USA TAX REFORM HINT & FINANCIAL INTELLIGENCE CORRUPTION RISK ANTICIPATION DOSSIER.
06/09/2010 23:30
EMPLOYMENT WITH FISCAL 0.3% RATE CREDIT OFFER ON UNEMPLOY WELFARE JOBS CUTS INSURANCE TAX SHARE, NOT ON BANCROPTCY, OVER BIG EMPLOYERS TAX EXEMPTIONS WITH T30 LONG TERM SOCIAL SECURITY SECURITIZATION PUT BUDGET DEFICIT DISCOUNT BILL.
To create employ with the new economic package of 0.3% rate Fiscal Credit offer to the little-medium companies new entrepreneurs plans, over the joint business projects Cooperatives Multi Holding IPO’s in the Stock Exchange Borse. Give a tax exception prize to big employers and in the case of jobs cuts share the unemployed welfare insurance right actual tax, with T30 Long Term Social Security Securitization Put Budget Deficit Discount Bill. Will do the Employment Creation Growth with the sure Social Rights by the U.S. Government administration responsibility owe accomplish.
I hope was my add be over your glad attentions by the Democrat team sense one effort for the right social economic hi raise,like -the country of opportunities American dream- World Economic USA Leadership, forever show the right excellence path.
| Obama Budget Plan Raises Employer Issues The $3.5 trillion budget unveiled Thursday includes proposals to reform health care, expand unemployment benefits and require employers to automatically enroll workers in retirement accounts. Comments 3 | Recommend 41 February 27, 2009
Obama Budget Plan Raises Employer Issues
Among the most notable ideas proposed by President Barack Obama in his $3.5 trillion budget unveiled Thursday, February 26, is a big-ticket health reform plan and a proposal to require employers to automatically enroll employees in retirement accounts.
Though details remain sketchy, here’s a quick look at some of the ways employers might be affected:
Retirement
Addressing low savings rates among U.S. workers, the proposed budget states that employers that “do not currently offer a retirement plan will be required to enroll their employees in a direct-deposit IRA account that is compatible with existing direct-deposit payroll systems.” Employees could opt out but would automatically be enrolled in a retirement account if they did nothing. Health care
Among the bigger-ticket items is health care reform. Other than setting aside $634 billion as an initial earmark for reforming the country’s health care system, the budget proposal offers few details. It does state that the administration’s plan would give workers the option of keeping their employer-based health plan. The proposed budget also mentions—but does not endorse or reject—other health reform ideas such as capping the tax exclusion for employer-sponsored health insurance.
Unemployment insurance
Under the heading “Extend, Expand and Reform Unemployment Insurance Benefits,” the budget proposal would curb benefits fraud that, according to the Office of Management and Budget, cost taxpayers $3.9 billion in 2008. It calls for increased “funding for program integrity” and legislative changes to reduce employer tax evasion. Immigration
Having taken E-Verify off the table in the stimulus package, the system that checks new-hire information from I-9 forms against Social Security and Department of Homeland Security databases, is now back in the proposed budget with $110 million to expand the program. Federal wage reporting
The budget contains a proposal to increase the frequency employers report wages to the Social Security Administration. Currently, employers report employee wages to the federal government once a year using W-2 forms. The administration says more frequent reporting would improve tax administration and make it easier to implement their proposal to institute automatic enrollment into retirement savings accounts. The administration says it will work with states so that “the overall reporting burden on employers is not increased.” 
 The demonic cabal and its Wall Street lackeys are increasing their attacks on Social Security:
All of this current deception is in addition to their continually peddling the BIG LIE that Social Security is inevitably going bust.
Their BIG LIE is a swindle to loot Social Security!
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This Social Security trust fund system is one of the few programs set up by the federal government that continues to operate successfully. To take a sample year, in 2002, the SSS received $627 billion in checks, $453.8 billion in taxes, and an additional $49 billion in interest. Instead of red ink, Social Security made almost $102 billion in profit, to add to the trillions it has in surplus from previous years.
Cabal puppet politicians never mention that the Social Security system has been compiling a huge surplus since it was created. Why? Because they've been using (stealing) that surplus for years to hide the real size of the current federal budget deficit, allowing them to spend more and justify tax cuts for the wealthy. US Office of Management and Budget (OMB) data show that while government’s reported deficit averaged about $300 billion a year from 2002 to 2006, the real current deficit was actually more than 50 per cent larger. The government just "borrows" about $160-$200 billion from the Social Security Trust Fund every year--under the table. In 2007, the real deficit was $449 billion according to the OMB. However, the "official" deficit widely reported was only $257 billion, because it's government policy to add the borrowed Social Security Trust Fund surplus ($192 billion in 2007) to revenues before calculating the "official" deficit.
The cabal wants to pillage social security because it's where a big pile of money is--in the TRILLIONS!
