Confiscation of Private Retirement Accounts: US Departments of Labor and Treasury Schedule Hearing!

reply to post by ziggy1706


Ziggy, American-Soviet,
People seem to forget that we are NOT a Democracy but a Republic. Our founders knew that a Democracy is not a form of government that will endure. We are, however, governed by a 'democratically' elected House and Senate that is part of a Republic government by the people. This has been bastardized continually by those that know that by using trickery and deception they can, and have, fooled the majority into thinking the citizenry are governed rather than being the true governing body. Until the people of this country start actually taking an interest and forcing the goals of a true Republic citizenry, we will continue down this road of government thinking they can confiscate the wealth of those that make this country work. Government produces nothing. They consider themselves the Elite and have the right to do whatever comes to mind. This little fiasco they seem to b planing will come back to bite them squarely in their butts in more ways than they have ever considered!

Zindo

reply to post by American_Soviets


Exactly right, and makes a great point as to why the Health Care Bill is unconstitutional.
The States will bear the burden, and in the mean time the Feds will gain more power. Kind of makes me think that is part of the plan eh?
reply to post by ZindoDoone


Zondo, Thanks for setting it straight, as you said The U.S. is still a Republic.


An overgrown Federal Goverment is not the product of capitolism, as some imagine.

Still searching for more news on this

Alarms went off. In February, former House Speaker New Gingrich and policy analyst Peter Ferrara warned in our "On The Right" column that "Washington is developing plans for your retirement savings."

"The idea," they said, "is for the government to take your retirement savings in return for a promise to pay you some monthly benefit in your retirement years.

"They will tell you that you are 'investing' your money. ... But they will use your money immediately to pay for their unprecedented trillion-dollar budget deficits, leaving nothing to back up their political promises, just as they have raided the Social Security trust funds."

,www.investors.com...

and also the Wall Street Layoffs...

According to Whitney, as revenues dry up, firms will have no choice but to undertake drastic measures. "The key product drivers of Wall Street's revenues and profits over the past decade have been in a structural decline over the past three years," she said. "2010 marks the first year in many in which Wall Street-centric firms will go through structural changes."

Those "structural changes" are associated with fixed-income trading, an area that's expected to nosedive after a boom.

Whitney says the adjustments will occur after 2010 compensation packages are given out.

www.fins.com...