Archive for the ‘Controversial’ Category
Tuesday, November 18th, 2008
Some interesting articles to read:
George Will says that the best way to save Detroit is to let it go bankrupt. Here here!
The big news of the week: The Obama girls will have to wait until after they move into the White House to get a dog.
Bush is going to leave half of the $700 billion bailout for Obama to decide what to do with it. Meanwhile, Bernie Sanders wants to make sure Bush sticks with that plan.
John McCain and Barack Obama sat down to talk yesterday. They say that they are going to work together in the coming years. Work together for what? Did anyone bother to ask that question?
Here’s the latest on our Georgia Senate run off. You knew this one was coming - Jim Martin admits that he will be Barack Obama’s dog washer. Add those duties to being Harry Reid’s sock puppet and Martin will be a very busy man indeed …. Unless, that is, you actually show up at the polls.
Howard Kurtz explores the current pop-culture fascination with Barack Obama. Come January 20th, expectations become reality.
Rupert Murdoch says that the media has dug itself into a hole because it has failed to maintain the readers’ trust.
Mayors across the country are looking for Barack Obama to implement FDR-style public work projects to help their cities get back on their feet.
Sen. Tom Carper of Delaware says that there should be significant consequences for Joe Lieberman, who supported John McCain for president.
This statistic should astound you (then again … maybe not): Since 2000, government spending has increased by more than55%.
A sign of the times from the San Francisco Chronicle: “Are you an idiot to keep paying your mortgage?”
There is an Irish film out there challenging the current global warming hysteria.
Apparently it is “Green Week” on the Today Show so you can see first-hand the affects of climate change. I’m sure this is must-see television.
A church in Kansas refuses to remove a sign saying “America we have a Muslim president. This is sin against the Lord.” Sigh. If you goto church, you need to stop doing that. Religion is for weak minded people.
Tags: bankrupt, Barack Obama, bernie sanders, church, delaware, detroit, george bush, george will, global warming, green week, harry reid, howard kurtz, interesting articles, irish film, joe lieberman, john mccain, kansas, muslim, rupert murdoch, san francisco chronicle, today show, tom carper Posted in Auto Industry, Big Government, Controversial, Democrats, Economy, Election, Environment, Government Control, Headlines, Republicans, World News, congress | No Comments »
Monday, November 17th, 2008
Some interesting articles to read:
How does this sound … Secretary of State Hillary Clinton.
Now this certainly has to be the most amazing story of the day. I mean, who in their right mind would expect something like this to happen? Like what, you ask? Like someone being stabbed at an Urban Music Awards show.
Obama has been warned to prepare for an early assault from terrorists during this transition period.
Iraq’s cabinet has approved a pact to allow US troops to stay in Iraq until December 31, 2011.
Mayors around the country are asking for their piece of the bailout pie.
Newt Gingrich says that Sarah Palin will not be the future leader of the Republican Party.
OPEC will probably be lowering its supply soon as the price of oil continues to drop. Amazing how that supply and demand thing works. Someone ought to tell politicians about it.
Nasa’s Goddard Institute proclaimed this October to be the warmest on record, only to discover that they used the data from September.
Arnold Schwarzenegger has ordered for California to begin preparations for rising sea levels due to global warming. Too many steroids when he was younger?
Here’s what the government schools in Dallas have been up to … using fake social security numbers to hire teachers who are illegal aliens.
Meanwhile in Houston, thousands of illegal aliens who are convicted of violent crimes are not deported after they leave jail.
Two police officers say something derogatory about Barack Obama on a social networking site … now they are under an internal police investigation.
Should there be a political litmus test for reporters? Deborah Howell of the Washington Post seems to think so.
A private art school in New York was told by city officials to remove a banner displaying a picture of Josef Stalin … now the New York Civil Liberties Union wants answers. Who’s side do you think I’m on here?
A highway superintendent in New York turned down his $25,000 raise because he didn’t feel right getting a raise in these economic times.
Environmental groups are going to sue the U.S. Fish and Wildlife Service because it is not designating enough land for the endangered San Bernardino kangaroo rat.
After the incident at the opening ceremony of the Beijing Olympics where the little girl turned out to be lip-synching, China has decided to make miming illegal.
Is the sale of handgun really on the rise?
Gotta love these DRT stories. This one from Philly where a man tried to rob a barber.
We’re outraged that people would compare a political figure to Jesus! Wait, what if the political figure was this person?
