Posted on 12/05/2013 4:34:37 AM PST by bestintxas
In his first term, Obama managed to get his paws on health care, banking, energy, student loans, the auto business, and more. Now he has his sights set on your 401(k).
The left has had its eye on retirement savings for years, but so far takeover attempts have been rebuffed. One egregious attempt was the proposal, following the 2010 financial crisis, to "safeguard" retirement savings by requiring that they be rolled over into Treasury bonds. Had this legislation succeeded, it would have appropriated all or part of the retirement savings of millions of Americans. The funds would have been used to finance further expansion of government. In return, savers would have received a promissory note from the federal government similar that issued by the Social Security Trust Fund.
Needless to say, most investors were not keen to convert their savings into Treasury obligations -- or, to be more precise, into an unsecured note promising a return approximating that of Treasury bonds. That is because, as with every other endeavor, government's management of retirement savings (aka Social Security) has been a disaster.
Those who believe that Social Security has done a good job of investing their savings are greatly mistaken. Over the past 200 years, the real, inflation-adjusted return of the U.S. stock market has been 7%. Had one invested $100,000 in the U.S. market in 1802, one's total return after inflation (or that of oneself and one's descendants) would have been more than $100 billion. By comparison, investment in government Treasury bills would have yielded approximately $50 million.
(Excerpt) Read more at americanthinker.com ...
Perhaps an inflated stock market that comes crashing down? Frightened Americans who see their savings vanishing might just let the "safety" of Treasury bonds replace diminished savings.
his new focus on addressing “income inequality” does sound like the opening salvo in an initiative to tap savings and retirement plans, doesn’t it?
only rich white folks have 401K’s because the underserved minimum wage workers have been discriminated against by a society that lacked opportunity (in Obama’s Marxist/rasist logic)
the mechanism already exists to do it. They can just cut Social Security benefits on the people who have 401k balances.
W/o congress, this won’t happen and it won’t happen during an election year.
The democrats want to take over your 401K...ITS YOUR MONEY:
http://online.wsj.com:80/article/SB122662401729126813.html
That will bring every retiree into the streets....and they vote. Democrats know this would be the death knell for their party in future elections.
There has been chatter about means-testing SS, so you could be quite right.
7 letters! I-M-P-E-A-C-H
When governments want to spend more than they can easily take in via straightforward taxes, they resort to various means to tap private savings. Inflation is one; negative real interest rates (ZIRP, or more generally, keeping interest rates below the rate of inflation) are another. Also included are forced savings plans, capital export controls, hidden user fees, and currency controls (government versus black market rates).
This is yet another scheme to tap accumulated savings. It would create such a ruckus if implemented fully and suddenly that if proposed, it would surely be “phased in.” Even Obamacare was supposed to be (especially after O’s recent executive decisions on implementation) phased in—first the individually insured, then the small businesses, the large businesses, etc.
The whole topic comes under the heading of what economists have termed “financial repression.” That’s a phrase worth googling.
The SS/stock returns comparison is a canard. There are no guarantees on stock investing and big swings, while SS has so far ploddingly delivered its guarantees.
Also, of course, if all that additional SS money had been dumped into the stock market, the market would have been overpriced and returns would have plummeted.
That said, of course Obama and the Democrats want your 401Ks—and all your savings.
If just one Cypriot banker or Government Official had been executed in the town square or at least severely tortured, these little schemes wouldn’t be getting much play.
The next stock market crash.
that can be arranged with just a casual comment on “tapering” by Comrade Yellen
-PJ
W/o congress, this won’t happen and it won’t happen during an election year.”
...BO has done plenty w/o congress.
“Perhaps an inflated stock market that comes crashing down? Frightened Americans who see their savings vanishing might just let the “safety” of Treasury bonds replace diminished savings.”
As opposed to inflation and a decreased value of the dollar reducing the value of their savings.
Better as:
IMPEACH AND REMOVE.
Has anyone here ever received a promissory note from the government for “their” SS?
As Marines, we did NOT swear an oath to the President in the first sentence, we swore it to the Constitution.Our founding fathers made clear distinctions between the 3 powers of government: Executive, Legislative, Judicial.
While the President leads, he has the Congress to enact laws and the Court to make sure the law is upheld.For ANY of those three to go AGAINST the Constitution, that is treason itself.
