There'll be a few of these flying around as well.
Posted on 10/11/2010 3:20:57 PM PDT by bronkburnett
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 ...
If you are an American who has worked hard and saved and believed in the system, you are about to lose everything. So now is the perfect time to join the revolution to save America now.
As said by Bob Dylan:
“When you got nothing, then you got nothing to lose.”
And hard working Americans are about to lose everything.
The liberal tyrants are about to take all of it. They stole our individual savings in Social Security for their political programs. They stole our personal savings with inflation by printing an excessive amount of money. They stole freedom of religion. They stole the right to bear arms by taxing weapons and ammunition excessively. They stole the culture with the use of “political correctness.” They stole our children with constant brainwashing on television, in the movies, and in their classrooms. They are taxing away the estates that we plan to leave to our children. They are handing our country to illegal immigrants. They killed the Constitution with rulings by activist judges. They killed independence in favor of a new world order. And now they are using the tyranny of the majority to implement full fledged socialism with more government and more taxes.
Hard working Americans are about to have nothing.
“When you got nothing, then you got nothing to lose.”
So now is the time to say:
governments are instituted among men, deriving their just powers from the consent of the governed; that whenever any form of government becomes destructive of these ends, it is the right of the people to alter or to abolish it, and to institute new government,
It is time to join the revolution to Save America Now!
http://www.amazon.com/gp/product/1616235756
This will never happen!
They did it in Argentina.
Yes, they won't be seizing 401k's here anytime soon, but this union pension bailout piece is definitely something they are trying to do.
If the social welfare state indeed begins to implode, there is really no telling what the government will try to do.
They may want to do this, but even the Democrats are not this stupid. It is not going to happen.
I believe those are the Republicans........
There'll be a few of these flying around as well.
Ask yourself: what limit would a 4 year old place on himself given that he had unlimited power and resources and no chance of punishment and - voila - you have all of the restraint and wisdom of Government.
I’ve always been suspicious of 401k plans because the Government will eventually take them. Could be 20-30 years from now, but eventually they will look at all of that money and they will confiscate it. Roth IRAs, too.
It’s just a matter of time.
I would only trust a Constitutional Amendment that is very specifically worded and relates directly to IRAs. But that won’t happen.
“Bailout” is a noun.
I mean the same Republican squids.....
They touch the 401Ks or IRAs and the shooting starts.
Ya think? The dem's seem to believe they can deem anything passed these days..
You won't feel it as they inflate your dollars to no value because; the thugs party will not tap your retirement funds directly, merely devalue them so severely to give funds fromt he general fund to the union thuggery. But you will be paying for it, one way or the other, you just won't know it directly.
And still no one is building the needed guillotines
Screw that! Up their dues...to 40% of take-home.
Suppose a guy is a farmer and never sets up a 401K, IRA etc. but keeps buying land with his extra funds,,are these tali-ban wannabes going to take part of his land to satisfy their scheme?? hmmmmm
The left will do whatever it has to do to prop up the social welfare state. The only question is how wedded are the American people to it. Evidence seems to indicate we are getting close and closer to a majority in this country that have become dependent on handouts in some way.
I would not put it past the government to seize land, but we are probably a long way from such a thing. The lefitists will look for pots of money they can raid first.
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