{"id":3046,"date":"2010-12-05T19:57:55","date_gmt":"2010-12-06T00:57:55","guid":{"rendered":"http:\/\/angry.net\/blog2\/?p=3046"},"modified":"2017-02-14T05:30:34","modified_gmt":"2017-02-14T10:30:34","slug":"seizing-401ks","status":"publish","type":"post","link":"https:\/\/angry.net\/blog2\/?p=3046","title":{"rendered":"Seizing 401K\u2019s"},"content":{"rendered":"

Way back when, (July 5, 2010) I wrote a \u201cWhat If\u201d story<\/a>. This story presumed that the House and Senate went to the Republicans in a big way. As we have seen, the house did in fact revert to the Republicans in a big way and the senate, while remaining Democrat, has seen a large number of incumbents being thrown out.<\/p>\n

My story revolved around a lame duck session of Congress and what games the now defeated members would play. Little did I know I was seeing the future.<\/p>\n

It looks like Sen. Tom Harkin, (D \u2013 Iowa) is proposing just that. He wants to seize the 401K accounts and use the money to fund the pension systems of the unions. The unions have a massive unfunded liability, and most of them are, for lack of a better term, broke. \u00a0Since Harkin is a bought and paid for lackey for the unions, this comes as no surprise.<\/p>\n

They even have a name for this POS. It\u2019s called a “Guaranteed Retirement Account” (GRA) and this stupid idea was dreamed up by one Theresa Guilarducci ((Theresa Guilarducci)) Director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research.<\/p>\n

In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a “fair” pension to everyone using that confiscated money coupled with the mandated contributions.\u00a0 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. ((New Lame Duck Threat to Bailout Union Pensions by Connie Hair))<\/p>\n

As I have noted in the past, the progressives have despised the 401K and IRA accounts since they can\u2019t access that money to pay off their cronies. The fear now is that they might try and slip this crap into something during the last few weeks of the 111th<\/sup> congress.<\/p>\n

Obviously, the political class is still in complete denial with regards to the recent election. They\u2019re also quite bitter that the people have told them to take a hike. Without a doubt the members of the political class intend on punishing the voters for actually paying attention to what they\u2019ve been doing and forcing them to stop.<\/p>\n

There is just one small problem with this idea. If they manage to pull this off, everyone will go apeshit. The old saw about the guns coming out of the closet? In this case they will! The Progressive political class essentially stealing 10+ TRILLION dollars and transferring it to their Union paymasters will result in a violent reaction.<\/p>\n

The life spans of members of congress who vote on this, not to mention Obama, will be measured in weeks. Even worse, the Presidential Security detail will be put into the worst position they could ever imagine. A flat out armed rebellion with tens of thousands, possible hundreds of thousands of armed Americans moving into Washington. They would have to know that if they tried to stop them, these people would wipe them out. In short order, this country would be turned on its head and \u201cReally Bad Things\u201d would happen.<\/p>\n

We must avoid this, and the best way is to watch these idiots like a hawk and make sure they don\u2019t try this. Hold their feet to the fire ((Figuratively speaking of course)). In a few short weeks, the current crop of criminals will be out and we will have a new crop who have listened to the people and will work to reign in our out of control government.<\/p>\n

We must be ever vigilant.<\/p>\n

~The Angry Webmaster~<\/em><\/strong><\/p>\n

Way back when, (July 5, 2010) I wrote a \u201cWhat If\u201d story. This story presumed that the House and Senate went to the Republicans in a big way. As we have seen, the house did in fact revert to the Republicans in a big way and the senate, while remaining Democrat, has seen a large number of incumbents being thrown out. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","footnotes":"","jetpack_post_was_ever_published":false},"categories":[3,37,71,8,35],"tags":[11,3,12,17,8,21,24,27],"class_list":["post-3046","post","type-post","status-publish","format-standard","hentry","category-crime","category-liberty-politics","category-news-of-the-day","category-politics","category-tyranny","tag-america","tag-crime","tag-freedom","tag-liberty","tag-politics","tag-scams","tag-socialism","tag-totalitarianism"],"views":1348,"jetpack-related-posts":[{"id":13155,"url":"https:\/\/angry.net\/blog2\/?p=13155","url_meta":{"origin":3046,"position":0},"title":"America held Hostage, Day 9 of the Obama Shutdown","author":"Angry Webmaster","date":"October 9, 2013","format":false,"excerpt":"Good day all, We are no in the 9th day of the Hostage Crises. Barack Obama and Harry Reid, rather then try to work some sort of a compromise have actually doubled down. Harry Reid has announced that he wants a $1.1 TRILLION dollar increase in the debt authorization, no\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/angry.net\/blog2\/?cat=176"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2013\/03\/hitlerOBAMA_2.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":11772,"url":"https:\/\/angry.net\/blog2\/?p=11772","url_meta":{"origin":3046,"position":1},"title":"Strike TWO for the NLRB","author":"Angry Webmaster","date":"May 16, 2013","format":false,"excerpt":"Back in 2012, President \u201cKnows Nothing\u201d decided on his own that Congress was in Recess and appointed three members to fill opening on the National Labor Relations Board. 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Of course, Schumer promptly doubled down on stupid by saying the PLFD\u2019s need to convince people that more government control of America is what\u2019s needed.","rel":"","context":"In "Just Desserts"","block_context":{"text":"Just Desserts","link":"https:\/\/angry.net\/blog2\/?cat=135"},"img":{"alt_text":"recovering dumbass","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2014\/10\/recovering-dumbass-300x219.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10445,"url":"https:\/\/angry.net\/blog2\/?p=10445","url_meta":{"origin":3046,"position":3},"title":"Senate Republican vote for suicide","author":"Angry Webmaster","date":"January 1, 2013","format":false,"excerpt":"Well well well, as expected, the cowards pretending to be Republicans in the Senate have completely caved in to Obama\u2019s Marxist demands and voted for $41 dollars in new taxes for every $1 dollar in cuts.","rel":"","context":"In "Jobs"","block_context":{"text":"Jobs","link":"https:\/\/angry.net\/blog2\/?cat=141"},"img":{"alt_text":"foreward over the cliff","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/05\/foreward-over-the-cliff-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":45788,"url":"https:\/\/angry.net\/blog2\/?p=45788","url_meta":{"origin":3046,"position":4},"title":"Federal Unions are not happy with the potential shutdown","author":"Angry Webmaster","date":"October 1, 2025","format":false,"excerpt":"Good day all. I had intended to post this on Sept. 30th, but real life got in the way. On October 1st, the Federal Government\u2019s authority to borrow money runs out. At that point, the only money that the government can spend is what comes in through taxes, tariffs, fees\u2026","rel":"","context":"In "Jobs"","block_context":{"text":"Jobs","link":"https:\/\/angry.net\/blog2\/?cat=141"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.pinimg.com\/736x\/3b\/ee\/72\/3bee721dfc6ab4641785e4818debe1a0.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":46587,"url":"https:\/\/angry.net\/blog2\/?p=46587","url_meta":{"origin":3046,"position":5},"title":"Time to change the Filibuster?","author":"Angry Webmaster","date":"February 17, 2026","format":false,"excerpt":"Good day all. Since the foundation of this country, one of the rules of the United States Senate was the use of the Filibuster to slow down or stop bills from progressing. 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