Posted on 10/23/2008 6:52:48 AM PDT by indianyogi
McCain -- go after them the Democrates.
The Democrats want to end the private retirement system that has allowed Americans to become a vast investor class and put them back in thrall of the federal government. This is nothing more than a second welfare system that would sit on top of the crumbling Social Security entitlement. It would leave the American working and middle classes with no retirement option other than a government handout. If the Democrats control both Congress and the White House, kiss your 401(k)s goodbye, and get into the bread lines first before the crowd arrives. (via Q&O)
Sounds like the end of capitalism. A plan like that would have a huge effect on the investment markets and the investment brokers. It would deprive the country of capital. It would also give the Democrats more of your paycheck to give to their supporters, if you take away the pre-tax contributions.
It is just another big pool of money they want to grab. They must be stopped.
This is what McCain should feature in his campaign, but he will not.
Unfortunately, a fact that is lost on too many Americans.
“Privatized”...and all “invested” in government bonds. Yeah right!
This issue can win the damn election for us, IF McCain and Palin are smart enough to run with it.
This is going on in Argentina. The Peronists have destroyed the wealth of the country since WW2. The President Mrs. Kirschner wants to nationalize everyone pension or retirement plan.
The thing Joe Biden was warning us that we may think is unpopular in the first 6 months...remember he said tested and threat and they would do something unpopular but you got to hang with us. My guess is Obama will grab 401Ks and IRAs. Obama thinks he will be able to do anything. If he wins he will be able to do it. Who will stop them? Pelosi?
FROM MY COLD DEAD HANDS!!!!
What the hell are these idiots thinking? And why isn’t this making BIG headlines???
A majority of people will NOT support this idea, even if their 401k’s have tanked recently.
Let this be known...and Democrats will fall like dominoes.
The President that keeps spending and taxes in check is the one who will oversee a better economy absent wars, massive acts of terrorism or exploding bubbles.
The problem is who makes the fiscal decisions for the U.S. not who is president. The answer is congress, which is usually the OPPOSITE of the president in power.
Rather bold assumption, don't you think, given that there may be super majorities in both houses?
Savings of the type you envisage may indeed be an option...for the short term, anyway. Should this segment of the economy grow to any size, however, just how long do you think it will be before Congress casts yet another covetous eye towards this new potential money source?
Optimism has to be tempered by realism, especially in these parlous times.
CA....
Argentina's Property Grab: A cautionary tale for anyone who owns a retirement account.
REVIEW & OUTLOOK OCTOBER 23, 2008
"Argentine President Cristina Kirchner announced this week that her government intends to nationalize the country's private pension system. If [the Argentinian] Congress approves this property grab, $30 billion in individually held retirement accounts -- think 401(k)s -- managed by private pension funds will become government property."
I didn’t see your mention of Argentina b4 I posted in 34 a link....scary, huh?
If that happens here, there will be a NEW CIVIL WAR, and it will be worse that the old one...............
The government wants to steal your money!!!!1. That’s what this amounts to. Oh, they’ll give you an IOU.
Is this not telling as to the true Democrat mentality? ‘It’s not the people’s money, their savings, it’s OUR money.’
Come on, Johnny Mac. This is a great issue to run against Obama and the Dems with. As if a President Obama would veto any such legislation.
Man, this highlights the risks involved with the Dems in the majority in both Congressional houses and in control of the White House.
Meanwhile, some stupid taxpayers back the douche who will bring us crap like this.
Argentina is seriously disfunctional and corrupt. It has been that way since Peron in the 1940s. Obama will make America even worse.
I’m sorry, Red. I will have to disagree on the civil war thing.
It just won’t happen.
The US Army in 1861 was about as well armed as the citizenry of the time. Some local municipalities owned artillery for crying out loud!
We know how that turned out, and the US Army of today would make Waco look like a backyard bbq if it came down to it.
You think our soldiers wouldn’t fire on US? Some would refuse. Maybe most would. But if it comes down to chaos and their country crumbling, I suspect the Army will accept orders initially...on the premise that they’re only trying to restore order.
Once the rebellion is crushed (permanently)...it won’t matter where the individual soldiers stand, they will have inadvertantly ushered in the new order.
Can you say dow jones 3000 and a real depression in the USA. Nancy Pelosi and Harry Reid need to be inpeached and Obama not elected.
We the members of the GOP need to take it to the Streets to end this madness.
The Rat’s are truly trying to destroy capitalism.
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