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"Democrat" 401K Confiscation Proposal is "Republican" Mandatory Savings Plan
John Birch Society ^ | 11/15/2008 | Eagle USA

Posted on 11/15/2008 2:47:36 PM PST by EagleUSA

Monday, 10 November 2008 06:32

"Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration."

That was the lead sentence in an article entitled, "Dems Target Private Retirement Accounts," published in the Carolina Journal on November 4th. With those alarming openers, the article has gone viral over the last week — at least among those who advocate less government interference in their economic lives.

Unfortunately, the Carolina Journal is only telling half of the story — the baaaad Democrat half. Missing from the Carolina Journal is the baaaad Republican half that suggests replacing voluntary 401K contributions and savings with mandatory retirement savings accounts. This oversight is in keeping with the target market for the Carolina Journal — establishment Republicans who like their partisanship dressed-up in libertarian platitudes. The Carolina Journal is the flagship publication of the North Carolina-based John Locke Foundation (JLF). JLF employs respected (small government is better) scholars, but also raises money by bringing to town neo-conservative (bigger government is better for spreading democracy) luminaries like William Kristol and Frank Gaffney.

(Excerpt) Read more at jbs.org ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Government; Politics/Elections
KEYWORDS: 111th; 401k; agenda; bho2008; confiscate; gop; jbs; retirement; savings; socialists
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This is a good read. Another look into the planning phases of a planned takeover of America's retirement savings. It does add some information that was not expressed well in earlier web articles on the subject. This topic needs to be FOLLOWED, POSTED, RE-POSTED, until every soul knows what these socialists are planning to do to the wealth of the American citizen.
1 posted on 11/15/2008 2:47:37 PM PST by EagleUSA
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To: EagleUSA

Bookmarked for later read.


2 posted on 11/15/2008 2:54:43 PM PST by benasawin
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To: EagleUSA

You’re quoting the John Birch Society?


3 posted on 11/15/2008 2:55:01 PM PST by xjcsa (And these three remain: change, hope and government. But the greatest of these is government.)
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To: rabscuttle385

ping


4 posted on 11/15/2008 2:57:18 PM PST by stockpirate ($300 MDUS in illegal donations to O's campaign. Stolen election, where's the outrage?)
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To: EagleUSA
Hmmmmmmm. John Birch Society, eh?

How much credibility should we assign this...???

5 posted on 11/15/2008 2:57:24 PM PST by okie01 (THE MAINSTREAM MEDIA: Ignorance on Parade)
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To: EagleUSA
baaaad Republican half that suggests replacing voluntary 401K contributions and savings with mandatory retirement savings accounts.

I guess I missed it. Which republican suggested this?

6 posted on 11/15/2008 2:59:37 PM PST by hinckley buzzard
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To: EagleUSA

If there is a government move on IRA’s and 401K’s the massive anger and protest that will result will make the Boston Tea Party look docile.


7 posted on 11/15/2008 2:59:49 PM PST by Keflavik76 (If NYT (Junk); { Wrap(Fish); Else Read( FR);})
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To: EagleUSA

Socialism, Socialism, Socialism!

Here it comes. Look out!


8 posted on 11/15/2008 3:01:46 PM PST by Candybar
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To: Keflavik76
If there is a government move on IRA’s and 401K’s the massive anger and protest that will result will make the Boston Tea Party look docile.

Don't count on it, the government just might coordinate the take over with the start of the new season of American Idol.

9 posted on 11/15/2008 3:04:18 PM PST by murphE ("It is terrible to contemplate how few politicians are hanged." - GK Chesterton)
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To: Candybar

There is no need to say the sky is falling, it already fallen.


10 posted on 11/15/2008 3:04:38 PM PST by Keflavik76 (If NYT (Junk); { Wrap(Fish); Else Read( FR);})
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To: Keflavik76

Maybe so but the media will make sure that it is directed to former President Bush and what then comprises the Republican Party. Not at the Democrats.


11 posted on 11/15/2008 3:07:29 PM PST by sport
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To: berdie

later


12 posted on 11/15/2008 3:11:24 PM PST by berdie
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To: EagleUSA

I knew a guy that belonged to:
“The Society For The Preservation Of Wooden Toilet Seats”
It was commonly referred to as “The Birch John Society”.
Ba-dum-dum.


13 posted on 11/15/2008 3:14:52 PM PST by Repeal The 17th
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To: sport

Its going to be difficult for the media to keep blaming President Bush when the democrats are in control of two branches of government. When things go south for the dem’s they are going to have to carry that weight.


14 posted on 11/15/2008 3:17:45 PM PST by Keflavik76 (If NYT (Junk); { Wrap(Fish); Else Read( FR);})
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To: Keflavik76

15 posted on 11/15/2008 3:19:38 PM PST by Mount Athos (A Giant luxury mega-mansion for Gore, a Government Green EcoShack made of poo for you)
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To: okie01
Well, they aren't as phony a source as say, The New York Times or The Chicago Tribune.
16 posted on 11/15/2008 3:31:26 PM PST by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Keflavik76

Does Herbert Hoover ring a bell?


17 posted on 11/15/2008 3:31:57 PM PST by sport
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To: okie01
Hmmmmmmm. John Birch Society, eh? How much credibility should we assign this...???

How much credibility would you assign it, and why?

18 posted on 11/15/2008 3:41:11 PM PST by Misterioso ( "Socialism is an ideology. Capitalism is a natural phenomenon." -- M. Rothschild.)
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To: EagleUSA

There are a lot of folks who will pull their money out before letting the govt gets its hands on it. I should start a company with bed matresses that have combination locks...


19 posted on 11/15/2008 4:02:42 PM PST by Tench_Coxe
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To: EagleUSA

Except the Republican plan paid at the actual rate of gains. The dems plan to pay out a fantastic 3% less government fees and TAXES which will be 5-8%. IOW, NET LOSS!


20 posted on 11/15/2008 4:06:04 PM PST by dbacks (God help the USA.)
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