Teresa Ghilarducci
For people who are not familiar with "The New School" in NYC, it is about the most radical gathering of academic Marxists you've ever seen.
Posted on 10/27/2008 3:38:17 PM PDT by prplhze2000
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.
Ms. Ghilarducci outlined her proposals in a briefing paper nearly a year ago: "The plan calls for all workers not enrolled in an equivalent or better defined-benefit pension to enroll in a GRA, a plan that borrows the best features of defined-benefit and defined-contribution plans, including guaranteed retirement benefits that last a lifetime, low administrative costs, and steady contributions. With GRAs, workers will accumulate savings in investment funds that earn a rate of return guaranteed by the federal government. These funds will be converted to life annuities upon retirement. Along with Social Security benefits, these will replace approximately 70% of pre-retirement earnings for the typical retiree....
(Excerpt) Read more at kingfish1935.blogspot.com ...
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Out of my cold, dead hands Mz. Ghilarducci.
A government forced PONZI scheme that is funded by massive confiscation of private wealth and perpetually funded by continued looting of everyone’s paychecks after government has pissed the initial treasure trove on giveaways and reparations to our descendents of former slaves and those that choose not to amount to anything in life.
Why do I see a revolution in this country soon?
I didn’t spin anything. I just let their words speak for themselves.
I highly recommend reading the rest of her plan.
Dontcha just love it when the government “guarantees” something? They’re “guaranteeing” it with the TAXPAYERS’, i.e., YOUR money!
Notice how they let you keep only half of it. That money is never completely yours.
WHY McCain won’t run ads on this is beyond me. This is one issue people get IMMEDIATELY! Its related to the economy, directly affects the pocketbook, and puts the Dems on the defensive as taxers, spenders, and takers.
It can’t happen soon enough.
“F” the democrats and their communist crap.
Teresa Ghilarducci
For people who are not familiar with "The New School" in NYC, it is about the most radical gathering of academic Marxists you've ever seen.
can you post more info on it?
Did I miss a memo?
L
Keep your powder dry. you will be called upon at the appointed time. I would not be surprised to get a letter or phone call from some retired general in the near future.
I don’t need to read it. FORCED participation in anything beyond serving your country in times of war is against the principles of freedom. Confiscation because you happen to have more than someone else and obtained it legally is not freedom - it is oppression.
many many things wrong with this.
what if you are still alive, after the 3%year invested money is gone?
this is socialism. to force you to give up more money and redistribute it. they’ve borrowed on ss, what’s to prevent them from using these and putting in IOUs?
what about hyper-inflation?
what about the private sector losing these funds to invest and grow?
So this is another, forced, social security plan?
No, don't you see? This time they'll really actually hold your money in an account for you. No no, really!
Redistributing wealth.
Only one things to say to Ms. Ghilarducci....”Eh-ah, Godfather, hows about an offer you can’t refuse!!!”
Of course, the elites will excuse themselves from such laws.
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