Bush’s enactment of the Patriot Act was to save our country, while Clinton’s spying on her domestic enemies by acquiring over 1800 FBI files on private American citizens was treasonous, illegal, and laughed away as a silly mistake, Just like Democrats not paying taxes and becoming Treasury Secretary.TO be so bold and blatant against the laws of the country, and to have a political party defend these criminalities is treason in itself.
Our founding fathers gave us the SECOND AMENDMENT for just that reason, that if our government ever became so tyrannical, we the people would have the power to overthrow it if need be, by force, by arms, with guns.
The greatest problem here is the absolute hypocrisy of democrats when it comes to politicians upholding the law. Example: Scooter Libby did NOT reveal Valerie Plame’s name to the media, Democrat Richard Armitage did and the special counsel knew that on the 3rd day of the trial from Robert Novak, yet the Special Counsel pushed and pushed until he found Libby make a mis-statement so he could hang someone in the Bush administration for something.
That is a complete political abuse of power. When we compare the crimes of the Clinton administration against Bush, Bush is a boy scout, yet Bush never prosecuted Clinton for sending missile technology to China in exchange for campaign donations, never prosecuted Clinton for allowing Iran to arm the KLA in Serbia against UN resolutions while the rest of the world was stunned, never prosecuted Clinton for allowing the war against Serbia in the first place since it was the Serbs fighting against MUSLIMS who were slaughtering Serbs that started the whole thing over there.
The list goes on.
It is the Democrats who had over a dozen personnel who were known Soviet Spies in the Roosevelt Administration, proven by the Venona papers;
http://www.conservapedia.com/List_of_Americans_in_the_Venona_papers
The democrats who defended Julius and Ethel Rosenberg for decades after their execution only to have their other spy friend and conspirator, Morton Sobell, admit on his death bed 3 months ago that they actually did it;
http://www.latimes.com/news/opinion/commentary/la-oe-radosh17-2008sep17,0,864776.story ,
And not just nuclear secrets, too, but according to the article cited: “Not only did they try their best to give the Soviets top atomic secrets from the Manhattan Project, they succeeded in handing over top military data on sonar and on radar that was used by the Russians to shoot down American planes in the Korean and Vietnam wars.”
Books have been written about the democrats complicity with Soviet policies and plans by men such as John Stormer,
FDR’s reckless economics and corruption detailed by John Flynn
This dalliance with Communism is also Obama’s favorite topic apparently.
The democrat platform is almost identical to the Communist Party Goals:
http://sweetness-light.com/archive/cpusa-and-obama-platforms-are-identical
The democrats want to take over your 401K...ITS YOUR MONEY:
http://online.wsj.com:80/article/SB122662401729126813.html
Obama supporters flew the Soviet Flag in DC when protesting:
http://www.youtube.com/watch?v=mYwSGRZGoqA
Obama plainly stated that he will allow a company to build a coal plant, but that he intends to cause them such absurd costs to keep it environmentally friendly that it will intentionally bankrupt the company trying to build it:
http://www.youtube.com/watch?v=Hdi4onAQBWQ
Audio of Obama declaring he wants to redistribute the wealth JUST LIKE COMMUNISTS do:
http://www.youtube.com/watch?v=iivL4c_3pck
The Democrats SOCIALISTS had a dinner where Obama was lead speaker:
http://groups.google.com/group/chi.politics/browse_thread/thread/d5d92296fba9a75f/17699d1e87cff10e?lnk=st&q=obama
Internet Archives confirmed Obama was a member of the openly Socialist NEW PARTY of Illinois in 1996:
http://politicallydrunk.blogspot.com/2008/10/web-archives-confirm-barack-obama-was.html
Obama’s economic team says they want to create jobs that intentionally exclude White males:
http://www.youtube.com/watch?v=opxuUj6vFa4
Obama lied to the Illinois Court system when he was asked if he ever went by any other name. His real name was Barry Soetoro in Indonesia:
http://texasdarlin.wordpress.com/2008/08/13/breaking-photo-documents-barry-soetoro-indonesian/
While campaigning in New Hampshire, Obama cancelled the singing of the national Anthem to make room for more ‘speakers’:
http://www.unionleader.com/article.aspx?headline=Obama%3a+%27You+can%20not+let+up%27&articleId=1a7835c3-2468-4e6c-8d56-7253c033232a
Obama clearly said he wants a Civilian Security force as well funded as the Military.
