Now Obama Wants Your 401K!

Now Obama Wants Your 401K!

Posted in the Pittsfield Forum

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HellerCarbonCapN TradeLLC

Alexandria, VA

#1 Nov 1, 2010
This is no joke and as serious as a heart attack!
Jim O

Troy, NY

#2 Nov 1, 2010
Oh Yeah...I just chased Obama out of my yard...he was trying to steal my 401 k AND my pet Chihuahua. I just don't trust this guy and may not vote for him next time.

Jim O'reilly
cbb

Bolton Landing, NY

#3 Nov 1, 2010
HellerCarbonCapNTradeLLC wrote:
This is no joke and as serious as a heart attack!
\

GM,

What's the story or link?
Hope and Chains

Chatham, NY

#4 Nov 1, 2010
Here ya go cbb this is what I found on the subject:

http://www.thenewamerican.com/index.php/usnew...

If that don't scare ya for Halloween. How 'bout 1% tax on all banking transactions to pay for Washington's dept?

Meet HR 4646

http://america-wake-up.com/2010/10/25/hr-4646...
HellerCarbonCapN TradeLLC

Alexandria, VA

#5 Nov 1, 2010
Remember, a vote for Liberal Democrat John Olver tomorrow is a vote for Obama not only to take over your 401K eventually, but also to raise your taxes substantially on Janury 1, 2011.
HellerCarbonCapN TradeLLC

Alexandria, VA

#6 Nov 1, 2010
From Rush 'The Entertainer' Limbaugh's radio program today:

"Huge See, I Told You So from 2008: Democrats Try To Take Your 401(k)"
November 1, 2010

BEGIN TRANSCRIPT

RUSH: Rio Rancho "Huevos," New Mexico, this is Alicia. Great to have you on the program. Hi.

CALLER: Oh, Rush, this is such an honor, and I'm so nervous.(giggles)

RUSH: You don't sound nervous at all.

CALLER: Oh, thank you. I'm just urging everybody to get out and vote in all the close races, congressmen, senators.

RUSH: No, no! Get out and vote in all the slam-dunk races. Get out and vote in all of the races.

CALLER: Yes. In all of them, that's true, but we must sweep in, because as bad as what's been done to us already with health care and the takeovers and everything, people have to ask themselves: What's going to happen? What else are they planning? Like nationalizing our 401(k)s and IRAs, that's on the agenda.

RUSH: Well, now, that's fascinating you mention that, because that's the next item up in my Stack of Stuff and I talked about this weeks ago, maybe even months ago when Tom "Dung Heap" Harken proposed this. Now, before you condition Alicia, let me refer to what she's talking about. It's Mark Hemingway in the Washington Examiner: " Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that. On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on 'Retirement (In)security in America.' "Among the proposals discussed was 'Guaranteed Retirement Accounts,' or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their money to the government instead." Now, this has been in the works for a long time and I remember the first time I mentioned this on the program, Alicia, we were deluged with calls from Washington: "No, no, no! You totally misunderstand. Nobody in the Democrat Party is talking about eliminating 401(k)s," and they are.

CALLER: Yes, they are.

RUSH: And it's not stopping there. They're also planning on going after your pension fund.

CALLER: Yeah, your private pension fund.

RUSH: Right.

CALLER: Right. And I'm scared to death. I get a private pension from Verizon. We saved, we lived below our income to save and put in our IRAs, and now they want to nationalize it -- and the worst of it is, the plan put forth by this woman [Teresa] Ghilarducci -- or something, I'm not sure how to say her name, I think: Ghilarducci -- for the White House, is: Okay, if they take all my IRAs, my husband's and my IRAs, whatever we spend, we can't spend it as we want. They only want us to have a monthly allowance.

RUSH: Exactly right. We've talk about this in great detail. They don't want to essentially take your IRA away from you and then give you back something like its current value at 2% interest.

CALLER: Right, and then you can only leave half of it to your heirs.

RUSH: Right.

