America has not voted in a new President, we have voted in a new America!
We have voted for a weaker military.
We have voted for a more socialistic economy.
We have voted to do away with the 1st Amendment.
We have voted away the right to own guns.
We have voted for greater access to the killing of unborn children.
We have voted to allow to our courts to create legislation.
We have voted to do away with an objective media.
We have voted to do away with the very things that have made this country great! Everything the Founding Fathers and those who fought in the American Revolution died for is now at risk.
Our very Liberty is in danger of extinction!
We are no longer the free nation we were on November 3, 2008.
The world changed on September 11, 2001 and it changed again on November 4, 2008.
We have voted away the very soul of our nation!
Tuesday, November 04, 2008
Sunday, November 02, 2008
The Democrats Want Your 401(k)
Teresa Ghilarducci is the author of the Democrats plan to destroy your right to handle your own retirement plan!
In Seattle, Kirby Wilbur had this exchange with her. She said, "Your plan, as I understand it, would end the tax deferral status of 401(k)s. I have one, and I put in a certain amount every month and that deducted from my growth so I don't pay taxes on it 'til I pull it out when I retire. So it would end that and it would bring about a new government retirement plan. Is that correct?"
GHILARDUCCI: Whatever you have in your 401(k) now will keep its tax break. So everybody who has their 401(k) plan will be grandfathered in. But what I proposed, instead of getting a tax deduction -- like a decrease in your taxes by whatever your tax rate is, so if you're at the very high income, your tax rate is 39%, and if you're at the very low, you're at 15%, and 40 million people make so little they don't pay any taxes at all. Instead of the deduction coming from your tax rate, so if you're high, whatever you put in your 401(k), like a dollar, let's say, or a hundred dollars, you get back 39 cents, or $39, if you're the high rate; 15 dollars, or 15 cents if you're at the low rate, or nothing if you're at the low rate. I proposed that we just transfer the deduction to a credit so that everybody gets $600. So I'm not taking away the tax break. I'm actually, um, giving everybody a flat amount so that it's more equal.
GHILARDUCCI: The government would guarantee 3% plus inflation.
WILBUR: Okay, 3%, okay, plus inflation.
GHILARDUCCI: Yes.
WILBUR: So the bonds would be adjusted. As I understand the $600 would be adjusted as well, right?
GHILARDUCCI: It would. It would.
WILBUR: Okay.
GHILARDUCCI: And what's amazing about this is that it's actually, um, doesn't cost the government anybody. (sic) I'm just rearranging the tax breaks that are available now for 401(k)s and spreading -- spreading the wealth.
GHILARDUCCI: The government would guarantee 3% plus inflation.
WILBUR: Okay, 3%, okay, plus inflation.
GHILARDUCCI: Yes.
WILBUR: So the bonds would be adjusted. As I understand the $600 would be adjusted as well, right?
GHILARDUCCI: It would. It would.
WILBUR: Okay.
GHILARDUCCI: And what's amazing about this is that it's actually, um, doesn't cost the government anybody. (sic) I'm just rearranging the tax breaks that are available now for 401(k)s and spreading -- spreading the wealth.
AS BROKEN DOWN BY RUSH LIMBAUGH:
Spreading your wealth. But did you also notice the amazing thing is it doesn't cost the government any money! It doesn't cost the precious government any money! It's gonna cost you money. Here's the lure, and folks, you gotta understand this. Gosh, this so infuriates me. Imagine you're just a little guppy swimming around in your aquarium and this woman throws in a little lure to try to feed you and get you hooked, your 401(k)'s tanked. She can wipe that out. Her plan is for the government to restore the value of your 401(k) before the crash hit. That's the sweetener, that's what's supposed to suck you in, that's what's supposed to get you to support this. "Wow! Wowie! You mean my benevolent government that loves me is going to restore my 401(k) value? And then they're going to invest it with bonds at 3% a year plus --" that's how they want you to give it up. They are the ones that came up with this plan. The 401(k)s, SEP/Keoghs and so forth during the Reagan years. They don't like it. They do not like you having control over the creation of your own wealth, folks. If you want to understand what redistribution is, socialism, whatever you want to call it, it's very simple. The Obamas of the world do not want you in control of your ability to amass wealth. They don't want you to have control over that. They want you to cede your wealth to them for restoring your 401(k) to its August levels, its values, and then 600 bucks a year, yeah, 3%, adjusted for inflation. No growth. Zippo growth. Do you understand, 3% adjusted for inflation, zero growth.
