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 ...
This will never happen. People would take up arms.
dream on
Yeah right... people didn’t do anything when Obamacare passed.
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.
Connie Hair AKA Clinton’s A Liar (CAL) is a former Freeper from way back before I came here in...whenever I came here.
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
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.
Dream on. The sheeple in this nation will bitch one day & worry about their six pack.
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.
So I guess you'll fire the first shot, no?
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.
But you'll be out there leading the charge.....right??
Are you one of the sheeple or the six packer?
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.
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.
I forgot CO (Salazars old seat), so there are 5 opportunities to pick up seats to rein in a lame duck session.
I doubt this scheme could make it through the Senate. The GOP would filibuster it.
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!
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.
As long as there are sports on the tube and beer flowing, most people won’t care for a while.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.