CALLER: The government keeps the other half.
(Continued below)

HellerCarbonCapN TradeLLC

Alexandria, VA

#7 Nov 1, 2010
(Continued from above)
RUSH: Folks, she is exactly right about this. "The purpose of the GRA" from Harkin and Sanders "is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their money to the government instead. The GRAs," which is again the Guaranteed Retirement Account where you turn your 401(k) into a guaranteed retirement account, "'eliminate the favorable tax treatment currently afforded to 401(k) plans...'" What this is rooted in is eliminating the tax deduction that you get for the contribution to your 401(k). The Democrats think it's "costing" the government money. Now, they came up with this idea, the 401(k) plan, but now it's costing them money so they gonna get rid of it. You know, you're allowed to put a certain percentage of your gross into your 401(k) without taxes on it provided you don't withdraw it early.
They want to eliminate this. They want to take the money away from you, eliminate the tax deduction for future contributions, and give you back 2% interest on what you've got. That's essentially what it is. I need to find this in the website archives. I remember discussing this in great detail, and I remember -- it seems like years ago, actually' I know it was months ago -- and I remember talking about this and we got more hell from people in Washington saying this wasn't being discussed, that this wasn't being planned. In fact under Bush there had been a move to increase the cap on 401(k)s, and the Democrats stopped all of it. This is social justice.
"GRAs would 'eliminate the favorable tax treatment currently afforded to 401(k) plans, and instead use those dollars to fund government-invested GRAs into which all employees would be required to contribute a portion of their salary,' according to a letter signed by House Minority Leader John Boehner and 12 other Republican representatives. The letter urged opposition to the proposal and was sent to Treasury Secretary Timothy Geithner and Labor Secretary Hilda Solis in May. The Harkin-Sanders HELP committee hearing shows Democrats are ignoring critics of the GRA proposal." Now, guess who's behind it, though? Unions.
The unions are behind this. You might say, "Why? Why are the unions pushing this?" Very simple. The average union pension plan right now is only 62% funded -- and that's way below the point at which the government considers a pension plan endangered. So there are estimates that suggest unions' multiemployer pension plans are underfunded by $165 billion and could be on the verge of collapse, because all the money the union guys think is stashed away for them has been spent. The Reverend Jackson years ago talked raiding pension accounts for "social justice." The union leaders see these retirement security ideas like GRAs as vehicles as a back-door pension bailout:
To go get your 401(k) and add it to their pensions that are underfunded, thereby making their pensions whole, in exchange. The government funds a retirement account for you, but you no longer are in charge of how much it is or what kind of tax deduction that you get. I'm gonna go back. We're gonna go back and find what I said about this at RushLimbaugh.com . We have. I'm just gonna in the process here of Cynthia sizing it, editing it and printing it out. But the unions are behind this. The unions and their Democrat friends in Congress are still pushing to do away with your 401(k)s. They essentially are doing for a bailout of their pension plans with your money. That's what this by no means down to -- and the Democrats, Harkin and what's-his-face here, Sanders, are telling you that they're saving your retirement like putting it in a lockbox, saving your retirement.

(Continued below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#8 Nov 1, 2010
(Continued from above)
When in fact they're taking your money in your 401(k) and bailing out union allies with it. That's the purpose of this. I talked about this back in October of 2008. I know it goes back two years. My memory? Don't ever, don't ever doubt my memory. Here, let me read to you the first part of my transcript from the show on October 24th, 2008. At the website, we entitled it, " "Biden: CEO Pensions 'Go First'(And Your 401(k) Will Go Next)-- I want to talk to all of you who have 401(k)s or SEP/Keogh plans, some kind of pension plan or retirement plan.... I want to remind you, two weeks ago Congressman George Miller from California who chairs some congressional committee, big Democrat, been there for ages, said,'We're going to have to do something about the tax deductibility of contributions to people's 401(k)s because government's losing money.
"We're losing money on this,' so he's going to propose eliminating the deductibility of whatever you contribute to your 401(k). This goes back to 2008, and all hell broke loose. All kinds of denials were phoned into this program from Washington in a panic, and I remember pointing out: You can talk about all the so-called greed in the private sector. They're gonna go out and they're gonna take the pension of a CEO and your 401(k) plan and they're gonna transfer it to union plans. I said, "Listen to this. Look at me.'A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered.... Under Ghilarducci's plan," this is what the caller was talking about "all workers would receive a $600 annual inflation-adjusted subsidy from the US government but would be required to invest 5 percent of their pay into a guaranteed retirement account [GRA] administered by the Social Security Administration.'
"In other words, there is a plan that the Democrats are considering to convert your 401(k) to the Social Security Administration, your 401(k) then administered by the SSA, your private retirement plan becomes owned by the government.'The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation'" to you. Ghilarducci is the name the caller was trying to come up with. This goes back to 2008. Now, again this Ghilarducci babe is a professor of economic policy analysis at the New School for Social Research. She's the one that went bat nuts. She's the one when they asked her about this said, "Oh, Limbaugh, he's nuts! He doesn't understand what I'm talking about. He doesn't have brain power to understand what I'm talk about," and yet here today, earlier this month, it has now become official with a proposal by Tom Harkin (Democrat-Iowa) and Bernie Sanders ("Democrat"-Vermont) to create the GRA to take your 401(k), take it away from you, replace it with 600 bucks a year at 3%, and give the money to the unions to make their pensions whole. That's what they're proposing, come hell or high water. Look for this in a lame duck session. This is the kind of stuff you ought to be mad about and are.
BREAK TRANSCRIPT
(Continued below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#9 Nov 1, 2010
(Continued from above)

