Posted on 10/28/2008 8:35:25 PM PDT by gopsue
Washington—With a show of absolute power, Senator Harry Reid, D-NV, John Edwards, Rep. Nancy Pelosi, D-CA, and Senator Barack Obama, D-IL, have joined forces to form R.E.P.O., inc. (Reid, Edwards, Pelosi, Obama).
The show of solidarity was made to usher in the two significant events in American history - the election of Senator Barack Obama as President of the United States, and the repossession of Americans’ 401K plans, backing it with a guaranteed retirement account with government bonds.
R.E.P.O. is designed to protect America’s interest from the failures of the free market and capitalism, giving citizens hope for brighter days in their golden years. According to reports from Capitol Hill, the plan works this way as a repurchase agreement for a financial institution.
The federal government will repossess your 401K, give you a three percent return through government bonds, and then if you live long enough to collect it, administer it back to you—via the Social Security Administration—at a much lower rate because of the astoundingly high taxes.
On Friday, October 31, 2008, R.E.P.O. will have a press conference on the steps of Capitol Hill, discussing the size and scope of the plan. According to Rep. Pelosi, the size of the plan is what is most important, noting that “we don’t want Americans to feel cheated.”
(Excerpt) Read more at electivedecisions.wordpress.com ...
Since there is so much talk of this already, the fact that the Dems are running their mouths and the fact we seem to be in some kind of bizarro, twilight zone political world I'm sure you can understand why I must now retire. The spike in my blood pressure was just too much, lol.
This is not satire. I heard it today on the radio by an obama advisor.
Do you believe everything you hear on the radio?
“This is not satire. I heard it today on the radio by an obama advisor”
Well, isn’t that special....R.E.P.O (Reid, Edwards, Pelosi and Obama). They are planning for and counting their chickens before they hatch. Can’t you just imagine the anticipation right now as they think they are about to rob the piggy bank with complete control of the U.S. It will be a rude awakening when they get their RIP on Nov. 5th. Isn’t it great when the Dems show their true colors as it gets closer to what they think they have won. Let’s Roll!
An Economics person was on rusty humpries last night discussing this. She thinks a program like this is a good idea.
This particular piece may be satire, but they are talking about something like this.
Duplicate Alert!
No. But then I never thought I'd see the day when this country would even consider electing a marxist for President.
I guess if I heard on the radio 20 years ago that it would happen in '08, I wouldn't have believed it either.
As someone posted earlier “The Axis of Taxes”
But, even as brazen as the Dems are, I can't believe that they would seize existing 401K $$. They may want to, but I don't see that happening. The existing accounts would become investment accounts with no tax benefit. Now, could the balances in those funds suddenly become taxable? Beats me.
The immediate gain would be the loss of the tax deferral status of the accounts and a forced contribution by every employee in the country to a government agency to shore it up.
It would also complete the demise of the economy. Most 401Ks are invested in mutual funds..i.e. the stock market.
But, even as brazen as the Dems are, I can't believe that they would seize existing 401K $$. They may want to, but I don't see that happening. The existing accounts would become investment accounts with no tax benefit. Now, could the balances in those funds suddenly become taxable? Beats me.
The immediate gain would be the loss of the tax deferral status of the accounts and a forced contribution by every employee in the country to a government agency to shore it up.
It would also complete the demise of the economy. Most 401Ks are invested in mutual funds..i.e. the stock market.
Sorry for the echo!! :)
R.E.P.O. The Axis of taxes.
I do wish the republican party who has caused the economic colapse in 2008, would come up with a plan to pay back people for the money lost in their 401K plans, because the republicans were the people advocating 40lk plans instead of social security, I suppose after the failure of their trickle down mentality policy that does not work, that has been proved, a failure of the banks Mutual Funds companies holding these 401K plans, I hope they see the error of their ways, and realize that a 401K plan is not a retirement plan, but a gambling plan, and the American people do need a plan, that will guarantee the money put away for retirement is secure and that at least the principal does not get taken away by corrupt Corporation heads and corrupt republicans, like McCain, GW Bush and Cheney and rest of the the so called family values member, like Larry Craig. Remember McCain was a member of the Keating five, savings and loan scandal, where people again lost their savings, not so long ago. McCain should be in jail along with rest of these crooks instead of running for President.
What the heck is THAT? Lemme guess - yet another hypnotized Hussein Obomber voter...
It was definitely a leftist. I like to post them. No reason to try to refute these people. They won’t listen.
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