Although unknown to most Americans, Teresa Ghilarducci is the intellectual godmother for the Democrats' plans to radically change how Americans save for retirement. Ms. Ghilarducci, an economist at The New School for Social Research, called for the abolition of the tax breaks given to employers for 401k plans and instead proposed the mandatory enrollment of American employees in Government Retirement Accounts (GRA's) that are funded by a 5% mandatory payroll deduction in her book, When I'm 64: The Plot Against Pensions and the Plan to Save Them, published last year.
http://www.gopusa.com/archives/business/2009_01_15_living.html
In fact the radical-dominated House Education and Labor Committee is already floating plans to “merge” privately-owned 401(k)s with the Social Security system (which former U.S. Comptroller David Walker has been warning is little more than a vault of government IOUs). In such a “merger” — spearheaded by House committee chairman Rep. George Miller (a Marxist hailing from California’s Berkeley area) — your tax-sheltered personal investments would be liquidated, dumped into government bonds, and linked up with the cash-desperate Social Security “retirement” system (i.e. as government bureaucrats “spread the wealth,” and you are reduced to standing in line, hat in hand, hoping you get some portion of your life savings back). (Of course, your purchasing power will evaporate after the federal government inflates away the value of your so-called “Guaranteed Retirement Account,” or GRA as it would be named.)
Clutching Their Ideals Bitterly, Right-Wing Media Personalities Wage Partisan Warfare
Bulldog Reporter | November 11, 2008 | Staff
Posted on 11/11/2008 10:42:09 AM PST by La Enchiladita
http://freerepublic.com/focus/f-news/2130183/posts
[snip] “They’re going to take your 401(k), put it in the Social Security trust fund, whatever the hell that is,” Limbaugh woofed. “Trust fund, my rear end.” A slight problem with Limbaugh’s report: Obama and the Democrats have proposed no such thing, the Times reports. [end]
Congress mulls major 401(k) changes
Investment News | 08 oct 08 | Sara Hansard
Posted on 10/09/2008 6:13:51 AM PDT by rellimpank
http://www.freerepublic.com/focus/f-news/2101292/posts
Congress mulls major 401(k) changes (The Obama Retirement Ripoff of 2009)
Investment News | 100708 | Sara Hansard
Posted on 10/09/2008 11:25:48 PM PDT by Fred
http://www.freerepublic.com/focus/news/2102082/posts
House Democrats contemplate abolishing 401(k) tax breaks
Investment News | 10/12/2008 | Sara Hansard
Posted on 10/16/2008 8:32:17 PM PDT by Keyes2000mt
http://www.freerepublic.com/focus/f-news/2107721/posts
House Democrats Aim to Remove 401k Tax Breaks
All American Blogger | 10/22/08 | Duane Lester
Posted on 10/22/2008 9:42:21 AM PDT by Bodhi1
http://www.freerepublic.com/focus/f-bloggers/2112274/posts
House Democrats Contemplate Abolishing 401(k) Tax Breaks
Workforce | 10/22/2008
Posted on 10/22/2008 11:59:13 AM PDT by ncfool
http://www.freerepublic.com/focus/f-news/2112409/posts
House Democrats Contemplate Abolishing 401(k) Tax Breaks
Workforce Management | October 16, 2008 | Sara Hansard
Posted on 10/22/2008 6:05:30 PM PDT by Chgogal
http://www.freerepublic.com/focus/f-news/2112720/posts
Democrats to kill 401(k)s for … privatized Social Security?
Hotair
Posted on 10/23/2008 6:52:48 AM PDT by indianyogi
http://www.freerepublic.com/focus/f-news/2113105/posts
Biden: “Their pensions go first”
AP via Google News | October 23 2008 | Steven K. Paulson
Posted on 10/24/2008 9:46:03 AM PDT by magellan
http://www.freerepublic.com/focus/f-news/2114230/posts
House Democrats Contemplate Abolishing 401(k) Tax Breaks
Workforce Management | October 16, 2008 | Workforce staff
Posted on 10/24/2008 2:04:09 PM PDT by RetiredArmy
http://www.freerepublic.com/focus/f-news/2114445/posts
House Democrats contemplate abolishing 401(k) tax breaks
Crain Communications Inc. | October 12, 2008 | Sara Hansard
Posted on 10/26/2008 4:08:30 PM PDT by Salman
http://www.freerepublic.com/focus/f-news/2115960/posts
McCain suggests Democrats will tax 401(k) contributions, Dems say that’s ‘ridiculous’
Cleveland.com | 10/30/08 | Stephen Koff
Posted on 10/30/2008 6:11:41 PM PDT by Libloather
http://www.freerepublic.com/focus/f-news/2120253/posts
McCain suggests Democrats will tax 401(k) contributions
Cleveland.com
Posted on 10/30/2008 7:22:24 PM PDT by pelican001
http://www.freerepublic.com/focus/f-news/2120317/posts
House Democrats Contemplate Abolishing 401(k) Tax Breaks!!!
Workforce Management | Oct 16, 2008
Posted on 11/03/2008 3:44:16 PM PST by Im4realamerica
http://www.freerepublic.com/focus/f-news/2124088/posts
Hearing on 401(k) plan grows to urban legend
(MSM preparing people for government seizure of 401K!)
MSNBC | Nov. 7, 2008 | John W. Schoen
Posted on 11/07/2008 5:33:43 AM PST by FocusNexus
http://www.freerepublic.com/focus/f-news/2127778/posts
Obama’s retirement plan proposals
- Retirees and workers with 401(k) savings may see changes
South Bend Tribune | 11/09/08 | DAVID PITT
Posted on 11/09/2008 5:53:17 AM PST by Libloather
http://www.freerepublic.com/focus/f-news/2128708/posts
Dems Target Private Retirement Accounts
Carolina Journal | November 04, 2008 | Karen McMahan
Posted on 11/11/2008 7:00:44 AM PST by MelSmith
http://www.freerepublic.com/focus/f-news/2130011/posts
Dems Target Private Retirement Accounts
Carolina Journal | November 04, 2008 | Karen McMahan
Posted on 11/13/2008 6:20:06 PM PST by Lorianne
http://www.freerepublic.com/focus/f-news/2131791/posts
Targeting Your 401(k)
The Wall Street Journal | 11/14/08 | editorial
Posted on 11/14/2008 10:44:12 AM PST by shortstop
http://www.freerepublic.com/focus/f-news/2132194/posts
Calls grow to overhaul 401(k) retirement plans
(don’t read if you have high blood pressure)
Los Angeles TImes | 11/15/08 | Jim Puzzanghera
Posted on 11/15/2008 7:39:37 PM PST by randita
http://www.freerepublic.com/focus/f-news/2132895/posts
Dems Target Private Retirement Accounts
Carolina Journal Online | November 04, 2008 | Karen McMahan
Posted on 11/18/2008 4:45:37 PM PST by Clintonfatigued
http://www.freerepublic.com/focus/f-news/2134324/posts
Dems Target Private Retirement Accounts
Carolina Journal Online | November 04, 2008 | By Karen McMahan
Posted on 11/29/2008 11:41:32 AM PST by DivaDelMar
http://www.freerepublic.com/focus/f-news/2140081/posts
Plenty more here:
http://www.freerepublic.com/tag/401k/index