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Name:
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Barneget
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Subject:
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Interesting
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Date:
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10/17/2010 9:39:03 PM
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Hound, started following this issue in February. SEIU actually laid out the plan in their member newsletters. Although I don't have the link(s), I think first mention was November 09, with the strategy laid out in the March 10 issue. Below is an excerpt from a recent Labor Union Report post, with a link. You can dig around the site which features opinion, and links to various union efforts. This site appears to support a union free work environment, but, a closer look reveals they are anti union corruption.
The Confiscationalists.
Also on Friday, an online firestorm was created when Human Events writer Connie Hair exposed what Democrats were doing last week during a recess hearing in the Senate HELP Committee:
Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more “fairly” distribute taxpayer-funded pensions to everyone.
Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous “Guaranteed Retirement Account” (GRA) authored by Theresa Guilarducci.
In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a “fair” pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.
The New School, at which Theresa Guilarducci is the Director of the Schwartz Center for Economic Policy Analysis, was founded in 1919 as a center for progressive thought by Fabian socialists, as well as historian Charles Beard and philosopher John Dewey. According to the New School’s website:
The New School is a legendary, progressive university comprising eight schools bound by a common, unusual intent: to prepare and inspire its 10,200 undergraduate and graduate students to bring actual, positive change to the world.
Now, the constitutionalist in you may, at first, balk at the usage of the term “confiscate.” After all, in addition to being possibly unconstitutional, a Castro-Chavez style nationalization (or confiscation) is probably too crude for this crowd of Ive-League Leninists. No, their brilliance would likely reqiure more subtlety…like the tax code.
You see, if another government-entitlement were to be established, it would have to be pushed through Congress (which gives rise to the concerns of a ‘lame duck’ Congressional attempt at creating this monstrosity). Once it is created (assuming it could withstand court challenges), however, they could argue that the creation of an ‘account’ in this new scheme would suffice the eminent domain and just compensation provisions of the Fifth Amendment; or, if they don’t want to bother with that, they could just use the tax code to incentivise Americans to put their retirements into the hands of the government.
The Final Noose Around America’s Neck
The plan to end America’s semi-capitalist system may be announced very shortly when the President’s deficit reduction panel makes its report to the President. In fact, one of its members, former SEIU boss Andy Stern tipped their hand in July when he talked to the Huffington Post:
Andy Stern, a key member of the deficit commission, is pushing to invest a significant portion of the Social Security trust fund in private companies through the stock market, the former labor leader told HuffPost.
Stern, taking a break from one of the few public meetings of the National Commission on Fiscal Responsibility and Reform, said that Social Security “needs to be, like any pension fund, brought back into balance.”
There were several ways to bring the fund into balance, he said, but one that he favors consists of “investing some percentage of government money in the stock market, as they do in Canada. Not individual taxpayer money, but government money.”
The significance of this cannot be overstated. As bad as financial reform will for job growth, if the federal government invests in the private sector, there will be NO private sector.
URL: Labor Union Report
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