Buh-Bye Dollars

Are you ready to have your head explode? Coming in the first hundred days of the Fresh Prez of Bill Ayer's reign:
"Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration."
And we all know how well the SSA is doing. Now for the money shot, where they admit they're not human because humans make mistakes:
"All workers would have 5 percent of their annual pay deducted from their paychecks and deposited to the GRA. They would still be paying Social Security and Medicare taxes, as would the employers. The GRA contribution would be shared equally by the worker and the employee. Employers no longer would be able to write off their contributions. Any capital gains would be taxable year-on-year.Analysts point to another disturbing part of the plan. With a GRA, workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.Another justification for Ghilarducci’s plan is to eliminate investment risk. In her testimony, Ghilarducci said, “humans often lack the foresight, discipline, and investing skills required to sustain a savings plan.” She cited the 2004 HSBC global survey on the Future of Retirement, in which she claimed that “a third of Americans wanted the government to force them to save more for retirement.”"
I dunno where she got that crap global survey, but Congress critters are a lower form of life, so let's experiment with them. If it's such a shit-hot idea, all government employees should test it for two years before inflicting it on the country. Of course, we have the shining example of Argentina to light our way with the Argentine economy cratering as we speak. But that's just because there are incompetents running their system. We have the right people in power now to make it work. What say you, Hopey McChange?

"In the interview, Obama said, “The Supreme Court never ventured into the issues of redistribution of wealth, and of more basic issues such as political and economic justice in society.” The Constitution says only what “the states can’t do to you. Says what the Federal government can’t do to you,” and Obama added that the Warren Court wasn’t that radical."

Straight from the horse's anatomy.