RE: HOBBY LOBBY - 401(k) plans are directed and invested by employees, not by employers

There’s been an absurd story from Mother Jones making the rounds this week.  Authored by Molly Redden (who has never signed the front of a paycheck, but does “spend too much time cooking and watching television,” according to her bio) and echoed here on Forbes.com by Rick Ungar, the argument is that Hobby Lobby can’t have religious convictions and a regular 401(k) plan for their employees at the same time.

Hobby Lobby (which is a closely held corporation with a few family owners) is suing the Obama Administration over Obamacare’s requirement that Hobby Lobby pay directly for drugs which can and do lead to early pregnancy abortions.  Being a material and proximate cooperator in such an action violates the business owners’ deeply-held religious views protected by the First Amendment to the Constitution.

Apparently, this also means that Hobby Lobby can’t have a 401(k) plan for their employees.  Why?  Well, according to Redden and Ungar, the Hobby Lobby owners are religious kook hypocrites.  The company 401(k) plan has investments which themselves invest in companies that make the abortion drugs.

This is a ridiculous argument for several reasons, all of which would be obvious to Redden and Ungar if they had ever run a business in their lives:

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Be careful how much you save

"Independence" is no longer allowed by the United States government:

The Administration's political motive here is two-fold: First, it's a redistributionist play and a revenue grab. But for many on the left it's also about reducing the ability of individuals to make themselves independent of the state.

Now He's After Your 401(k)

If an asset is not FULLY liquid and available to you, then it isn't really yours at all

On 401ks

Posted by Ann Barnhardt - August 3, AD 2012 7:26 PM MST

 

401k plan of attack: 
 
1. STOP MAKING CONTRIBUTIONS if you haven't already.

2. Liquidate it. Pay the "penalty". Would you rather pay a penalty or have it all stolen? Or possibly replaced with a "government savings account" comprised of Treasury paper which will probably default or be confiscated long before you are ever allowed to "tap it", and will NOT be able to be passed to your heirs should you croak, but will instead be resorbed back into the collective? Oh, and don't bother whining to me about the "tax consequences". Paying income taxes to this satanic baby-killing Christ-hating government is now, absolutely MORTAL SIN. Why, why, why would you pay taxes?

3. If you can't liquidate it, take out a loan on the balance. Take out the maximum possible loan, and then set up the repayment schedule on the longest possible term.

Now, let's talk about all of you out there who are not permitted by your employer to liquidate your 401k. That decision rests with the PLAN ADMINISTRATOR, who is your employer, be it an individual or a board.

What kind soulless, psychopathic monster would refuse to let their own employees have access to their own money? What POSSIBLE reason could there be for a business owner or a board to refuse to fill out a few forms, sign at a few documents and just let people have their own money?

If your employer will not let you out of your 401k, you need to sit down and think long and hard about who you are working for, and why you are working for them, because they are, by definition, bad people.
Finally, what lesson can we learn from this? How about this: If you don't have access to something, if you cannot take physical possession of it, if all you have is someone telling you that they are taking care of your money, which you cannot touch or have access to - THEN IT ISN'T YOUR MONEY, AND IT NEVER WAS. In short, you have been conned.

If your employer won't let you liquidate your 401k, that means that your employer has CONNED YOU by telling you that they were paying you a wage of X, when in reality it was less than X by the amount of your 401k contribution amount. Go sit down and figure it out. Back out your 401K contributions off the top of your pay as if they never existed. THAT is your actual wage, if your employer refuses to let you out. Would you have ever agreed to work for that wage?

For those of you who come out on the other side of this collapse and war, you must always remember that if an asset is not FULLY liquid and available to you, then it isn't really yours at all, and you have to assume that all such arrangements are nefarious and must be rejected.

The Sick Truth About 401(k)'s Finally Sinks In

Posted by Ann Barnhardt - December 12, AD 2011 4:22 PM MST

Possession is nine-tenths of the law.

Judging from my email inbox, many of you are realizing EXACTLY what that old adage means right about now. Many of you have requested to liquidate your 401k accounts, and your employers won’t let you do it. I had no problem doing it because I am self-employed and thus I was my own “plan administrator”.

So, this nasty business brings us around to a very nasty, but inevitable question. Was that money ever yours, or has the entire 401k fiasco been nothing more than an underhanded, stealth confiscatory tax for the vast majority of folks who have participated in it over the years? I’d have to say, “affirmative” to the latter. If you are denied access to “your money”, then honey, it ain’t “your money” and never was. Many of you have been conned into working for a salary that was x percent less than what you were told, with “x” being the percent “contributed” to “your” 401k account. That "x percent" should be added to your marginal tax rate, because it is probably going to end up in the coffers of the United States Treasury by way of J.P. Morgan, Goldman Sachs, or HSBC, or one of the other big crypto-fascist banks, by way of London, just like the MF Global money.

If you're wondering to yourself who EXACTLY is going to "bail out Europe", or at least make a pathetic attempt at the mathematically impossible so that your friendly neighborhood American oligarchs have enough time to get themselves pre-positioned for the collapse, YOU ARE, MY LITTLE CHICKADEES.

If you are one of the many, many people, or as TPTB call you, "bourgeois, bitterly clinging trash", stuck in this con, the only things you can do are:

A.) CEASE ALL NEW CONTRIBUTIONS IMMEDIATELY.

B.) If there is a loan option attached to your 401k program, take out the maximum possible loan and set up the SLOWEST possible repayment schedule.

C.) Never again enter into an arrangement wherein “your money” is unavailable to you and is anything less than completely liquid.

Possession truly is nine-tenths of the law, and under a lawless Marxist-Communist-Fascist government where the rule of law no longer exists (such as we are in now), possession is closer to ten-tenths of the law.

Obama Administration making plans to take over nation’s 401(k)s to bail out their union backers and their bankrupted pension plans.

House Republican Leader John Boehner (R-OH) and members of the House GOP Savings Solutions Group sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and should reject proposals that would dismantle or nationalize the private 401(k) system in favor of a government-run retirement security regime. Several Administration officials, including the Vice President, have voiced support for efforts to create so-called “Guaranteed Retirement Accounts” or impose new government mandates which would undermine 401(k) retirement savings plans and jeopardize employers’ willingness to continue offering them to their workers.

Read the whole thing

Is Obama Going To Nationalize 401k Plans?

I've started developing an Obamanation hair-trigger response system and my red alerts buttons started flashing when I saw this at Politico today:

Obama: Plan for upping savings rate

It didn't take but a minute to find this:

Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration

And this:

This proposal is in the 2010 Budget and may be a start of a Government take over of the American 401k and Retirement Account system. Obama is giving retirement, IRA, and 401k savers something to monitor closely. . .As you can see. Your 401k plan offers you a drastically higher return than Obama would give you at 3%. The nationalization of the nations retirement system could cost you a pretty penny.

It's not JUST Obama that's the problem. It's the whole machine behind him funded by George Soros. They've hijacked the old Democratic Party and, believe me, they will not stop until every last thing you own (including your children) belong to them. Get them all out now if you want any kind of freedom and automony in your lives.