Someone has put together a site where people can voice their priorities for the new administration.
Tags: arnold schwarzenegger, bailout, Barack Obama, beijing olympics, china, dallas, deborah howell, global warming, goddard institute, handguns, Hillary Clinton, houston, illegal aliens, iraq, jesus, josef stalin, kangaroo rat, NASA, new york, new york civil liberties union, oil, opec, san bernardino, secretary of state, teachers, terrorists, troops, urban music awards, us fish and wildlife service, washington post Posted in Big Government, Controversial, Democrats, Education, Environment, Government Control, Headlines, Idiots, People, Republicans, World News | No Comments »
Sunday, November 16th, 2008
Hedge fund manager plead their case on Capitol Hill this past week:
The five hedge fund managers who testified Thursday before the House Oversight and Government Reform Committee are more likely to find friends among Democrats, who have received 65 percent of the total $14.2 million the unregulated industry has given this election cycle to federal candidates, committees and parties. But the managers didn’t appear to be asking members of Congress for protection from regulation–instead they seemed resigned to the fact that it will happen and wanted to have a hand in shaping it, according to the Washington Post.
The managers who testified–George Soros, Philip Falcone, John Paulson, James Simons and Kenneth Griffin–have themselves contributed $179,200 to Congress this election cycle, favoring Democrats with 74 percent of their money. Soros, however, is the only one of them to have given money to president-elect Barack Obama, who received a total of $2.6 million from the hedge fund and private equity industry this election cycle. (John McCain received about $1.6 million.) Employees from the five companies represented by these men (Soros Fund Management, Harbinger Capital, Paulson & Co., Renaissance Technologies Corp and Citadel Investment Group) gave $269,550 to Obama. Citadel employees were responsible for nearly $200,000 of that. Collectively, employees of the companies represented at Thursday’s hearing have given all candidates and committees $915,900 this cycle.
Read the full story.
Tags: Barack Obama, Citadel Investment Group, congress, Democrats, george soros, Harbinger Capital, hedge fund, james simons, john mccain, john paulson, kenneth griffin, Paulson & Co., philip falcone, Renaissance Technologies Corp, Republicans, Soros Fund Management Posted in Big Government, Controversial, Democrats, Election, Headlines, Republicans, congress | No Comments »
Friday, November 14th, 2008
Some interesting articles to read:
Chuck Schumer says that the Republicans are deliberating meddling in the Minnesota Senate race.
Tired of getting felt up by some TSA guy every single time you fly commercial. Well check out this new screening system.
Al Gore says that he does not want to be Barack Obama’s “Climate Czar.”
The Democrats are planning on investigating George Bush and his administration once he leaves the White House. Didn’t they do this to the Romanovs?
George Soros wants Barack Obama to regulate hedge funds and to tax hedge fund managers at higher rates.
Obama will officially resign from his Senate seat over the weekend, paving the wave for the likes of Jesse Jackson Jr.
The GOP is going to file federal lawsuits to repeal McCain-Feingold campaign finance regulations.
Want to work in the Obama administration? All of you folks who claim you have that phony ADD, there is no way in hell you could sit still long enough to fill out this application.
Sarah Palin addressed fellow GOP governors yesterday in Florida and she is not too happy about the growing list of industries lining up at the government teat for a bailout.
Vladimir Putin discusses Georgia onions with Nicolas Sarkozy.
When a bus driver hits three pedestrians, what would be your first thought? Fire the SOB. Not according to the union that thinks it is “unfair” to fire someone for killing pedestrians.
A government school student did a little experiment. She wore an Obama t-shirt to school one day and a McCain t-shirt another day … you can imagine the reaction from fellow students AND teachers.
A Marine put pumper stickers on his car with sayings like “Islam=Terrorism” and “We Died, They Rejoiced.” His car is then banned from all federal installations. So he drives his car to Arlington National Cemetery to visit his son’s grave and guess what happens
The Postal Service isn’t doing too well … what did you expect? It’s a government operation.
It seems we have less idiots wandering around these days … the number of adult smokers has dropped below 20%.
A US company is being accused of gender discrimination in Sweden because of an advertisement that says wives will get beauty treatments if their husbands buy power tools.