They're promising you that your 401(k) will stay even with inflation, but that's it. The arrogance, it doesn't begin to describe it, Snerdley. Of course they're arrogant. I just want to do this and I want to take this tax, and I want to do that, and here's what I want to do, and it's amazing, it doesn't cost the government any money. Well, holy hell. It doesn't cost the government any money. What are we supposed to do, get down and pray to Washington every day four times a day? It's not Washington's money in the first place, Ms. Ghilarducci.
In Seattle, Kirby Wilbur had this exchange with her. She said, "Your plan, as I understand it, would end the tax deferral status of 401(k)s. I have one, and I put in a certain amount every month and that deducted from my growth so I don't pay taxes on it 'til I pull it out when I retire. So it would end that and it would bring about a new government retirement plan. Is that correct?"
GHILARDUCCI: Whatever you have in your 401(k) now will keep its tax break. So everybody who has their 401(k) plan will be grandfathered in. But what I proposed, instead of getting a tax deduction -- like a decrease in your taxes by whatever your tax rate is, so if you're at the very high income, your tax rate is 39%, and if you're at the very low, you're at 15%, and 40 million people make so little they don't pay any taxes at all. Instead of the deduction coming from your tax rate, so if you're high, whatever you put in your 401(k), like a dollar, let's say, or a hundred dollars, you get back 39 cents, or $39, if you're the high rate; 15 dollars, or 15 cents if you're at the low rate, or nothing if you're at the low rate. I proposed that we just transfer the deduction to a credit so that everybody gets $600. So I'm not taking away the tax break. I'm actually, um, giving everybody a flat amount so that it's more equal.
GHILARDUCCI: The government would guarantee 3% plus inflation.
WILBUR: Okay, 3%, okay, plus inflation.
GHILARDUCCI: Yes.
WILBUR: So the bonds would be adjusted. As I understand the $600 would be adjusted as well, right?
GHILARDUCCI: It would. It would.
WILBUR: Okay.
GHILARDUCCI: And what's amazing about this is that it's actually, um, doesn't cost the government anybody. (sic) I'm just rearranging the tax breaks that are available now for 401(k)s and spreading -- spreading the wealth.
GHILARDUCCI: The government would guarantee 3% plus inflation.
WILBUR: Okay, 3%, okay, plus inflation.
GHILARDUCCI: Yes.
WILBUR: So the bonds would be adjusted. As I understand the $600 would be adjusted as well, right?
GHILARDUCCI: It would. It would.
WILBUR: Okay.
GHILARDUCCI: And what's amazing about this is that it's actually, um, doesn't cost the government anybody. (sic) I'm just rearranging the tax breaks that are available now for 401(k)s and spreading -- spreading the wealth.
AS BROKEN DOWN BY RUSH LIMBAUGH:
Spreading your wealth. But did you also notice the amazing thing is it doesn't cost the government any money! It doesn't cost the precious government any money! It's gonna cost you money. Here's the lure, and folks, you gotta understand this. Gosh, this so infuriates me. Imagine you're just a little guppy swimming around in your aquarium and this woman throws in a little lure to try to feed you and get you hooked, your 401(k)'s tanked. She can wipe that out. Her plan is for the government to restore the value of your 401(k) before the crash hit. That's the sweetener, that's what's supposed to suck you in, that's what's supposed to get you to support this. "Wow! Wowie! You mean my benevolent government that loves me is going to restore my 401(k) value? And then they're going to invest it with bonds at 3% a year plus --" that's how they want you to give it up. They are the ones that came up with this plan. The 401(k)s, SEP/Keoghs and so forth during the Reagan years. They don't like it. They do not like you having control over the creation of your own wealth, folks. If you want to understand what redistribution is, socialism, whatever you want to call it, it's very simple. The Obamas of the world do not want you in control of your ability to amass wealth. They don't want you to have control over that. They want you to cede your wealth to them for restoring your 401(k) to its August levels, its values, and then 600 bucks a year, yeah, 3%, adjusted for inflation. No growth. Zippo growth. Do you understand, 3% adjusted for inflation, zero growth.
They're promising you that your 401(k) will stay even with inflation, but that's it. The arrogance, it doesn't begin to describe it, Snerdley. Of course they're arrogant. I just want to do this and I want to take this tax, and I want to do that, and here's what I want to do, and it's amazing, it doesn't cost the government any money. Well, holy hell. It doesn't cost the government any money. What are we supposed to do, get down and pray to Washington every day four times a day? It's not Washington's money in the first place, Ms. Ghilarducci.
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