http://www.youtube.com/watch?v=zx2PP4pYGno
That is what every secret police force ever started like in all dictatorships, such as:NICARAGUA Ortega’s “Councils of Citizen Power”; CUBA Fidel’s “Committees For Defense of the Revolution”; PANAMA Noriega’s “Dignity Battalions”; VENEZUELA Chavez’s “Popular Defense Units”; HAITI Papa Doc’s National Security Volunteers, commonly called the Tonton Macoutes; CHINA Mao’s Red Guards; IRAN Ayatollah’s Army of the Guardians of the Islamic Revolution; Soviet Komsomol or “Communist Union of Youth”:
http://www.americanthinker.com/2008/11/obama_fear_and_the_security_fo.html
Recent documents and proclamations of his own President-Elect status show his agenda is similar to Soviet/Nazi history in their control and organization of the youth and the population. The following is a Communist Youth program information found here:
http://www.geocities.com/youth4sa/abern.html
“”Of all other tasks, some of the outstanding ones are outlined. The widest degree of activity of the youth in the class struggles of the day is imperative, it goes without saying. Nevertheless, it would be a decidedly short-sighted and opportunistic approach if the communist youth movement allowed itself to be involved, under pressure or pretexts of all sorts, in all kinds of routine activity, and to be made into a wagging or running tail of other bodies, political, trade union, etc. in order to achieve a name for ”activities”. There are some, perhaps, who believe that this very routine work, doing some of the distasteful work for the adult comrades, is the task of the youth.
But it is in the communist youth organization that the youth (young worker or student) must make their major opportunity to learn thoroughly the fundamental principles and theory of the communist movement, its history, etc. in order really to be prepared for intelligent participation and leadership, at a later period, in the adult organization, the Party. It has to be said plainly that in the adult organization, the opportunities are often too limited for serious and necessary study by the ranks. Lack of time and the need to carry through numberless concrete tasks after working hours are the main reasons therefore. The adult members have to place a great reliance, perhaps too much, on experience and the theoretical back-ground can or should to a large degree be obtained by the youth in the years they are apart of the communist youth organization. This knowledge, coupled with their activities otherwise, will serve as a strong safeguard against opportunism and adventurism.In the above sense, the slogan of Clarity and Action sums up the attitude of the communist youth. While stressing education and class struggle activity, a youth movement, communist or otherwise, cannot live by these alone, especially so if the communist youth organization is to attract the wider strata of the youth to its own banner or around its bona-fide sympathetic auxiliary bodies. Social, sport, and cultural activities need to be systematically developed. The youth movement needs to build its dramatic and musical groups and like mediums which attract the youth. It can be done; who says otherwise needlessly narrows the possibilities for rallying youth elements to the communist cause through diverse methods. Particularly must the communist youth foster a broad workers’ sport movement of which it must be a guiding participant. The insidious and malevolent influence of the bourgeois sport movements, both professional and amateur is immense, and systematic efforts are required to counter-act this influence on the mass of American youth. A general social and cultural life, in addition to the basic tasks outlined before, will tend to attract young workers and students around us. If the new forces are approached sympathetically, made to realize our genuineness, they will either join the communist youth organization, or at least remain sympathetic, even if not ready to accept the entire outlook of communism. Numerous other tasks for the youth can be posed, but space forbids.”
Obama’s campaign clearly tried to silence dissent of any criticism of Obama while claiming his higher moral authority, going so far as to claiming Obama is THE MESSIAH:
http://www.spectator.co.uk/print/melaniephillips/2293196/pinch-yourself.thtml
When visiting troops overseas, Obama refused to meet with wounded troops in Germany and also Afghanistan, something NO responsible politician would ever do, even if he was just pandering for votes, they would have visited the wounded troops:
http://www.spiegel.de/international/germany/0,1518,567821,00.html
http://www.breitbart.com/article.php?id=D924E4KO0&show_article=1
http://www.blackfive.net/main/2008/07/from-gi-in-afgh.html
Obama openly praises a racist pastor whose church he attended for over 20 years:
http://www.youtube.com/watch?v=Fh7xMhsLnac
Obama openly makes racist jokes that his white half will be confused as who to vote for:
http://gawker.com/5070800/bloggy-obama-tells-absurdist-jokes
Obama’s prayer leaders at his inauguration included someone associated with Islamic terror group HAMAS:
http://www.politico.com/news/stories/0109/17562.html
Percy Sutton (Malcolm X’s Lawyer) Says Barack Obama Knows And Was Financed By The Racist Radical Muslim And Saudi Advisor Dr. Khalid Al-Mansour:
http://www.youtube.com/watch?v=MIVO8MZYXo8
There were a number of known, public, and extremely violent terrorist organizations that openly endorsed Obama. Would they have endorsed a Republican Conservative?
