Groundwork for an Assault on Individually Administered 401k's and IRA's

“The failure of 401k”????

My 401k hasn’t failed me, it’s the f’ing gov’t interference in ALL things that have failed us!!!

I’ll keep my “failed” 401k if they will just leave me alone!!

So the take over begins. Glad I’m no longer in a 401k plan.

An IRA is a private, individual account. The Government has NO business touching it.

Come and get it, I am putting my IRA into bullets...you are welcome to them one at a time, twice if you are nasty about it.

Keep your f-n hands off my 401K, government.

I think this approach is a “winner” for them.

Most people are hideously underfunded, so they might be agreeable to trading what little - if any - they have saved for promises of future gvt support.

Of course that future support will fall on future taxpayers, etc, just like SS. But politicians understand that what most people want is not the truth, but “plausible deniability”.

The government runs the Social Security system which, by various estimates, has unfunded liabilities between $60 and $100 trillion dollars. In the last 16 months it has a higher deficit than it accumulated during its first 210 years of existence. Don't try to tell me that the government can do a better job than I can. All it will do is swipe the current value of 401k and IRA accounts, spend them now and add any promised returns to the unfunded SS liability.

This is a list of the board of directors of this nit wit commie organization. Only people missing are Castro and Chavez:
Barry Bluestone
Northeastern University
Dr. Bluestone is currently the Director for the Center for Urban and Regional Policy at Northeastern University in Boston. He has served as a member of the senior policy staff of Congressman Richard Gephardt. Among his many accomplishments he was the Founding Director of U.Mass.-Boston’s Ph.D. Program in Public Policy. (EPI publications by Barry Bluestone.)

R. Thomas Buffenbarger
International Association of Machinists & Allied Workers (IAMAW)
Mr. Buffenbarger currently serves as the President for the International Association of Machinists. When he was 20 years old he was elected for his first leadership position within IAM as a steward of his apprenticeship group. Ever since then he has worked his way up to the Presidency of the organization, learning from the leaders he closely worked with for many years.

Anna Burger
Service Employees International Union (SEIU) and Change-to-Win
Anna Burger is both a top ranking officer at SEIU, the nation’s largest and fastest growing union, and chair of the Change-to-Win Labor federation.

Larry Cohen
Communications Workers of America (CWA)
Serving as the fourth President in the history of the Communications Workers of America’s union, Mr. Cohen has implemented and spearheaded movements that have lead to help workers gain union representation in various sectors. He has also expanded the union’s membership mobilization program to create a network of union stewards.

Ernesto J. Cortes, Jr.
Industrial Areas Foundation
As a member for the National Executive Team of The Industrial Areas Foundations Mr. Cortéz has been the recipient of the 4th Annual Heinz Award for his work in Public Policy to make government more responsive by increasing citizen participation in the political process at the community level. His early commitment to community organizing led him to work with Cesar Chavez and the farm worker’s movement among others.

Jeff Faux
Senior Fellow, Economic Policy Institute
Mr. Faux is currently a Distinguished Fellow at the Economic Policy Institute. As the founder of EPI in 1986, Mr. Faux has been credited with making EPI the country’s leading think-tank on the political and economic issues facing American workers. He has also worked as an economist for the Departments of State and Labor and Commerce. (EPI publications by Jeff Faux.)

Leo W. Gerard
United Steelworkers of America (USWA)
Mr. Gerard is the President for the United Steelworkers of America. In his first full term he increased membership by sixty percent. The union has strengthened workers’ bargaining leverage by forging strategic alliances with unions worldwide.

Ron Gettelfinger
United Auto Workers (UAW)
Serving as President for the United Autoworker’s Union since 2002, Mr. Gettelfinger has advocated for accessible and affordable healthcare for all Americans. He has also led the fight to renew America’s industrial base through incentives to manufacture energy-saving advanced technology vehicles and their key components in the US.

Teresa Ghilarducci
The New School for Social Research
Professor Teresa Ghilarducci is the Bernard and Irene Schwartz Chair of Economic Policy Analysis at the New School for Social Research. Her 2008 book, When I’m Sixty Four: The Plot against Pensions and the Plan to Save Them (Princeton University Press) investigates the effect of pension losses on older Americans and how to stop them. Ghilarducci’s current 2 year project, “Beyond the 401(k): Guaranteeing Retirement Security,” is funded by the Rockefeller Foundation. She is a trustee for two Retiree Health Care Trusts: one for the UAW retirees at GM, Ford, and Chrysler and the other for Steelworker retirees at Goodyear. In 2007, Ghilarducci served on Governor Schwarzenegger’s Public Employee Post Employment Benefits. Ghialrducci was appointed by Indiana’s Governor to serve as a trustee for the Public Employee Retirement Fund in Indiana 1997–2002 and President Clinton appointed her twice to served on the PBGC’s Advisory Board, 1996- 2001. She was the Wurf fellow at the Labor and Worklife Program at Harvard Law School from 2007–2009. She received her Ph.D. in Economics at the University of California at Berkeley. (EPI publications by Teresa Ghilarducci.)

Alexis Herman
New Ventures
Alexis Herman was the first African American to become the secretary of labor, serving during President Bill Clinton’s second term. In 1989, Herman joined the Democratic National Committee as chief of staff and by 1992 was the CEO of the Democratic National Convention. After Clinton’s election in 1992, Herman was appointed assistant to the president and director of the White House Public Liaison Office in 1993.

Robert Johnson
Robert Johnson serves on the Boards of the Democracy Alliance, The Institute for Americas Future, and the Brennan Center for Justice. He was formerly a partner in Impact Artist Management and President of Bottled MaJic Music, a recording label and music publishing enterprise. Dr. Johnson served as a managing director of Soros Fund Management; he’s also worked as Chief Economist for the Senate Banking and Budget Committees.

Robert Kuttner
The American Prospect
Mr. Kuttner is the co-founder and co-editor of The American Prospect and regularly writes on political and economic issues. He is also a co-founder of the Economic Policy Institute. In 1996 he was the winner of the Paul Hoffman Award for Human Development of the United Nations, for his work on the relationship of economic efficiency to social equality. (EPI publications by Robert Kuttner.)

Donna R. Lenhoff
National Employment Lawyers Assoc.
Donna R. Lenhoff, Esq. is the first full-time Legislative & Public Policy Director of the National Employment Lawyers Association (NELA) in Washington, D.C. She represents NELA before Congress and administrative agencies to advance NELA’s Working for Change agenda. Prior to joining NELA in 2006, Ms. Lenhoff was the Executive Director of the National Citizens’ Coalition for Nursing Home Reform.

Julianne Malveaux
Bennett College
Dr. Malveaux is serving as the 15th President of Bennett College. She has worked as an economist, author, and commentator and is now the founder of Last Word Productions. She is an outspoken activist for issues surrounding race, culture, gender, and their economic impacts.

Ray Marshall
University of Texas, Austin
Dr. Marshall has served in two Presidential administrations. First for President Carter as U.S. Secretary of Labor and for President Clinton as a member of the National Skills Standard Board and the Advisory Commission on Labor Development. He has taught at the LBJ School of Public affairs and served as President for the International Labor Rights Fund. (EPI publications by Ray Marshall.)

Gerald W. McEntee
American Federation of State, County, and Municipal Employees (AFSCME)
Mr. McEntee is the President for the American Federation of State, County and Municipal Employees (AFSCME). He is one of the co-founders for the Economic Policy Institute and served on the Presidential Advisory Commission on Quality and Consumer Protection in the Health Care Industry during the Clinton presidency.

Lawrence Mishel
President, Economic Policy Institute
Dr. Mishel is the current President of the Economic Policy Institute. He has contributed to building EPI’s research capabilities and reputation. He is often called upon by members of Congress to provide briefings and testimony on economic issues.(EPI publications by Lawrence Mishel.)

Debra Ness
National Partnership for Women and Families
Debra L. Ness is the President of the National Partnership for Women & Families. Before assuming her current role, she served as Executive Vice President for 13 years. Ness has played a leading role in positioning the organization as a powerful and effective advocate for today’s women and families.

Pedro Noguera
New York University
Pedro Noguera, PhD, is a professor in the Steinhardt School of Culture, Education, and Human Development at New York University. He is also the Executive Director of the Metropolitan Center for Urban Education and the co-Director of the Institute for the study of Globalization and Education in Metropolitan Settings (IGEMS). (EPI publications by Pedro Noguera.)

Jules O. Pagano
American Income Life
Dr. Pagano is the Vice President and Executive Director on the Labor Advisory Board of the American Income Life Insurance company. He has also served on the Commission of Professors of Adult Education.

Manuel Pastor
University of Southern California
Manuel Pastor is currently a Professor of Geography and American Studies & Ethnicity at the University of Southern California, where he directs the Program for Environmental and Regional Equity (PERE). He served as a member of the Commission on Regions appointed by California’s Speaker of the State Assembly, and in January 2002 was awarded a Civic Entrepreneur of the Year award from the California Center for Regional Leadership.(EPI publications by Manuel Pastor.)

