERRIFYING
POSTED BY ANN BARNHARDT – MARCH 16, AD 2013 9:27 PM MST
Yes, it is every bit as bad as it sounds, and worse. Word is that the initial plan was for a 40% (!!!!) levy confiscation of Cypriot bank accounts. They settled for a MERE 6.75% and 9.9% dual-layered compromise.
And Peter has more for you to ponder: This isn't a 'tax' - it's theft, pure and simple
Monday, August 6, 2012
Peter caught this about your 401K and retirement accounts.
over at Ann Barnhardt's site. I have Ann in my blogroll, however her page won't allow me to direct link, Peter however took some important exceprts.
"Teresa [Ghilarducci] is a member of the faculty at The New School in New York City, which is a Socialist University. Now, you might say, "Ann, ALL universities in this country could rightly be called "socialist" nowadays". True dat. But the New School makes Berkeley and Columbia look like Oral Roberts University and BYU by comparison. No, the New School is LITERALLY a socialist university. It was originally called the "University in Exile" and was begun by a bunch of Neo-Marxist scholars who were thrown out of fascist Italy and Nazi Germany in the early 1930s. Yeah. Remember my post about how Marxists purge intellectuals? But the other, somewhat humourous angle is that these guys were such extreme Marxists that they made Hitler and Mussolini UNCOMFORTABLE. Wowzer. So, they emigrated to NYC, where they would Fit. Right. In. Dude."
I STRONGLY suggest you go RTWT
"Teresa [Ghilarducci] is a member of the faculty at The New School in New York City, which is a Socialist University. Now, you might say, "Ann, ALL universities in this country could rightly be called "socialist" nowadays". True dat. But the New School makes Berkeley and Columbia look like Oral Roberts University and BYU by comparison. No, the New School is LITERALLY a socialist university. It was originally called the "University in Exile" and was begun by a bunch of Neo-Marxist scholars who were thrown out of fascist Italy and Nazi Germany in the early 1930s. Yeah. Remember my post about how Marxists purge intellectuals? But the other, somewhat humourous angle is that these guys were such extreme Marxists that they made Hitler and Mussolini UNCOMFORTABLE. Wowzer. So, they emigrated to NYC, where they would Fit. Right. In. Dude."
I STRONGLY suggest you go RTWT
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