Skip to comments.Obama Begins Push For New National Retirement System
Posted on 11/22/2012 1:13:55 AM PST by lowbridge
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrations effort to nationalize the nations pension system and to eliminate private retirement accounts including IRAs and 401k plans, NSC is warning.
The hearing, held in the Labor Departments main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
This hearing was set up to explore why Americans are not saving as much for their retirement as they could, explains National Seniors Council National Director Robert Crone, However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.
A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a government-sponsored program administered by the PBGC (the governments Pension Benefit Guarantee Corporation). She proclaimed that even private annuities are problematic.
Such reforms would effectively end private retirement accounts in America, Crone warns. These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system.
(Excerpt) Read more at theminorityreportblog.com ...
A Conversation with Ann Barnhardt
It is all about control and having power over people.
Why don’t they just come for all of our $h!t NOW—homes, land, investments, valuables—instead of this constant drip, drip, drip of theft.
It’s not like we don’t know they wanna do that.
I am so sick of hearing about not fair from these bastards.
Why bother to work, or do without to save, when more people will stop working and saving because they’d get the same government money as everybody else. MEANING LESS! Eventually everyone will stop working, and the government will go broke.
Sure 401k plans and IRAs are unfair to poor people because that money is not redistributed to people that didnt earn it. How could that be fair?
I love the name of this communist organization. Pension Rights Center an organization whos objective is to take the pension that you worked for and redistribute those funds to people who didnt work at all.
Bill Whittle “Where do we go now?”
Ann Barnhardt Responds To Your Comments
The Key To Reclaiming Culture by Ken Ham
Sink the Blue States!
But the important thing is the message some sent by not voting for a rich Morman RINO. /s
Retirement? What retirement? Take away what little savings we have, give us worthless government bonds, effectively undermining the very nature of private property rights, and expect us all to sit and purr like lapcats? Bite the hand that steals, hard! See what they do next.
They need to legislate customers for all that debt they are amassing. Just another layer on the pyramid.
This scheme is in the cards if the rats get the kind of control they had when they passed communist health care.
I don't know about you, but at my house we're armed.
So saving your money is unfair to poor people? The grasshoppers are grabbing all the food of the ants.
BTW-Isn't this what Social Security is all about-taking money and giving people an annuity? How is that working out?
Just keep on pushin’ your wealth redistribution, BOzo.
By the time he completes his mission,
half of the country will be well- indoctrinated; making it to where there's not much hope for civility or much ground for common sense to take the lead. Soros is enjoying this. Our side as is now; too inept to push back those as Soros, Obama, Axelrod and the mafia unions. We are not going to gain ground with these cross the aisle weak republicans.
Didn’t the government of Argentina already take their citizens’ retirement money away? Socialists of a feather...
Why did the duck cross the road?
To get into north Korea.