RUSH: I remember this like it was yesterday. This woman appeared before George Miller's committee, and remember we had a call from somebody in George Miller's district last week. We talked about the who he is. But anyway this woman, Ghilarducci, showed up, and I remember talking about this. The reaction that I got was, "Well, Rush, you're nuts. You're crazy to even be concerned about this. This is just a think piece. This is just Ms. Ghilarducci thinking about things. This is what we liberals do! It's just a thought exercise. She doesn't have any policy power here." I remember this like it was yesterday, and here the story is today. Two years later, almost to the day two years later -- actually 25 months later -- her proposal has now been accepted and has been proposed as a piece of legislation by Tom Harkin and Bernie Sanders to create an annuity funded by most of the private money now in private pension plans. It's not much different from Social Security, but it would take your 401(k) away from you, and the people pushing it -- and, by the way, it makes total sense, doesn't it, that Harkin and Sanders are pushing it? I mean, it's for unions. It's the unions behind it who are panicking over their unfunded (underfunded, unfunded, whatever) pension plans to the tune of over $150 billion.
END TRANSCRIPT
Read the Background Material...
• Washington Examiner: Unions Target Your Private Retirement Savings -Mark Hemingway
• RushLimbaugh.com : Biden: CEO Pensions "Go First" (And Your 401(k) Will Go Next)- 10.24.2008
• WSJ: Eyeing Your Pension Are 401(k)s Safe From Congressional Democrats?
• USNews: 401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America
carriegirl

Snowshoe, WV

#10 Nov 1, 2010
well we need to vote to help put obama out of power i a dem. but i never voted for him my 401 is mine im not going to stand by and loose it i work hard for it so do other people when i think my 401 is going to be mess with i will remove it
cbb

Bolton Landing, NY

#11 Nov 1, 2010
Karl Marx has nothing on this administration.
HellerCarbonCapN TradeLLC

Alexandria, VA

#12 Nov 1, 2010
Thank you Barack Obama and Liberal Democrat Congressman John Olver:
http://www.washingtonexaminer.com/opinion/col...
HellerCarbonCapN TradeLLC

Alexandria, VA

#13 Nov 1, 2010
Thank you Harry Reid, Nancy Pelosi, and Liberal Democrat Congressman John Olver:

http://online.wsj.com/article/SB1224776808344...
HellerCarbonCapN TradeLLC

Alexandria, VA

#14 Nov 1, 2010
Thank you, Liberal Democrat Congressman John Olver, for reading the 2700-page ObamaCare bill before voting in favor of it.
No doubt Mr. Olver will give equal attention to any bills which change the rules governing 401K's and personal retirement plans.

http://money.usnews.com/money/blogs/capital-c...
HellerCarbonCapN TradeLLC

Alexandria, VA

#15 Nov 1, 2010
From Rush 'Just an Entertainer' Limbaugh's Radio Program:
"Biden: CEO Pensions "Go First" (And Your 401(k) Will Go Next)"
October 24, 2008

BEGIN TRANSCRIPT

RUSH: I want to talk to all of you who have 401(k)s or SEP/Keogh plans, some kind of pension plan or retirement plan. The first thing I want to do is share with you something that Joe Biden -- he the one given to rhetorical flourishes, according to Obama -- on the campaign trail in Colorado, and he was out there doing full-fledged Democrat Party playbook 101. He promised a full-scale attack on corporate greed if he and Obama win. Biden vowed to target executives of failing companies who draw big salaries. "Their pensions go first," he told the cheering crowd. Now, folks, I want you to stop for a moment and very seriously consider what you just heard Joe Biden say. Here he's got a roomful, an auditorium full of rabid Obama supporting Democrats, they are there for whatever reason, they support Obama, they are filled with class envy, and here is Joe Biden telling this crowd that these CEOs of failing companies who draw big salaries, we are going to go get their pensions.

