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General Electric Company Message Board

  • rembrandt.john rembrandt.john Nov 18, 2012 9:44 AM Flag

    Soon Obama will take 401K's

    Social security - bankrupt - means testing has started.
    Pensions - Government sets mandates on the BENEFIT...............now they are about gone
    Health care - US companies offered as a benefit........government sets mandates.......soon will be gone
    401K's - set as a benefit........government now tracks your contribution and balance.......soon will be government mandated and used for means testing

    What's left for them to screw up next ???

    Sentiment: Sell

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    • Under Obmacare the government has the right to remove money from your checking accounts, without your approval. They are taxing the sale of your home. They are taxing the various medical items you need. The more government takes from you, the more you are a slave of the state. Democrats were the party of slavery, share cropping, and now share working. They seek to impoverish more and more people; while enriching the totally corrupt people who work for the government.

    • Face it. The United States *is* a European style social democracy. The transition started in the 1930s and was significantly advanced by Johnson. Even Bush Jr. contributed to the move by adding the drug benefit to Medicare.

      The problem is that the revenue strategy doesn't match the expenditure obligations. And it isn't just the rich that need to be taxed for heavily... it's everyone.

      It is not possible to provide the services of a 21st century Social Democracy with the funding strategy of a 19th century Republic.

      No American, whether Republican or Democrat, wants to eliminate Social Security, or Medicare, or any of a host of other programs. So the level of taxation MUST increase. That will mean higher income taxes.

      And, because of the *size* of the unfunded government liabilities, it will also require taxation of accumulated wealth. That can be accomplished in several ways including:

      - Nationalization of all pension assets
      - Annual tax on accumulated wealth
      - Higher estate taxation, either through elimination of the exemption, higher tax rates or some combination

      The mechanism of the revenue increase isn't as important as the realization that it MUST take place. We cannot keep "kicking the can down the road". America *is* a Social Democracy; there is no going back. It must tax itself like a Social Democracy. There is no choice. None.

    • Dems need the money to buy votes so they can stay in power.

 
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