They will pay taxes on the money only when they withdraw it as retirees, when their tax rates are likely to be lower than when they are working full-time.

With the massive debt being accumulated – don’t bet on it.

This scheme amounts to people loaning the government money twice. The first loan is allowing the government to withhold an excessive amount of your money over the course of a year.

I make it a point to decrease withholding where I end up owing enough in taxes to remain just below paying a penalty.

“MY REQUEST

David .A. Garfield.
Chief Campaign Officer,
Barack Obama Campaign Office.
Phone: +4470359 xxxxx. “

Just an FYI, the +44 area code shows UK as being the country the scammer is pretending to be in, but the “703″ is a redirect number that transfers the call to a cell phone in Nigeria. That is because the scammers know if they say they are from Africa or Nigeria, most people will run for the hills. They say they are from the UK instead, they get a few more pockets to steal from.

“– Allowing people to check a box on their federal tax returns asking that any refund be sent as a savings bond. More than 100 million U.S. households receive refund checks each year, and many are promptly cashed and spent. ”

a method of dealing with inflation by putting it off to a later date.

I have wondered about the financing of ongoing efforts by the administration and the reluctance of a fed audit. Consider that the auto dealers waiting for payment ..are still waiting. What does this tell us? The government has no money to work with, and is reluctant to start the printing presses just yet.

The US is BROKE plain and simple, and while we have all been aware of this fact, the press and the leadership has danced around the issue, pretending its an “abstract concept.” There is nothing abstract about the fact that if the government is going to pay its bills this year, or in the future, it MUST create more cash. To do so simply reduces the value of the exisitng supply..

Think “stock split,” but with the newly created shares simply taxed away by the govt. Poor folks will get their share of taxes anyhow.. we all will. 401ks notwithstanding.

This statement seriously makes me wonder if Barry plans on a government take-over of employer-run savings programs. With so many more people involved they’d have even more of our money to flush away or redistribute.

Watch and I’ll bet the part where Lil’ Barry says you can check a box on your return and have the money sent to you in a Savings Bond, is flipped around and that you need to check the box in order to have your refund sent to you as cash. It will probably be hidden somewhere and hard to find as well to ensure the maximum number of Savings Bonds are issued.

I’ll keep on putting my extra cash into gold and silver coins, thank you just the same Lil Barry.

Sorta like they’ve managed to do with Social Security? Wellll, whyn’t ya say so right away? I’m up wi’ dat. NOT!!!!!!

The purpose is for the Moron to be able to declare that he has dramatically increased the ability to save for retirement, when he announces version 17.2.5.6 of his Universal Health Scam next week.

None of the details will make a hill of beans difference to a single person, or to the government.

It’s purely for show.

“The recession has eaten into people’s nest eggs so the government is promoting ways to make it easier to save for retirement.”

So is that the same gov’t that got us into this pickle in the first place and worsened it by de-valuing people’s investments and 401k’s that they had for retirement? Hmmm.

Now .. let’s take another peek at o-blah-blah’s extreme grandiosity as he says, “If you work hard and meet your responsibilities, this country is going to honor our collective responsibility to you: to ensure that you can save and secure your retirement.”.

Whatta statement! So if you foolish low-lifes work hard and “pay all your dues” .. then (and only then) .. this benevolent and just gubamint .. will throw some scraps your way ’till you get your end of life counseling.

Hey!!! O-blah-blah!!! How ’bout you and your cronies staying the hell outta the way!!! That’ll help more than anything!!!

And then we get, “That is why we are announcing several commonsense changes that will help families put away money for the future,” Obama said…

One .. where the hell is o-blah-blah (et al) going to get any COMMON SENSE? These fools’ answer to everything is more and more government! Two .. get the hell outta the way!!! Foks were doing plenty well ’till you and your party got on scene mr o-blah-blah.

This dingy and his crew are so disconnected with reality it’s frightening!!!

It is a really interesting accounting trick. The other interesting thing is that savings bonds redeemed within three months of issue pay no interest so Uncle Sam gets an interest-free loan.

He is desperate indeed if he thinks the Govt is going to raise $1.4T by selling savings bonds to working people. Even the Chinese don’t have that kind of cash. And who wants to own bonds in an era of hyperinflation? Who will invest money at, say, 3% yield, when inflation is lurking around the corner?

That $1.4T deficit, and the interest thereon, is inevitably going to lead us into heavy taxation (a permanent recession and lower standard of living) and/or hyperinflation (God help us all). For most people, personal savings in paper assets will be destroyed under either scenario. The only safe paper assets in inflation might be strong foreign currencies or TIPS. Smarter to spend your cash while it still has any value left.

If the general population of this country are incapable of seeing through this ruse, then I fear all is lost. I mean, what could possibly go wrong? Or as Alfred E. Neuman would say, “What–me worry?”

• Allowing such plans to automatically increase the amount that workers save over time unless the workers object.

—–UNLESS THE WORKERS OBJECT
—–At which time the “workers” will be ridiculed and subjugated to a lesser status and FORCED TO COMPLY

• Allowing people to check a box on their federal tax returns asking that any refund be sent as a savings bond. More than 100 million U.S. households receive refund checks each year, and many are promptly cashed and spent.
—–GIVING THE FALSE IMPRESSION THAT COMPLIANCE IS VOLUNTARY BEFORE THE GOVERNMENT EVENTUALLY MAKES IT MANDATORY THAT YOU HAND YOUR REFUND OVER TO THEM. “CASHED AND SPENT” IS CODE FOR “USING IT AGAINST THE WILL OF THE GOVERNMENT”

• Allowing workers, when leaving a job, to direct unused vacation pay to a retirement savings account rather than taking it in cash. …
—–RATHER THAN TAKING IT IN CASH, WHICH OF COURSE WOULD ALLOW THE INDIVIDUAL SOME SORT OF BENEFIT, RATHER THAN SUPPORTING THE GREAT SOCIAL REGIME

“Just as the administration is dedicated to reviving the economy and getting people back to work, so too it is dedicated to helping put retirement security within the reach of all Americans,” Geithner said in a statement.
—–GETTING PEOPLE BACK TO WORK As in a “comrade worker society”
—–”Retirement Security” is code for “cradle to grave” nanny-state sponsorship.

These people have got to go.