The government is preparing to seize the private 401(k) pensions of millions of Americans while enforcing an additional 5 per cent payroll tax as part of a new bailout program that will empower the Social Security Administration to redistribute pension funds in a frightening example of big government gone wild.
Public pension plans have been so aggressively looted already by the government that cities and counties face a $574 billion funding gap, according to a CNBC report.
That black hole is set to be filled by a new proposal that will “fairly” distribute taxpayer-funded pensions to everyone, by confiscating the private wealth of millions of Americans. Its proponents express staggering arrogance in thinking that they can just steal money people have worked for decades to accrue as if it’s their own.
Not only would the government confiscate 401(k) pensions, it would also impose a mandatory 5 per cent payroll tax payable by everyone, according to a hearing chaired last week by Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee.
“This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending,” writes Connie Hair.
The hearing was a platform for advocates of Guaranteed Retirement Accounts (GRAs), a program authored by Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York. Back in November 2008, Ghilarducci testified to Congress that 401(k)s and IRAs should be confiscated and converted into universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.
“You don’t hold hearings on something you don’t intend to do,” points out the Market Ticker blog. “I hate it when I’m right. I hate it even more when tens of millions of Americans are going to get reamed to pay for the crimes of the handful on Wall Street, and their crony enablers in Washington DC.”
The GRAs would be enforced by means of a mandatory savings tax equating to 5 per cent of an individual’s annual paycheck deposited to the GRA. Social Security and Medicare taxes would still be payable, employers would no longer would be able to write off their contributions and capital gains would be taxable year-on-year. In addition, workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts.
During a Seattle radio interview in October 2008, Ghilarducci explained the motive behind the plan, stating, “I’m just rearranging the tax breaks that are available now for 401(k)s and spreading – spreading the wealth” (emphasis mine).
However, as we painfully learned in the immediate aftermath of the original $700 million dollar bailout, which was originally sold on the basis that it would be used to pay off bad debt, governments that propose “spreading the wealth” under socialist-style financial reforms almost always collect the wealth under the pretext of being the saviors before greedily hoarding it all for themselves.
The GRA program is being pushed by the Economic Policy Institute, an organization housed on the third floor of the building occupied by the George Soros-funded Center for American Progress. The Center for American Progress is a think tank headed by Bill Clinton’s former chief of staff John D. Podesta, who was also head of Barack Obama’s presidential transition team after the 2008 election.
In preparing to seize private pensions, the United States is going the same way as Argentinean government, which in 2008 nationalized the country’s private pension plans, known as AFJPs, confiscating the wealth of millions.
“We have no doubt that here the right to private property is being violated. Not just for us but for society and the world, this is a clear confiscation,” said opposition Radical Party’s Ernesto Sanz at the time.
How will Americans react to having not only their wealth but their nest egg for future generations brazenly confiscated by the government in one fell swoop? If this doesn’t prompt widespread rioting and civil disobedience in America on behalf of the besieged middle class then nothing will.
Don’t be under any illusions, if you don’t have a private pension and think this won’t affect you – think again. Once the pretext has been created that the state can simply confiscate privately earned wealth, they can then come after anything, your gold, your home, your kids and eventually your very freedom. Once the vampire of big government gets a taste for blood, the teeth will only sink in further, and America’s resemblance to third world tyrannies will rapidly accelerate.
*********why should this surprise anyone when all the bailouts in 2008 and 2009 went to the GREEDY banksters, most of them Jews (NO, I am not an anti-semite....what I stated is indeed a FACT). Notice how very few people called it exactly what it was......bank robbery or looting the American people. Why were not these elite banksters charged with literal bank robbery! Is it because of their so-called power. It truly should make everyone puck!!!
More and more wealth is being aggregated into fewer and fewer hands. Just look at who owns media. Most of them Jews whose main goal in life is amassing more and more wealth. George Soros is indeed a Jew as are the elite in Hollywood. This is why we do not usually get the TRUTH from media. Rupert Murdock.....prince of darkness.....owns just about every newspaper, magazine, and Television station. In fact many Brits can not stand the guy because he owns many of the British tabloids and newspapers. People REALLY need to open their eyes!
Rick Sanchez was just axed from CNN because he made a comment that Jews are hardly persecuted because they indeed own so much wealth which translates into tons of power and Rich Sanchez also stated that he, as a journalist, can not always speak the Truth because he is told what to say. What kind of a journalist are you when someone in power tells you what to say!
