On the heels of the ever popular socialized health care plan, we have the Service Employees International Union (SEIU), a powerful union and Washington lobby, looking to get their hands on your retirement plan.
It makes sense, of course, in a world of entitlement and forced mandates, that you are incapable of making your own retirement decisions:
One of the nation’s largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new “retirement system” for the United States.
In effect, government pensions for everyone, not unlike the European system and regardless of personal choice.
The SEIU, which was integral to the election of Barack Obama as president, is working with the left-leaning Economic Policy Institute (EPI), and the National Committee to Preserve Social Security and Medicare, on SEIU’s plan, called “the Retirement USA Initiative.”
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The proposed retirement system would be operated under the following parameters:
• Benefits that move with you, even if you change jobs
• Payouts only at retirement
• Shared responsibility among employers, the government and employees
• Pooled assets, controlled by professional investment managers
“The financial crisis and the economic recession have shone a spotlight on the inadequacies of today’s system,” said Stephen Albrecht, director of benefits for SEIU.
Yes, the current system is “inadequate.” But only because the current system has operated under a veil of Marxist policies.
We have a centrally planned economy controlled by a shadow banking system run by the Federal Reserve. We have laws on the books that do everything but promote innovation and growth in small business. We have one group of individuals forcefully burdening another group by taking wealth from those who have the ability and transferring to those who have a need.
Let’s do more of the same – in fact, let’s put total control of everything from mortgages to health care to retirement planning in the hands of the government.
A free market, laissez faire system couldn’t possibly be the solution.
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YUP , and these thieves and robbers will get it too . EVERY dime ! So your choices are : use it or Loose it . Its up to you .
Good grief! What else are they going to tell us they need to take care of for us…oh yeah….salt, fat, sugar, Happy Meals…when to get up, when to go to bed….Pandora’s Box has officially been opened! I had no idea I was so incompetent!!!!! Talk about stirring up at least some of the masses! I hope people are starting to get really fed up……..
My group of friends with “We Are Change” went to Dc for the protest against the the wars waged as genocide in the middle east. Regardless of what some of you folks feel this, atleast some people in this great idealogical farce., still beleive in the “idea” of resistance. What I found in our capitol was something I cannot find words for. The DAMN SEIU was funding, and organizing a ralley for the immigration reform bill. I saw 100,000 Latino marching for a yet to be disclosed bill, funded by American trade union dues. WTF..is going down, if WE… don’t put this shit down soon we will not have another chance!  Â
That’s why none of the other unions, (including the one I belong to) will have anything to do with seiu. Â They march to the beat of their own drummer and don’t give a damn…………
Or you could leave the country with your money (after pulling it out of all the retirement plans and other assets you have) and moving to a coutry that is ‘friendly’ to expatriates and their money.
ForceRecon — that’s what I’m thinking. Cash out NOW. Â
I have mixed feelings about a public retirement social safety net, but I don’t think I would mind a minimalist (i.e., will pay for a shack and some beans) fund for those who have no other resources. Not our current system, and certainly not moving the cheese on those of use who have been responsible savers.Â
The assumption that social security and DB pensions would be all you need has lead to very bad behaviour (no savings to speak of). Why would you? My mother just retired from a public school system and between the two she makes more in retirement than she did working! And she’ll draw it for a longer period of time (30 years work vs. living to 100 as my relatives all seem to do). My dad is worse, doubling up on retirement from the military after 20!!!! years (it just occurred to me last night if I’d done the same thing, I’d be retiring in a year!)  No wonder all these schemes are going broke. But to raid savings is criminal. And this SEIU isn’t the only proponent of this measure. Scary stuff.
Don’t want to sound like a Moody Blues song but my advice is to “go now”.
“go now”. good song. but where? i mean physically. where to go?
short of chucking it all in and driving a harley from place to place, live free or die! where do you suggest?
robert61 , Take a good look at PANAMA ! for several good reasons , first the major language spoken is english , second the the money thay use is the US dollar ! Third , Rents are inexpensive if you do some research and take some time . It depends on if you want to live in a big city or in the country . if you like the ocean you are in luck plunty of places to go for that. Panama has NO huricanes ! It does have a rainy season and the carribiean side is the wettest the pacific side the sunnyest . Start at : http://www.panama-tourism.com lots of good info there. next : http://www.panamainfo.com . and : http://www.panamainsider.com In case you haven’t guessed I have been thinking of panama as well and have been doing my homework . GOOD LUCK … ABN 71
If you really want to leave, Canada, Australia, and New Zealand are probably your best bets, but it also depends upon your age, talent, education, cash, and language skills.
Personally, I could see a scenario for Scandinavia, Russia, or the Ukraine. That would work if you married a local and had assets or an income stream from assets, or social security. If you are single and married to a local it might work. To relocate a family would be very difficult.
The Poles for example, came to the Midwest after WWII and worked in the manufacturing plants, then returned to Poland with US Social Security and lived quite well with the exchange rate. Some Canadians I know, and US residents, have moved to Mexico or Panama. Panama if you are a financial professional.
South America is too corrupt and culturally diverse for me.
Comments…..If you really want to leave the Bahamas is a very good place to consider for many tax reasons including no inhieritance tax no capital gains tax ect. You can become a citizen if you own property there worth more than 250,000, in most areas. Plus you dont have to give up your American citizenship if you dont want to. Look up Abaco island or Spanish Wells. You will be surprised. This is where the loyalist fled the U.S. during the Revolution. Their desendents are still there.
delilah: If you don’t give up your American citizenship you will have to pay taxes on anything you make offshore over 70K.
The problem with the Bahamas and other islands, is that they don’t have much of a future with the oceans rising as they are. Even Panama might be suspect for that reason. One island that India and Bangaldesh have been wrangeling over, just disappeared beneath the waves. The Maldives are slowing drowning, and other islands will be at risk soon enough. Palm Island in Abu Dahbi anyone?
Find some high ground.
There is absolutely NO WAY I would move to Canada. Why would I want to move somewhere to get more of the same of what we have coming? I have a friend in Canada who just told me she pays 40% income tax, in addition to all the other taxes on goods, property, etc. The property and cost of living is RIDICULOUS. And for all that they pay in taxes, the only thing they have that we don’t (but will be forced to) is medical insurance. They still have to pay for eye, dental, and prescriptions, or purchase their own insurance for those things. Why would one want to move there? You’ll be stuck with the same crap here, soon enough. :-/
Oh, and they are on a waiting list to see specialists … AFTER they get a referral. She said it could be as long as 6 months before she even gets a call from a specialist that she has already been referred to, just to schedule an appointment. This appointment is for her 18-month-old child with an unexplainable, recurring rash (and that just doesn’t begin to explain how scary this “rash” is). There are serious diseases that could be a symptom of, but her government-based insurance plan doesn’t give a crap. “Just wait it out and hope you don’t kick the bucket before it’s your turn.” You know what they do if they feel it’s an emergency and they don’t want to wait? THEY CROSS THE BORDER AND COME HERE! That’s in her own words.
Sorry, I shouldn’t have based that on her insurance plan, but the unavailability of medical care that their system has caused. And don’t think it won’t be the same here.