Green Energy
They want to more "fairly" [re]distribute taxpayer-funded pensions to everyone. If this is not socialism, I don't know what is.
- Goodbye, Private Retirement Accounts?
From the National Seniors Council (hat tip to Will of MFS - The Other News): Obama Begins Push for New National Retirement System A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort...
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New York Crimes: Retiree Benefits for the Military Could Face Cuts By JAMES DAO and MARY WILLIAMS WALSH As Washington looks to squeeze savings from once-sacrosanct entitlements like Social Security and Medicare, another big social welfare system is growing...
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Newsmax: Watch Out! Feds Could Seize Your Private Retirement Savings Saturday, 21 May 2011 How long before Uncle Sam hits private pensions to balance the public budget? It’s quickly becoming a reasonable question to ask. Treasury Secretary Timothy...
- So My Idea Is To Take The $4 Billion, And Just Go To The Track
FT: US state pensions becoming federal issueBy Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19 2010 20:44Illinois used to have a plan to pay off the gaping shortfall in the pension...
- Jihad On Your Retirement Account
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs RALEIGH — 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...
Green Energy
Senate Democrats want to seize private 401(k) plans to bail out union pensions
From Watcher:They want to more "fairly" [re]distribute taxpayer-funded pensions to everyone. If this is not socialism, I don't know what is.
(Human Events) 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.
More...
- Goodbye, Private Retirement Accounts?
From the National Seniors Council (hat tip to Will of MFS - The Other News): Obama Begins Push for New National Retirement System A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort...
-
New York Crimes: Retiree Benefits for the Military Could Face Cuts By JAMES DAO and MARY WILLIAMS WALSH As Washington looks to squeeze savings from once-sacrosanct entitlements like Social Security and Medicare, another big social welfare system is growing...
-
Newsmax: Watch Out! Feds Could Seize Your Private Retirement Savings Saturday, 21 May 2011 How long before Uncle Sam hits private pensions to balance the public budget? It’s quickly becoming a reasonable question to ask. Treasury Secretary Timothy...
- So My Idea Is To Take The $4 Billion, And Just Go To The Track
FT: US state pensions becoming federal issueBy Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19 2010 20:44Illinois used to have a plan to pay off the gaping shortfall in the pension...
- Jihad On Your Retirement Account
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs RALEIGH — 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...