The Socialists will come for your 401K...

12,949 Views | 234 Replies | Last: 23 hrs ago by deddog
LMCane
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:33p, 11/5/26
I have 3.5 years until I can draw from all my corporate savings accounts without penalty.

seriously thinking about cashing out all of them the first day and move all of it overseas.

with socialists taking power and likely winning in 2028 the Presidency,

it's inevitable with a 42 trillion dollar debt that they will go to take over all employee accounts and levy either a tax or some kind of payment to the USG.

anyone with assets over half a million dollars in savings I would suggest you do the same asap
Reply Quote
14
KerrAg76
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:37p, 11/5/26
Without a doubt that is on the table. Along with unrealized capital gains, Trump accts, 529s, etc
Reply Quote
38
UntoldSpirit
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:37p, 11/5/26
AG
What if we move it to a qualified annuity. Do you think that provides any protection from the socialists?
Reply Quote
3
CascadiaAg
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:38p, 11/5/26
They should start with Union pensions as good Democrats. The unions should be willing to volunteer to go first
Reply Quote
68
Featured Video Previews
VaterAg
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to LMCane • 12:38p, 11/5/26
LMCane said:
I have 3.5 years until I can draw from all my corporate savings accounts without penalty.

seriously thinking about cashing out all of them the first day and move all of it overseas.

with socialists taking power and likely winning in 2028 the Presidency,

it's inevitable with a 42 trillion dollar debt that they will go to take over all employee accounts and levy either a tax or some kind of payment to the USG.

anyone with assets over half a million dollars in savings I would suggest you do the same asap


This will be the new "OMG, They are going to jail us for not transing our kids!".

Just note that "cashing it all out" will create a huge taxable event. HTH.
Reply Quote
49
PCC_80
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to UntoldSpirit • 12:39p, 11/5/26
AG
UntoldSpirit said:
What if we move it to a qualified annuity. Do you think that provides any protection from the socialists?

Nope.

They want everyone to be equally poor.
Reply Quote
19
Rapier108
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:40p, 11/5/26
Even Obama knew seizing 401Ks is how one gets the shooting started, which is why he rejected the idea when it was proposed in 2009 by one of his advisory committees.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
Reply Quote
40
ForeverAg
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:40p, 11/5/26
AG
Ok
Reply Quote
2
Sid Farkas
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:40p, 11/5/26
AG
Props 40 and 42 in Calif are currently at about 95% chance of defeating the taxing of net worth and personal property.

A thin ray of hope.
Reply Quote
6
2 edits
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to LMCane • 12:40p, 11/5/26
AG
If they keep tanking the market like they've done today, there won't be anything in our 401ks to confiscate.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
58
schmendeler
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:40p, 11/5/26
AG
Lol go for it
Reply Quote
7
Queso1
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:41p, 11/5/26
AG
Never got around to having one. Nothing is free.
You are a fraud Dr Tarnover. You haven't even been to Scarsdale.
Reply Quote
3
Teslag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Rapier108 • 12:41p, 11/5/26
AG
Rapier108 said:
Even Obama knew seizing 401Ks is how one gets the shooting started, which is why he rejected the idea when it was proposed in 2009 by one of his advisory committees.


2009 obama would be a moderate Democrat now
Reply Quote
66
Teslag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to schmendeler • 12:41p, 11/5/26
AG
schmendeler said:
Lol go for it


Wait you really think it's a good idea?
Reply Quote
5
W
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:42p, 11/5/26
AG
would 401k's be the first target

or inheritance / estate tax?
Reply Quote
7
Rapier108
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to VaterAg • 12:42p, 11/5/26
VaterAg said:
LMCane said:
I have 3.5 years until I can draw from all my corporate savings accounts without penalty.

seriously thinking about cashing out all of them the first day and move all of it overseas.

with socialists taking power and likely winning in 2028 the Presidency,

it's inevitable with a 42 trillion dollar debt that they will go to take over all employee accounts and levy either a tax or some kind of payment to the USG.

anyone with assets over half a million dollars in savings I would suggest you do the same asap


This will be the new "OMG, They are going to jail us for not transing our kids!".

Just note that "cashing it all out" will create a huge taxable event. HTH.

Your side has openly said countless times they supporting charging parents with "child abuse" for refusing to "affirm their child's gender identity".
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
Reply Quote
55
nortex97
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to LMCane • 12:42p, 11/5/26
AG
I think they probably will want to go down the EU route (because of course), and first make savings accounts digital, before 'securitizing' them in the interest of 'the people.'

Reply Quote
22
schmendeler
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Teslag • 12:43p, 11/5/26
AG
Teslag said:
schmendeler said:
Lol go for it


Wait you really think it's a good idea?


Do i think it's a good idea to create a huge taxable event for yourself and wreck a sensible retirement plan because of hysteria around democrats winning the midterms? No. No i don't. But i would find it hilarious if he did.
Reply Quote
22
Teslag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to schmendeler • 12:44p, 11/5/26
AG
Oh got it, I thought you meant taxing 401ks
Reply Quote
5
Barnyard96
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:45p, 11/5/26
AG
I remember a guy who moved it all to cash when Biden was elected.

The market only returned 21% the first year. Good call.
Reply Quote
14
schmendeler
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:45p, 11/5/26
AG
Just to be clear, 401ks WILL be taxed. That's how they are designed. But a putting yourself into a situation where the bulk of it hits the highest marginal rate is pretty stupid.
Reply Quote
16
deddog
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to VaterAg • 12:46p, 11/5/26
AG
VaterAg said:
LMCane said:
I have 3.5 years until I can draw from all my corporate savings accounts without penalty.

seriously thinking about cashing out all of them the first day and move all of it overseas.

with socialists taking power and likely winning in 2028 the Presidency,

it's inevitable with a 42 trillion dollar debt that they will go to take over all employee accounts and levy either a tax or some kind of payment to the USG.

anyone with assets over half a million dollars in savings I would suggest you do the same asap


This will be the new "OMG, They are going to jail us for not transing our kids!".

