Posted on 10/13/2010 11:40:24 AM PDT by anniegetyourgun
Honestly, I don’t even know what to say about this.
Senator Tom Harkin of Iowa is threatening 401(k) plans — insisting Democrats can use the lame duck, post-defeat session of Congress to ram through a measure that would seize your personal 401(k) plans and use them to prop up the union pension plans that are imploding.
(Excerpt) Read more at hillbuzz.org ...
Additional to that there are Democratic Senators who will be up for election in 2012 (like Bill Nelson of Florida) who simply are not going to commit political hari-kari for the 'bamster.
The money is at risk of being lost to the corrupt crooks on Wall Street and the government can better manage the money in Social Security and provide people the safety and stability they are demanding for their retirement.
Heading into lame-duck hell.
Under either scenario the GOP will have enough votes to filibuster anything the Dems try to do during a lame duck session.
And if the GOP doesn’t, there will be **** to pay.
Personally, after we see how badly the Dems lost in 2010, I think enough Democrat senators up for election in 2012 that will thinking about their own skin and refusing to go along with these extreme proposals.
IMHO, the hard working farmers have been paying so much attention to work they neglected politics.
They didn’t realize the “party of the little folk” had taken a hardleft turn towards socialism and even a touch of tyranny.
I meet a lot of them here in FL, retired. They vote Democrat reflexively, for the unions and out of outdated opinions (”My family was always a Democratic family!”).
Obama is busy educating them. I cannot tell you how many friends I have in their forties and such, who have told me they cannot get their parents to vote anything but Demo even though the families are conservative through and through.
Obama is actually changing that. It’s great to see.
I know the Democrats are stupid but they are not suicidal. No way this happens. A bunch of talk.
“the hard working(and SOME of them don’t work so “hard”) farmers” don’t by in large re-elect “Commie-Tommy” The Dumb Ass POSs in DSM, Ceder Rapids, Waterloo, Davenport, Iowa City, Ames, Ceder Falls do.
The libs have been talking about this for a while. They know their system doesn’t work unless they get into everyone’s candy jar. I’m sure it’s their plan.
He seizes my 401-K and I seize his damn throat.
FMCDH
Only if there is political will. I suspect things like HCR get passed because the opposition secretly doesn’t mind. In HCR that’s a huge transfer of wealth and power to the political class. If you’re part of the ruling elite, what’s not to like? And if you have plausible denyability when it’s passed, that’s a double bonus!
I never forget that Republicans are politicians too.
I'm not buying that. After watching Lisa Murkowski and Mike Castle lose primary battles, I believe that a lot of Republicans are going to watch their P's and Q's. They simply aren't going to want to be targetted by a 2012 primary challenge.
“...the hard working farmers in Iowa re-electing Tom Harkin year after year.”
.
Similar to the hard working people in MA re-electing Kennedy (in the past) and Fwanks and the the people in AZ re-electing McClown. Some people take great delight in self-destruction.
And if the GOP doesn’t, there will be **** to pay.
Personally, after we see how badly the Dems lost in 2010, I think enough Democrat senators up for election in 2012 that will thinking about their own skin and refusing to go along with these extreme proposals.
Republicans currently have 41 Senate seats...they got the 41st seat when Scott Brown won election in January. It takes 41 seats to filibuster anything.
They might try. But it would be the end of the Democratic Party.
What is more likely to happen is that balances in 401(k) accounts will be used for various accounting and tax calculation purposes in the future -- and effectively has the same impact of "confiscation" in a back-door kind of way. One big one that comes in mind involves future Social Security payments to retirees. I can easily envision a day when Social Security benefits are partially reduced for responsible retirees who have substantial assets in private retirement accounts (401k, IRA, etc.).
I also think anyone who did a Roth IRA conversion in the last ten years and paid the income tax on that conversion was a fool. I am almost 100% certain that those Roth IRA accounts will not remain "tax free" into your retirement years.
” At worst, the GOP will head in the lame duck session with 40 seats. At best they will have 42 (The winner of Byrd’s and Biden’s old seats will be sworn in immediately). “
Don’t discount the Maine Harpies, and Grahamnesty... Between these avowed “Dems In Everything But Name”, and the ‘closet squishies’ that pop up from now and then, a nominal 42 member Republican caucus is no guarantee of an effective filibuster....
Harkin is also a sponsor of a bill to assess a 1% federal excise tax on every consumer bank transaction.
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