if Barack Obama is elected, he’s not going to turn the U.S. into a socialist state (at least I don’t think he will). You will be surprised what happens when he gets the major majority that is expected and he will not veto the Dems efforts to move toward socialism. Try reading "Rules for Radicals." Obama has the methods down pat with the "Rules for Radicals" most often mentioned word CHANGE.
Find the following article @ SouthCoast com
Frank envisions post-election stimulus from Democrats
"In a meeting with the editorial board of The Standard-Times, Rep. Frank, D-Mass., also called for a 25 percent cut in military spending, saying the Pentagon has to start choosing from its many weapons programs, and that upper-income taxpayers are going to see an increase in what they are asked to pay."
Google this one and if read today you can find the link on Drudge. This article contains very alarming discussion.
House Democrats Aim to Remove 401k Tax Breaks
Powerful House Democrats are eyeing proposals to overhaul the nation's $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.
A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller's Education and Labor Committee on her proposal.
At that hearing, the director of the Congressional Budget Office, Peter Orszag, testified that some $2 trillion in retirement savings has been lost over the past 15 months.
Under Ghilarducci's plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.
I have read proposals that if there is anything left in your 401k you cannot will more that 50% of the remaining amount to your heirs. If that is not socialism I can see it and smell it from here Michael but hope you are right.
Keep up the good work reporting on the War on Terror that under Obama will have another more PC name and get back to us here in the US and find out what is really happening here. Your good words may let you report longer. In Florida difficult questions to Biden has caused the Obama and the Dems in a non negotiable comment excommunicated this TV station from interviews with the nerve to ask questions they do not want to answer. So keep this in mind because this cabal will not like news that does not flatter them so be warned by this news.
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