Stealing the 401(k) Accounts
Uh oh; our friends at freerepublic.com are in a tizzy. Yes, the Freepers-- those good and true Americans who pray for George Bush every day and hate Ron Paul-- they're REALLY upset this time. It seems our Democratic leaders have come up with a new plan to steal 401(k) accounts, and the Freepers aren't going to stand for it! They're shocked-- shocked I tell you-- that our government could stoop so low as to expropriate private property like that. Of course it's all the fault of those evil communist Dems; no good Republican/American would do such a thing.
Some of us, however, remember the great social security rescue of the 1980s. Political commentators and so--called leaders in Congress began to point out in those days that their beloved social security scam was soon to run out of money. The solution? A massive tax increase, of course. The grand effort was spearheaded by Bob Dole (R), and if you go to his website today you'll see that the Dolester still touts this gigantic tax theft as his proudest moment in public life. Freeper hero Ronald Reagan applauded the theft effort every step of the way, and the net result? Washington DC had a new cookie jar to plunder. Every year since the Dole/Reagan theft tax of the 1980s our Congress has drained off the retirement money to fund their favored political projects of the moment. The social security "trust fund" owns nothing but worthless government paper-- all the money's been spent. Of course looting retirement funds is a well practiced scheme of governments worldwide, and there should be nothing surprising about this latest Democrat plan to steal "private" 401(k) accounts. It's business as usual for our faux leaders, and the only interesting part of this story is how Freepers can be confounded over and over again when the DC criminals pull off their same old tricks under new guises.
Besides, our DC Dem leaders have a very recent precedent for their proposed action. Argentina! Yes, our great neighbor to the south has shown us the way to a better future. Just this past week our good friends in Buenos Aires stole the private pension accounts in that proud country-- so why not here? All nations and cultures are equal after all (aren't they?), and stealing pension accounts offers a pragmatic and practical "third world" solution to that annoying problem of global Regime insolvency. So I say welcome to the America we live in, Freepers. An America built on the legacy of your grand heroes, Ronald Reagan and the Bushes. Perhaps you Freepers might remind yourselves from time to time that Reagan, Bush and Bush are the three presidents primarily responsible for creating our massive federal debt-- $1 trillion when the Gipper took office; $11.3 trillion today. Let's remember some basics: these three presidents bankrupted America-- and our Freeper colleagues were standing with them (and against Ron Paul's philosophies) every step of the way.
- Rick Williams's blog
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I know someone who lost 40K out of his 401K he worked for a banking company out of So Cal. It's really happening people. If you work in an industry that could be affected don't think twice about pulling your money! DO IT!
the cruelest tax of all. As the guvment prints more and more fiat green pieces of paper they depreciate the value. What's this mean? You'll pay more (LOTS MORE) for the items you buy. Sure some prices go down like Ipods and such, but that just fools people into thinking there is no inflation. For real products like bread, butter, and milk...there's inflation alright, PLENTY OF IT!
http://www.msnbc.msn.com/id/26948081/page/2/
The interest rate that the Detroit Three are paying on their $25 billion bail-out loan is nothing more than the cost of inflation!
Guv-mnt could have charged 6% or 7% at least...
(I want a 5% bail-out loan too!)
of this article makes me smile :-)
"A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor and bread it has earned - this is the sum of good government."
-Thomas Jefferson