See other Dead Constitution Articles
Title: Democrats Target 401k and IRA Retirement Accounts
Source:
DUmpster via Google Search via El Pee via Right Side News
URL Source: http://www.democraticunderground.co ... az=view_all&address=103x400839
Published: Nov 10, 2008
Author: Karen McMahan
Post Date: 2008-11-13 00:03:43 by Rotara
Keywords: None
Views: 135
Comments: 8
Democrats Target 401k and IRA Retirement Accounts November 10, 2008 Poster Comment: Another bailout/Commie-Fascist Nationalization underway. I freaking hate these Globalist National Party tools. HATE. Big Government Statist Socialist/Communist Fascism is a terminal illness everywhere it infects. F**kin' thievin' slave makers !!! They HATE Americans/America/the Constitution/Bill of Rights !!
By Karen McMahan
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. Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers' retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.
(snip)
All workers would have 5 percent of their annual pay deducted from their paychecks and deposited to the GRA. They would still be paying Social Security and Medicare taxes, as would the employers. The GRA contribution would be shared equally by the worker and the employee. Employers no longer would be able to write off their contributions. Any capital gains would be taxable year-on-year.
Analysts point to another disturbing part of the plan. With a GRA, workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.
http://www.rightsidenews.com/200811082544/editorial/dem...
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: All (#0)
Having scanned the DUmpster thread, it's become even more apparent to me that as stoooooopid as the Repubiclan wing is - the RATS are far deeper in the hole and seem to be pretty much completely retarded and ignorant. All hail the Obamessiah ! All hail World Socialist Gooooobermint ! Dumb effs.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
Taxing workers 5% of their income will send America into a raging Depression. If people lose their jobs, they will be paying zero dollars into the Suck Hole otherwide known as Washington DC. We do not need to buy Treasury bills with Social Security funds. We could vreate a debt free money so we don't have to create a debt every time we create money, Please investigate non-interest bearing debt free money here: http://www.Monetary.org
The Truth of 911 Shall Set You Free From The Lie
The system YOU TAXPAYERS have been tolerating is a fucking cookie jar open to the elites to steal from YOU and then use YOUR FUNDS to buy everything they need in order to control you and your future. People have been buying TREASURY BILLS for 100 years and the fucking TREASURY is EMPTY ! WAKE THE FUCK UP OUT OF THE DREAM STATE. I've been looking for this collapse for a long time. This is the opportunity to disconnect from the "BEAST SYSTEM" ... hear me ... You can stay "in their system" or you can get out! Their system is designed to keep you where they want you kept. I'm sure the patriot-alternative-awakened masses etc., have socked away a considerable amount of precious metals that could be combined to start an honest banking system, TOMORROW ! Just as it has been done in the past, it needs to be done again. Those depositing metals are to be given receipts ie., gold/silver notes and metals put on a standardized amount like $1000/ oz gold and $25.00/oz silver. Lending and commercial ventures would be supported by a TEMPORARY semi- fractional reserve system at 50% reserves. (Unless another program that is better thought out than mine is possible). It is time to DO SOMETHING BEFORE THEY IMPLEMENT MORE BULLSHIT. IT's OUR COUNTRY and WE NEED TO RUN IT. FUCK THE JEW THIEVES !
Where's your birth certificate Barack ?
Thanks, I'll check it out. In the meantime, here's the future for AmeriKa: "If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
bump
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
Asserting the global financial crisis is "not a failure of the free market," President George W. Bush on Thursday called on the world leaders meeting this weekend to agree on a modest set of reforms aimed at preventing future collapses. "Government intervention is not a cure-all," Bush was to say in a speech here, according to prepared remarks released in advance by the White House....
The bastards wipe their asses with the Constitution and injected toxins into the 'free markets', destroying them in a way in which Karl Marx would be proud.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
Unions driving wages and benefits off the charts doesn't help. Damn Communists.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#2. To: Rotara (#1)
#3. To: Horse (#2)
We do not need to buy Treasury bills with Social Security funds. We could create a debt free money so we don't have to create a debt every time we create money,
#4. To: Horse (#2)
#5. To: noone222 (#3)
#6. To: Rotara. all (#5)
dull leader, from ino.com -
#7. To: lodwick (#6)
Asserting the global financial crisis is "not a failure of the free market," President George W. Bush on Thursday called on the world leaders meeting this weekend to agree on a modest set of reforms aimed at preventing future collapses. "Government intervention is not a cure-all," Bush was to say in a speech here, according to prepared remarks released in advance by the White House....
#8. To: All (#7)
Top • Page Up • Full Thread • Page Down • Bottom/Latest