The government is preparing to seize the private 401(k) pensions of millions of Americans while enforcing an additional 5 per cent payroll tax as part of a new bailout program that will empower the Social Security Administration to redistribute pension funds in a frightening example of big government gone wild.
Public pension plans have been so aggressively looted already by the government that cities and counties face a $574 billion funding gap, according to a CNBC report.
That black hole is set to be filled by a new proposal that will “fairly” distribute taxpayer-funded pensions to everyone, by confiscating the private wealth of millions of Americans. Its proponents express staggering arrogance in thinking that they can just steal money people have worked for decades to accrue as if it’s their own.
Not only would the government confiscate 401(k) pensions, it would also impose a mandatory 5 per cent payroll tax payable by everyone, according to a hearing chaired last week by Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee.
“This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending,” writes Connie Hair.
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11 comments:
Over my dead body!!
I will tell you this , I pray every day for a revolution to stop this mad man obama and Pelosi.
I use to think that if obama were missing in action things would get bad , now I think the oposite. Let it roll!!
9:39
There is nothing you can do about it. except close out the fund.
This was proposed over 18 months ago and no one noticed it. Wake up, people!
Where ARE these delusional IDIOTS who keep screaming that the ones who complain about creeping socialsim are "fearmongers" and "hysterical" or "academically dishonest" or Fox News fanatics? HUH? When the government forcibly takes MY money that I have saved and sacrificed for and claims it as their own in order to give it to others who HAVE NOT SAVED or planned or made any sacrifice at all, the WHAT term do you apply to THAT action?? How much does this government get to do before we have a "million man march" of armed and angry citizens to forcibly throw these thieves and usurpers and pretenders out on their butts? They have stood by as Americans have lost their jobs, their homes, their health care, their pensions, their accumulated stocks and bonds, and now they want to CONFISCATE whatever is left of our 401(k)'s that they didn't finish plundering several years ago??? WHERE is the citizen outrage?? Where ARE the "this isn't a march toward socialism" imbeciles?
It will be time for the REVOLUTION to begin if this takes place. The first ones on the list will be those who propose and pass it. There will be no descrimination there. I served my country once and i will fight again against those who are trying to pilage it!
Is that not stealing? So then we can have them all arrested. Right?
Stop serving your country and begin serving your family and close friends.
There is no country left!
Hey folks your "money" is debt. the script clearly says at the top "Federal Reserve Note". The money itself is debt! YOu don't own it.
It belongs to the private federal reserve bank. It is fiat currency and has no intrinsic value.
Try saving food, water, clothing, supplies, and a little bit of real money. Real money is gold, silver, jewelry, etc.
The Remington is more accurate than you think at very long distance.
12:25, nice try, but they are in charge of who will be arrested! DUH!
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