http://www.jpost.com/servlet/Satellite?cid=1225199589258&pagename=JPost%2FJPArticle%2FShowFull
Mohammed Al-Churbaji, Dad of Obama Fundraiser, worked for Azzam, Bin Laden.
www.debbieschlussel.com/archives/2008/06/exclusive_who_i_1.html
Obama traveled to Africa and openly campaigned with his cousin, Raila Odinga who lost the election, and whose followers murdered hundreds when he lost and burned down over 100 churches and zero Mosques:
http://africanpress.wordpress.com/2008/08/10/senator-barack-obama-in-kenya-obama-and-odinga-the-true-story/
We are dealing with someone who wants to take over our present system of economics, our present system of civil rights, and even change our Constitution as he plainly said when he said it was a flawed document.In conclusion, we are dealing with a man whose associations include but are not limited to the following:
1.) Kenyan opposition candidates whose followers murdered hundreds when he lost and burned down over 100 churches and zero Mosques.
2.) Domestic terrorists who murdered up to 6 Americans in bombings, robberies, shootings and other murders to include Police Officers and the bombing of civilian houses own and occupied by a Lawyer and family who thankfully escaped death that night.
3.) proven 20 years of association with a racist theologian and the associations that go along with that man and theologian; the standard blame white America first sentiment, regardless of how true it was 150 years ago, the changes made in our own lifetime are disregarded and only demand more.
4.) His own family’s statements of what his supposed moral foundation is and how his own statements declare that he will side with a religion that is historically known to kill their opponents first and refuse to negotiate until their opponents are subdued and begging for mercy
5.) His campaign received millions of dollars that are untraceable to the original donors, and of the millions that are traceable that came from overseas, a FEDERAL CRIME, and how his campaign removed the Credit Card checking of names and account numbers to verify the credit cards were valid
6.) His association with known supporters of Islamic Terrorism, of groups known as Hamas and Hizbullah.
7.) Of his party’s refusal to demand he release his personal records for examination by the American people so as to know the candidate better, while they themselves have a history to demand documents from 40 years ago that pertained to President Bush. His party’s refusal to demand the Military records of John Kerry and the College records of Barak Obama are a part of his political party’s hypocrisy.
8.) The re-introduction of THE FAIRNESS DOCTRINE, a form of censorship written by the Democrats to silence the effects of Talk Radio. NOT ONCE has the Democrat Party ever referred to the massive ideological outnumbering of Liberals to Conservatives in the mainstream media, and only refer to ‘fairness’ when considering Talk Radio and the Internet.
As anyone knows, who has been paying attention, this can only mean Conservative Talk Radio and open Internet communication.Knowing that Obama associate Bill Ayers freely referred to Saul Alinsky, and Knowing that the writings off Saul Alinsky openly promote Communism and radical overthrow, who dedicated his book RULES FOR RADICALS to SATAN only confirms what I call the criminality of this administration.
We all took a vow to protect and defend the Constitution of The United States of America, Against ALL Enemies, Foreign and Domestic...Will Obama be a Patriot after all or an enemy of the Constitution is a sad question that the informed can only be saddened to think of the answer.
So, just what is treason then? Overthrowing our entire economic system to one that is proven to have failed worldwide is treason? or Americanism?
Submitting to and apologizing to Islamic terrorists who have repeatedly threatened to KILL US, ME AND YOU if we don’t become Muslim? Is that Treason? or Americanism?
Taking ALL YOUR MONEY in the bank to be kept by the government to use as the government sees fit, is that treason or Americanism?
Jim Bancroft Feb 3, 2009
USMC 1977-1981
If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves. WINSTON CHURCHILL
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