Targeting Your 401(k)

The Wall Street Journal ^ | 11/14/08 | editorial

[shortstop]

You may have heard about Argentina's plan to nationalize private retirement accounts. Some Democrats on Capitol Hill are inspired, and with their big election victory they may get the chance to test Peronist ideas in America.

Meet Congressmen George Miller and Jim McDermott, who are eager to change the way Americans save for their golden years. They'll also be powerbrokers in the next Congress. Mr. Miller, who came in with the Class of 1974 from California, chairs the House Education and Labor Committee. Mr. McDermott, who has represented Seattle the past two decades, runs a House Ways and Means subcommittee on income security and family support.

[Red Badger]

Targeting is such an apropos word..................

[AU72]

When this swindle picks up steam a 2000 DJIA will be considered high.

[Puppage]

You may have heard about Argentina's plan to nationalize private retirement accounts. Some Democrats on Capitol Hill are inspired, and with their big election victory they may get the chance to test Peronist ideas in America

Yeah, because they LOVED the idea of voluntary privatization of Social Security.

[Niuhuru]

” test Peronist ideas in America”

With Michelle as our very own Evita.

[mlocher]

Peronist ideas

I think these are Marxist ideas.

[DonaldC]

Once, there was a time where 401Ks did not exist and we survived, and when they exist no more, we will survive then also. Same goes for social security.

[joe fonebone]

How can the government confiscate my money like that? If they want to elimanate them and tax the amount as income that is one thing, but to outright sieze it? I guess I do not understand this whole proposal.

[dashing doofus]

The proposal amounts to a 5% personal income tax increase. They want another 5% of your paycheck, on top of the social security taxes. They promise to invest it for we, the sheeplings.

This is disturbing. The intent is to take us to socialism, bit by bit by bit.

[ChicagahAl]

“I think these are Marxist ideas.”

Peron was actually a Fascist. Different kind of evil.

[IbJensen]

When this nation is completely tanked, then we can flush the political class down the toilet and start over again!

[griswold3]

Once all your needs are met by the Fed Govt, why would private property be necessary?

[FreeReign]

When this swindle picks up steam a 2000 DJIA will be considered high.

They'll blame it on Bush.

[mlocher]

Peron was actually a Fascist. Different kind of evil.

I understand.

[FreeReign]

Once, there was a time where 401Ks did not exist and we survived, and when they exist no more, we will survive then also.

The ultimate strawman fallacy, "we will survive".

Unbelievable.

[ChicagahAl]

“The intent is to take us to socialism, bit by bit by bit.”

The Democrats methodology of turning the US into a socialist, third world nation, via “incremental change” (aka bit by bit by bit) has been in effect for decades. Now that the Rats smell victory, the increments (or the bits) seem to be getting larger.

[ChicagahAl]

“How can the government confiscate my money like that?... I guess I do not understand this whole proposal.”

I would suggest reading the Communist Manifesto and probably Mein Kampf as well. At least read the Cliff’s Notes versions. It’s all spelled out in there.

[rellimpank]

—bflr—

[abb]

How? Why, with the stroke of a pen.

FDR did as much in 1933 with gold.
http://en.wikipedia.org/wiki/Executive_Order_6102

[gieriscm]

The WSJ is a few weeks late in its reporting. This story came out before the election.

http://www.freerepublic.com/focus/f-bloggers/2116900/posts