MONEY: Rumors about the pot of trillions in IRAs and 401ks

Friday, April 23, 2010

http://whiskeyandgunpowder.com/401k-as-dangerous-as-the-dollar/

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You’re going to have to pay taxes on those funds eventually anyway, and far better to snatch two-thirds or so of the prize away before it gets dumped into the general fund and is spent on housing for Hamas, the snail darter, uniforms for the Obama Youth, excruciatingly bad modern “art,” or more perquisites for Congress. Even half a loaf will be better than none…if you turn it quickly into objects of intrinsic value, such as gold, silver, diesel oil, and emergency rations.

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Another doomsday prediction about OBH44 with the congresscritters seizing the 401ks. Makes sense since all they have to do is strong arm all “the custodians”. Like Rooosevelt’s “bank holiday” and gold call in, one day you got and the next day you don’t. I’m no so sure that “cashing out” and paying the tax penalties is a smart strategy either. Sigh! One MIGHT consider NOT putting more into the 401ks or IRAs. If it does get seized, it’s going to be catastrophic to the market confidence. So the stock markets will be going south! So maybe cashing out is a good strategy. You lose either way. So maybe commodities that you can put in your “mad money” jar makes sense. 1 to 10% of your portfolio?

Once you decide to do that, I’d go for 1 ounce silver rounds. And, if you’re into the “band aids, beans, and bullets” philosophy, some bricks of 22’s will be a good commodity.

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QUOTE: Three or more useless men

Monday, April 19, 2010

FROM LUDDITE:

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In my many years I have come to a conclusion that one useless man is a shame, two is a law firm and three or more is a congress.

—John Adams

Fight organized crime: Re-elect NO ONE…

*** end quote ***

Seems simple enough!

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POLITICAL: Some folks give up; nice to have that option

Saturday, April 17, 2010

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?
storyid=201004050814dowjonesdjonline000053&title=more-am
ericans-give-up-citizenship-as-irs-gets-aggressive-overseas

More Americans Give Up Citizenship As IRS Gets Aggressive Overseas
By Martin Vaughan, Of DOW JONES NEWSWIRES

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In order to give up U.S. citizenship, a person must obtain or have citizenship in another country. The person surrenders their passport or green card during an interview with a consular officer in their new home country. He or she must also submit a form, including a list of assets, to the IRS to complete the process.

Chris Kavanagh of the American Institute in Taiwan, which represents U.S. interests in Taiwan, said 43 people gave up their U.S. citizenship in Taiwan in 2009, the highest that figure has been since 2003. He cautioned against drawing conclusions from that data, however.

The IRS says some of the swelling of numbers of expatriations towards the end of 2009 occurred because the agency made a push to notify people that had already surrendered their passport, but had not completed the process by submitting the IRS form. Until that form is received by the IRS, these people are still subject to U.S. tax. “There is some catch-up going on,” said IRS spokesman Bruce Friedland.

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Wow, things are really going bad.

Now we are exporting rich people. And, importing poor ones.

This can’t be good for the economy.

When does the tyrant close the borders? Camps next? And, the sheeple keep getting shorn!

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POLITICAL: Vote by dollars; count all the dollars that are stolen from us

Thursday, April 15, 2010

http://www.americanthinker.com/blog/2010/04/no_representation_without_taxa_1.html

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“What’s good for General Motors is good for the country.” Since we now “own” GM and other “private” entities we can easily adopt the proxy voting systems used in corporate America for federal elections (in corporate elections each shareholder gets voting power in proportion to shares owned). Each eligible voter would have a total number of votes equal to the dollar amount paid in personal federal income taxes over the previous two years. If you paid $20,000 in taxes you get 20,000 votes. If you paid $200,000 in taxes you get 200,000 votes. Again, what could be fairer?

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Of course, we’d have to eliminate ALL the hidden taxes we pay. Sales tax, capital gains, etc. etc. etc. And the two biggest taxes of all — inflation and the corporate income taxes that get passed on to real people!

