Redistribution of wealth.
Coming soon to a hard worker like you!
RALEIGH — 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
AdministrationPlease visit the link provided for the complete story.
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.Please visit the link provided for the complete story.
Ghilarducci’s plan first appeared in a paper for the
Economic Policy Institute: Agenda for Shared Prosperity on
Nov. 20, 2007, in which she said GRAs will rescue the flawed
American retirement income system
).Please visit the link provided for the complete story.
Can you say welfare state??
Click for the whole article
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.Please visit the link provided for the complete story.
I want to keep the money I worked so hard for, I do NOT want
to have it forcibly taken from me and "redistributed"
to someone who didn't work for it just so we all have equal
amounts. Heres why socialism doesn't work.
Joe worker works hard every day and makes a decent living
Joe saves and only buys what fits his budget, and keeps
going to work with a drive to succeed and to provide.
Bob has no job but he is honestly trying to find work.
The Government steps in and says it's not fair that Joe has
all these things and yet Bob is having a hard time
making ends meet so the government decides it's only fair
to take a percentage of Joes' hard earned money and "redistribute" it to Bob. Joe does not agree to this but he
was never asked for his input, so a part of Joes check is
"stolen" and given to Bob.
Joe keeps working because he has to support his family.
Bob now has the money to support his and decides to spend
more time with his kids.
Joe takes a second job to replace what was "redistributed"
to Bob. Because of this Bob now recieves more of the money
that Joe worked for and Bob buys a new TV for his family.
Bob loses the ambition to look for work because he is living
comfortably. Bob is now fully dependant on the government.
Joe is Bobs neighbor and has observed this cycle. Joe wants
what Bob has so he quits his job and joins Bob for afternoon
cook outs, their kids play together and they happily recieve
the government handout that is now paid for by Susan. Susan
has just taken a second job to replace the percentage of her
income that was "redistributed".....
This scenario is only one of the reasons why socialism
Even people who don’t pay taxes should get money from
the government, paid for by higher-income Americans, he said.