Posted on 10/10/2010 7:49:36 PM PDT by Lorianne
Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.
Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci.
(You can find the blistering interview with Guilarducci by radio talk show host Mark Levin in 2007 at the link).
In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions.
This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.
(Excerpt) Read more at humanevents.com ...
Federal marshals and FBI agents are no different than other LEOs when it comes to hitting what they’re shooting at. They all are loved by the ammo industry.
I remember Connie!
It’s not a saying but a man with a terminal disease won’t even see his trial date for killing a politician.
Make no mistake, the Unions who watched their pension funds be decimated by their own leadership's corruption now want to grab hold of OUR 401k's and create a single-payer system for retirement.
The problem the Federal Government has is that due to their expensive union contracts, there's some $20,000,000,000,000 (that’s trillion!) dollars in unfunded liabilities for the SEIU and other government employee untions.
Where does Andy Stern and Obama think they're going to get the money? Your and my 401k, that's where!
This is exactly why the Democrats need to be stopped on November 2nd.
The Republican party will have but one chance at redemption.
They must defund ALL of Obamacare.
They must stop any future or current Obamitrocity.
If they don’t, you can write off any peaceful solution to our problems. The states will secede, and then the people will revolt.
Obamacare was fraud writ large.
This is aggravated armed robbery.
Correct. I heard it was 6 trillion at last count.
I'm completely with you on that, in fact that's probably what it's going to take.
As much as I want to have faith in fixing this mess as the ballot box, the other part of me says it ain't gonna happen.
If our leadership after November is anything like how Cantor was against Schultz yesterday on FNS, we're screwed yet again.
I have a friend who has started saying that if he gets a terminal disease, he has a bucket list of people to take care before he dies.
All those Aesop fables we read in the second grade (with the teacher making sure we understood the moral of each fable) were a waste of time? For example, the Ant and the Grasshopper? The Boy who cried Wolf?
Of course, that was back in the '30's for me. They still worked then.
Yeah, fraid so.
Who says crime doesn’t pay in 2010? If you have big, rich, well connected Liberal friends, you can make a bundle.
Ol' CAL has quite the way with words; not quite an Ann Coulter.
yitbos
They’re not going to “take” anyone’s 401k. They will simply “rename” it something else and give you one choice of holding: “Retirement” bonds.”
There is a big difference.
You & others have been saving in your 401 (k) plans for 35+ years. When YOU start drawing money from it, no one knows how long you will live. If you are drawing on a
planned basis of 25 or 30 years & you die at 6 years, the remainder of your account balance is able to be moved to your heirs in your estate. With this ‘Government Bonds” sceme, any money left in your account balance will be put into the pot—just like Soc Security is now.
The person who put all that savings into their retirement account will get alot of it robbed from them by the Federal Government.
The first round of takings is to shore up the union pensions that were not properly funded by companies.
Therefore, non-union persons who made less money for years & years will be funding UNION members pensions.
How’s that grab you? Time to take a stand?
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