Obama-Nomics = Class Warfare + Wealth-Seizure + Wealth-Redistribution = Collapse of US Capitalism

November 29, 2012 in Debt Crisis, Economic Deception, Economy, Fiscal Cliff, Freedom, Government, Liberty, Obama-Nomics, Political Deception, Socialism, The Hope and The Change, United States Constitution, Welfare

 

“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – 
—  Winston Churchill

 

 

“When you see that trading is done, not by consent, but by compulsion ­­– when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see money flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you– when you see corruption being rewarded and honesty becoming a self sacrifice- you may know that your society is doomed.”

– Ayn Rand

Our Political Class is considering confiscating your private retirement account known as your 401k in order to “pay down the deficit?” A total deficit that is now being estimated at over $86 Trillion.  Far Left  Socialist  professor,  Teresa Ghilarducci of the New School of Social Research,  describes 401(k)s and related plans as a failed experiment. For about ten years she has argued for  government confiscation of  401k plans.  In October 2008, Democrats were so enthralled with her unconstitutional confiscatory plan  that they actually  asked her to testify before their  subcommittee.

After her testimony, James Pethokoukis wrote in  Money on October 23d that:

“Ghilarducci would offer a lousy 3 percent return. The long-run return of the stock market, adjusted for inflation, is more like 7 percent. Look at it this way: Ten thousand dollars growing at 3 percent a year for 40 years leaves you with roughly $22,000. But $10,000 growing at 7 percent a year for 40 years leaves you with $150,000. That is a high price to pay for what Ghilarducci describes as the removal of “a source of financial anxiety and…fruitless discussions with brokers and financial sales agents, who are also desperate for more fees and are often wrong about markets.” Please, I’ll take a bit of worry for an additional $128,000.”
 

 Would you believe that  Ghilarducci’s  plan is now actively  being discussed in the “Cliff Talks” .  Not so good you say? It gets worse.  Also being floated is the idea that when you pass on to your Great Reward, your annunity would terminate. There would be no payout to your heirs. If you already feel like the government has stolen your retirement through the Social Security ponzi scheme, you had better speak out before  your 401k is  seized and redistributed to freeloaders as a solution to ward off  the fiscal cliff.

The following article from our friends at the Pittsburgh Tea Party Movement demonstrates statistics  that indicates that Pennsylvania is already  well on the road to  Obam-Nomics  and a “Welfare State”. 

 Pittsburgh Tea Party Movement
The Blaze has an outstanding article ‘Welfare Nation’: The Sad Truth which includes a study by Gary Alexander, Secretary of Public Welfare, Commonwealth of Pennsylvania.  Please check out the study from our Secretary of Public Welfare.The article includes facts such as:

  • For every 1.65 employed persons in the private sector, one person receives welfare assistance;
  • For every 1.25 employed persons in the private sector, one person receives welfare assistance or works for the government;
  • It makes more financial sense for a single mom to earn $29,000 and get government subsidies than for that single mom to earn $69,000; and
  • It is now more lucrative – in the form of actual disposable income – to sit, do nothing, and collect various welfare entitlements, than to work, as shown below: