Posted on 12/14/2010 5:26:27 AM PST by IbJensen
Unionized labor is looting from us. Plans to take over our 401K- private retirement funds. Communists did the same in Argentina, sized private pension funds.
http://gatewaypundit.firstthings.com/2010/05/obama-administration-m...
http://www.commieblaster.com/index.html
http://www.commieblaster.com/economy/index.html
The Obama Administration is making plans to take over the nations 401(k)s in order to bail out their union backers and their bankrupted pension plans.
Connie Hair at Human Events reported:
In February, the White House released its Annual Report on the Middle Class containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through retirement security options.
The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies. Vice President Joe Biden floated the idea, called Guaranteed Retirement Accounts (GRAs), in the February Middle Class report.
In conjunction with the reports release, the Obama administration jointly issued through the Departments of Labor and Treasury a Request for Information regarding the annuitization of 401(k) plans through Lifetime Income Options in the form of a notice to the public of proposed issuance of rules and regulations. (pdf)
Republican Leader John Boehner released this statement today in response to this recent move by democrats:
Keep Bureaucrats Hands off Americans 401(k)s
House Republican Leader John Boehner (R-OH) and members of the House GOP Savings Solutions Group sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and should reject proposals that would dismantle or nationalize the private 401(k) system in favor of a government-run retirement security regime. Several Administration officials, including the Vice President, have voiced support for efforts to create so-called Guaranteed Retirement Accounts or impose new government mandates which would undermine 401(k) retirement savings plans and jeopardize employers willingness to continue offering them to their workers. Boehner issued the following statement:
The American people are asking where are the jobs? They arent asking for job-killing policies that jeopardize their retirement savings. Unfortunately, Washington Democrats are pursuing policies that make it more difficult to offer 401(k) savings plans to their workers, and some are even advocating replacing them with government-run accounts and ending 401(k)s altogether. Thats unacceptable and not the solution Americans need at a time when they are still rebuilding their retirement, college, and personal savings.
Republicans are committed to offering better solutions, and the proposal we have offered the Savings Recovery Act will help restore Americans savings and ensure that Washington does not stand in the way of families ability to save more. Its time for Democrats to stop advocating policies that will destroy Americans savings and work with Republicans on better solutions to help rebuild them.
Several GOP House members signed on to a letter delivered to labor Secretary Hilda L. Solis and Treasury Secretary Timothy Geithner expressing their concerns today.
Unionized labor is looting and extorting the money from taxpayer's.
We must watch now for new bail-outs to unionized labor or dictatorship = communism.
USA, Liberty from unionized labor and unionized, monopolized dictatorship.
Defend our Constitution. Defend Capitalism and terminate unionized labor from government.
See the Truth face of Unions.
Labor is always associated with communism and less education.
Unionized labor is the same like monopoly power, taking maximum profits at other peoples expense , prosperity, liberty and life.
Unions must be terminated from government. They are not legal. They should exist only in private industry to protect only basic rights of workers.
General Motor was destroyed by Union's inability to compete with other competitors.
In addition to it, communist Obama bailed General Motors at taxpayer's expense.
With the utter mess that presently occupies the Congress and the White Hut anything is possible! They don’t read these damned things anyway!
The one I read was that the gubmint would guarantee you the value of your 401K pre the 2008 crash if you turned your account over to them. That might have worked when the Dow was down around 7-8,000, but since it has recovered much of its pre-crash value, that idea is not going to fly now.
Unfortunately, these kinds of reports are causing people to cash out of their 401K’s and pay the penalty which is a shame.
This is NOT going to happen.
So true. Who was the quote from?
They’ve gone too damned far already. War should have began.
They attribute it to a Czech Republic leader, but I think the source is still up in the air. It really doesn't matter who first said it. It's the truth. "Fake but accurate" doesn't apply, as it is not something that is stated as proof of anything.
Saw two crates of those (one empty by the time I got there) at a recent show. $99 for the weapon (with bayonet) and $99 for 440 rds of 7.62X54.
MrB, as we are living under a federal government which, by admission of some of our representatives (like Pete Stark) believe it can do anything then we are in the same position the founders found themselves under the king only now we have many kings in the ruling class completely ignoring the constitution.
If this government takes money I saved for retirement what else do I or any of us have to lose? At retirement our life span is limited anyway.
At some point we have to grow a backbone and try to emulate the brave men and women who participated in the founding of this country and plant our feet firmly in front of fedzilla and say NO MORE, YOU HAVE GONE TOO FAR.
If we do not then I will be like our First Lady (????) and I will be ashamed of the USA.
The GOP is only progressive lite at this point in time and unless the Tea Party can pull off a huge victory in 2012 I see no future for the country we THOUGHT we were living in.
This daily barrage of encroachment of fedzilla into every aspect of our lives is like Chinese water torture.
It seems to be there is nothing the feds can do which will make us draw the last line in the sand. For me at least, stealing my 401K to give to union scum is that final act.
Oh, come now.
Deep in the recesses of your heart you know this evil regime is capable of anything. Of course none of what Obozo has done is legal, but then neither is the deliberate destruction of a nation which this Man Without a Country despises!
Keep whistling past the cemetery.
I can’t see this happening anytime soon, but remember that the Democrats never totally drop a plan to take over an aspect of the economy and/or people’s lives. “Eternal vigilance” is a good recommendation.
Red actually a progressive is worse than a commie as at least the commie was honest enough to admit he was a communist. Progressives are communists who know they have lie and hide to accomplish their overthrow of the USA.
I did like your point system by the way.
Russkies would be turning their graves if they knew their rifles would be used to protect democracy in the event of communist takeover..
His election demonstrated to the world that Americans are not prejudiced against the election of a negro to the presidency.
(Now if it had been Walter Williams, a Clarence Thomas, Thomas Sowell, etc. there would be NO problems in America.)
But then what can we expect when a rat is pulled out of the filthy sewers of Chicago, cleaned up and promoted from sewer rat to senator and then president.
He still has to shine Soros’ shoes.
Wanna turn a Tea Party into a Lynch Mob? This would do it.
The only thing I look to the Communist Central Government for at this very moment is suicide.
take your money out and buy Non-tracable assets...
Really?
With a Communist Central Government like the one that is killing the nation ANYTHING IS POSSIBLE!
“Wanna turn a Tea Party into a Lynch Mob?”
That’s PRECISELY what the Rinocrat Oligarchy would like to see happen...
Agreed.
in order to insure progressives are routed from our society, this would have to happen. this is about the only thing, short of death camps, that will wake people up
has anything new popped up on this issue since the election?
Let’s give the readership here some examples of non-traceable assets. And don’t list baseball cards.
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