Now, we're not going to go get their salaries, we're not going to cap their salaries, although that's what they want to do, he didn't say that. We're going to get their pensions. Their pensions go first. Meaning what? We're going to take 'em. We're going to punish this evil greed that is making you angry and making you poor. Well, the only way to punish the greed that is making you angry and making you poor is to take Biden's pension away first. Biden has a pension as well, and he didn't talk about his pension to this audience. His pension is what's called a defined benefit option. It's backed by the US Treasury, which means that Joe Biden and Obama and everybody else in Congress is sheltered from the ups and downs of the stock market. He gets a generous pension no matter how bad liberal legislation screws up the economy for the rest of us. Biden also has the option of drawing his benefits earlier than private sector employees, with no penalty. His contributions accrue faster.

Now, the private sector greed that Biden attacks cannot hold a candle to the greed that liberals have for your tax dollars, as evidenced by Obama, who cannot wait to get his paws on your tax dollars, and Biden. This is striking! "Their pensions go first." He's going to take away people's pensions. If you let that happen, he can take away yours. Guess what. They are doing it in Argentina. They are nationalizing everybody's pensions. You stick with me on this, folks. The failures in the private sector are minuscule compared to the continued massive failures of Big Government. Everything they touch has unintended consequences and goes wrong, and they then get to act like innocent bystander spectators and point fingers at everybody else, and now they've got Greenspan up there agreeing that the free market screwed up when the free market had nothing to do with this economic mess. It was just the exact opposite.
(Continued below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#16 Nov 1, 2010
(Continued from above)
So, Senator Biden, if anybody's pension deserves to go first, it should be yours. You are the person of greed. You're the person who's made how many millions of dollars over the last number of years and given $3,600 of it to charity? You and your liberal buddies, you go first. You give up your pensions. Show us some leadership, Senator Biden. You go first. You show us how it's done. You want to be fair, you'll get rid of your own pension, because you'll say, "What we have done up here has been a disgrace and we are resigning out of a sense of honor." Now, this is just part of this pension and 401(k) business. I want to remind you, two weeks ago Congressman George Miller from California who chairs some congressional committee, big Democrat, been there for ages, said, "We're going to have to do something about the tax deductibility of contributions to people's 401(k)s because government's losing money. We're losing money on this," so he's going to propose eliminating the deductibility of whatever you contribute to your 401(k).
Now, we don't know if Obama would go along with this. The odds are pretty good that he would, because they have another plan. But now stop and think, here's Biden, they're going to take -- I don't care what you think of Big Oil, I don't care what you think of Enron -- the New York Times, by the way, is the Enron of media. They are now officially, according to Standard & Poor's, junk, on the very day they endorse Obama, they are junk. This just goes to show you propaganda does not pay. There isn't profit in propaganda. The New York Times is no longer the New York Times. Not what it was. They're losing advertising revenue, they're dropping pages, they're losing readers, circulation, and they are obstinate as hell about it, and now they are officially junk on the day they endorse Obama. So you can talk about all of this greed and all of this private sector greed and so forth, and they're going to go out and they're going to take some CEO's pension, his pension, their pensions go first? Next, your 401(k) is no longer deductible, and get this. This from James Taranto yesterday at the Wall Street Journal, Best of the Web today, and the headline of his piece here, "Are 401(k)s Safe from Congressional Democrats?"
(Con't below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#17 Nov 1, 2010
(Cont'd from above)
Now, I could answer this in two ways. First, I know you're scared to look at your 401(k) statements when they come in, what's happened to this market. Are your 401(k)s safe from congressional Democrats? They're not safe from Democrats right now, folks, because Democrats have caused what we're all experiencing. The second answer to the question is the startling information in this story. "If you have a 401(k) or equivalent retirement plan, you've probably been watching nervously the past few weeks as your nest egg has shrunken owing to the current turmoil in the markets. Well, it could be worse. But don't take heart, for what we mean is it could get worse. The market turmoil has some politicians on Capitol Hill eyeing the end of the 401(k) as we know it. Workforce Management reports on a hearing of the House Education and Labor Committee earlier this month."
Listen to this. Look at me. "A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered.... Under Ghilarducci's plan, all workers would receive a $600 annual inflation-adjusted subsidy from the US government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration." In other words, there is a plan that the Democrats are considering to convert your 401(k) to the Social Security Administration, your 401(k) then administered by the SSA, your private retirement plan becomes owned by the government. "The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation."
Now, the purpose of this plan is they think you'll go for this because you've seen these wild market gyrations, and you've seen your 401(k) plunge, so now they're thinking that you'll go along with the Social Security Administration running your private retirement plan at a guaranteed 3% a year. "The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated," so no longer would you get the deduction off the top of your income for whatever you contribute to your 401(k). The current system of tax breaks on 401(k) contributions and earnings would be eliminated. Teresa Ghilarducci, "I want to stop the federal subsidy of 401(k)s. 401(k)s can continue to exist, but they won't have the benefit of the subsidy of the tax break." So that's two people now that want to come along and take away the tax deductibility and subsidy of your 401(k). George Miller, who runs the committee, and some babe, professor of economic policy analysis at the New School for Social Research in New York.
"Ghilarducci outlined her plan last year in a paper for the left-liberal Economic Policy Institute, in which she acknowledges that her plan would amount to a tax increase on workers making more than $75,000--considerably less than the $250,000 Barack Obama has said would be his tax-hike cutoff. In addition, workers would be able to pass on only half of their account balances to their heirs," so that your 401(k) would be subject to the 50% death tax rate because the government's going to own it. The government's going to own your 401(k), and your 401(k) will guarantee you just 3% in government bonds administered by the government. Your private retirement account that the government set up and got you into, now they want to take over from you, just like Joe Biden wants to go out and make sure that these evil CEOs, their pensions go first. The concept that your money is your money will vanish when the Democrats take over Congress and Obama takes over the White House. All money will officially be government's.

