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

[roses of sharon]

Following tweets about the leftwing "America's Fiscal Choices" conference.

Economic Policy Institute.

Scary, scary, stuff!

[E. Pluribus Unum]

And they'll spend every penny and create a phony "lockbox" where they keep the IOUs, just like they did with Social Security.

[roses of sharon]

ATTENTION REPUBLICAN CANDIDATES....RUN ADS FROM THIS CONFERENCE!

[GeronL]

Seizure of Life Savings

[JRandomFreeper]

it's whether it represents the best use of these dollars for that purpose

Actually, the only real question is: "Is it ok to take money from one person at gunpoint and give it to another?"

If I recall, one of the big 10 was "Thou shall not steal".

/johnny

[6ppc]

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.

There is no news worth taking the time to read in those tweets.

[Frantzie]

There is about $10 trillion in IRAs, 401Ks, 403B, etc and the Democrats want to get their hands on it.

[roses of sharon]

This is very serious, imv.

These people are very well respected (barf) in the media and in Academia (barf).

I will no longer listen to anyone claiming this stuff cannot be done...just watch the tweets, they discuss how to MASK their intentions from the public.

And the MSM will not cover this in context.

[GeronL]

This has been kicked around before, always by the left. I think Jesse Jackson wanted to do it when he ran for Prez as reparations.

[roses of sharon]

The Economist promoting this policy testified before Congress....for the Democrats last year.

Republicans can use her testimony in political ads.

[massgopguy]

401K’s aren’t just for retirement. But let’s just say that if Social Security is the Third Rail, then my 401K is the Trip Wire.

[IrishCatholic]

Ministry of Plenty bookmark.

[roses of sharon]

Waiting for the MSM to bring you “news” of the Democrats plans and dreams to steal your earnings is futile.

[GeronL]

I hope someone is copying it all down and will write about it. Maybe alert someone at the Washington Examiner?

[Bean Counter]

Think hard about the possibilities here, linked up with a potential lame duck session of the most unpopular Congress in memory, and a Presidential Commission on the Economy scheduled to report the first week of December.

“Never waste a good crisis”, right?

Retirement accounts represent one of the last large stashes of liquid cash that the Government hasn’t been able to tap, yet. I’m not sure what it would take, but it would amount to outright seizure of private funds, and I can’t think of a better way to literally set off a revolution.

And imagine what the effect on the markets will be when people even think this imminent, and start cashing out those accounts, damn the penalties, to stuff the mattress full of cash or buy as much gold as they can.

This Regime is capable of anything.

[mo]

This cash reserve-10-12trillion..is the last untouched “playground” for the Feds. You better believe our national creditors expect it delivered to them on a platter.

Actually this is where I expect the ‘Lame duck “ congressional sessions to be focused...

[ScottinVA]

There is about $10 trillion in IRAs, 401Ks, 403B, etc and the Democrats want to get their hands on it.

If they think people and businesses are hoarding their hard-earned money now.... they haven't begun to see what'll happen.

[Frantzie]

“ATTENTION REPUBLICAN CANDIDATES....RUN ADS FROM THIS CONFERENCE!”

H*ll yeah! They want seniors dead faster to tax their estates and steal their retirement plans. Evil Dems.

[Ole Okie]

As I recall, Robert Reich was promoting a “one time tax” of 15% on retirement plans while he was Clinton’s Secretary of Labor. My take on it was that only the 1994 election stopped that one.

Unfortunately, retirement funds are the last sizable reservoir of money in the country. The Demoncrats will never rest until they have it in their grubby little paws. Then they can issue IOU’s till that’s gone.

[Bitsy]

And they’ll spend every penny and create a phony “lockbox” where they keep the IOUs, just like they did with Social Security.

Yep. Blood suckers! Need to get the news out!