Tags: add, airport security, al gore, arlington national cemetery, Barack Obama, chuck schumer, climate, Democrats, feingold, gender discrimination, george bush, george soros, georgia, global warming, hedge fund, interesting articles, Islam, jesse jackson jr., marine, mccain, minnesota, nicolas sarkozy, postal service, Republicans, sarah palin, smokers, terrorism, vladimir putin Posted in Auto Industry, Big Government, Controversial, Democrats, Economy, Education, Election, Environment, Government Control, Headlines, Idiots, People, Republicans, World News, congress | No Comments »
Thursday, November 13th, 2008
John McCain will be in Atlanta today to campaign for Georgia Senator Saxby Chambliss. Things are looking bad for Norm Coleman in Minnesota .. the Democrats are working their magic on the vote totals. Saxby Chambliss may turn out to be the most important man in the U.S. Senate.
From Chuckie Schumer and Barney Frank … screw the economic stimulus, let’s make sure we bailout the auto industry. There are unions to be rewarded!
Georgia Congressman Paul Broun says that he is sorry for comparing Barack Obama to Hitler. When’s the last time you heard a liberal apologize for constant Hitler and Nazi references to conservatives?
John Stossel says that the excitement surrounding an Obama presidency is good but it is also scary because of “the assumption that all progress comes from Washington.”
Barack Obama did in fact appoint Henry Rivera to head the team that will select the next FCC chairman. This man is not a fan of freedom in broadcasting.
Businesses are asking Congress to relax requirements from a 2006 law that requires companies to meet new pension fund levels … considering the current stock market.
So much for Nancy Pelosi’s pledge to “govern from the middle” … her new House leadership team is even more liberal than before.
The Supreme Court has lifted restrictions on Navy sonar training, ruling that national security trumps environmental concerns for whales.
Even though it probably won’t matter under an Obama presidency, the Interior Department is closer to opening waters off the Virginia coast for oil and gas drilling. As soon as they do the environmental socialists will step up with their lawsuits.
For those of you who care, Mark Foley has decided to speak.
You are going to love this. Studies now say that parents who have kids with that phony ADHD are more likely to get divorced. I would guess that is because one parents (the one who doesn’t buy this ADHD stuff) thinks the other parent (the one who does) is a moonbat.
The latest victim of the economic times … your office holiday party.
Typical mentality of an Obama supporter. “Housin’ is a human right.”
Tags: adhd, Barack Obama, barney frank, chuckie schumer, congress, Democrats, fcc, georgia, henry rivera, hitler, interesting articles, interior department, john mccain, john stossel, mark foley, minnesota, nancy pelosi, navy, nazi, norm coleman, paul broun, Republicans, saxby chambliss, supreme court, virginia Posted in Auto Industry, Big Government, Controversial, Democrats, Economy, Election, Environment, Government Control, Headlines, Republicans, World News, congress | No Comments »
Wednesday, November 12th, 2008
Some interesting articles to read:
The Al Franken / Norm Coleman recount debacle continues in Minnesota. Read this story and tell me you don’t think something stinks up there.
Energy independence? Check this out! We have more oil than we ever imagined in the Bakken Formation .. and it is inside this country! The environmental groups had better get busy before we actually start recovering this stuff!
Iran thought it would be a lot of fun to test a new type of missile near the Iraqi border.
So .. waddaya think? Will the Obama’s send their children to government schools? Are you freaking kidding me? Government schools are for YOUR children, not the Obama’s!
America lurches left … Mark Steyn. Lefties hate this guy .. all the more reason you should read this.
Gotta love P.J. O’Rourke. He says conservatives “blew it.” Golly, ya think?
It looks like Michael Steele, former lieutenant governor of Maryland, will probably be running for the chairmanship of the Republican National Committee.
What is shaping up to be trouble for president-elect Barack Obama, Cuban president Raul Castro is going to visit Russia next year.
The polls show that Jesse Jackson Jr. is the favorite to replace Barack Obama in the Senate.
The FEC will not be auditing the Barack Obama campaign because it doesn’t want to conduct a messy audit of a sitting president. Meanwhile, there is a rigorous audit of the McCain campaign going on.
Obama wants Congress to accelerate the confirmation of his top appointees. Something tells me that won’t be a problem.
How about Secretary of State Al Gore?
More talk of the Fairness Doctrine from Democrats. One Democrat Senator says that he believes technology has moved beyond our ability to regulate things. Well isn’t that comforting.
Here’s something for you to consider … Google is teaming up with the government in order to help federal officials “track sickness.”
