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New Lame Duck Threat to Bailout Union Pensions
Human Events ^ | 08 October 2010 | Connie Hair

Posted on 10/10/2010 7:49:36 PM PDT by Lorianne

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.

(You can find the blistering interview with Guilarducci by radio talk show host Mark Levin in 2007 at the link).

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.

(Excerpt) Read more at humanevents.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Government
KEYWORDS: 401k; bailout; guilarducci; lameduck; pensions; senate; theresa; unions
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They are not going to give up ... EVER from taking your money.
1 posted on 10/10/2010 7:49:40 PM PDT by Lorianne
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To: Lorianne

This will never happen. People would take up arms.


2 posted on 10/10/2010 7:55:03 PM PDT by PackerBoy (Just my opinion ....)
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To: PackerBoy

dream on


3 posted on 10/10/2010 7:55:53 PM PDT by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: PackerBoy

Yeah right... people didn’t do anything when Obamacare passed.


4 posted on 10/10/2010 7:56:16 PM PDT by Minus_The_Bear
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To: Lorianne

As I have posted numerous occasions Democrats are criminals. They think like criminals, they act like criminals, they are the majority of the individuals that are indicted on criminal charges in our government, and the results of their crimes against the American people are always theft be it of our money, our freedom, our future, or our rights.

Nail ‘em this November. Clean house of all Dems, and RINO’s up for election, and then do it again each of the next election cycles until they are all OUT.

Kick their collective butts.


5 posted on 10/10/2010 8:03:06 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: Lorianne

Connie Hair AKA Clinton’s A Liar (CAL) is a former Freeper from way back before I came here in...whenever I came here.


6 posted on 10/10/2010 8:03:38 PM PDT by lewislynn ( It's not going to be who wins a seat, rather it will be who loses a seat that will save America)
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To: Lorianne

Three responses to the proposal, with later ones to be applied only if the earlier listed ones fail:

1. Filibuster in the Senate

2. Lawsuits under the takings clause and the 4th Amendment

3. Armed rebellion


7 posted on 10/10/2010 8:04:59 PM PDT by The_Reader_David (And when they behead your own people in the wars which are to come, then you will know. . .)
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To: Lorianne
"Sen. Bernie Sanders (I-Vt.) was the only other senator at the hearing with Harkin."

Harkin isn't up for reelection again until 2014, and Sander's 2012 -- but he's from the Bolshevik state of Vermont. The remaining 98 US Senators probably don't have much of a death wish.

8 posted on 10/10/2010 8:08:24 PM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: PackerBoy
This will never happen. People would take up arms.

Dream on. The sheeple in this nation will bitch one day & worry about their six pack.

9 posted on 10/10/2010 8:10:28 PM PDT by Digger (If RINO is your selection, then failure is your election)
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To: Lorianne
This is why it is so important to win the special senate elections this year. There are four seats that are having special elections to replace appointed senators who are filling vacancies that occurred over the last couple of years. What’s important is that the senators elected in these special elections will take office immediately after their elections are certified by their state’s Secretary of State. A net gain of these seats will help Republicans shut down a lame duck session.

All the special senate elections are to replace DemocRAT incumbents. Any Republican wins would be Republican pickups. The seats are DE (Biden's old seat), IL (Obama's old seat), NY (Hillary Clinton's old seat), and WV Byrd's old seat.

10 posted on 10/10/2010 8:13:49 PM PDT by Paleo Conservative
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To: mamelukesabre
dream on

So I guess you'll fire the first shot, no?

11 posted on 10/10/2010 8:14:11 PM PDT by Las Vegas Ron (Moderates manipulate, extremest use violence, but the goal is the same.)
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To: Lorianne

The Democrats are crazier than I ever thought. As if ObamaCare weren’t bad enough, this proposal will get their necks stretched - by other Democrats.


12 posted on 10/10/2010 8:15:05 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: Digger
Dream on. The sheeple in this nation will bitch one day & worry about their six pack.

But you'll be out there leading the charge.....right??

Are you one of the sheeple or the six packer?

13 posted on 10/10/2010 8:16:14 PM PDT by Las Vegas Ron (Moderates manipulate, extremest use violence, but the goal is the same.)
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To: PackerBoy
This will never happen. People would take up arms.

They'll offer a carrot to make it palatable - adding 25% to your "new" retirement account balance to make up for your "losses caused by greedy corporate speculators in 2008". People will jump at that offer without much criticism of the strings attached.

14 posted on 10/10/2010 8:21:17 PM PDT by Mr. Jeeves ( "The right to offend is far more important than any right not to be offended." - Rowan Atkinson)
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To: PackerBoy

Yeah, right.

And people still send their kids to government indoctrination camps where the “children” are taught to HATE their freedom and heritage, robbing them of the same, and call it education.

ugh uh, right.


15 posted on 10/10/2010 8:25:11 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: Lorianne

I forgot CO (Salazar’s old seat), so there are 5 opportunities to pick up seats to rein in a lame duck session.


16 posted on 10/10/2010 8:26:47 PM PDT by Paleo Conservative
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To: Lorianne

I doubt this scheme could make it through the Senate. The GOP would filibuster it.


17 posted on 10/10/2010 8:27:44 PM PDT by freespirited (This tagline dedicated to the memory of John Armor, a/k/a Congressman Billybob.)
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To: Paleo Conservative
This is why it is so important to win the special senate elections this year.

Yes, yes yes!! You can sign up to phone bank for Christine O'Donnell by clicking below. This is winnable. That is why "The ComMunity Organizer" AND THE "Gaff Master" are both headed to DE this week. STOP THIS!

Christine2010


18 posted on 10/10/2010 8:30:52 PM PDT by outofstyle (Anti-socialist)
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To: Lorianne

OMG-—— that poor looking woman they had testify about all her heart string pulling problems about nothing to leave to her children, just wanting a respectible old age life, not being a burden on her children etc. was a planted UNION SEIU member. Good Grief these people are shameless.


19 posted on 10/10/2010 8:31:27 PM PDT by therut
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To: Digger

As long as there are sports on the tube and beer flowing, most people won’t care for a while.


20 posted on 10/10/2010 8:32:30 PM PDT by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
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