The attached PDF file show a study done on what the government has in store for our retirement accounts.
There are three areas the government can go to get access to additional revenue:
Gold confiscation, (Look up what FDR did in 1930s, also see other postings, earlier today, for 2010 version)
Property confiscation (What percent of home loans do you think the government now controls? almost 90%, yeah that’s right!), or
Retirement account confiscation. (Next up…)
The Government has a problem. It is growing so fast it can’t sustain itself. The average public federal employee is paid $120k, where the private employee is paid $60k on average. But he is paying for the federal employee. Also, there is a rise in unemployment to almost 17% if you consider those that have given up. But the Federal Government has lost zero jobs, they have actually been adding.
The paper sums it up well:
“But it (the government) has a very serious problem. It can’t sustain itself – let alone keep growing – on the back
of the existing tax base.”
On top of that there are two other areas of pain looming on the horizon:
– The US “AAA” credit rating is hanging by a thread. (If we lose this, the interest on our debt we are financing goes through the roof.)
– The foreign investors (mostly China & Japan) are balking at buying anymore debt. (Uncle Sam is seen as riskier than blue chip firms now – Washington Post.)
Solution?
The biggest source of hereto largely untapped revenue for US politicians is private retirement accounts.
60 million households
401k – $4 trillion
include 403b’s, HSA, IRAs & others – $15 trillion
It may not happen suddenly (like in Argentina), but prerequisites are already being readied for implementation.
Here are some quotes from the paper linked below:
The 40l(k)/IRA de-privatization plan is the brain-child of one of the left’s rising stars, the
bright and inventive leftwing academic Teresa Ghilarducci. While Ghilarducci insists 40l(k)s will still
be “legal” under her plan, the thrust of her idea was revealed on a 2008 radio interview in which she
said, “I’m just rearranging the tax breaks that are available now for 40l(k)s and spreading – spreading
the wealth…”
Just rearranging (nudging) the tax breaks available now to spread…wait for it…the…wealth…
In a 2009 research paper, Ghilarducci declared “Guaranteed Retirement Accounts [GRAs] are
like universal 401(k) plans except that the government, as befits a large and enduring institution, will
invest and manage the pooled savings.” That’s because, as the professorial Ghilarducci believes,
“Humans often lack the foresight, discipline, and investing skills required to sustain a savings plan.”
(Of course, that analysis of “humans” would not apply to left-leaning PhDs, members of Congress, and
bossy bureaucrats – who somehow are endowed with the skills needed to manage everyone else’s
investments.)
Wow, guess we know where we rank. Good think they are there to serve the people…on wait, that doesn’t match…
Under the Ghilarducci Plan, 50% of your GRA automatically goes to the government upon
your passing, not your heirs. And that’s just for starters. Future tax deferments to 401(k)s and IRAs
would be scrapped in exchange for a supposedly guaranteed 3% annual real return.
Hmm, give up total control to get guaranteed 3% annual real return. And they get half when I die…sounds fair.
Backers of government-controlled accounts stress that 401(k)s will still be “legal” under her
plan – yet if 401(k)/IRA tax advantages are removed, employers will no longer have a financial
incentive to offer them at all. (All part of an active “herding” process to force private retirement funds
into government-approved “investments.”)
Again with the nudging, or is that a shove, maybe even a take down…
Sorry for the sarcasm, but this is really incredible. The gall to make some of these statements and bold recommendations. You really need to download the document and read it in its entirety. It is very eye-opening.
Again, this is all part of the control needed for the three end time prophecies:
One World Currency
One World Government
Mark of the Beast (total control of buying and selling)
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Administration’s Secret Plan to Hijack Your 401(k)s and IRAs
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PDF Document: Obama_Administration_401Ks
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Click on the article title for a link to full original referenced article.
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