- Jan 31, 2005
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More socialization ladies and gents. Love those Socialists...errr...Democrats.
They want to give you your healthcare, your retirement, your identification...Everything. The government wants to own you lock stock and barrel.
And they will, damned soon.
Link
George Miller Proposes Socializing 401(k)s
House Education and Labor Committee Chairman George Miller (D-CA) is holding a hearing today entitled, "The Impact of the Financial Crisis on Workers' Retirement Security."
In reality, it's a dog-and-pony show to advocate for the nationalization of 401(k) plans. The theory is that workers are too stupid to manage them ourselves, so we need to have the government do it for us.
Don't believe me? Here's what Dr. Teresa Ghilarducci, one of the star witnesses, had to say :
Going forward, I propose Congress establish universal Guaranteed Retirement Accounts and the federal government deposit $600 (inflation indexed) in those Guaranteed Retirement Accounts every year for every worker. Every worker (not in an equivalent defined benefit plan) would save 5% of their pay into their Guaranteed Retirement Account to which the government pays a 3% inflation-indexed guaranteed return. Workers would earn pension credits based on these accumulations.
They want to give you your healthcare, your retirement, your identification...Everything. The government wants to own you lock stock and barrel.
And they will, damned soon.
Link
George Miller Proposes Socializing 401(k)s
House Education and Labor Committee Chairman George Miller (D-CA) is holding a hearing today entitled, "The Impact of the Financial Crisis on Workers' Retirement Security."
In reality, it's a dog-and-pony show to advocate for the nationalization of 401(k) plans. The theory is that workers are too stupid to manage them ourselves, so we need to have the government do it for us.
Don't believe me? Here's what Dr. Teresa Ghilarducci, one of the star witnesses, had to say :
Going forward, I propose Congress establish universal Guaranteed Retirement Accounts and the federal government deposit $600 (inflation indexed) in those Guaranteed Retirement Accounts every year for every worker. Every worker (not in an equivalent defined benefit plan) would save 5% of their pay into their Guaranteed Retirement Account to which the government pays a 3% inflation-indexed guaranteed return. Workers would earn pension credits based on these accumulations.