Just note that "cashing it all out" will create a huge taxable event. HTH.

Obama admin floated the idea of taxing gains for 529s and using it to pay for "free" college.
When you can't tax people enough (and taxing billionaires barely moves the needle), the government can resort to a few measures like forciing at least a part of your retirement accounts to hold government debt. There are 3rd world countries that do it. And we have a lot of 3rd world politicians now.

The chances of the government taking over your 401K is an unlikely event. There will be a lot more bigger isues if that comes to pass
Reply Quote
8
1 edit
PCC_80
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:46p, 11/5/26
AG
Yep, they have been admiring IRA's, Roths and 401K's for a long time and licking their lips.

They will tell you it is "Not Fair" that you were smart, made good decisions and saved and invested some of your earnings while other people did not. Just "Not Fair".

They will then try to take some of it (at first) to help others. Then when they have spent that they will come back for the rest.
Reply Quote
34
Teslag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to schmendeler • 12:46p, 11/5/26
AG
schmendeler said:
Just to be clear, 401ks WILL be taxed. That's how they are designed. But a putting yourself into a situation where the bulk of it hits the highest marginal rate is pretty stupid.


They are of taxed normally but there's a number of people on the left who want a bigger bite of that apple.

You may not like it, but your side has radicals too
Reply Quote
16
FatZilla
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:47p, 11/5/26
AG
Yea.. Thats how the Civil War II starts.
Reply Quote
32
TyHolden
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Teslag • 12:48p, 11/5/26
AG
Teslag said:
Rapier108 said:
Even Obama knew seizing 401Ks is how one gets the shooting started, which is why he rejected the idea when it was proposed in 2009 by one of his advisory committees.


2009 obama would be a moderate Democrat now

Maybe moderate republican


stay low boys. keep those feet moving. go be perfect.

- chavez (fnl)
Reply Quote
7
schmendeler
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:48p, 11/5/26
AG
59% of US adults have a 401k i don't think "going after" them is going to get any real traction behind it. Just more fear mongering.
Reply Quote
15
deddog
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to schmendeler • 12:50p, 11/5/26
AG
schmendeler said:
59% of US adults have a 401k i don't think "going after" them is going to get any real traction behind it. Just more fear mongering.

Correct
They will still absolutely **** you over, but they won't go after it.
It will be more subtle. Like boiling a frog.
Our spending is unsustainable, and the options are to print more money, or tax people more. 401Ks are a very tempting target. So are 529s and Roth IRAs where growth is tax-free.
Reply Quote
7
2 edits
Fenrir
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to schmendeler • 12:50p, 11/5/26
schmendeler said:
59% of US adults have a 401k i don't think "going after" them is going to get any real traction behind it. Just more fear mongering.

You're going to need to pay for your fraud ridden schemes somehow. Not enough regular income to be taxed to support them.
Reply Quote
16
deddog
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Fenrir • 12:52p, 11/5/26
AG
Fenrir said:
schmendeler said:
59% of US adults have a 401k i don't think "going after" them is going to get any real traction behind it. Just more fear mongering.

You're going to need to pay for your fraud ridden schemes somehow. Not enough regular income to be taxed to support them.

We could tax billionaires. That one always makes me cringe.
Reply Quote
2
CascadiaAg
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to VaterAg • 12:52p, 11/5/26
VaterAg said:
LMCane said:
I have 3.5 years until I can draw from all my corporate savings accounts without penalty.

seriously thinking about cashing out all of them the first day and move all of it overseas.

with socialists taking power and likely winning in 2028 the Presidency,

it's inevitable with a 42 trillion dollar debt that they will go to take over all employee accounts and levy either a tax or some kind of payment to the USG.

anyone with assets over half a million dollars in savings I would suggest you do the same asap


This will be the new "OMG, They are going to jail us for not transing our kids!".

Just note that "cashing it all out" will create a huge taxable event. HTH.


It is literally state law here that schools and teachers are to help reaffirm kids as to their transness and are expressly forbidden from letting their parents know what the teachers are doing to the children. This also includes letting the children meet with clinicians to discuss things.
Reply Quote
12
PCC_80
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Teslag • 12:52p, 11/5/26
AG
Teslag said:
Rapier108 said:
Even Obama knew seizing 401Ks is how one gets the shooting started, which is why he rejected the idea when it was proposed in 2009 by one of his advisory committees.

2009 obama would be a moderate Democrat now

The Dems/Libs now probably would not care and might even want this to happen so that they could finally rid themselves of the "Evil Rich".
Reply Quote
3
W
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:54p, 11/5/26
AG
the obvious thing is to speed up the required withdrawals

increase the RMD amounts
Reply Quote
6
El Chupacabra
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Teslag • 12:54p, 11/5/26
Teslag said:
Rapier108 said:
Even Obama knew seizing 401Ks is how one gets the shooting started, which is why he rejected the idea when it was proposed in 2009 by one of his advisory committees.


2009 obama would be a moderate Democrat now

Disagree. Anti gay marriage, pro secure border.

2009 Obama would be at the top of the R ticket.
Reply Quote
6
Fenrir
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to W • 12:55p, 11/5/26
W said:
the obvious thing is to speed up the required withdrawals

increase the RMD amounts

They're already pushing some of that from what I recall including mandatory withdrawals. Right now it's for "high income" individuals, but that will always be subject to change.
Reply Quote
11
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.