Bernard Rapoport
Bernard & Audre Rapoport Foundation
Mr. Rapoport is the Founder and Former President, Chairman and CEO of American Income Life Insurance Company. He along with his wife also established The Bernard and Audre Rapoport Foundation in which they make annual contributions for education, health care, and the community of Waco, TX.

Bruce S. Raynor
Workers United
Mr. Raynor is President of Workers United. Prior to this post, he served as General President of UNITE HERE. He is known for working on numerous southern organizing drives, including the successful J.P. Stevens organizing campaign in the late 1970s and for combining aggressive rank and file organizing and alliances with civil rights and community leaders to build worker power.

Robert B. Reich
University of California, Berkeley
Dr. Reich is co-founding editor of the magazine The American Prospect. He served as the 22nd U.S. Secretary of Labor where he implemented the Family and Medical Leave Act, led a national fight against sweatshops in the U.S. and illegal child labor worldwide. Under his leadership the Department of Labor won more than 30 awards for innovation. (EPI publications by Robert Reich.)

Rep. Linda T. Sánchez
U.S. House of Representatives
Rep. Linda Sánchez, a Democrat, has represented California’s 39th Congressional District in the U.S. House of Representatives since 2003. She earned her undergraduate degree at the University of California, Berkeley and in 1995, her Juris Doctor degree at the University of California, Los Angeles. She was an attorney specializing in labor law prior to her public service career.

Andrew L. Stern
Service Employees International Union (SEIU)
Mr. Stern was elected President of the Service Employees International Union (SEIU) in 1996 after being a member and working his way up since 1973. He has been an aggressive advocate for practical solutions to achieve economic opportunity and justice for workers. He also fights to make globalization benefit not only big corporations but working people as well.

Richard L. Trumka
AFL-CIO
Mr. Trumka was elected President of the AFL-CIO in September 2009. He had served as the AFL’s Secretary-Treasurer since 1995. In 1982, he was elected President of the United Mine Workers.

Randi Weingarten
American Federation of Teachers
Randi Weingarten is president of the 1.4-million-member American Federation of Teachers, AFL-CIO, which represents teachers; paraprofessionals and school-related personnel; higher education faculty and staff; nurses and other healthcare professionals; local, state and federal employees; and early childhood educators. She was elected in July 2008, following 11 years of service as an AFT vice president.

Raul Yzaguirre
Arizona State University
Raul Yzaguirre is presidential professor of practice in community development and civil rights at Arizona State University. Yzaguirre is one of the most widely recognized national leaders in the Hispanic community, having served as long-time president and chief executive officer of the National Council of La Raza (NCLR).

Maybe it’s finally time to be armed.

“Stealing your retirement to buy votes!”

This will apply to IRA’s as well, so don’t kid yourself!

The campaign to fight this must start NOW!
Don’t take any comfort in a Republican win next week, because they will be motivated to find revenue wherever they can.

“An IRA is a private, individual account. The Government has NO business touching it.”

Admittedly, it’s a stretch. But that’s what crises are for.

I imagine their claim will be: “It’s not a regular account. It’s for retirement only. You entered into it voluntarily, and benefitted from the tax breaks.”

Plus, they won’t “seize” the money outright. They’ll just
impose confiscatory taxes for personal withdrawal.

Heck, even if they only get a 10% slice of everyone’s 401k in new taxes, that’s nothing to sneeze at.

Everyone knows SS is screwed, and the moeny has to come from somewhere.

Welcome to “somewhere”.

They are looking to take YOUR retirement money
and give it over to union thugs for THEIR retirement.

Thank you for the list. A proverbial who’s who from the Socialist Hall of Shame.

The marxists in Washington HATE the thought that you just might have worked honestly and saved some money for retirement so that you wouldn’t be dependent. They are licking their communist chops as they figure out ways to grab your savings and give them to indolent slobs who vote democrat.

They are looking to take YOUR retirement money and give it over to union thugs for THEIR retirement.

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The foreign occupier is a menace to our nation and damn near everyone living here.

Power has been abused and exploited by Democrats. Forget the polls, forget the media spin. Go to the ballot box and put an end to the Dem Party on November 2, 2010.

The Rats are shovel-ready for the dust bin of history.

Yup so I’m hoping forewarned is forearmed and people pay attention to this issue because clearly they are making plans.

Wouldn't it be great if a hundred or so Freepers RSVP'd to this event, showed up, and told these thieves just exactly what we think of their little plan.

It would probably be over the top to show up with tar, feathers, and rails though. Just saying...

L

Dr. Teresa Ghilarducci

Yep. She's the one. Levin interviewed her a while back and tore her a new one. Not surprised to see she's still at it.

L

and people laughed at the notion when it was suggested a year ago