You probably remember how Congressional Democrats and their amplification network in the MSM had a cow when President Bush proposed an exciting proposal to shift workers' Social Security contributions to private investment. The worker would benefit from growth on his investment by retirement, and the government would have a lessened obligation to support him. At that, the worker's private investment would have been only a portion of his Social Security taxes, and only if he opted to participate. Yet, the Dems went ballistic at the very idea of privatizing any Social Security monies whatsoever. The Bush proposal died a quiet death, and your FICA payments are under federal control.
With the Democrat takeover of Congress and the White House coming in January, hearings now taking place in the House already point to the sad fact that they can't wait to sink their meathooks into your private retirement savings, because now that the American electorate stripped themselves of effective Republican checks and balances, the FICA taxes you and your employer pay aren't enough to feed the Democrat beast.
Discussions are underway regarding the money you've earned, sacrificed to set aside for your future, made your own cost-benefit decisions as to where to invest it - and take it all away from you to put in an account run by the Social Security Administration.
What's your stock fund making you annually over a 10 year average? Probably in the ballpark of the average return on the stock market from 1926 to 2005, which was 10.4%. Your confiscated retirement funds would be removed from the private sector and deposited in government accounts, for which they would pay you a piddling 3% interest.
If you have loved ones who are depending on your retirement funds as their inheritance, don't drop dead. The government is raking off half of it.
Read about it here.
In the leadup to the last election, the Democrats scored higher than the Republicans on the economy why?
Hat tip: Lisa Graas at Why Mommy is a Republican
If that's the Change We Need, I'd rather have More Of The Same!
ReplyDeleteThanks for the link! You're on my blogroll now, too. Mine are listed according to the most recently updated, so keep blogging!
ReplyDeleteAnother nutty idea from the extreme left. which constantly ridicules the intelligence of the electorate and our ability to make decisions on our own. Sounds a bit socialist to me (and no, Senator Biden, I'm not kidding.)
ReplyDeleteMeanwhile, from a socialist point of view, what better way to finance a "spreading of the wealth," while at the same time making the entire country solely dependent on the government for their retirement "earnings," than something like this?
Aaargh!
Lisa, your blog has really filled out nicely! I knew it when it was a baby.
ReplyDelete