Thursday, February 28, 2013
"The Feds Want Your Retirement Accounts"
See if these paragraphs get your attention...
At AmericanThinker.com, John White includes these in his posted article:
" On Nov. 20, 2007, Theresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, presented a paper proposing that the feds eliminate the tax deferral for private retirement accounts, confiscate the balance of those accounts, give each worker a $600 annual 'contribution,' assess a mandatory savings tax on every worker and guarantee a 3 percent rate of return on the newly titled "Guaranteed Retirement Accounts," or GRAs.
How would that be accomplished? The Carolina Journal reported Ghilarducci's 2008 testimony to Nancy Pelosi's House.
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."