The latest from Time Magazine on Barack Obama: “Some princes are born in palaces. Some are born in mangers. But a few are born in the imagination, out of scraps of history and hope…”
According to CNN, 59% of Americans think that Democratic control of both the executive and legislative branches will be good for the country.
Gas prices are falling so guess what happens … people start buying SUVs again! Amazing how that happens.
As you read this story, I want you to think about all of the people employed by this ski resort rather than the wealth envy: Ski resort for super rich files for bankruptcy.
A local paper in Oklahoma didn’t report that Barack Obama won the election. The paper says it’s because the story isn’t local news. Other people say it’s racist!
You might get a kick out of this … Where whiteness meets race: The Alliance of White Anti-Racists Everywhere — yes it’s real — tackles the notion of white privilege and white people’s responsibility to challenge racism, but can it help move people beyond race?
Visit boortz.com
Tags: al franken, al gore, alliance of white anti-racists everywhere, bakken formation, Barack Obama, cuba, Democrats, fairnes doctrine, fec, google, interesting articles, iran, iraq, jesse jackson jr., john mccain, mark steyn, michael steele, minnesota, norm coleman, oklahoma, p.j. o'rourke, raul castro, republican national committee, russia, secretary of state Posted in Big Government, Controversial, Democrats, Economy, Education, Environment, Government Control, Headlines, Idiots, Republicans, Taxes, World News, congress | No Comments »
Tuesday, November 11th, 2008
Some interesting articles to read:
A Georgia Republican Congressman is warning of a possible Obama “dictatorship.” How I would like to just laugh this off … but I can’t.
It looks like the great Obama Agenda for his first term has suddenly disappeared from the Obama website! They say they are retooling the site. Yeah. Or … now that he’s elected the old agenda is no longer operative?
The Republicans have been beaten badly in two straight elections. Time for some big changes. Are they up to it?
From the Wall Street Journal: (D.) for Vendetta.
From George Will: Obama and the Founder’s Intent.
How do you define the push by the unions to end the secret ballot in union elections? Well, “creepy” would work.
We have a new warning from Osama bin Laden about a new al Qaeda attack that will “outdo by far” September 11th.
All hail the age of the intellectuals!
For you global warming nut-jobs out there, take a look at this map. The areas in blue all experienced below-normal temperatures for 2008. Yeah, we really need to deal with this global warming threat.
Barack Obama plans to have his cabinet set and ready to “rule” by the end of this month.
From David Limbaugh: “The most unnerving aspects about the Democrats’ sweeping victory Nov. 4 are their intolerance for dissent and their willingness to censor and otherwise suppress their opponents.”
But there are some Bush appointees that will remain in power as Obama transitions to the presidency.
Now American Express is in trouble. Evidently one of the ways to help them out is to turn them into a bank holding company. I’m just wondering … now that there is so much talk of government bailouts for so many companies, is it possible that people think they can get away with not paying their debts now?
Some sad news to report … Howard Dean is stepping down as DNC chair. Arrrrhhhhhgggggggg!
There is in-house fighting between Democrats over who will be the chair of the House Energy and Commerce Committee … right now Henry Waxman wants his grubby little paws on the chairmanship. Waxman, in case you don’t know, is generally anti-business. Just the guy we need on the Commerce Committee.
Did anybody doubt that the Bush’s were going to be friendly to the Obama’s as they visited the White House yesterday? People seem shocked by this. Bush has class. Much more than Clinton … and we’ll see about Obama.
There’s a lot of talk right now about who will emerge as a leader in the Republican Party for 2012 … and the person on a lot of people’s minds is Newt Gingrich.
Reuters has declared that media bias was largely unseen in the US presidential race. Yeah…. Right.
Here’s a statistic that shouldn’t shock you. Almost 90% of Muslims voted for Barack Obama in the election.
There is no doubt that Barack Obama will change our relations with Cuba. This could mean lifting the embargo and having direct talks with the Castro brothers.
How much would you pay to attend Barack Obama’s inauguration? The asking price could be over $20,000. But don’t worry, Dianne Feinstein is already drafting legislation that would make it illegal to sell tickets.
This should tell you something … for the first time in history the Postal Service is going to lay off workers.
How much of your tax dollars are spent on your town’s Christmas decorations? Some things are about to change.
A man in the UK was taken to court because his trash can fell over and the government fined him for “incorrectly placed his rubbish bags beside his collecting receptacle.”
A Boeing 737 flying in Europe had to make an emergency landing after it was attacked by birds.
The world’s ugliest dog has died.