(Cont'd below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#18 Nov 1, 2010
(Cont'd from above)
Now, this is getting pretty brutal, so they had this babe up to testify before this committee, Teresa Ghilarducci, and she offered a sweetener. "Short-term I propose ... that the Congress allow workers to swap out their 401(k) assets, perhaps at August levels, for a guaranteed retirement account--just a one-time swap.... How would this work? You go back to your districts and meet up with a 55-year-old who had had $50,000 in his account last month and now has $40,000 in the account. He can swap out that $50,000, valued in August, for that guarantee of what would become, if he retires at 62, a $500 a month addition to Social Security." So her plan is to have your 401(k) plan taken over by the government, invested by the government, the Social Security plan at 3%, and then your retirement is paid back to you in a Social Security check. Whatever your Social Security benefits are when you retire will be added to by whatever is in your 401(k). The point is that in your mind, if you go along for this, the government is in total charge of your retirement.

And the sweetener, the little hook here is for people to say, "Well, my 401(k) in August it was worth a lot of money, and now it's lost." Okay, we'll give you the August value. Your generous and benevolent government will give you the August value, and then they will take your plan and will put it in the Social Security Administration and will invest your plan in safe bonds at 3% a year, and then when you retire, that money in your 401(k) gets added to whatever your Social -- you get one check, your Social Security check. And in that check will be whatever your retirement account is, and you're essentially giving it up. You're essentially giving it up. By the way, gone also is any incentive to contribute to it, in terms of the subsidy you get off the top of your income for whatever you donate to your 401(k). Now, I don't want to totally alarm you here, it's by no means a certainty that Congress or Obama would embrace this proposal, but I'll tell you when you listen to them talk, this is the direction they're headed. You know they're going to come after pension plans. It's one of the largest sources of money out there, be it you California teachers, public employees, Teamsters Union, your pension plan, I guarantee you people like Obama and Democrats in the House are eyeing that as though it's theirs. Joe Biden, "Their pensions go first."

And then Buenos Aires: "A year ago, when leftist Cristina Kirchner was elected to succeed her husband Nestor as president, many Argentines hoped she'd follow a more conciliatory path ... But with gambits like Tuesday's proposal to nationalize private pension funds, the 55-year-old former senator has shown a combativeness that is every bit the equal of her husband's. Mrs. Kirchner justified the proposed seizure of $30 billion in pension assets by accusing the funds of having instrumented 'policies of plunder.' She said Argentina was setting an example of how to deal with the global financial crisis." So here's Argentina with a leftist nationalizing everybody's pension on the basis of people running the pension funds are crooks. Folks, if you don't take this election seriously, this is exactly the kind of stuff headed our way.


