While everyone sat around gawking at how great this president of
ours is because he sanctioned the release of three Cubans jailed in the U.S. in
return for Alan Gross, Obama quietly moved forward with one of his promises
outlined in last January's State of the Union. In that address he
spoke about the difficulty many have with regards to saving for their
retirement, and as always devised a way in which the government can take over
another industry because we the American people are just too stupid to know what’s
best for us.
Let’s do more to help Americans save for
retirement. Today, most workers don’t have a pension. A Social Security check
often isn’t enough on its own. And while the stock market has doubled over the
last five years, that doesn’t help folks who don’t have 401(k)s. That’s why ...
I will direct the Treasury to create a new way for working Americans to start
their own retirement savings: myRA.
We have seen with the "affordable
care act" appropriately named Obamacare that when the government takes
over an industry it leads to failures on every level, a lack
of accountability, and eventually becomes a bureaucratic mess.
Remember when we heard "if you like your plan you can keep it?" or
"if you like your doctor you can keep him or her?" Yeah, don't we
all!! Fast forward to the present day and both of those statements have proven
to be complete lies. So what makes anyone think that a government takeover
of the retirement industry would in any way be helpful to the American people?
I'm sure everyone remembers the name Jonathan
Gruber... You know the guy who was caught on video speaking about the stupidity
of the American voter and how they must make laws like Obamacare so complex in
their wording that we the dumb voters wouldn't know what we’re looking at
anyway. Well this moron has ties to the myRA bill as well.
According to the Agenda for Shared Prosperity,
"William Gale, Jonathan Gruber, and Peter Orszag of
the Hamilton Project (Gale et al. 2006) have proposed that employers
automatically enroll employees in individual accounts, choose appropriate
investments, roll funds over when workers leave, and convert lump sums to
annuities upon retirement—though workers can opt out of any of these default
choices.
The authors also call for converting tax deductions into
refundable tax credits. This is the most important but least discussed part of
the proposal, probably because it benefits neither the financial industry nor
well-off households.
The Hamilton Project plan, if adopted in
its entirety, would increase retirement savings and make the system more
equitable. But it retains many of the flaws of our current system: workers
continue to bear the financial risk of defined-contribution plans and pay high
fees to private money managers; participation is not mandatory; employers are
not required to extend coverage or make contributions; and workers can continue
to access funds for reasons other than retirement."
There you have it!! Jonathan Gruber is
part of the gang that is pushing for employers to AUTOMATICALLY ENROLL
employees in these individual accounts, choose appropriate investments, roll
over funds, and so on. Then he goes on to explain that participation is not
mandatory. So which is it? Is it mandatory or isn't it? This is
more of the contrived language that Gruber was famous for in the Obamacare law.
Their intention is to confuse the shit out of the American voter to the
point at which they say screw it and try and believe that the government really
does have our best interest in mind.
Along with the brainchild Johnathan
Gruber, we also have another moron in the mix with regards to the myRA debacle.
Her name is Teresa Ghilarducci who according to Wikipedia, is a labor
economist and internationally-recognized expert in retirement security and is
the Irene and Bernard L. Schwartz Chair of Economic
Policy Analysis and director of the Schwartz Center for Economic Policy
Analysis in the Department of Economics at The
New School's New School for Social Research.
U.S. New and WorldReport calls her a 401(k) foe and the Most Dangerous Woman in America. According
to Ghilarducci the government would "spread the wealth" and ensure
each and every American who is obligated to pay into the myRA account a return
on their investment. So basically the government will invest your money
for you in bonds and guarantee a return on that investment. But the only
thing she’s not telling you is that the government doesn't actually make any
money itself. As a result who would invest your money for you?
When you go to an accountant or money manager
to decide how to invest your money that individual has a vested interest in
seeing that you receive a return on your investment. What is the vested
interest for the government to ensure you receive a return on your investment? There
is no vested interest because they have your money and if you do not see a
return on that investment you have no choice but to live with the consequences.
Additionally if the plan fails who will be left on the hook to pull it
out of the doldrums, the tax payer. As with any other failed government
program or policy, the liability inevitably falls on the American tax payer to
provide an out for the federal government.
So while you sit there
and watch this pathetic excuse of a president go on TV and make up yet another
news headline to hide what is really going on behind the closed doors of the
White House, you must keep in mind the famous words of Obama's buddy Rahm
Emanual "Never let a crisis go to waste". This is the perfect analogy
to everything this president does. Whether it be a true crisis, or made up news
headline to draw public attention away from what is really going on, we must
all remain cognizant and keep asking the question what is this president really
up to?
-Young
Conservative
@Steve0423
Facebook.com/WhyTheLeftIsntRight
#tcot #RedNationRising
