Prudence for Dummies: Possible Plan for Saving Social Security

Monday, August 6, 2012

Possible Plan for Saving Social Security

Ann Barnhardt again -- Read 401k Confiscation Parts 1 &2 -- I can't figure out how to create links to the individual posts which is a drag. But get over there and read them.

But the real point of this can be found on the top]right of page 12 under the header "Why not simply expand Social Security?"

"If subsidies for 401(k)]style plans and IRAs can be reallocated to Guaranteed Retirement Accounts, why not use this money to shore up and expand Social Security? This is certainly an option."
This is an admission that there is no "lock]box" in effect on the GRA money, and it would be a FLIPPING FREE FOR ALL. The 401(k) and IRA assets in the United States are currently pegged at over SIX TRILLION DOLLARS. The Obama regime would instantly "borrow" against that money and burn through it in the blink of an eye in the Ponzi Scheme method of SocSec. It is widely thought that the first group to be bailed out by GRA siezure money would be . . . wait for it, wait for it . . . unions. SEIU is massively underfunded on its retirement obligations.

Sadly, I am not shocked by this. It is something I whispered to my wife several years ago, hoping that the demons who give ideas to the federal government would not hear me. Apparently they did.

This would make me very unhappy. It would be theft and a gross violation of the social contract, and it would not surprise me at all to see it attempted.

2 comments:

John LienAugust 10, 2012 at 9:29 AM
I heard Mark Levin interview the brainchild of the GRA about a year (or was it two) ago. At the time I said, IMPOSSIBLE! Now, it doesn't sound so.
ReplyDelete
Replies
mushroomAugust 10, 2012 at 4:23 PM
It would be criminal. But, they will go all-out 24/7 for months on end trying to tell us that it's the only way to save Social Security. And there are a lot of people headed toward retirement who have little or nothing in their accounts that will be all for it.
ReplyDelete
Replies

Add comment

The PFD Recommended Viewing and Reading List --- Suggestions are welcome

The Secret of Roan Innish -- suggested by Farmlog's John Lien
The Incredibles
The Man Who Shot Liberty Valance
Secondhand Lions
The Book of Eli Finally got around to watching it myself. "It's ca-at."
The Road -- I haven't seen the movie, but I can recommend the book
Blackhawk Down -- The modern battlefield
Last of the Mohicans (1992) -- "Find yourself a musket."
The World's Fastest Indian -- Ingenuity and determination and motorcycles
Iron Will -- "Run longer. Sleep less." And, finally, a use for fruitcake.
The Apostle -- Because redemption is real
Jeremiah Johnson -- I cannot believe I left this one off.
Walking Tall -- I prefer the original based on the short life of man who just wanted to do the right thing.
Treasure of Sierra Madre -- Gold will change a man. Fruit trees are better.

Quotables

Don't believe them, don't fear them, don't ask anything of them -- Solzhenitsyn

Tyrannos omnes oportet perire — “It is fitting that all tyrants perish”

The true Christian should not resign himself to the inevitable: he should trust in the impertinence of a repeated prayer. -- Don Colacho

Political tags — such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth — are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire. The former are idealists acting from highest motives for the greatest good of the greatest number. The latter are surly curmudgeons, suspicious and lacking in altruism. But they are more comfortable neighbors than the other sort. -- Robert A. Heinlein

When law and morality are in contradiction, the citizen finds himself in the cruel dilemma of either losing his moral sense or of losing respect for the law -- Bastiat

The tank, the B-52, the fighter-bomber, the state-controlled police and military are the weapons of dictatorship. The rifle is the weapon of democracy.

If guns are outlawed, only the government will have guns. Only the police, the secret police, the military. The hired servants of our rulers.

Only the government -- and a few outlaws.

I intend to be among the outlaws. --Edward Abbey from “The Right to Arms”