Rothchild, Bank of England.......all Jews! He loves to boast about his gold bars stacked to the ceiling in his large vault! These people are ruthless and are on a mission.....do your research people.....always look for the TRUTH.
I have said it before and I will say it again........whoever owns the Deutschmarks rules the world!****************
From Texe Marrs......
U.S.A. Death Knell: Our Fate Has Been Decided
"The American economy is in the grip of what the eminent Harvard Professor Joseph Schumpeter many years ago called, ‘creative destruction.' "................
Alan Greenspan
Former Chairman, Federal Reserve Board
"The thief cometh not, but for to steal, and to kill, and to destroy.".....John 10:10
America is dying, inflicted with a fatal, terminal disease. Few understand this. Most citizens are in denial. The glories of yesteryear—the halcyon days of Washington, Jefferson, Audie Murphy, and John Wayne—will return, the die-hard optimists say—"Just you wait and see."
But these bright-eyed people are wrong. No dreaded disease can be conquered by the misguided patient who fails to realize he is sick and dying. Knowledge leads to victory, and in America today, the people perish for lack of knowledge.
Cut Off From Our Roots
The reason why America is dying is simple. We have been cut off from our roots, including our Christian moorings, our Bill of Rights, and our patriotic heritage. All plants cut off at the roots eventually die, from lack of nutrition. The life force ebbs from their branches and leaves, and their limbs and vines atrophy and dissipate. So, too, do the limbs and constituent parts of nations die when separated from the nurturing substances that give them life.
America’s terminal illness is not an accident of fate. It is a planned event. This is the working out of "Rothschild’s Plan for America," a plan which I detail at length in my CD/audiotape offering of the same title.
The greedy Rothschild is a thief, a global thief, and as Jesus told us, "The thief cometh not, but for to steal, and to kill, and to destroy."
America Battered by "Creative Destruction"
The Illuminati elite are deeply complicit in Rothschild’s thieving and murderous plan. They are willing tools of our destruction. Alan Greenspan, the crafty Jewish financier who served Rothschild and the elite cryptocracy as head of the Federal Reserve banking cartel during the administrations of both Presidents Bush (the younger George W. and the elder George H. W.) as well as President Clinton, significantly helped in the fulfillment of this heinous plot. Interestingly, Greg Kaza, in Chronicles journal (Jan. 2010), notes that Greenspan referred to America’s diminishing status twelve times during his reign as Fed Chairman, each time using the carefully crafted catch-phrase "creative destruction" first invented by Harvard’s economist, Joseph Schumpeter, in his 1942 book, Capitalism, Socialism, and Democracy.
Joseph Schumpeter’s book, Capitalism, Socialism, and Democracy, proposes that America be transformed through a process of "creative destruction."
Alan Greenspan, former chairman of the Federal Reserve.
It was Greenspan and his cronies-in-crime, Presidents Bill Clinton and George W. Bush, who oversaw the massive "credit bubble" brought on by the repeal of the depression era Glass-Steagall Act. This ingenious bit of Rothschild-generated treachery enabled the huge multinational banks and institutions (Goldman Sachs, Morgan Stanley, Lazard, Bank of America, AIG, et al) to create and pocket trillions of dollars of instant cash in the form of shadowy mortgage debt swaps and derivatives. Whack! In one fell swoop the Jewish and Israeli bankers harvested a bonanza and profit windfall, while the unsuspecting American worker was abruptly and violently sucked down the vortex of the banking toilet and into a cesspool of financial despair and panic.
All this mess was foreknown by Rothschild and associates. After all, they engineered it. It’s a masterful part of the classic process of Hegelian dialecticism played out, pitting the two great opposing forces of social progress, Capitalism and Communism, against each other in a devastating contest of efficiency and will.
Barack Obama Created For This Time
Barack Obama was created for just such a time as this. He will go down in history as the Great Hero who put the final touches on Rothschild’s diabolical Master Plan—the leader who put the nails in the coffin of Capitalism while enhancing the efficiency of the Big Brother Police State. The end result of this contest—the historical tug of war between Capitalism and Communism, the synthesis that is going to occur after all the blood is shed and society undergoes a drenching, stormy downpour of consummate evil—is that an entire new system of government, social life, and culture will be installed. Already, if we look clear-mindedly and objectively at the grotesque future that even now is pulling up at our doorsteps, we can make out the dim lines of the horror that shall shortly confront us.
