Posted on 12/14/2010 5:26:27 AM PST by IbJensen
Unionized labor is looting from us. Plans to take over our 401K- private retirement funds. Communists did the same in Argentina, sized private pension funds.
http://gatewaypundit.firstthings.com/2010/05/obama-administration-m...
http://www.commieblaster.com/index.html
http://www.commieblaster.com/economy/index.html
The Obama Administration is making plans to take over the nation’s 401(k)s in order to bail out their union backers and their bankrupted pension plans.
Connie Hair at Human Events reported:
In February, the White House released its “Annual Report on the Middle Class” containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options.
The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement — which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies. Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report.
In conjunction with the report’s release, the Obama administration jointly issued through the Departments of Labor and Treasury a “Request for Information” regarding the “annuitization” of 401(k) plans through “Lifetime Income Options” in the form of a notice to the public of proposed issuance of rules and regulations. (pdf)
Republican Leader John Boehner released this statement today in response to this recent move by democrats:
Keep Bureaucrats’ Hands off Americans’ 401(k)s
House Republican Leader John Boehner (R-OH) and members of the House GOP Savings Solutions Group sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and should reject proposals that would dismantle or nationalize the private 401(k) system in favor of a government-run retirement security regime. Several Administration officials, including the Vice President, have voiced support for efforts to create so-called “Guaranteed Retirement Accounts” or impose new government mandates which would undermine 401(k) retirement savings plans and jeopardize employers’ willingness to continue offering them to their workers. Boehner issued the following statement:
“The American people are asking ‘where are the jobs?’ They aren’t asking for job-killing policies that jeopardize their retirement savings. Unfortunately, Washington Democrats are pursuing policies that make it more difficult to offer 401(k) savings plans to their workers, and some are even advocating replacing them with government-run accounts and ending 401(k)s altogether. That’s unacceptable and not the solution Americans need at a time when they are still rebuilding their retirement, college, and personal savings.
“Republicans are committed to offering better solutions, and the proposal we have offered – the Savings Recovery Act – will help restore Americans’ savings and ensure that Washington does not stand in the way of families’ ability to save more. It’s time for Democrats to stop advocating policies that will destroy Americans’ savings and work with Republicans on better solutions to help rebuild them.”
Several GOP House members signed on to a letter delivered to labor Secretary Hilda L. Solis and Treasury Secretary Timothy Geithner expressing their concerns today.
Unionized labor is looting and extorting the money from taxpayer's.
We must watch now for new bail-outs to unionized labor or dictatorship = communism.
USA, Liberty from unionized labor and unionized, monopolized dictatorship.
Defend our Constitution. Defend Capitalism and terminate unionized labor from government.
See the Truth face of Unions.
Labor is always associated with communism and less education.
Unionized labor is the same like monopoly power, taking maximum profits at other peoples expense , prosperity, liberty and life.
Unions must be terminated from government. They are not legal. They should exist only in private industry to protect only basic rights of workers.
General Motor was destroyed by Union's inability to compete with other competitors.
In addition to it, communist Obama bailed General Motors at taxpayer's expense.
I think he has it backwards....but the result is the same..........
This ain’t gonna happen. Promise.
-Rex
You can’t collect a union pension if you are dead
"The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president.The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America . Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince.
The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools such as those who made him their president."
Yup!
Touch our 401Ks and it’s WAR!
Victims of Lawful Plunder
Men naturally rebel against the injustice of which they are victims. Thus, when plunder is organized by law for the profit of those who make the law, all the plundered classes try somehow to enter — by peaceful or REVOLUTIONARY means — into the making of laws. According to their degree of enlightenment, these plundered classes may propose one of two entirely different purposes when they attempt to attain political power: Either they may wish to stop lawful plunder, or they may wish to share in it.
Woe to the nation when this latter purpose prevails among the mass victims of lawful plunder when they, in turn, seize the power to make laws!
Until that happens, the few practice lawful plunder upon the many, a common practice where the right to participate in the making of law is limited to a few persons. But then, participation in the making of law becomes universal. And then, men seek to balance their conflicting interests by universal plunder. Instead of rooting out the injustices found in society, they make these injustices general. As soon as the plundered classes gain political power, they establish a system of reprisals against other classes. They do not abolish legal plunder. (This objective would demand more enlightenment than they possess.) Instead, they emulate their evil predecessors by participating in this legal plunder, even though it is against their own interests.
It is as if it were necessary, before a reign of justice appears, for everyone to suffer a cruel retribution — some for their evilness, and some for their lack of understanding.
The Results of Legal Plunder
It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.
Frederic Bastiat 1801-1850
(CAPS mine)
These economic terrorists/plunderers need to be brought up on treason charges.
Life, liberty and the pursuit and destruction of totalitarians.
No bag limit....................
The citizenry of this country have been Socialized by government (federal, state, and local) to allow the confiscation of huge amounts of wealth on an annual basis with barely a word uttered. If government can get away with stealing the wealth that people people are creating now what is to prevent them from taking their retirement, also????
It was being talked about during the 2008 election. There have been several proposals for raiding private savings including Hillary’s thinking out loud suggestion that there be a one off 10% tax on 401K pensions. In some form or other, the Govt can’t wait to get it’s hands on that treasure trove.
I hope that is true, one would not think it would be possible, but we really didn’t think they would pass stimulus to give to unions to be used as slush funds for the socialist agendas either..this too should have been against the law. but they did it....I think it is the hand to hand combat Uhbummer said it would be, they are desperate to get funding however they can...They are trying to destroy us..
“The fact that it is even being talked about is astounding”.
...that’s my thought as well. Just “talking about” certain issues is how we got where we are today. It gets floated out there and eventually becomes acceptible as it goes into debate. Pork and ear mark “deals” are made so it’s not “so bad” after all.
“Touch our 401Ks and it’s WAR...”
Why do you think Justice Breyer has been sniveling about the Second Amendment of late?
http://www.freerepublic.com/focus/f-news/2642343/posts
Extra points given to multiple casualties with one shot..
I think sometimes people like kicking the hornet’s nest.
Unless I am forgetting something (still on first cup o joe)...the IRS doesn't write the rules, it only gets to enforce them.
If my 401K is stolen by these, unfit to breath our air, communists in unions and the democrat party I will lose my freedom because there will be some of the aforementioned sub-human pigs who will no longer be breathing our air.
The theft of our property should bring on another American Revolution.
Scenario:
Public pensions and Union pensions collapse.
The government will use the well worn excuse of FAIRNESS as a way of sharing/spreading wealth from the savers to the leeches by offering EVERYONE a guaranteed 3% return on all money currently in 401 k’s IF the government is allowed to take control.
The media will show endless stories of grandma and Freddy the Fender fixer eating out of a dumpster because his Ford pension has collapsed.
The sheeple will DEMAND that something be done and then will MEEKLY go along with the proposal.
Many/not all who are against this proposal will be trying to hold on to what wealth they have left rather than do the right thing......replay 1776 all over again.
Government always takes in increments.
JMO...
I hope they try. That should scare even the brain dead middle-class.
The simple truth is that we should repeal all legislation that gives unions their special powers. As the writer points out, they have been destructive in the private sector as well as the public sector.
Besides, that would probably tank the stock market.
OTOH, the feds could disqualify anyone with a 401k from receiving Social Security.
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