Tags: al Qaeda, american express, Barack Obama, bill clinton, boeing 737, christmas, cuba, david limbaugh, democratic national committee, dianne feinstein, england, george bush, george will, global warming, great britain, henry waxman, house energy and commerce committee, howard dean, interesting articles, muslims, newt gingrich, osama bin laden, postal service, reuters, uk, white house Posted in Big Government, Controversial, Democrats, Economy, Education, Election, Environment, Government Control, Headlines, Republicans, World News, congress, religion | No Comments »
Monday, November 10th, 2008
U.S. labor unions, having helped Barack Obama win the presidency, entertain high hopes he will enact their agenda to bolster their negotiating power with employers and increase their numbers after decades of decline.
A cornerstone of labor’s agenda is passage of the Employee Free Choice Act that unions argue restores balance to its negotiations with employers, but is described as “Armageddon” by a leading business group.
Here’s the way union organizing works under the current law. Union organizers circulate a petition among employees. Employees are asked to sign a card saying that they would like to be represented by a union in their workplace. If a majority of the workers sign the cards the employer has the option of immediately recognizing the union and allowing them to organize the workplace. More often the employer will call for an election – an election using secret ballots. Every employee will be given the opportunity to express their desire to join or not to join a union by secret ballot. Their co-workers will not know how they voted. They can prance around the workplace touting their support of unionization all they want in order to impress their fellow workers, especially those who are trying to organize the union, but then vote “no” on the secret ballot if that’s how they truly feel.
But with the Employee Free Choice Act, two major provisions would let prospective members sign union cards instead of waiting to hold secret ballot elections to unionize workers at a company, and call for a government arbitrator if a newly created union and the employer did not reach a contract within 120 days.
One-third of the time that a union succeeds in organizing a company’s workers, it never reaches a contract with the employer, and the union often disbands at the company.
Both labor and business say passage of the law could mean unionization rates will soar. Unions have arrested a decades-long decline and have roughly 13 million members, or just 7.5 percent of the nongovernmental work force. That is down sharply from the mid-1950s when U.S. union membership reached 36 percent of the labor force.
How do Democrats feel about the secret ballot in union elections? Check out this letter signed by 16 House Democrats dated August 29, 2001. The letter was written on the letterhead of California Congressman George Miller, a Democrat representing the 7th District of California. Story concludes below the letter.


That brings us to piece of legislation designated as H.R. 800, the Employee Free Choice Act. Would you care to guess just what H.R. 800 does? It will eliminate the secret ballot in union recognition elections. You got it! The Democrats (it’s their bill) have decided to really do something nice for the union bosses that support them year after year, and they’re going to do away with secret ballots. When H.R. 800 gets passed … and trust me, with Barack Obama (he’s a sponsor of the Senate version) in the White House, this thing will become law. Then the union organizers will visit all of the workers, perhaps even visiting some of them in their homes, and “urge” them to sign the card calling for a union. I can hear it now: “Mrs. Smith, wouldn’t you and your children want your husband to be represented by our union at his job?” Now put yourself in the worker’s place! Are you going to say no? This organizer is sitting in your living room looking at you and your wife and saying “You do want to be represented by our union in your workplace, don’t you?” And you’re going to tell him no?
Are you getting the big picture here? This is nothing less than the Democrats legitimizing union intimidation in the workplace. If you don’t see that, then there is virtually no hope for you when it comes to understanding basic politics. It’s payback the unions time .. pay them back for all of that financial support and all of those volunteer hours. Besides … the more union members there are the more union dues the union bosses have to spread to Democrats as campaign contributions.
But – we’re saved, right? After all, we have those 16 Democrats who signed that letter to Mexico. What was it they said: Oh yeah: ” … we feel that the secret ballot is absolutely necessary in order to ensure that workers are not intimidated into voting for a union they might not otherwise chose.” So these 16 Democrats will certainly put up a spirited defense of secret ballots in union organizing elections, right?
Well, maybe not. You see, four of these congressmen (Dooley, Sabo, Evans and Coyne) are no longer in the Congress. One of the signers, Bernie Sanders, is now a Senator. That leaves 11 of the 16 signees in still in the house to defend the principal of the secret ballot.
I’m afraid we have a small problem though. It seems that every one of the 11 remaining signees is now a sponsor of H.R. 800. In fact, the so-called Employee Free Choice Act was actually introduced by none other than George Miller – the very California Democrat on whose letterhead that letter to Mexico was written. Bernie Sanders is a sponsor of the same legislation in the Senate. No surprise.
