The People Promoting Seizure Of Your 401(k)

(Editor’s note: This will be one of those very long but very interesting articles full of tidbits of information you need.  Please take the time to read the entire article and/or bookmark for later reading and linkage.  I am attempting to break this topic of retirement security down into manageable yet related pieces.)


On 10.7.2010, Sen. Tom Harkin held a HELP Committee hearing “to examine retirement security in America”.  His full statement from the hearing can be found here.  The full video of the hearing can be found here. One of the main witnesses before the committee was Ross Eisenbrey, Vice President, Economic Policy Institute.  His full statement can be found here.

EPI has published and advocated what we feel would be an excellent national supplemental retirement plan, the Guaranteed Retirement Account, which was authored by Prof. Teresa Ghilarducci, Director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research. In a nutshell, the GRA would mandate employer and employee contributions to a federally administered cash balance plan. The combined 5% of payroll contributions would be invested by a Thrift Savings Plan-like entity in the bond and stock markets, with a guaranteed minimum return of 3% beyond inflation. A $600 tax credit would cover the entire 2.5% contribution for workers earning $24,000 or less, and greatly reduce the effective contribution rate for other lower-paid workers. We calculate that at the end of a normal working life, the average worker would accumulate, along with Social Security, enough to assure a 70% replacement rate of pre-retirement income. – Ross Eisenbrey

On Social Security:

HELP Committee

The trust fund has more than $2 trillion and will be able to pay 100% of promised benefits for another 27 years. Even then, Social Security will not “go broke” but will be able to pay 78% of promised benefits. So the question isn’t how to “save” the program; it will survive without any change. The problem is how to get more money into the trust fund so full benefits can be paid in perpetuity. The goal is, or ought to be, to preserve full benefits and to maximize the retirement income of the tens of millions of households
that depend on Social Security. – Ross Eisenbrey

“For many Americans, the only retirement security they have is Social Security, but that, too, is under siege.  There are those that want to privatize the system, cut back benefits and raise the retirement age.  They say that everyone should just work longer and that retirement is a ‘luxury.’  Clearly, those people do not swing a hammer for a living.  They do not toil in our corn fields or work on our oil rigs.  For Americans who work in these physically demanding jobs, working longer simply is not an option.  A lifetime of hard work takes its toll, and at some point, a person just cannot do it anymore.  – Sen. Tom Harkin on Retirement Security

Would any of this be the case if The Federal Reserve had not devalued our dollar by 96% since its inception in 1913, and given the US Congress a credit card chaining Americans to foreign countries with debt?



THE MAIN PLAYERS

The main players in this little drama are Teresa Ghilarducci and her Guaranteed Retirement Accounts paper, the Economic Policy Institute, SEIU, Retirement USA, and the New School of Social Research.

In his opening statement to the committee, Mr. Eisenbrey stated, “EPI is a non-partisan think tank with a long history of analyzing trends in employment, compensation, and income, as well as advocating for policies to ensure shared prosperity.”  After you look at the board for EIP, will you wonder as I did if they are truly non-partisan?

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It’s All About The Ego Stupid!!!

Okay stupid moos, is there any question in your mind about why Chairman Zero turned down IBM CEO Samuel Palmisano’s offer to reduce the cost of healthcare by $900 BILLION DOLLARS? Mort Zuckerman won’t hazard a guess in this interview with Stuart Varney on ‘Your World’, but we all know why Obama turned it down. … Read more It’s All About The Ego Stupid!!!

pResident Obama: “For However Long I Remain President Of The United States”

Excuse me?  Chairman Zero states to troops at Fort Bliss on August 31st, (4:00 minute mark): “It also means that as we transition in Iraq, that the one thing that I will insist upon for however long I remain president of the United States…” Impeachment? The ineligibility perp-walk?  The darker route the NWO takes when … Read more pResident Obama: “For However Long I Remain President Of The United States”

Why Does Obama Have Two Companies Incorporated In The UK?

A growing number of the American public is learning that on 2.21.1871, Congress passed the Act of 1871 establishing a separate government for the District of Columbia; a corporation which has subverted the original Constitution, (check out the video at the end of this post).  This is what the Restore America Plan has been all about; undoing 139 years of treason against American Sovereigns.  (3…2…1…the site implodes again…)

United States Code, Title 28, 3002:

(15) “United States” means—

(A) a Federal corporation;
(B) an agency, department, commission, board, or other entity of the United States; or
(C) an instrumentality of the United States.

I received a very interesting email that showed, among other items, that Barack Obama has two companies incorporated in his name in the UK according to Alfred Adask (his post below).  How many Barack Obamas exist in the world? Do any Monster readers in England want to do some digging?  Is this how the revenue is redistributed to the Queen and the international banksters?

(Click on the photos to go to the UK company listing.)

Incorporated November 10, 2008 (The same day he and Michelle went to the White House to meet the Bushes)

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