Yeah, I’m a horrible, horrible, mean, greedy capitalist.  I won’t share the wealth.  I am a mean, evil bitch, because I believe that money I earned while working two jobs, raising two kids and going to school and saved so that I wouldn’t be a burden on said kids when I’m old, feeble and in dire need of an adult diaper, should belong to me.  I know it’s horrible of me to say, because there are people out there who don’t save for their retirement and spend their money on big-screen TVs, new cars, clothes, etc.  There are people out there who don’t go to school, don’t bother bettering themselves and don’t bother acting responsibly with their money.  As a kind, altruistic person, I should want to share my wealth, I should be happy that the government is concocting up ways to steal my earnings and redistribute them to others.

Democrats in the U.S. House have been
conducting hearings on proposals to confiscate workers’ personal
retirement accounts — including 401(k)s and IRAs — and convert them to
accounts managed by the Social Security Administration.

Confiscate.  Appropriate by the government.  Deprive of property.  Steal. 

This is no longer a pithy little catchphrase about helping everyone.  This is theft, pure and simple.  This is YOUR government, whom YOU elected, telling YOU that they will take what YOU earned away from you, take away your freedom of choice as to what to do with your property, give it to an inept government bureaucracy to mishandle and hand out to those who haven’t earned it.  This isn’t funny, and it isn’t noble.  It’s criminal.

Triggered by the financial crisis the past two
months, the hearings reportedly were meant to stem losses incurred by
many workers and retirees whose 401(k) and IRA balances have been
shrinking rapidly.

Obviously, you can’t be trusted to wisely invest your money, and the free market can’t be trusted to “protect” your earnings.  But a gargantuan federal government that bungled Katrina and couldn’t even make a profit selling booze and hookers – two commodities that are always in demand – is more qualified than you are to manage your retirement and the retirement of millions of others..

But apparently they think they’re more qualified to guard your earnings than you are.

The testimony of Teresa Ghilarducci, professor
of economic policy analysis at the New School for Social Research in
New York, in hearings Oct. 7 drew the most attention and criticism.
Testifying for the House Committee on Education and Labor, Ghilarducci
proposed that the government eliminate tax breaks for 401(k) and
similar retirement accounts, such as IRAs, and confiscate workers’
retirement plan accounts and convert them to universal Guaranteed
Retirement Accounts (GRAs) managed by the Social Security
Administration.


This communist cunt talks about confiscation – STEALING – like it’s some big government favor to you and yours.  My retirement accounts currently lost about $1000.  Considering the multi billion dollar losses sustained by retirement plans this past year, my losses are relatively minor.  I can handle my own money, but apparently this thieving bitch doesn’t think so.  She thinks appropriating what I have and giving it away to those who may not have made the same sound financial decisions I have is noble – and somehow doing me a favor!

Ghilarducci’s plan first appeared in a paper
for the Economic Policy Institute: Agenda for Shared Prosperity (You’ll need Adobe reader to get the full, twisted sickness of this plan) on Nov.
20, 2007, in which she said her government-controlled accounts will “rescue” the flawed American
retirement income system.  Shared prosperity.  This should tell you volumes right there.  She’s a looter – nothing more.  She’s someone who thinks the government should control your life, using the resources that you created to do it.

Structure. Guaranteed Retirement Accounts are like universal 401(k) plans except that the government, as befits a large and enduring institution, will invest and manage the pooled savings.

Participation. Participation in the program is mandatory except for workers participating in equivalent or better  employer defined-benefit plans where contributions are at least 5% of earnings and benefits take the form of life annuities.


The rest of this 20-page blueprint for theft and income redistribution is filled with similar Marxist tripe. This thieving bitch claims that it’s not fair that the “wealthy” get to save up more for retirement than the poor.  After all, it’s easier for them to save, and that creates income inequality.  So, her plan is to grab everyone’s retirement savings by force, stick them into one huge pot administered by the government, and have the government dole out money once you’re ready to retire.  So those who work and sacrifice to save for their golden years each month will pool their money with everyone else and the government will then dole out equal amounts, regardless of how much you contribute to the pool.  From each according to his ability; to each according to his need.

All workers would have 5 percent of their
annual pay deducted from their paychecks and deposited to the GRA. They
would still be paying Social Security and Medicare taxes, as would the
employers. The GRA contribution would be shared equally by the worker
and the employee. Employers no longer would be able to write off their
contributions. Any capital gains would be taxable year-on-year.