The federal government runs the scam of placing the Social Security fund within the federal budget, as if it were merely a part of the revenue stream. Social Security is not an "entitlement program" paid for by government taxes. It is a completely separate program with its own revenue stream and retiree payments. Social Security is paid for by employees and employers, as is Medicare. The benefits provided by Social Security are earned, not bestowed by the government.
In a February 2005 propaganda rally in North Carolina, Bush lied that there is no Social Security trust fund: "There are empty promises," the president said, "but there's no pile of money that you thought was there when you retired. That's not the way the system works."
This is the same treacherous Wall Street stock market in which witless investors lost between $700 million and $1 trillion on December 6, 1996, the DAY AFTER Greenspan had admitted that the stock market was in trouble because of what he called "irrational exuberance." In other words, Greenspan himself intimated that the stock market might be in for a new speculative disaster on the order of the Great Crashes of 1929, 1987, 1998, and 2000--but that American workers should put their money in this Big Casino so Wall Street can loot their billions in retirement funds.
Every day the feeding frenzy accelerates, with President Obama, columnists, and other sycophants falling into step, warning us that the Social Security System is facing disaster. Fortunately, some leaders have the courage to speak the truth. Dubya's earlier panel was chaired by Senator Daniel Patrick Moynihan (D:NY) and AOL Time Warner's CEO, Richard Parsons. This notwithstanding AOL Time Warner's payment of $5.5 million in 2000 to settle a lawsuit alleging the company illegally denied pension and health benefits to its workers.
Panel projections took the Social Security System trustees' worst-case scenario and claimed it to be the only realistic picture of the future for the SSS. The so-called independent studies of Social Security funding have been financed by the very Wall Street firms who want to grab the money. For example, the Cato Institute Project on Social Security Privatization was funded by American Express, the brokerage house of Alex Brown and Company, and the giant American International Group. The co-chairmen of the Cato Institute project are William Shipman, a senior officer at the Boston State Street Bank, and Jose Piñera, the man who privatized Chile's social security system, resulting in a $1.5 billion loss to Chilean citizens in 1995.
Panel projections took the Social Security System trustees' worst-case scenario and claimed it to be the only realistic picture of the future for the SSS. The so-called independent studies of Social Security funding have been financed by the very Wall Street firms who want to grab the money. For example, the Cato Institute Project on Social Security Privatization was funded by American Express, the brokerage house of Alex Brown and Company, and the giant American International Group. The co-chairmen of the Cato Institute project are William Shipman, a senior officer at the Boston State Street Bank, and Jose Piñera, the man who privatized Chile's social security system, resulting in a $1.5 billion loss to Chilean citizens in 1995.
Privatization schemes are PIRATIZATION scams. The same Wall Street firms who contribute big bucks to the campaigns of presidents and senators now want to loot the Social Security System of trillions of dollars and jeopardize the survival of millions of retired Americans.
The Bush junta so controlled the press and Republican politicians that it forced "reporters" and Congresspersons to use the words "personal accounts" instead of "private accounts." This is because one of spinmeister Karl Rove's focus groups indicated that people, particularly older people, react negatively to any connection between Social Security and the word "private." The group liked the sound of "personal accounts" better than they did "private accounts."
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Now that the corruption of Wall Street and private financial institutions is evident for everyone to see, it would be insane for Americans to allow Wall Street brokerage firms to handle the Social Security System trust fund. One of the privatization schemes has been created by a group whose name is right out of 1984: the Quadrennial Advisory Council on Social Security. Their plan is to have individual workers put 5% of their income into a private IRA, leaving the other 1.2% for the Social Security fund. So you lose your retirement fund through your IRA gambling scheme--and who's going to take care of you when you retire?
Wall Street is pumping millions of dollars into a small band of organizations, public relations firms and "think tanks" whose mission it is to undermine public confidence in Social Security and push for privatization.
The Piratization Plan
Obama appears to be moving toward a Social Security "piratization" plan similar to Bush II's that calls for diverting 2% of today's workers' Social Security payroll taxes into private Wall Street accounts. Obama and his Federal Reserve and Wall Street co-conspirators will try to get you to think that this refers to a measly 2% of the entire Social Security reserve fund, but it actually means 2% of the 12.4 percentage points of total salary that now go into Social Security payroll taxes--one-sixth of the total payroll tax money. Under this scenario, Social Security would lose one-sixth of the money that now flows in, representing a staggering $74 billion loss to Social Security the very first year!
The cabal and Wall Streeters want you to invest in a giant crap shoot that in the last ten years has seen investors losing TRILLIONs in investments.
