"An Investment In The Future Of The Country"
Coming your way:(Future Obama speech?)
"The government has allowed some fortunate individuals to set-aside money in tax exempt accounts....in out times of trouble, it is time for those fortunate few to share their (government allowed) good fortune with a suffering nation. I have instructed members of my economic team to.....
Yup..the pilfering will begin here. Been telling people that this is the next move by gubmints.
“That could never happen here.”
/sarc
SNORT.
Wait for the Krugman bloviation pointing to this as the example the US should follow.
I guess that is what (.)bama was doing during his visit to Ireland, getting ideas he could import back here and recast them as his own.
One thing that has bothered me about his recent shift in rhetoric is his noting that business must begin partnering with government to promote employment, that is, hire people they don’t need as they see no growth in the US. I recall a tax that was enacted in the 30’s which Roosevelt put on businesses with “undistributed profits” which meant they were not distributed to stockholders so they stockholders could pay taxes at the higher surcharge levels in effect on the “fortunate” at that time. It is not a long reach to see him proposing a tax on the cash held by businesses above some preconceived idea of how much money they need to operate. At last estimate there was 2T in cash and securities on the books of US businesses, in the eyes of the socialist (.)bama, a fair tax would be 75% of that cash to go the G to create goverment jobs IMO. Watch for this coming to one of his proposals soon.
There is no consideration given in these socialist “utopias” to tax cuts or less govt spending.
They are doomed.
However once the wall was breeched and politicians learned that they could raid this trust fund with relative impunity by stuffing the box with IOUs, it became a re-election and constituent service dream. After all, the politician only had to worry about his electoral career and the bill wouldn't become due until long after he was gone. They even admitted it while they were doing it, but so long as they kept the goodies flowing, hey who cares.
I remember the 2000 election cycle when Vice President Al Gore stood there with a straight face and absolutely LIED about the safety of the Social Security Trust Fund and it's "Locked Box". It was almost as good as when he was in the Rose Garden defending Bill Clinton's morality.
So the difference between our past and this Irish present does not surprise me. Now, given the proclivities of America's "Native Criminals" (Mark Twain), with our systems in such dire straights, is it inconceivable that their eyes turn to our PRIVATE INVESTMENTs next. Sadly, no, since to so very many of them, including our President, there is no such thing as private wealth nor sanctity of contract nor supremacy of Constitutional Law.
Ireland should have just seized 5 billion from U2 Bono’s accounts. Read where he is transferring his junk to a better tax country. What a fraud.
Never, ever trust your government with your accrued retirement wealth....hard lesson being learned all over the planet. Politicians and bureaucrats cannot be trusted.
US politicians are already trying to figure out how to confiscated your 401(k) dollars...they just can’t figure out how to do it legally because it is still in your name.
At some point, they’re going to come up with some scheme or other by claiming some of that money is owed to taxes...and then there will be a never ending drain on those accounts until they’re depleted, just like every socialist program they have implemented and put in ‘trust’ funds.
“The government has allowed some fortunate individuals to set-aside money in tax exempt accounts....in out times of trouble, it is time for those fortunate few to share their (government allowed) good fortune with a suffering nation.”
Unbelievable! Fortunate individuals? How about “people who worked hard and set aside some money for the future”? Time for them to share?? There is no sharing, it’s theft, pure and simple. Sharing is voluntary. Man, this infuriates me.
When one is forced to labor for the benefit of another, it is slavery. Without property rights, we are nothing but slaves.
Oops, I thought he had actually said this. You’re too good - I hope you don’t decide to become a speech writer for Obama. ;-)