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Sweet! They found more wealth to spread.

Discussion in 'Politics Forum' started by dogmush, Nov 8, 2008.

  1. dogmush

    dogmush New Member Established Member

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    (It's your 401k)

    http://www.carolinajournal.com/articles/display_story.html?id=5081

    It's a long read, but here's some fun quotes:

    Note use of the word 'confiscate'

    OOH OOH 3 whole percent!! Yea- oh wait not forever. But the .gov will give me a whole $600!!! Well that should be enough to retire on.

    There it is. There's that phrase again.:banana:

    Oh please, please massers I'm too stupid to save, can you do it for me? After all the gov would never run up a big defic--- wait a minute here.

    Well lets see, maybe they don't get tax deductions because they DON'T PAY FRAKING TAXES!!!! Maybe that's why.

    Does anyone know where I can buy some Krugerands? and an airtight container to bury them in?
     
  2. ampstang

    ampstang Nobody F's w/ a Lion Established Member

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    What's next? Are they going to go into our personal savings accounts and spread that around too? Maybe my grandparents had a good idea when they hid they're fortune underground.
     
  3. dogmush

    dogmush New Member Established Member

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    That's called an Income Tax. Comrade.
     
  4. ON D BIT

    ON D BIT Finish First Established Member

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    whats the best way to start an offshore account?
     
  5. ampstang

    ampstang Nobody F's w/ a Lion Established Member

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    "Some types of income, such as interest on bank savings, may be considered as personal earnings (similar to wages) or as a realized property gain (similar to selling shares)."

    I'm not talking about interest, I'm talking about actual money I have put into my savings rather than in a coffee can. If people lose money when they transfer their money to a savings account, nobody would ever put their money in a savings account.

    Read up on how banks work.
     
    Last edited: Nov 8, 2008
  6. dogmush

    dogmush New Member Established Member

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    Yes, and where do you get the money that goes into a savings account? Paycheck perchance? And what happens to that money prior to it going into a savings account? Taxed isin't it.

    Haven't you noticed that bit on your 1040 asking how much intrest your savings account has made this year? They're asking because they tax that interest. Right now they tax it as income, but with a stroke of the [red] pen it could be 'capitol gains'. We all know how that gets taxed.

    So they're going into your personal saving both before you actuallly get it into an account, AND on any growth that it has while it's there.

    There's another article on this proposal that has a gov flunky talking about the $80 million the gov has 'invested' in 401k's. Somehow, not taking my money has become 'investing' the gov's money. I'll see if can dig tht article up too.
     
  7. dogmush

    dogmush New Member Established Member

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    Here we go:

    http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081007/REG/810079894

    Hmmm. Seems I was off an order of magnitude, make that billion.

    How again is the act of not taking money I earned = to congress investing.
     
  8. Luckyeod28

    Luckyeod28 major league infidel Established Member

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    Yeah, gonna be a great 4 years.
     
  9. ampstang

    ampstang Nobody F's w/ a Lion Established Member

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    You missed the whole point. I didn't intend on making this a totally new discussion. Basically, if I took out all the money in my savings and put it in a box, the government can't touch it. If I went and deposited that beginning sum back into savings the government can't take that money away. They can only take money from the interest. So, I'm still making money from the bank "borrowing" my money. The effect of the tax on the interest is more like having a lower total interest rate. I was talking about the government taking money away from the deposited cash amount before interest even plays a role.
     
  10. ampstang

    ampstang Nobody F's w/ a Lion Established Member

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    Well, hopefully the teacher's retirement system is still in place when it comes to me retiring. Not actually sure what type of system that runs under.
     

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