Bend Over Business Owners!!!

The Board of Trustees for Social Security (which includes the US Treasury Secretary) wrote that major parts of the program have already run out of money, and the rest of Social Security will run out of money in the next decade.

Amazing. Even Social Security knows that they’re bankrupt and unable to keep their promises to taxpayers.

This is going to cause an unbelievable crisis in the United States.

Think about it: half of Americans have ZERO retirement savings and will be fully dependent on the Social Security once they retire.

But by the time their retirement comes, the program will have likely already run out of money.

Well, the government has figured out a solution. And it’s genius.

Two weeks ago a new bill was introduced on the floor of Congress that, just like all the other really dangerous legislation, i.e. USA PATRIOT Act, this bill has a catchy acronym.

It’s called the SAVE UP Accounts Act, which stands for. . .

. . . “Secure, Accessible, Valuable, Efficient Universal Pension Accounts Act”.

I just tasted vomit in my mouth.

In short, SAVE UP mandates certain employers and businesses in the United States, including many small businesses, to start contributing a fixed amount of money per employee into a brand new national retirement fund.

Based on the contribution requirements and the average wage in the United States (about $50,000 annually), the bill is slapping a 2% wage tax on employers.

Funny thing, employers are already paying 6.2% to Social Security.

http://www.zerohedge.com/news/2016-07-26/new-legislation-proposes-bail-social-security

Shinnnnnnnnnnnnnnnntooooooooooooooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The last words you ever want to hear

Hi, I'm from the government and here to take care of you.

Anybody think prices are going up if this bullshit passes? arty:

Sounds like a cleaver way to reword a payroll tax increase. :rolleyes

There's 3 ways to make it in this world.

#1 Be a trust fund baby.

#2 Learn a talent/ skill that offers value to the market place.

#3 Join government and steal everyone else's money to pay your salary.


CA has far too much of number #3 going on. More government = more stealing from the tax payer to support itself. Government is no different from the mob. Just pay them and they'll leave you alone, but also understand that they will only want more as they grow until there's not enough #1 and #2 to steal from. Throughout history, it never ends until that happens.

Got to pay back all those fuckers who got you elected. Genius way to help your donors and lobbyists. Intentionally manufacture a crisis and squeeze the funds from the employer.

I thought the rumored fix was to remove the $110K income cap so that those making in excess of that amount would still be contributing?

Dont worry.. Hillary will fix it lmao:lmao:lmao:lmao:lmao:lmao:lmao

This will happen to anyone that expects someone else (in this case our Gvmnt) to care about your money as you yourself would.

There is approximately ~19 Trillion dollars in the private sector retirement fund(s). I would predict the Federal Government to Nationalize, (read confiscate) these funds, 401k's, SEP's etc. They can easily justify it to the tolerant masses by explaining that when you retire, we will simply pay it to you monthly.

I can't see the Federal Government turning a blind eye to a cache of funds that large. In twenty years, SS will be gone along with the 19 Trillion in confiscated retirement monies.

nganga said:

There is approximately ~19 Trillion dollars in the private sector retirement fund(s). I would predict the Federal Government to Nationalize, (read confiscate) these funds, 401k's, SEP's etc. They can easily justify it to the tolerant masses by explaining that when you retire, we will simply pay it to you monthly.

I can't see the Federal Government turning a blind eye to a cache of funds that large. In twenty years, SS will be gone along with the 19 Trillion in confiscated retirement monies.

Click to expand...

What do you think that will result in?

Alot of dead politicians.

SBMech said:

What do you think that will result in?

Alot of dead politicians.

Click to expand...

I think it will result in absolutely nothing. If some Americans were to stand fast and push back, they'll be diminished and marginalized as "radicals." They would be compared to Timothy McVeigh. The transformation is nearly complete.

Americans have become extraordinarily compliant.

nganga said:

I think it will result in absolutely nothing. If some Americans were to stand fast and push back, they'll be diminished and marginalized as "radicals." They would be compared to Timothy McVeigh. The transformation is nearly complete.

Americans have become extraordinarily compliant.

Click to expand...

Sheep.
.
And an entitled freeloading society.

nganga said:

There is approximately ~19 Trillion dollars in the private sector retirement fund(s). I would predict the Federal Government to Nationalize, (read confiscate) these funds, 401k's, SEP's etc. They can easily justify it to the tolerant masses by explaining that when you retire, we will simply pay it to you monthly.

I can't see the Federal Government turning a blind eye to a cache of funds that large. In twenty years, SS will be gone along with the 19 Trillion in confiscated retirement monies.

Click to expand...

I wouldn't be surprised at all if they tried that. I don't see how they could constitutionally do so though.

Flying_Lavey said:

I wouldn't be surprised at all if they tried that. I don't see how they could constitutionally do so though.

Click to expand...

Amendment.[emoji1]

Flying_Lavey said:

I wouldn't be surprised at all if they tried that. I don't see how they could constitutionally do so though.

Click to expand...

Congress has the power to tax. They could put such a large tax on retirement savings as to essentially nationalize it.

Anything up to whatever you would qualify for SS would be taxed at the marginal rate. Anything over would be subject to some sort of retirement tax at some stupid rate, say marginal plus 75% or something.

Or, they could means test SS.

Sleek-Jet said:

Congress has the power to tax. They could put such a large tax on retirement savings as to essentially nationalize it.

Anything up to whatever you would qualify for SS would be taxed at the marginal rate. Anything over would be subject to some sort of retirement tax at some stupid rate, say marginal plus 75% or something.

Or, they could means test SS.

Click to expand...

Even the fat, blow-hard Christie wanted to means test SS. There's proof that even the Republicans don't believe the SS fund to be your money.

Since when did the constitution mean fuck all to any of these Nefarious Rapscallions.

You have to remember, this would affect EVERY American, the armed forces, national guard, police, firemen etc.

Who is going to fight the 250 million that stand up?

I hope you are wrong. The alternative is really bad for everyone, including the entire world.

America goes down, the world follows.

SBMech said:

You have to remember, this would affect EVERY American, the armed forces, national guard, police, firemen etc.

Who is going to fight the 250 million that stand up?

I hope you are wrong. The alternative is really bad for everyone, including the entire world.

America goes down, the world follows.

Click to expand...

Ever wonder why the IRS, EPA, etc. have been buying up weapons and ammo like it's going out of style? They know it's eventually coming. :thumbsdown

It's not possible for the .gov to "run out of money" because they can print what they need.

There are obvious ramifications to doing this, like inflation and erosion of confidence.

nganga said:

I think it will result in absolutely nothing. If some Americans were to stand fast and push back, they'll be diminished and marginalized as "radicals." They would be compared to Timothy McVeigh. The transformation is nearly complete.

Americans have become extraordinarily compliant.

Click to expand...

:thumbsup

pronstar said:

It's not possible for the .gov to "run out of money" because they can print what they need.

There are obvious ramifications to doing this, like inflation and erosion of confidence.

Click to expand...

When we fall, who will buy the world's goods? We are Babylon (if you're familiar with the bible).