This was on Alex Jones website so I am not going to say this is imminent or plausible but what do you feel will happen here in the US if this happens?

Got 401s?   Union pension plans in America are falling apart. Congress has a plan to fix that.   >Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.   
Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci.
In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.The plan has been in the works for a while.   >In February, the White House released its "Annual Report on the Middle Class" containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through "retirement security" options.   
The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement -- which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies.
Vice President Joe Biden floated the idea, called "Guaranteed Retirement Accounts" (GRAs), in the February "Middle Class" report.You have to love the names they give these abominations. More correctly it would be called Guaranteed Retirement Accounts for Unions. If you are an ordinary citizen all Guarantees are off.   
Here is a report from 2008 on the topic which names some more names.   >GRAs would guarantee a fixed 3 percent annual rate of return, although later in her article Ghilarducci explained that participants would not "earn a 3% real return in perpetuity." In place of tax breaks workers now receive for contributions and thus a lower tax rate, workers would receive $600 annually from the government, inflation-adjusted. For low-income workers whose annual contributions are less than $600, the government would deposit whatever amount it would take to equal the minimum $600 for all participants.   
In a radio interview with Kirby Wilbur in Seattle on Oct. 27, 2008, Ghilarducci explained that her proposal doesn't eliminate the tax breaks, rather, "I'm just rearranging the tax breaks that are available now for 401(k)s and spreading -- spreading the wealth."What she means by "spreading the wealth" is straight up theft by the government.   
Well 2008 was a good year for warnings about this stuff. Joe "The Plumber" Wurzelbacher tried to warn the 53% among us who were about to do something foolish.   >Wurzelbacher said he planned to become the owner of a small plumbing business that will take in more than the $250,000 amount at which Obama plans to begin raising tax rates.   
"Your new tax plan is going to tax me more, isn't it?" the blue-collar worker asked.
After Obama responded that it would, Wurzelbacher continued: "I've worked hard . . . I work 10 to 12 hours a day and I'm buying this company and I'm going to continue working that way. I'm getting taxed more and more while fulfilling the American Dream."
"It's not that I want to punish your success," Obama told him. "I want to make sure that everybody who is behind you, that they've got a chance for success, too.
Then, Obama explained his trickle-up theory of economics.
"My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. I think when you spread the wealth around, it's good for everybody."  Well that is history now. You know what this administration is up to. No excuses this time. The only recourse short of appeal to the Gods of War is to vote the Democrats out. Every single last one of them. No exceptions.

http://www.classicalvalues.com/archives/2010/10/got_401s.html

I honestly believe there is no way that this WON'T happen, unless we get the real conservatives into office.

A lot of folks think I am paranoid because this has been a fear of mine for a while.  There is no way you can just make money and be left alone, and there is no way you can just keep it without fighting for it.

Quote from: taxed on October 19, 2010, 08:27:26 PM
I honestly believe there is no way that this WON'T happen, unless we get the real conservatives into office.

A lot of folks think I am paranoid because this has been a fear of mine for a while.  There is no way you can just make money and be left alone, and there is no way you can just keep it without fighting for it.

I fear if this happens we will see near riots.  This outright theft of our hard earned dollars to prop up union retirements could be the push over a cliff.  If there was some way to pull out my 401 I would do it but as long as I am employed by the company that is matching my retirement I am not allowed to.

Quote from: Seawolf on October 19, 2010, 08:32:36 PM
I fear if this happens we will see near riots.  This outright theft of our hard earned dollars to prop up union retirements could be the push over a cliff.  If there was some way to pull out my 401 I would do it but as long as I am employed by the company that is matching my retirement I am not allowed to.

I feel like we are so conditioned now to let them take our stuff.  For instance, go up to someone and tell them you want to eliminate the IRS.  They get very uncomfortable.  It really is weird.

Quote from: taxed on October 19, 2010, 08:38:11 PM
I feel like we are so conditioned now to let them take our stuff.  For instance, go up to someone and tell them you want to eliminate the IRS.  They get very uncomfortable.  It really is weird.

Not to the point that they outright take your retirement from you.  I don't care how hardcore left you are, that is seen by you as solely your money.  The government already takes from you fora defunct SS program.  No, I fear that could be the straw that breaks the camels back.

Quote from: Seawolf on October 19, 2010, 08:53:39 PM
Not to the point that they outright take your retirement from you.  I don't care how hardcore left you are, that is seen by you as solely your money.  The government already takes from you fora defunct SS program.  No, I fear that could be the straw that breaks the camels back.

You may be more optimistic than I, but I can't fathom them not taking our money and property.  I honestly think it is borderline crazy that someone wouldn't think they are going to go after our stuff. That is how certain and obvious it is to me that this will happen.

All we can do is vote and hope they go to DC and hold ground.

What most people do not understand is your 401K is not your money when you retire.  Not until your company and then the govermnet releases it to you. That can take up to 2 or 3 months or longer if they wish.  It took me 2.5 months to roll it over into something other then a 401K.

Quote from: taxed on October 19, 2010, 08:59:43 PM
You may be more optimistic than I, but I can't fathom them not taking our money and property.  I honestly think it is borderline crazy that someone wouldn't think they are going to go after our stuff. That is how certain and obvious it is to me that this will happen.

All we can do is vote and hope they go to DC and hold ground.

After what I saw in regards to the protests over the health care bill, this will make that protest seem small by comparison.  There is no way people are just going to roll over and allow the feds to take away the money you earned and saved. 

Quote from: walkstall on October 19, 2010, 09:04:59 PM
What most people do not understand is your 401K is not your money when you retire.  Not until your company and then the govermnet releases it to you. That can take up to 2 or 3 months or longer if they wish.  It took me 2.5 months to roll it over into something other then a 401K.

It is your money that is matched, not by the feds, but by a private buisness.  The feds have no right to it under our Constitution.

Quote from: Seawolf on October 19, 2010, 09:13:11 PM
After what I saw in regards to the protests over the health care bill, this will make that protest seem small by comparison.  There is no way people are just going to roll over and allow the feds to take away the money you earned and saved.

For it NOT to happen, our hopes are pinned on 1) getting the true conservatives back into office, and 2) they start making true, deep cuts to our spending.  To do that, they will have to go against the unions, and all the wonderful folks who run the world behind the scenes.  When these scary people threaten the lives and family members of the new conservatives, we need to them to stay their ground.

I know that sounds crazy, but I don't believe for one second that the new conservatives about to be in office will not have drugs planted on them, brake lines cut, etc etc.  The intimidation onto these people will be pretty intense.

Quote from: Seawolf on October 19, 2010, 09:14:11 PM
It is your money that is matched, not by the feds, but by a private buisness.  The feds have no right to it under our Constitution.

Good luck if you thing you can retire and get your money in a day or two, or even a week or two just ask a financial experts.

That is not my question.  What will happen if the government steps in and seizes your entire 401 you spent your life working for?

Quote from: Seawolf on October 20, 2010, 04:01:52 AM
That is not my question.  What will happen if the government steps in and seizes your entire 401 you spent your life working for?

The same thing that has happen with SS.  It will be there money to do as they wish.  When you retire it will not be there and it will be your bank account next.

I don't think people are just going to sit on their hands while the government walks in ans seizes their accounts they spent their life building.  I can't imagine someone with a 300k or more 401 are going to say "Hey, what can you do" and go about life as if nothing happened.  What will rub us all the wrong way is the Feds will get to keep their retirement accounts.  This will be the governments grab of our wealth unlike anything we have ever witnessed in our history.