Senator Tom Harkin to Introduce Universal Retirement Preservation/Consolidation Legislatio

[AuH20]

Look over this booklet. The language is frightening.

http://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf

http://i196.photobucket.com/albums/aa215/sharptalons/Capture.png

[supermario21]

Jan 3, 2015 cannot come soon enough.

[Acala]

Yup. What's wrong with retirement in this country is too little involvement of government and banks. So the solution is MORE laws forcing MORE assets into the hands of banks. That always works . . .

[brandon]

Wait... isn't the purpose of social security to address those 4 points? Is he just saying we need a second social security? wtf?

[AuH20]

Wait... isn't the purpose of social security to address those 4 points? Is he just saying we need a second social security? wtf?

More or less. He's imploring the sheep to give Uncle Sam just ONE MORE CHANCE. :) We can trust them this time. And the folks with no appreciable retirement funds, will of course be receptive to this pooling plan. LOL This entire booklet reeks of a mob breaking into someone's home and deciding what possessions to divy up.

[TonySutton]

“We can't solve problems by using the same kind of thinking we used when we created them.”~Albert Einstein

[supermario21]

Not only does he want a second social security. It seemed to me that according to the paper, he wanted to increase social security payments by 15%.

[compromise]

He probably only made this legislation because he's retiring in 2015.

[jbauer]

Well at this point they aren't going to confiscate IRA's BUT...

If I'm employing you and all of a sudden I have a 5% increase in cost guess who's going to pick up the tab.

[thoughtomator]

Here comes the predicted federal grab for your retirement money, right on schedule.

[TonySutton]

Public input on this program is critically important, so people with ideas or stories they want to share can contact Chairman Harkman by:

Sending emails to: Retirement_Security@help.senate.gov


This is at the very bottom of the pdf linked in the OP. Start sending emails!

[Acala]

If you find yourself getting depressed, just remember that eventually they will have scooped up every scrap of wealth in the whole country and distributed it amongst themselves and THEN peace and freedom might be possible.

[AuH20]

I suspect Tom Harkin is a just a vessel for the Brookings Institute. Most of the polis are nothing more than emissaries for these globalist thinktanks:

http://www.bloomberg.com/news/2013-02-25/capping-top-earners-401-k-benefit-seen-as-cost-cutter.html


Pressure is growing to change incentives for retirement savings as U.S. lawmakers look for revenue, and top earners may pay the price.

The budget challenges confronting the federal government are leading to scrutiny of tax-advantaged savings accounts such as 401(k)s because they’re among the costliest tax breaks. A Brookings Institution report scheduled for release tomorrow will add to research that recommends curtailing the benefits for top earners to boost U.S. coffers.

“We really need to think hard about whether the dollars we are spending are effective at achieving the goals,” said Karen Dynan, co-director of the economic studies program at Washington-based Brookings and author of the report. “Our existing programs are falling short.

[Koz]

I'm a financial planner and this scares the shit out of me.

[HOLLYWOOD]

Reminds me of the George Carlin skit on the real owners... "...and now they're coming for your social security money. They want your fucking retirement money. You know what, sooner or later they'll get it, they'll get it all."


http://www.youtube.com/watch?v=6oBo8CJxatQ

[kathy88]

As soon as all the plundered funds from SS #1 are returned to in interest bearing account, we can discuss SS #2. So, NEVER.

[DGambler]

If the psychopaths would stop debasing the currency then you could save instead of having to be an "investment expert" and have retirement income. I should make the decision on who I want to pool my money with and who manages that pool.

[jclay2]

Lovely idea...quite lovely. We can pool together a 10% retirement tax on all income, which is then given to Goldman Sachs (at commission) who then "invest" in United States Government Bonds. Really, what could go wrong.

[ctiger2]

I want all Big Govt. Statists to invest 100% of their capital with the Federal Govt. Treasuries for example. The rest of us can invest in free market stuff. Let's see who fares better.

[devil21]

What it sounds like he's suggesting is a "second social security system" that will run side by side with the old one that's failing. This way the fedgov can keep forcing you to pay for the aging (and exploding in numbers) baby boomers checks while promising the "second social security" is the retirement plan for us younger people that will remain "untouched" (they love us and want us to be happy right?). But of course this translates to a bigger slush fund for politicians to piss away just like they've done with SS1. One of the biggest keys to running scams/ponzi is the ability to do it over and over without people realizing their getting screwed repeatedly by the same scam. Bankers do this all the time. Rinse and repeat.

It also reminds me of the mandatory retirement plan contributions I had to make as a local government employee years ago. I could not opt out and when I resigned I got a check for the amount they took but they kept the interest earned on it and the fedgov took a big chunk for taxes since I didn't wait 25 years or whatever to collect my money. I expect this new SS2/retirement plan will operate very much similarly to the mandatory contribution gov't retirement plans already in action. They'll just make it apply to everyone, not just gov't employees.

[HOLLYWOOD]

I want all Big Govt. Statists to invest 100% of their capital with the Federal Govt. Treasuries for example. The rest of us can invest in free market stuff. Let's see who fares better.I wonder how Nancy Pelosi and her VISA insider trading deal... or Dianne Feinstein funneling gov contracts to her husband's companies feel about forcing them to put all their money in?

So tired of these hypocrites... I betcha US Senator Harkin(D-IA) has invested in the very lucative Congressional private pension retirement fund,

[devil21]

Fun fact: I went to high school with Sen. Harkin's daughter and sat next to her in AP American History.

[Luciconsort]

sad thing is I have to quit my job to take possession of my 401k. guess it'll just go in the pot with the rest

[devil21]

I just noticed that pdf is actually from July 2012. I wonder how it stayed under the radar for so long?

[bunklocoempire]

I'll assume the guy is talking about FRNs being the unit to continue this scam.

No 5th principle to use gold eh? What a surprise.:rolleyes:

They started skimming from me and my wife around 1980. They started skimming from my folks in the late 50's.

(I changed up the wording from the calculator a bit)

"If in 1959 government stole $20.00 then in 2013 government would need to return: $158.27 Annual rate of inflation change: 691.3%"

"If in 1980 government stole $20.00 then in 2013 government would need to return: $55.89 Annual rate of inflation change: 179.5%"

http://www.usinflationcalculator.com/