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Obama appears to be moving toward a Social Security "piratization" plan similar to Bush II's that calls for diverting 2% of today's workers' Social Security payroll taxes into private Wall Street accounts. Obama and his Federal Reserve and Wall Street co-conspirators will try to get you to think that this refers to a measly 2% of the entire Social Security reserve fund, but it actually means 2% of the 12.4 percentage points of total salary that now go into Social Security payroll taxes--one-sixth of the total payroll tax money. Under this scenario, Social Security would lose one-sixth of the money that now flows in, representing a staggering $74 billion loss to Social Security the very first year!
Individual stock market accounts would cost a bundle. We'd have to pay for two Social Security systems at the same time: today's program for current beneficiaries and the privatized system. To cover the price tag, we'd have to choose from various adjustments--all of which are bad choices.
It's clear from Obama's selection of his cabinet and advisers that he intends to attack Social Security. He's created an economic advisory panel heavily weighted with mandarins who are on record that Social Security must be privatized. The advisory panel is headed by former Federal Reserve Board chief Paul Volcker and includes General Electric Chief Executive Officer Jeffrey Immelt as well as James Owens; Richard Trumka, AFL-CIO secretary-treasurer and former United Mine Workers president; one-time Securities and Exchange Commission head William Donaldson; Clinton administration economic adviser Laura D'Andrea Tyson, now dean of the Haas School of Business at the University of California-Berkeley; and Martin Feldstein, President Ronald Reagan's chief economic adviser and current Harvard University economics professor.
It's clear from Obama's selection of his cabinet and advisers that he intends to attack Social Security. He's created an economic advisory panel heavily weighted with mandarins who are on record that Social Security must be privatized. The advisory panel is headed by former Federal Reserve Board chief Paul Volcker and includes General Electric Chief Executive Officer Jeffrey Immelt as well as James Owens; Richard Trumka, AFL-CIO secretary-treasurer and former United Mine Workers president; one-time Securities and Exchange Commission head William Donaldson; Clinton administration economic adviser Laura D'Andrea Tyson, now dean of the Haas School of Business at the University of California-Berkeley; and Martin Feldstein, President Ronald Reagan's chief economic adviser and current Harvard University economics professor.
Symptomatic of the anti-Social Security bias of the panel, Martin Feldstein has a long record of agitating for Social Security privatization, writing numerous articles for Cato Institute publications advocating his own piratization scheme.
The Vultures Are Circling Social Security
The Wall Street Journal let the cat out of the bag, announcing that even under moderate privatization plans, $60 billion a year would flow into mutual funds managed by Wall Street, instead of going into the Social Security Trust Funds.
The Wall Street Journal let the cat out of the bag, announcing that even under moderate privatization plans, $60 billion a year would flow into mutual funds managed by Wall Street, instead of going into the Social Security Trust Funds.
Michael Tanner, director of health and welfare studies at the Cato Institute (read big money think tank), let slip the other incriminating evidence when he admitted that along with Bank of America, Citicorp, Chase, insurance companies, the Investment Company Institute (ICI), and securities firms like Salomon Brothers, Cato's $2 million privatization project is being funded by "large employers concerned about payroll tax increases." Privatization of Social Security would mean billions of dollars for Wall Street mutual funds managers and employers. The gang that brought you the 1929, 1987, 1998, 2000, and 2007 stock market crashes resulting in hapless investors losing trillions of dollars are now trying to con Americans into putting their retirement earnings into Wall Street.
But with the trillions in profits at stake the big money people are mounting a campaign to convince Americans that Social Security is dead or dying. As usual, they suppose that if they tell a big enough lie American citizens will swallow it. The Investment Company Institute, which by the way, "donated" $245,264 to federal candidates in the 1996 election; Peter G. Peterson, an investment banker, Nixon's commerce secretary, and president of the conservative Concord Coalition; and the libertarian Cato Institute are leading the pack. Their uninformed disciples repeat their propaganda in newspaper letters to the editor and commentaries and magazine articles. The newest cons include trying to convince citizens that Social Security funds invested in U.S. Treasury bonds don't really exist and that the Chilean privatization plan is a model America should adopt.
But with the trillions in profits at stake the big money people are mounting a campaign to convince Americans that Social Security is dead or dying. As usual, they suppose that if they tell a big enough lie American citizens will swallow it. The Investment Company Institute, which by the way, "donated" $245,264 to federal candidates in the 1996 election; Peter G. Peterson, an investment banker, Nixon's commerce secretary, and president of the conservative Concord Coalition; and the libertarian Cato Institute are leading the pack. Their uninformed disciples repeat their propaganda in newspaper letters to the editor and commentaries and magazine articles. The newest cons include trying to convince citizens that Social Security funds invested in U.S. Treasury bonds don't really exist and that the Chilean privatization plan is a model America should adopt.
