The State of The Union Address (2055 EST)

More lies and more enormous government programs that will drive the cost of living to go up.

reply to post by Realtruth


Raiding retirement accounts is the next step. Social Security has already been looted. There are billions of dollars in 401ks and such that is just sitting there. Of course they are going to seize your retirement fund.

You would think otherwise?

But wait, isn't THAT tied up in the stock market, earning dividends?

They will force everyone to pay for their own health care once every business gets rid of employer benefits.Target just announced they will drop part time emploree benefits.

reply to post by beezzer


Only new Federal Contract workers.
All Union Workers, there is a difference, will benefit from a minimun wage increase.

It is non-negotiable, and written in their contracts, and directly linked to an increase in federal minimum wage.

This has been being pushed, from behind the scenes, by the SEIU, for a reason. They were the shadow behind the Walmart strikes, even though Walmart is non-union. This movement failed, which is why Obama is now writing the executive order.

This way, Unions evade Collective Bargaining and strikes, and can save that for other fights.

The other benefit to the Union employees is, it lessens job competition, meaning, Unions will become much more strict on who they hire, and will be less likely to hire non-experienced employees, or those with lesser job qualifications, and train them. The risk of loss is too high in losing a position and having the expendatures of re-hiring for a failed hire. So, they will be much more strict about new hires, therefore, hugely reducing the open jobs market. This pleases Union Employees.

The Labor Department's collective-bargaining agreements file
has a limited number of contracts available, so we were unable to determine how widespread the practice is. But the United Food and Commercial Workers International Union says that pegging its wages to the federal minimum is commonplace. On its website, the UFCW notes that "oftentimes, union contracts are
triggered to implement wage hikes in the case of minimum wage increases." Such increases, the UFCW says, are "one of the many
advantages of being a union member."

Other union contracts stipulate that, following a minimum-wage increase, the union and the employer reopen wage talks. The
negotiations could pressure employers and unions to hammer out a new contract regardless of how long their existing
contracts last. Presumably the reopened negotiations could also prompt an employer's demand for union givebacks, but that
possibility does not seem to scare the unions.

m.us.wsj.com...

Druid42

But wait, isn't THAT tied up in the stock market, earning dividends?

Of course it is.

(RealTruth spins around and a puff of smoke rise from all sides) and magically turns into beezzer.

Smoke in mirrors.

beezzer
he scariest part of the speech (for me) was the My-RA.

Government is going to take my 401k.

I'm not liking this.

This alerted me also.

Thorneblood
reply to post by lostbook

 

Careful with that logic, you will upset all the 'true americans' and 'patriots'.

I just hate to kick a guy when he's down.

beezzer
reply to post by Realtruth

 

This is why I'll yank all my cash out of my 401k!

You can't. I tried. They changed the rules on it a couple of years ago. All you can do is roll it over to a Roth, and then you can buy gold, but now all gold transactions over 600.00 are tracked.

I tried to cash mine in last year. All I was allowed to do was take a loan on the vested amount only, that I pay back in quarterly installments, with interest. Of course, I am paying myself the interest, so I was okay with that.

But, no, you can no longer cash in 401's. Call tomorrow and see.

I remain stunned that there was no mention of the budget deficit, of tightening our belts, and reducing spending so we can get our economy back on track. All the proposals were "working with members on Congress", as if this was his first term. He's had the time to "work", and all we get in return is a hint from the Federal Reserve that they are going to ease back on QE by 10 billion dollars. So the Fed is going to print 10 billion less. That's a mere drop in the bucket.

There was nothing to address rampant spending, in fact, I heard hints at spending more. Of course, this administration IMHO, is not in touch with reality.

Then again, it may be me. Perhaps the economy is going fine, and unemployment is really at 2%. Perhaps our deficit is 25% of GDP. Perhaps everyone can afford Obamacare, and there are jobs galore.

Then again, pigs may fly.

beezzer

lostbook

Mamatus
Anyone that does not clearly see that Obama has been blocked by the Republicans on nearly everything he tried to get through is not looking.

The Republicans have even blocked Obama on things they wanted but could not get under Bush! I don't like many of the things Obama has done or wants. It does not however change the facts. No President has ever been cock blocked to the extent this one has. Most of us know why......

I will be watching tonights speech for the first time in a couple of years.

Funny how no one else seems to realize this and I don't understand why when I thought ATS was full of positive thinking people. Obama can't get anything done because he is stopped at every turn. Now if he does nothing then he gets dismissed as a lazy, stupid, do-nnothing president. If he takes action as he has done then he gets labled as stubborn headed and difficult to work with. He's in a no-win situation and gets blasted whichever way he moves.

"Those" people who are blocking him also represent Americans.

Don't they count?

Of course they count but they also represent the "people" who gave themselves bonuses when the economy was in shambles, the same people who take bribes from corporate interests even when the end result will be bad for America or the environment as a whole, the same people who were willing to let the economy fail in an effort to win a political battle. Not all politicians are bad, of course.

reply to post by Libertygal


I rolled over an old 401k and am doing 6% with a matching 6 from my employer.

I'm 100% invested in the bond market right now.

But basically, I'm screwed.

reply to post by Druid42


I agree, but to hear Obama tell the story, he has cut the deficit in half, and spending is not a problem. It is an imaginary story Republicans made up to stir up trouble and try to make him look bad, and to stop him from accomplishing his goals.

This is one of his excuses for turning to Executive Orders for an answer, because silly Republicans keep saying no to his ideas, which all include huge spending increases.