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RANT: VAT on spending “tax free” dollars

Thursday, April 15, 2010

http://dumpdc.wordpress.com/2010/04/05/america-prepare-for-an-avalanche-of-taxes/

America: Prepare For An Avalanche Of Taxes
by J.D. Longstreet

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Charles Krauthammer has authored a piece entitled: “The ‘value added tax’ is coming to America” In his article Krauthammer says: “People are used to sales taxes, and this one produces a river of revenue. Every 1 percent of VAT would yield up to $1 trillion a decade (depending on what you exclude – if you exempt food the yield would be more like $900 billion).

It’s the ultimate cash cow. Obama will need it. By introducing universal health care, he has pulled off the largest expansion of the welfare state in four decades. And the most expensive. Which is why all of the European Union has the VAT. Huge VATs. Germany: 19 percent. France and Italy: 20 percent. Most of Scandinavia: 25 percent.

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Social Security was supposed to be tax free. Then the Democratic congresscritters reneged on that pledge, so it’s included in your income tax.

Roth’s were supposed to accumulate tax free since you already paid tax on them.

After the plague of taxes, you save a few bucks.

Then, when you go to spend them, you’re paying taxes.

Hidden taxes abound in the cost of products and services thanks to the corporate taxes.

When do we say “Stop, thief!”?

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QUOTE: The Sixteenth Amendment

Thursday, April 15, 2010

“It was not until the Abraham Lincoln administration that an income tax was imposed on Americans. Its stated purpose was to finance the war, but it took until 1872 for it to be repealed. During the Grover Cleveland administration, Congress enacted the Income Tax Act of 1894. The U.S. Supreme Court ruled it unconstitutional in 1895. It took the Sixteenth Amendment (1913) to make permanent what the Framers feared — today’s income tax.” — Walter Williams

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INTERESTING: Beck has Laffer and says 11% flat

Monday, April 12, 2010

Glen Beck has Laffer ont he TV show today. He says with 11% will fully fund the gooferment today at current levels. He points out that Jerry Brown want it at 13%, with the extra 2% to pay off the national debt.

Why not?

Other than taxes ARE theft! (If I’m going to be robbed, then I’m for them stealing much much less.)

Argh!

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RANT: The moochers and the payers

Saturday, April 10, 2010

http://www.charlotteobserver.com/2010/04/07/1362516/nearly-half-of-us-households-escape.html

Nearly half of US households escape fed income tax
By STEPHEN OHLEMACHER Associated Press Writer
Posted: Wednesday, Apr. 07, 2010

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WASHINGTON Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem.

About 47 percent will pay no federal income taxes at all for 2009.

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Doesn’t anyone see a problem with this? Didn’t Ben ward against “comfortable poverty”? And, “those people” get to vote?

Does NOT seem fair!

Argh!

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GOVEROTRAGEOUS: Zero-Day School Weeks

Wednesday, March 24, 2010

http://cbs2chicago.com/local/four.day.school.2.1583104.html

Mar 23, 2010 6:27 pm US/Central
4-Day School Weeks Might Be Coming In Illinois
State House Has Passed Bill Allowing School Districts To Set Up Shorter Weeks; Mayor Daley Has Doubts
SPRINGFIELD, Ill. (CBS) ―

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Add an entire school day to the chopping block. State lawmakers want to move financially struggling schools to four day weeks. They say it will save money, and it won’t affect classroom time.

*** and ***

Kids would still have to complete the same number of hours per school year, so switching to four-day school weeks would mean longer school days or shorter summer vacations.

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I have an idea that will save a lot of money.

Close the youth indoctrination centers completely and forever!

It’s immoral to make people pay for things that they did not agree to pay for. Parent had ’em. Parents feed, clothe, and shelter them. They should educate them too.

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POLITICAL: Drew Cary and Reson save Cleveland — Part 3

Saturday, March 20, 2010

http://www.youtube.com/watch?v=g9-ozphsuSk

Why not?

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