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Obama Begins Push for New National Retirement System
#1
Quote:Obama Begins Push for New National Retirement System

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.

"This hearing was set up to explore why Americans are not saving as much for their retirement as they could," explains National Seniors Council National Director Robert Crone, "However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up."

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people.

She demanded the Obama administration set up a "government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation)." She proclaimed that even "private annuities are problematic."

Such "reforms" would effectively end private retirement accounts in America, Crone warns.

"These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own.

The Government could then take these trillions of dollars and redistribute it through this new national retirement system."

Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich.
He also appears to be one of the Administration’s point man on this issue.

"This whole issue is moving forward very quickly," warns Crone. "Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account.

If this passes, the government will be just one step away from being able to confiscate all these retirement accounts."

NSC has taken the lead in warning the nation about this new government onslaught and is plotting ways to stop it.

"This effort ultimately is designed to grab the retirement nest eggs of America’s senior citizens.

This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America’s older citizens," explains Crone.

"This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too."

NSC will likely unveil a new grassroots campaign effort later this year or early in January to coincide with the seating of the new Congress.

http://www.nationalseniorscouncil.org/in...ce=message
It's the "BILL OF RIGHTS" not the bill of "needs"
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#2
While I don't doubt for a second that the Dems are eying some type of confiscation of private retirement funds for the "greater good", this story is not new. At the bottom is says (Originally posted 10/13/10).
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#3
I pitty all the people that have IRA's and 401K plans. It was just a matter of time before this would happen because it was already clear 4 years ago that Obama wanted the poor to benefit from other people's money. He doesn't give a rats ass whether you worked for that your whole life or not........he wants to spread the wealth.

In short..........you work your ass off and welfare people cash in on it.
"The colors, the colors. Has anybody seen my good friend John?" Then he lit up a banana and he hung up.

Al Bundy.
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#4
If it passes, I hope he takes the boomers money first, since they...by way of AARP...endorsed him fully.

Saw this morning that Obamacare is about to rape the Medicare that AARP claims Ryan was after.
Vampire pig man since September 2012
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#5
Open Wiiiiiiiiiiide.
"The colors, the colors. Has anybody seen my good friend John?" Then he lit up a banana and he hung up.

Al Bundy.
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#6
D10;43086 Wrote:Open Wiiiiiiiiiiide.

You mean.... ?
[Image: o03tcx.jpg]
The Second Amendment does not GIVE us the right. It tells the gov they can not infringe our right.
[Image: s2b0iw.jpg]
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#7
Camper;43084 Wrote:If it passes, I hope he takes the boomers money first, since they...by way of AARP...endorsed him fully.

Saw this morning that Obamacare is about to rape the Medicare that AARP claims Ryan was after.

As a baby boomer I can tell you not all of us voted for that scumbag. It was only AARP that endorsed him, just like the unions endorsed him, but I will bet that not all members wanted Obama reelected.
cgbudde, proud to be a member of pa2a.org since Sep 2012.
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#8
kadar;43097 Wrote:You mean.... ?

I mean that they will cram so much crap down your throat that you will be blue in the face.
"The colors, the colors. Has anybody seen my good friend John?" Then he lit up a banana and he hung up.

Al Bundy.
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#9
cgbudde;43100 Wrote:
Camper;43084 Wrote:If it passes, I hope he takes the boomers money first, since they...by way of AARP...endorsed him fully.

Saw this morning that Obamacare is about to rape the Medicare that AARP claims Ryan was after.

As a baby boomer I can tell you not all of us voted for that scumbag. It was only AARP that endorsed him, just like the unions endorsed him, but I will bet that not all members wanted Obama reelected.

Yep, careful with those assumptions, Camper. There's a boatload of us "boomers" who did not vote for BHO the first OR the second time. AARP climbed into bed with him because they thought it would be better to suck up to him than to fight him, as did many of the fools who voted for him then and now.

Well, the whole country is gonna find out how that'll work out. Those BHO fans will suffer right along with the rest of us. It will NOT end well for anybody.

Do I think this is going to happen? Maybe not as soon as the moonbats think it will, but it's no mystery to me why my employer is now required to report the value of my employer-provided health care benefits on my W-2.
I don't suffer from insanity.
I enjoy every minute of it.
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#10
I rescind my comments, cgbudde and half track. I do know all of you don't want him, it's just frustration talking.

I'm planning my retirement now for 20+ years out and am tired of worrying about our government taking what I have.
Vampire pig man since September 2012
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