Posted on 03/25/2010 7:34:29 AM PDT by FReepaholic
Having ruined the pension funds of Americans nationally through corrupt and utterly unsustainable "projections" of future growth labor unions are now targeting your money to make up the difference: One of the nation's largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the United States. In effect, government pensions for everyone, not unlike the European system and regardless of personal choice.
Yes, because labor unions have done such a great job of managing their pension plans, right? Oh wait, they haven't. In fact, virtually none of them are actuarially sound, and they know it. So instead of addressing this (which would mean that workers would have to put up much more of their wages to be funneled into these funds) the SEUI is effectively advocating stealing your 401k - to cover for their outrageously rosy "estimates" on portfolio returns (which in fact have been negative over the last ten years.)
I may have been early in my "What's Broken: All Of It" Ticker about a year ago, but it also looks like I was right.
You forget. They have the power of RETROACTIVE TAXATION. They will come after you for the entire amount..................
Yup, sounds about right. That 90% will go into the union retirement funds to shore them up.
First thing,
1) 401Ks move with you now because you own them. Fixed Pensions dont.
#2) One reason saving rates are low is because everytime Washington (Greenspan, Bernake, Clinton,Bush, Obama) wants to stimulate the economy they create play money and shove interest rates to zero. Economics is simple. When you force prices low (interest rates) you increase demand (borrowing) and decrease savings=shortage of savings (supply). DUHHHH!
Peter Schiff Austrian economics class lesson 101 !
You will be required to pay a RETROACTIVE TAX on that.............
This is the line in the sand that should they cross I rebel. No question about it.
I did all the “right” things with the money all the entitlement crowd left me after stealing money from my paycheck.
I saved and put money in 401Ks. I put up with a government passing ex post facto laws and changing the retirement age for SS which I was FORCED to accept but this I would not accept.
There is nothing I detest more than unions and their fellow travelers, Marxists.
If they lay one finger on my money I promise they will not be able to count to 10 on both hands.
We have reached the point in history that Thomas Jefferson warned us would occur and fortunately he made sure we had a viable solution.
Well you union bastards, bring it on.
Are they any patriots remaining or are they all hiding behind their keyboards?
...and this doesn’t begin to measure the trillions of paper gains, lost when the house of cards called “affordable housing” instigated or monsterized the recent crash of the economy, reducing by 30 to 50 percent, what the good people of the US had in their retirement accounts.
This is the business model of unions.
Unions are a pension managment scam. It is enron for pensions.
I'm not wondering.
Yes, I do. I’m still hoping for someone to have a brilliant idea, though...
Out of my cold, dead hands.
A lot of us patriots are over-seas at the moment. But we’ll be back.
The SEIU goon and communist Andy Stern is Obozo’s biggest advisor.
If they are talking about this, you best be considering how you plan to keep what belongs to you, yours.
Otherwise, you will never see it again.
A living testament to the saying “only the good die young”
There are at least 60 million, and that is way more than enough.
Gosh, that is really harsh. Are you saying you’re also not willing to help pay down someone else’s mortgage?
/s
(Oh, I guess we are...)
I’ve got a small amount of savings (about $3,000) in a backup bank account. Last month a got about thirty cents interest on it. With $100k in there, I could reap over $10 bucks per month. Now that’s real income. not
Then I get my credit card statement and the interest rate is 29%.
“There are at least 60 million, and that is way more than enough....”
Why do you think they intend to open the border?
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