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Gov Considering Seizing Private Pension Funds

Danube

Banned
Dec 10, 2009
613
0
0
The Republicans sent out a letter opposing any gov takeover of pension plans. I don't know if the Gov would be crazy enough to do this (I suspect "yes") or if GOP is getting ahead of itself.




The entirety of the House GOP Savings Recovery Group letter outlining the issue that was sent last night to the Labor and Treasury secretaries:

The Honorable Hilda L. Solis
Secretary
U.S. Department of Labor
200 Constitution Avenue, NW
Washington, DC 20210

The Honorable Timothy Geithner
Secretary
U.S. Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, DC 20210


Dear Secretaries Solis and Geithner:


As members of the Republican Savings Solutions Group, we write today to express our strong opposition to any proposal to eliminate or federalize private-sector defined contribution pension plans, such as 401(k)s, or impose burdensome new requirements upon the businesses, large and small, who choose to offer these plans to their employees....

The rest is here:

Republicans Sound Alarm on Administration Plan to Seize 401(k)s
http://www.humanevents.com/article.php?id=36823



Pension plans were seized in Argentia not long ago

Argentina seizes pension funds to pay debts. Who's next?


"Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash."

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/5504137/Argentina_seizes_pension_funds_to_pay_debts_Whos_next/
 
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cubeless

Diamond Member
Sep 17, 2001
4,295
1
81
my bucket list will be anyone who votes 'yea' on that bill...

but can you imagine how many people will quit their jobs for a day to cash out 401k's if this were to happen? they would have to freeze all of them the day the vote happens...

i can see them 'absorbing' private defined benefit pensions first... except for labor unions and gov't workers, of course...
 

Slew Foot

Lifer
Sep 22, 2005
12,381
94
86
The day they do that is the day the pitchforks come out. Not even Obama is dumb enough to do that, is he?
 

frostedflakes

Diamond Member
Mar 1, 2005
7,925
1
0
The day they do that is the day the pitchforks come out. Not even Obama is dumb enough to do that, is he?
Agreed. There's a lot of shit the government does that people don't like and just put up with, but I doubt that would be the case if they tried to pull a stunt like this.
 

Jhhnn

No Lifer
Nov 11, 1999
62,345
14,566
136
Republicans will reek of fear and fearmongering by the time november gets here... this little stinker is only the beginning...
 

cubby1223

Lifer
May 24, 2004
13,518
42
86
Would this be like Social Security on steroids? Can't wait!

"Progressives" have been floating this idea around for some time. They'll spin it as usual, the free market failed us when our pensions and 401k's values tanked as the stock market tanked. Of course only the federal government has sufficient resources to protect working class America. This administration and the media will joint market this as "Main Street's bailout" and declare anyone who opposes this as against America's workforce.
 
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Moonbeam

Elite Member
Nov 24, 1999
67,523
4,198
126
We need regulations on washing the American flag. Great care must be taken that the red doesn't bleed into the white creating any commie pinko hues.
 

Cheesetogo

Diamond Member
Jan 26, 2005
3,811
0
76
This really just seems like a PR tactic by the GOP. I can't imagine that any politician would really be stupid enough to suggest this. Much less the whole democratic party. It's suicide.
 

bob4432

Lifer
Sep 6, 2003
11,647
19
81
This really just seems like a PR tactic by the GOP. I can't imagine that any politician would really be stupid enough to suggest this. Much less the whole democratic party. It's suicide.
kind of like forcing a healthcare bill down our throats that nobody wanted, don't cover the problems, add to the debt substantally and really hasn't even been fully read even now? you really don't think they would do this? why wouldn't they?

i say both sides are pretty fucked up, and at this point in time, i wouldn't take anything off the table to see what side can go fuller retard. :twisted:
 

Jhhnn

No Lifer
Nov 11, 1999
62,345
14,566
136
Democrats in congress have been floating this idea ever since Obama's inauguration, it just hasn't been a topic of conversation in the media for a while.
When a GOP letter and a blog aren't enough, add unsubstantiated rumor, accusation and innuendo to round out the "evidence"... pretend that the GOP spin machine isn't pandering to Seniors' fears with dog whistle politics...
 

Kappo

Platinum Member
Aug 18, 2000
2,381
0
0
When a GOP letter and a blog aren't enough, add unsubstantiated rumor, accusation and innuendo to round out the "evidence"... pretend that the GOP spin machine isn't pandering to Seniors' fears with dog whistle politics...
You remind me of the people who were screaming "just see what happens" about healthcare. "Wait until they pass it to see if you like it!".

Yet ANOTHER example of "progressives" not looking into the future.
 

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