Do you guys have 401k plans? Well... you may not have them much longer.

[Smith]

if that did happen the gov't would recieve a tremendous windfall in tax moneys. Cashing out the 401k results in paying a penalty.

I would have never closed mine out if it was not for reinvesting in my home. The trade off of paying a penalty versus buying a house was worth it to me.

That may be the plan. Instead of slowly leaching off the money, if they are cashed out ..... jackpot! Instant tax bonus!

BTW - the myth that Republicans are fat cat wall streeters is not entirely accurate. I'll have to find my sources again, but the last stats from the last few elections I saw show a pretty large discrepancy in voter income in favor of Dems. Couple that with the low end of their voter base as a factor and it is even higher than the stats show. they also give a significant amount less to charity than Republicans.

[Guest HexHead]

The time is really approaching between stuff like this and prospect of a draconian gun ban to split this country up. It can be done peaceably or violently, I don't really care which. We've really become two Americas with the secular-progressive liberals wanting to turn us into one big socialist San Francisco.

[Guest HexHead]

More info on this, straight from the horse's mouth...

http://www.usnews.com/blogs/capital-commerce/2008/10/29/401k-foe-teresa-ghilarducci-the-most-dangerous-woman-in-america.html

Listen to the radio broadcast.