Democrats want a new mandatory government retirement plan to replace 401k, IRA.

JimPethokoukis Twitter ^ | 10/4/10 | JimPethokoukis

[roses of sharon]

I am Live Tweeting America's Fiscal Choices conference at the Newseum in Washington, DC 2 minutes ago via TweetDeck

# Teresa Ghilarducci wants a new "mandatory" government retirement plan to replace 401k, IRA; admits preferred euphamism is "universal" 10 minutes ago via TweetDeck

# "Social Security is affordable and extremely efficient." We should have a national "conversation about expanding it." 22 minutes ago via TweetDeck

# Teresa Ghilarducci is on panel; she wants to get rid of 401ks and IRAs and create a new government retirement system 24 minutes ago via TweetDeck

# @juliemrobison Indeed, they have! 26 minutes ago via TweetDeck in reply to juliemrobison

# SS panel: Only elitists concerned about Social Security 30 minutes ago via TweetDeck

# Ooooh ... Cato Institute gets slammed for raising Social Security hysteria 33 minutes ago via TweetDeck

# These SS experts would rather raise SS earnings cap rather than means testing 35 minutes ago via TweetDeck

# Just heard that the only people who work past SS retirement age are those who have to .... 39 minutes ago via TweetDeck

# The question is not just if Social Security is actuarily sound; it's whether it represents the best use of these dollars for that purpose 43 minutes ago via TweetDeck

# America's Fiscal Choices conference continues. Now up Social Security ... about 1 hour ago via TweetDeck

[tgusa]

My investment plan is in my tagline

[a fool in paradise]

They don’t like the “public” (private citizens) to have wealth saved that cannot be “borrowed” and spent by the State.

[roses of sharon]

http://www.businessweek.com/investor/content/jul2010/pi20100715_763691.htm

This Economist wrote for Businessweek just a few months ago, she writes and testifies for many “mainstream” publications.

The left’s VAST propaganda machine are working on mainstreaming this idea right now, as we speak.

[GeronL]

A looters’ government

[justlurking]

The title is wrong: the participants may be Democrats, but they don't represent the party.

Teresa Ghilarducci is a left-wing loon.

She peddled the same crap in front of a Democrat Congressional Committee, and was roundly ignored.

[BenLurkin]

Evil.

Bastards.

[roses of sharon]

Nonsense, she wrote this for Business Week 2 months ago, she writes and speaks for many “mainstream” publications.

http://www.businessweek.com/investor/content/jul2010/pi20100715_763691.htm

Solving a Looming U.S. Retirement Crisis
The 401(k) has been a failure and should be replaced with new Guaranteed Return Accounts that could be made available to all workers

[popdonnelly]

I’m not going to sit still for the government confiscating my savings. I don’t care what they call their crap program. Nor do I care how they justify it.

[dila813]

OMG, so they can continue the robbery of Americans.

How bout a new law that says if you take money from Social Security in the present or the future you got to prison for life.

[kevao]

I’m not going to sit still for the government confiscating my savings.

It's already well underway. Our savings have lost 12% of purchasing power just since June 2010 with all the "money" the Federal Reserve has added to the system. Twelve percent in three months...gone...poof!

[dforest]

They looted Social Security. Now they want to loot your life savings to redistribute it to those who didn’t save.

They will try to make it look like a good deal. But it will be a mightmare.

[justa-hairyape]

Might explain why Gold and Silver are shooting for the moon today.

[Disambiguator]

Nothing against the poster of this thread, but this just reinforces my opinion that Twitter is the most useless, time wasting, trivial dreck to appear on the internet.

[taxcontrol]

Social Security is a FAILED program. It is bankrupt, it is falling apart under it's own weight, it does not provide a viable return and will require even higher confiscatory taxes in order to salvage the program.

[roses of sharon]

VAT TAX:

# All agree taxes must go up on middle-class voters. And they’re out! about 3 hours ago via TweetDeck

# America’s Fiscal Choices panelist from Brookings thinks Obama Fiscal Commission might be some agreement on cutting defense spending about 3 hours ago via TweetDeck

# In fact, guy said VAT MUST be layered ON TOP OF existing income tax about 3 hours ago via TweetDeck

# More discussion on the best way to do a VAT. Hey, how about first repealing income taxes. Probably won’t hear that ... about 3 hours ago via TweetDeck

# Ezra Klein almost tripped into understanding that if you tax capital/labor, you get less of both. But like Rob Petrie, avoided the hassock about 3 hours ago via TweetDeck

# And now it’s time for talk about a carbon tax. Hey, how about a VAT, carbon tax, let Bush cuts expire? An All of the Above tax hike plan!

[MHGinTN]

More than a decade ago, Dickhead Gephardt was being interviewed by Brian Lamb when Gep stated that he was all for a privatization of SS so long as the government designated where the funds be ‘invested’ since he and the party (democrats don’tchaknow) didn’t trust that the average American could manage such funds on their own behalf. Democrats have been working on this takeover for decades, to get at the multi-billions in private accounts and provide for the unions which have squandered members’ pension deposits on getting democrats elected and instituting the planned progressive commie takeover of the Republic. The union pension plans are as good as bankrupt now and the democrats must re-imburse their benefactors with taxpayer funding. Or so these lyig, thieving democrats believe.

[sappy]

Houses of Congress first! I insist.

[roses of sharon]

Sorry, but tweeting the words from conference of Dems planning to steal your earnings is not retarded.

[MHGinTN]

‘They’ want to loot private pension funds to pay the unions back for spending union pension funds on getting democraps elected. THAT is the agenda regardless of how the deserving-of-guillotine media spin it.

[roses of sharon]

And I would guess (from previous experience) that maybe 2 in 10 Republicans elected will try to stop this.

Most are just not strong enough to do battle with the MSM/Hollywood/DNC/Academia propaganda machine.