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megimoo
11-01-2010, 04:27 AM
Unions Target Your Private Retirement Savings (401K)

Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that.

On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on "Retirement (In)security in America." Among the proposals discussed was "Guaranteed Retirement Accounts," or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts

http://www.washingtonexaminer.com/opinion/columns/Unions-target-your-private-retirement-savings-1398118-106409193.html

warpig
11-01-2010, 05:00 AM
Our money and how we spend or invest it is not anyone's else' s business. Especially an entity that would offer such a weak product.

Nubs
11-01-2010, 08:07 AM
The conversion of private retirement funds to government backed annuities combined with intentional inflation is a mechanism by which the government can retire the national debt.

warpig
11-01-2010, 09:30 AM
The conversion of private retirement funds to government backed annuities combined with intentional inflation is a mechanism by which the government can retire the national debt.

so can reduced government spending. This is my money they have no right to it.

Nubs
11-01-2010, 09:45 AM
I'm not sayinf it's right. If they try to touch my 401(k), there will be hell to pay. I merely wrote my reply as it has been done before in Britain. There is precedent.

Teddy Kennedy
11-01-2010, 09:48 AM
so can reduced government spending. This is my money they have no right to it.

Obama is looking to the Brrazil model. If the unions want it, the unions have a good shot at it. But this one is not gonna happen. It is your money, but the rub is is that obama thinks it's his.

lacarnut
11-01-2010, 11:28 AM
The conversion of private retirement funds to government backed annuities combined with intentional inflation is a mechanism by which the government can retire the national debt.

This is not too far fetched. Ex Gov of LA, Buddy Roemer (R) tried to withdraw all the funds in the state 401 & 457 system. The legislature shot that stupid idea down. One day that might happen on a national level. Trillions of dollars are in retirement accounts. One day we might have the option to buy Chinese bonds.

Nubs
11-01-2010, 12:19 PM
so can reduced government spending. This is my money they have no right to it.

The way our government is currently operating is that they have no right to it until they say they do.

So get out Tuesday and vote to stop or slow down the assholes. Remember the goons in charge still have power till January, who knows what crazy shit they will pull in the next 3 months.