Analysts point to another disturbing part of the plan. With a GRA,
workers could bequeath only half of their account balances to their
heirs, unlike full balances from existing 401(k) and IRA accounts. For
workers who die after retiring, they could bequeath just their own
contributions plus the interest but minus any benefits received and
minus the employer contributions.


Are you understanding now what you have elected, people?  Do you now understand what you have put into power?

It doesn’t matter that I sacrifice each month to put a certain amount into a retirement account.  It doesn’t matter that I work two jobs and go to school – all to better myself and achieve bigger and greater things.  What I earn will be confiscated and redistributed.  What I earn will be taken away, and I’ll only get a portion of it.  The rest will be given to those who didn’t work as hard, earn as much, succeed as well or save as prudently as I have.

But setting aside the moral implications of this legalized theft, such a system can’t survive long.

On Oct. 22, The Wall Street Journal
reported that the Argentinean government had seized all private pension
and retirement accounts to fund government programs and to address a
ballooning deficit. Fearing an economic collapse, foreign investors
quickly pulled out, forcing the Argentinean stock market to shut down
several times. More than 10 years ago, nationalization of private
savings sent Argentina’s economy into a long-term downward spiral.



According to Wikipedia, the Social Security Administration’s authority to make benefit payments
as granted by Congress extends only to its current revenues and
existing Trust Fund balance. Therefore, Social Security’s ability to make
full payments once annual benefits exceed revenues depends in part on
the federal government’s ability to make good on the bonds that it has
issued to the Social Security trust funds. The federal government’s
ability to repay Social Security, in turn, is contingent on fiscal
policies taken today (which have tended to increase deficits and the
percent of the budget spent on interest and principal payments) and in
the future.

And with a balooning deficit and increasing government spending, brought on by yet more bailouts (read: handouts of taxpayer dollars to miserable failures), is it any wonder that the government now needs money?

And here’s what’s scary:

The majority of witness testimony during recent
hearings before the House Committee on Education and Labor showed that
congressional Democrats intend to address income and wealth inequality
through redistribution.



On July 31, 2008, Robert Greenstein, executive director of the Center
on Budget and Policy Priorities, testified before the subcommittee on
workforce protections that “from the standpoint of equal treatment of
people with different incomes, there is a fundamental flaw” in tax code
incentives because they are “provided in the form of deductions,
exemptions, and exclusions rather than in the form of refundable tax
credits.”



Even people who don’t pay taxes should get money from the government,
paid for by higher-income Americans, he said. “There is no obvious
reason why lower-income taxpayers or people who do not file income
taxes should get smaller incentives (or no tax incentives at all),”
Greenstein said.



“Moving to refundable tax credits for promoting socially worthwhile
activities would be an important step toward enhancing progressivity in
the tax code in a way that would improve economic efficiency and
performance at the same time,” Greenstein said, and “reducing barriers
to labor organizing, preserving the real value of the minimum wage, and
the other workforce security concerns . . . would contribute to an
economy with less glaring and sharply widening inequality.”



When asked whether committee members seriously were considering
Ghilarducci’s proposal for GSAs, Aaron Albright, press secretary for
the Committee on Education and Labor, said Miller and other members
were listening to all ideas.


You voted for this, you noxious, thieving ignorami.  You voted for power-hungry, authoritarian swine who will take away what you earn, who will stomp out achievement and take away incentives for hard work.  You put them in power – those who will destroy your successes and reward failure with the resources you create.  Is this what you wanted?  Because these are the logical consequences of what you espouse.

When you take away by force the product of what was created by the blood, sweat and tears of those who saw it their mission in life to achieve and create, and give it to those who haven’t earned it, the incentive for success, for quality, for achievement and pride you take in that achievement is cheapened and destroyed.  Why should they work themselves bloody for you, who couldn’t match their achievement and wouldn’t expend the effort to do so? 

Do you understand the moral implications of what you empowered?  Do you even see how evil it is?

YOU voted for this, because you thought it was noble for those who could to prostrate themselves at the altar of incompetence and subjugate themselves to those who couldn’t or wouldn’t.  YOU voted for this because some twisted, sick thing inside you told you that it was honorable to force the producers and achievers of this nation to immolate themselves before the thieving and the inept.

What will you do when they’re all dead, you looting fucks?  What will you do when there’s no one left to steal from and when every last drop of blood and effort is drained from the productive?  Whom will you sacrifice next?

Bastards!  Unimaginable bastards!