DEMOCRAT TAX PROPOSAL from clinton. will kerry like it?
Posted: Tue Mar 09, 2004 7:05 pm
JUST A REMINDER
Many of you are quite proud of the balances that you have built up in your retirement 401K plans. Nice going. You actually deferred gratification and have set aside something for your retirement.
Well, I don't want to bust your bubble, but it might be a good idea if you keep in mind what the Democrats were cooking up back during the early years of the Clinton presidency ... just before the evil Republicans took control of the congress. Democrats, you see, were upset with the billions upon billions of dollars that were sitting in various pension, retirement and 401K plans. All that money was just sitting there earning interest for the pension plans and the owners of the 401K plans. Wow! Just imagine how many votes could be bought if the politicians could just get their hands on some of that money. So ... a plan was being hatched to do just that.
The plan? Simple. The government would just levy a one-time tax against the outstanding balances of all extant pension and retirement plans, including 401K plans, in the amount of 15%. That's right ... the government would just waltz on in, take 15% of your 401K, tip its hat and leave. The justification argument would go something like this: "These Americans who have been fortunate enough to invest in 401K plans and who are lucky enough to work for companies with retirement and pension plans have benefited from the hard work of those who have not been as lucky. These people will hardly miss that 15%, but that money will go a long way to provide the basic needs of millions of less fortunate Americans."
Also ... don't forget another favorite Democratic idea. ETIs. That's "Economically Targeted Investments." This wonderful Democratic plan doesn't actually take your pension funds, it just tells you where you can and where you cannot invest them. Under this grand Democratic plan the government would set standards for companies in which you could invest qualified retirement funds. And just what would those standards be? Well, let's start with "union friendly" for one. You just use your imagination for the rest of the list.
Oh ... and don't forget to vote Democrat! You can be the cause of your own financial destruction!
http://www.boortz.com
vote for him and find out.
Many of you are quite proud of the balances that you have built up in your retirement 401K plans. Nice going. You actually deferred gratification and have set aside something for your retirement.
Well, I don't want to bust your bubble, but it might be a good idea if you keep in mind what the Democrats were cooking up back during the early years of the Clinton presidency ... just before the evil Republicans took control of the congress. Democrats, you see, were upset with the billions upon billions of dollars that were sitting in various pension, retirement and 401K plans. All that money was just sitting there earning interest for the pension plans and the owners of the 401K plans. Wow! Just imagine how many votes could be bought if the politicians could just get their hands on some of that money. So ... a plan was being hatched to do just that.
The plan? Simple. The government would just levy a one-time tax against the outstanding balances of all extant pension and retirement plans, including 401K plans, in the amount of 15%. That's right ... the government would just waltz on in, take 15% of your 401K, tip its hat and leave. The justification argument would go something like this: "These Americans who have been fortunate enough to invest in 401K plans and who are lucky enough to work for companies with retirement and pension plans have benefited from the hard work of those who have not been as lucky. These people will hardly miss that 15%, but that money will go a long way to provide the basic needs of millions of less fortunate Americans."
Also ... don't forget another favorite Democratic idea. ETIs. That's "Economically Targeted Investments." This wonderful Democratic plan doesn't actually take your pension funds, it just tells you where you can and where you cannot invest them. Under this grand Democratic plan the government would set standards for companies in which you could invest qualified retirement funds. And just what would those standards be? Well, let's start with "union friendly" for one. You just use your imagination for the rest of the list.
Oh ... and don't forget to vote Democrat! You can be the cause of your own financial destruction!
http://www.boortz.com
vote for him and find out.