If you have money in U.S. Treasury bonds or other securities, you expect to get your interest and capital when you redeem them. But, mysteriously, it's claimed that Social Security funds in those same instruments can't expect a return on the investment. Why? Because the scam artists say so. In fact, following the lead of the Concord Coalition and the Cato Institute, the disciples are claiming that Social Security is a giant Ponzi scheme. THAT IS AN OUTRIGHT LIE! A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors and ultimately fails because the criminal behind it steals all the money. Social Security is NOT an investment scheme; it is a retirement fund that receives money from workers, pays out money to retired workers, and makes money from its purchase of treasury bonds. It is the farthest thing from a Ponzi scheme.
Privatized Retirement Systems Have Failed Wherever They've Been Tried
Everywhere "private retirement accounts" have been tried--as in Chile, Argentina, Poland, Sweden, Britain, and Texas!--workers have lost billions of dollars and been left without funds for their retirement.
In 1981, three counties in Texas decided to opt out of Social Security and instead provide their public employees with a system of privatized accounts. A study compared two sets of families in three different income brackets. The graph shows what happened to their retirement in 2005 under Social Security and under the Texas plan. By the time these couples reach age 80, the gap will be over $1100 per month.
Let's Eradicate The Vultures
There is no crisis over the solvency of Social Security; it's all a political scam trying to destroy the future of a program started in 1935 that means the difference between life and death for more than 40 million elderly Americans.
American workers must wake up to this present frenzied effort on the part of Big Money to take over the trillions in social security funds. Americans of all ages must tell our congressional representatives that we don't want the Social Security System to be piratized and that we hold them responsible for making sure it doesn't happen. We must speak out against this conspiracy wherever we can.
In 1981, three counties in Texas decided to opt out of Social Security and instead provide their public employees with a system of privatized accounts. A study compared two sets of families in three different income brackets. The graph shows what happened to their retirement in 2005 under Social Security and under the Texas plan. By the time these couples reach age 80, the gap will be over $1100 per month.
There is no Social Security Crisis! That's merely a cabal BIG LIE. The only present crisis is the very real possibility that Americans will be confused by all the smoke and mirrors created by the Wall Street people who want to pillage the Social Security System. |
American workers must wake up to this present frenzied effort on the part of Big Money to take over the trillions in social security funds. Americans of all ages must tell our congressional representatives that we don't want the Social Security System to be piratized and that we hold them responsible for making sure it doesn't happen. We must speak out against this conspiracy wherever we can.
Social Security was created to protect society from the social and economic burdens associated with widespread old-age poverty and misery as seen during the 1930s Depression which was precipitated by the 1929 stock market crash.
Americans with incomes under $25,000 a year get back more in benefits than they pay in the form of Social Security payroll taxes. Those with incomes of more than $50,000 a year get back somewhat less. The U.S. Social Security system is a progressive system — a system designed to improve the economic condition of those at the very bottom of the U.S. economic ladder and reduce economic stratification.
American citizens need to remember President Franklin D. Roosevelt's reply when he was asked why he had set up Social Security as a worker contribution system: "We put those contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program."
American citizens need to remember President Franklin D. Roosevelt's reply when he was asked why he had set up Social Security as a worker contribution system: "We put those contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program."
Unfortunately, FDR never conceived that a cabal such as is now in control of America would have the gall to LOOT Social Security for the benefit of the ruling plutocrats.
This is a matter of life or death for the millions of people on Social Security. The cabal behind the Bush II junta--and now Barack Obama--wants to wipe out all those who are now receiving Social Security benefits, so they can loot the trillions in the Trust Fund that we've paid into it. Obama is saying that he won't cut off people from Social Security who are already receiving it. And we can believe him, right--about bringing change and hope? (Think about his reactionary cabinet and his going back on all his 2008 presidential campaign promises.)
This is a matter of life or death for the millions of people on Social Security. The cabal behind the Bush II junta--and now Barack Obama--wants to wipe out all those who are now receiving Social Security benefits, so they can loot the trillions in the Trust Fund that we've paid into it. Obama is saying that he won't cut off people from Social Security who are already receiving it. And we can believe him, right--about bringing change and hope? (Think about his reactionary cabinet and his going back on all his 2008 presidential campaign promises.)
In the face of such unmitigated criminality, American citizens must do everything possible to save Social Security--and our lives.
Updates
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Automatically Generated Transcript (may not be 100% accurate)
" Posted you're for a one lately is not a pretty sight. 60% of Americans own a 41... "
For additional information:
- Answering lies about Social Security
- National Committee to Preserve Social Security and Medicare
- 2/13/05: Social Security Network
- 2/13/05: Century Foundation
- 3/7/03: Campaign for America's Future
- Social Security Q & A
- AFL/CIO
- Social Security Links
Title:
Government Takeover of 401k?
Published: Tue, 18 Nov 2008
Description: Would the government takeover your 401k?
"SOME TIME GO BACKWARDS MEANS MOVES FORDWARDS"
Best, Al Rovati.
*****ONE*****