Neither classic, pure Capitalism nor the Marxist/Leninist system of Communism is acceptable to the elite. Capitalism, therefore, is being quickly discarded, and Communism, having abjectly failed, is also thrown out. From, however, the rotting carcasses of these two outmoded systems, Capitalism and Communism, Rothschild and his associates are now ushering in a ruthlessly barbaric system for which I have coined the descriptive catch-word, Zio-Mammonism. It means the smashing of individual rights, the exaltation of Jewish supremacism, and the triumph of crass materialism (Mammon) over spiritual principles. Rothschild’s Plan for America will vault our once great nation to the very pinnacle of greed, hatred, and narcissism.
Lord Jacob Rothschild (above), his son Nathaniel, and other members of the Rothschild Dynasty have a Plan for America.
America Being Torn Down and Rebuilt
Greenspan, in a September 4, 1998 speech at the University of California, Berkley, informed his audience that the traditional American way, the now discredited Capitalism, is "being torn down and rebuilt." On December 4, 2008, another of the establishment’s favored pied-piper spokesmen, columnist George Will, wrote that Schumpeter’s "creative destruction" was underway, with the economy necessarily "losing tens of millions of jobs." Both Mr. Greenspan and Mr. Will are big cheerleaders for the debilitating process of creative destruction.
Even conservative columnist Thomas Sowell, an avid supporter of the Rothschild/Limbaugh/Reagan/Bush/Cheney/Rockefeller Free Trade agenda, joined in this historically corrupt quest for economic pick-pocketing, writing on December 17, 2008, that "creative destruction"—a good thing, he insists—means that American automakers and other manufacturers will just have to die and be replaced, having “outlived their usefulness.”
What of the millions of American workers left destitute? So what, say the "creative destruction" wrecking crew. "All’s well that ends well."
But, just how will it all end? What is the end-game of this destructive process? The often overlooked fact is that Schumpeter was a Marxist! And he, like Marx, foresaw the end of Capitalism and its replacement. The dialectical process would continue: evolution and revolution would eventually see to the demise of both Capitalism and it’s opposite, Communism.
Everything Must Change
But—and this is vital and important—it is not only the economy of America that is "being torn down and rebuilt." Zio-Mammonism, the new social system now being implemented as our nation is "rebuilt," requires that our Christian values must go, our morality and ethical systems must be deep-sixed, our whole way of life must be gutted. Satanism is the ultimate endgame. Satanism is slated to rise triumphant, like the fabled Phoenix rising from the embers and ashes of a consuming fire.
To insure this satanic end-victory, everything must change. The Washington-Jeffersonian constitutional model is abandoned, the Rothschild-Zionist Plan is installed and made operative. Hell on earth must be created. Death must be served.
No More Bridges to the Past
Bill Clinton saw it coming. He understood the vision. In 1996, the murderously lying and conniving adulterer Clinton told America, "We do not need a bridge to the past, we need to build a bridge to the future."
So the links to the past were jettisoned, and the bridge to the future was built, and now this bridge to the future is in its final stages of construction. Soon comes the ribbon-cutting and then... No more heritage, no more yesterday, no more past. It all goes into the Orwellian black hole of ancient history. Thus, we can see why Bill and Hillary Clinton’s 1992 Democratic National Convention motto and anthem was the musical refrain from that witchy group Fleetwood Mac’s hit song, "Don’t Stop Thinking About Tomorrow."
The New Paradigm: Zio-Mammonism
Yes, America is to have a new paradigm, Zio-Mammonism, designed by Jewish rabbinical philosophers and brought about by "creative destruction." It’s out with the old (the outmoded and valueless U.S. Constitution, Christian truth, freedom and liberty, etc.) and in with the new. Our future will become the numbing, godless insanity of a Talmudic culture ruthlessly guided and policed by Judeo-fascist elitism. Rothschild’s Plan of Zio-Mammonism is being implemented. Only the old-fashioned fuddy-duddies like you and me will resist. The ignorant masses are clueless.
Can we save things? Turn back the clock? I am not sure we can, but we must try. It will be difficult, however, to put the genie back into the bottle. Our future does, indeed, look grim. Satan is grinning, his kingdom is at hand and the deliriously joyful congregation of the Synagogue of Satan is applauding. Storm clouds are gathering. As that famous tune by Bob Dylan so sagely warned us, "It’s a hard rain’s gonna fall."
One last thought: "The death of America equals the birth of the Jewish Utopia." Is that what has long been heralded as the "New Order of the Ages?"