On the one hand we have these Democrats writing a letter extolling the virtues of a secret ballot in union organizing elections, and then they sponsor a bill eliminating those very secret ballots! So what changed between 2001 and 2007? What happened that made these 12 Democrats go from believing that a secret ballot in a union election was “absolutely necessary,” to introducing a bill eliminating those “absolutely necessary” secret ballots? Control of congress; that’s what changed. In 2001 the Republicans ran the show. In 2007 it was the Democrats … and it was time to return some favors to union bosses. Do you know what you’re seeing here? You’re seeing just how much power unions have over Democrats and the Democrat party.
Read the full bill here.
Read the full story here.
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Tags: Barack Obama, bernie sanders, Democrats, employee free choice act, george miller, h.r. 800, labor unions, secret ballot Posted in Big Government, Controversial, Democrats, Election, Government Control, Republicans, congress | No Comments »
Monday, November 10th, 2008
Some interesting articles to read:
Al Gore wants to ride the Obama coattails of popularity by using the “Internet revolution” that brought Obama to victory in order to save the planet.
The campaign is over, but it didn’t take long for Jeremiah Wright to pop back up in the media.
Labor unions are giddy at the thought that Barack Obama will give them the support they need to pass the Employee Free Choice Act.
Someone needs to inform president-elect Barack Obama that we are not a democracy. (And that is a good thing).
Barack Obama’s plans for mandatory community service are constantly changing on his transition website change.gov. How will this program impact federal spending?
Apparently there is a government school in Mississippi that won’t allow students to talk about Barack Obama in class or in the hallways.
Now that the election is over, the media will focus on its next big event … warning you about the next Great Depression.
According to the Associated Press, Obama faces challenges that are “like Lincoln and FDR.” Here comes the push to make Obama another Lincoln.
How does Generation X feel about a Barack Obama presidency?
Plans are being made to promote a national holiday for Barack Obama.
China says that rich countries should abandon their “unsustainable lifestyle” to fight climate change and help poorer nations cope. Wait, China?
With Barack Obama as president, how will our relationship with the United Nations change?
The Arizona Supreme Court chief justice has agreed to ban the terms “illegal” and “aliens” in all state courtrooms, at the request of the Hispanic Bar Association.
Sarah Palin says that the anonymous sources who reported that she didn’t know Africa was a continent and not a country are “jerks.”
Just what this country needs … making government schools easier for students. The wussification of America continues.
A man is suing the state of Idaho because it failed to educate him about the West Nile virus.
You thought it would be fun to go streaking on Halloween, until you had to register as a sex offender.
A DRT story from Tampa where a man being robbed managed to break free from his restraints, wrestle the gun away and shoot the robber.
Antigua wants to rename its highest mountain “Mount Obama” in order to attract more tourists.
Tags: abraham lincoln, al gore, antigua, arizona supreme court, Barack Obama, china, climate change, community service, employee free choice act, fdr, franklin d. roosevelt, generation x, great depression, halloween, hispanic bar association, idaho, interesting articles, internet revolution, jeremiah wright, labor unions, mississippi, mount obama, sarah palin, united nations, west nile virus Posted in Big Government, Controversial, Democrats, Economy, Education, Election, Environment, Government Control, Headlines, Republicans, World News, congress | No Comments »
Sunday, November 9th, 2008
So our government, or should I say one specific party, is talking about socializing our retirement plans into one big pot to go along with the Social Security program. Hmmm … Sounds like redistributing the wealth to me. Where in the hell does it say in The Constitution of The United States of America that government can steal from people who saved their own money and give it to other people?
Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
Teresa Ghilarducci, an economics professor, proposed this plan. Here’s Teresa’s explanation: “The way the government now encourages 401(k) plans is to spend $80 billion in tax breaks, which goes to the highest-income earners. That simply results in transferring money from taxed savings accounts to untaxed accounts. If we implement automatic [individual retirement accounts] or if we expand the 401(k) system, all we’re doing is adding to this inefficiency.”
Inefficiency?! WTF! When did our own government become efficient at anything besides “F’ing” shit up?
This story will make you sick.
Tags: 401k, Democrats, house of representatives, ira, personal retirement account, Social Security, teresa ghilarducci Posted in Big Government, Controversial, Democrats, Government Control, congress | No Comments »
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