So, not really surprised at all. What he *should* be doing is not what is happening in this crazy, upside down country right now.

reply to post by Druid42


Not all are tied up, no. Mine is not. When I set mine up, I was given 3 options, high risk, medium risk, or low risk. I chose low risk, which means most of mine is not in stocks, but rather bonds and CD's. I chose that way because of market trends at the time.

I am glad I took that route, too, because I lost much less, even though my growth is slower, than those that lost huge amounts when the markets dropped.

I don't fear anything except a Depression-style market crash, and only that because I will likely just lose the entire account to bank closures and government seizures, especially since I cannot panic withdraw like happened in the past.

BTW, why is Boehner darker than Obama? I think the racists/birthers have targeted the wrong man.

reply to post by Libertygal


Obama's story does not match the real numbers. I was ??? while listening to him. There was nothing solid, save if you think empty promises are solid.

Sad, but true.

beezzer
reply to post by Libertygal

 

I rolled over an old 401k and am doing 6% with a matching 6 from my employer.

I'm 100% invested in the bond market right now.

But basically, I'm screwed.

I am doing the same thing, so I feel ya. The only saving grace I have is that I made that withdrawal already. I *could* default on the loan if the government seizes it, but they would probably send the IRS after me, or take it out of my paycheck.

So, I feel ya.

Libertygal

beezzer
reply to post by Realtruth

 

This is why I'll yank all my cash out of my 401k!

You can't. I tried. They changed the rules on it a couple of years ago. All you can do is roll it over to a Roth, and then you can buy gold, but now all gold transactions over 600.00 are tracked.

I tried to cash mine in last year. All I was allowed to do was take a loan on the vested amount only, that I pay back in quarterly installments, with interest. Of course, I am paying myself the interest, so I was okay with that.

But, no, you can no longer cash in 401's. Call tomorrow and see.

You can't but the government can if they want it (as in Cyprus style haircut.)

Usually there is a clause allowing you to pull funds for financial hardship (pending foreclosure) or medical reasons. I would not pay their mortgage until it was going to foreclosure pull all the 401k funds, then bring the loan current and use the rest to buy physical gold.

Bassago

Libertygal

beezzer
reply to post by Realtruth

 

This is why I'll yank all my cash out of my 401k!

You can't. I tried. They changed the rules on it a couple of years ago. All you can do is roll it over to a Roth, and then you can buy gold, but now all gold transactions over 600.00 are tracked.

I tried to cash mine in last year. All I was allowed to do was take a loan on the vested amount only, that I pay back in quarterly installments, with interest. Of course, I am paying myself the interest, so I was okay with that.

But, no, you can no longer cash in 401's. Call tomorrow and see.

You can't but the government can if they want it (as in Cyprus style haircut.)

Yep, that's what we were talking about on the previous page, but, what they are more interested in doing, and even have plans for, is total seizure, setting up retirement accounts for everyone under 55 with a 500.00 deposit, taxing your income to deposit the account, and doing away with Social Security. But, you will still have to pay into S.S. until all or most beneficiaries die. This account will also replace Medicare. I forgot that part.

I linked several articles on the previous page. I would the post, but can't figure out how on my phone. A college girl, iirc, actually proposed this in a secret meeting to Dems in 2010, if I am recalling the dates correctly. Since then, they have run with, and developed the idea. It looks more and more like it could happen every day.

Back in 2010, the estimated funds were over 3 billion. You think they can keep their hands out of that for long, the way the markets have been at record highs, for long? They may he estimating now, 4-5 billion.

Usually there is a clause allowing you to pull funds for financial hardship (pending foreclosure) or medical reasons. I would not pay their mortgage until it was going to foreclosure pull all the 401k funds, then bring the loan current and use the rest to buy physical gold.

Well, back when the markets crashed in the 90's,a lot of people panic withdrew. I was told the IRS were the ones who changed the rules. I thought the same, I needed the money for medical bills, or I had to file bankruptcy. This was last year. All I was allowed to do was take a loan on the vested amount only.

It may vary plan to plan, state to state, but I was told it was a Federal IRS rule.

I took my loan in June 2013.

ETA- Ah, I found it.
It was 2008 when the original proposal was made.

www.rushlimbaugh.com...

RUSH: By the way, TIME Magazine is
not the only one floating this idea for
the regime to claim your 401(k). And
coming up in a moment, we'll go back
and play the sound bites from October
27, 2008, Teresa Ghilarducci at the
New Skrool for Social Research,
professor of economics. It was her
idea to basically take away your 401(k)
and compensate you for it in a kind of
screwy way 'cause the government
needs the money. It was a mistake to
allow people to contribute to an IRA
and deduct that from their gross
taxable income.

Looks like she changed it a bit:

Under Ghilarducci's plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S.government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government
bonds that would pay 3 percent a year, adjusted for inflation.

m.us.wsj.com...

reply to post by XXX777

XXX777

NewAgeMan
In case it hasn't been posted yet..

www.youtube.com...

This video looks like animatronic. Is everybody wearing make-up?! Are these people beaming in from some other location?

It might as well have been from Mars, but at least that's closer than Alpha Centauri.

They live in a bubble beyond the beltway, out of touch with the pulse of the people and what they're really wanting, which is something more than jobs, but real fundamental systemic change and a transformation of the system itself, including all manner of corruption and crony capitalism and dark shadowy interests which do not hold the people's mutual best interest at heart.

Not sure if this has made its way around yet, but here's my favorite photo of the speech