BREAK TRANSCRIPT

(Cont'd below)
HellerCarbonCapN TradeLLC

Alexandria, VA

#19 Nov 1, 2010
(Cont'd from above)

RUSH: By the way, this move down in Argentina by the new leftist president, Cristina Kirchner, to nationalize private pension funds is being fought. The citizens, there are all kinds of lawsuits being filed against her down here. People are not standing for this. Look it, Argentina, if I'm not mistaken is the country we always heard about in the late nineties as a model for how to reduce Social Security. That's right, Chile. Sorry, Chile. One South American country is like all the rest, I guess. I get them confused out there.

BREAK TRANSCRIPT

RUSH: The first hour contained a detailed explanation of plans that Democrats have to take your 401(k) away from you and give you the value of it before the market plunge and then put it into the Social Security trust fund, and your 401(k) then will be invested. It's not your private retirement account anymore. The government owns it, and they're going to guarantee you 3% growth every year with the purchase of government bonds. And therefore you give up all of the tax deductibility, you know, let's say you earn whatever it is, a hundred thousand dollars and you put whatever percentage of it into your IRA, then of course your adjustable gross income comes down. So you face a smaller tax payment while saving money. It's a government sponsored deal and everybody was happy with it. They're going to take all of that away and put the money in the Social Security trust fund, and then when you retire you'll get one check that represents your Social Security and whatever your 401(k) has matured to at 3% a year in one check.

Now, one thing I forgot to mention here on this is that IRA contributions drive down adjusted gross income. Using my example, you earn a hundred thousand dollars, and let's say you direct that $20,000 of it go to your IRA, whatever the maximum you can put away. For some plans it's 30% max, SEP/Keoghs up to a certain ceiling, but let's say just for argument's sake it's 20 grand, so therefore your adjustable gross income is reduced by $20,000 so you're going to have a smaller tax payment. Once they take that away from you, guess what? Your tax rate's going to also go up because your adjusted gross income is not going to have your IRA deduction, and guess what this is going to do? It's going to push more people into Obama's new tax increase bracket. It's going to push more people over the $250,000-a-year magic number. Right now this is not an Obama proposal, I want to make sure that you understand, this is a Democrat Party proposal, and they have been conducting hearings on this already, and the appropriate committee in the House and this plan has been advanced by a professor that they brought in, and they're intrigued by it. Democrats on the committee are intrigued by it.

In the meantime, we've also learned that Ted Kennedy, on his sickbed, has been working on national health care with lobbyists and senators from both parties. The want to rush this through and, quote, "Do it for Ted." The Ted Kennedy National Health Care Act in his honor. I predicted this would happen. Here it is. Who can oppose that if you're in Congress? After Ted Kennedy passes away, who in their right mind would oppose it? So this is happening. Your adjustable gross income is going to go up. You might make it now into Obama's $250,000 or more tax bracket where you will get an increase, and then Snerdley said, "What are they going to do with the money that they're putting in there? They going to build roads and bridges and so forth?" Snerdley, come on, roads and bridges? New social programs. They might build some infrastructure because there are gonna be a lot of people out of work, the government will hire 'em, it's going to FDR all over again. The "new" new raw deal.


END TRANSCRIPT
hard dude

Easthampton, MA

#20 Nov 1, 2010
dang! there heller - quite a substantial post. Sure hope you didn't have to key all that.

But, Golly, since rush limpbones said it, well, we can all take it to the bank.

The most amusing thing about your rants is how you 'neglect' to mention how the 'free-market' corporate/banking interests influence that government thing, set up for We, the People.

Now, don't get me wrong ... you've made your positions quite clear.... but the FIRE industries have made no contribution to the current economic state of affairs. That TARP thing was obama's fault right?--- Oh no --- everything is the fault of those liberal democreeps. Yup! tanks gawd for dem republakans --- de is gwanna save da werld!

Hey, thanks for your insight. You are right on top of things ---- quoting that noon to 3 PM tawker. Where would we be without you.

Tell me when this thread is updated:

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