Category Archives: Big Brother

Now for something completely different, socializing your 401K

Rush Limbaugh was talking about this today, so I had to check it out.

From Investment News, here.

Congress mulls major 401(k) changes

By Sara Hansard
October 7, 2008, 5:18 PM EST

A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans.

Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans.

This was suggested by the chairman of the House Committee on Education and Labor.

“With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said.

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.

It goes on to say that a “Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds”.

There are so many things that tick me off about this.  Let’s review them:

“Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans. ”

To me, that means your 401K won’t be tax deferred any more.  You’ll get taxed on that money as income, taxed on any profits you receive, you may be taxed on any match your employer provides, you’lll get taxed when you receive that money (who knows if you’ll be able to withdraw it early), taxed when you spend that money and you’ll get taxed on any of that money that’s left when you die.  Talk about breaking the back of the American people.

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.

That suggests that this gentleman that money I’m investing is his money and he can’t get his grubby mitts on it and he’s pissed about that.  Look at what he says here:  “We’ve invested $80 billion…”   Wait a minute.  You’ve made no investment.  It’s money I’ve earned.  It’s not your money.  It’s not money you are giving me or investing for me.  It’s MY MONEY.  Until Mr. Obama is elected, I am not required to turn my earnings over to the state and wait for the state to give me back the share they want me to have.

The U.S. tax system is unfair enough, but for this man to imply that because a dollar that hasn’t been taxed is fair game for the government to come after…WHO ARE THESE PEOPLE?

“Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds”.

Let’s read that again…Guaranteed Retirement Accounts… Isn’t that what Social Security started out being?  Look what’s happened to that.  It’s been borrowed from, reallocated, stolen and misused for years!  And now we’re going to set up another, similar program?   Congress refused to consider privatizing Social Security, and now they want to socialize your 401K.

Stand up people.  Be heard.  Vote those out who are not listening.

Refuse to become France.  Stand up before it’s too late.

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Filed under Big Brother, Duct tape zone, Left and Right, Politicians

Big Brother and YOUR environment

Big Brother is attempting to control your electricity. Only during “emergencies” now, but what will that lead to?

CALIFORNIA SCHEMIN’
Big Brother to control thermostats in homes?
Proposed mandate would grant utility companies unlimited remote access to regulate temperatures


Add thermostats to the list of private property the government would like to regulate as the state of California looks to require that residents install remotely monitored temperature controls in their homes next year. The government is seeking to limit rolling blackouts and free up electric and natural gas resources by mandating that every new heating and cooling system include a “non-removable” FM receiver. The thermostat is also capable of controlling other appliances in the house, such as electric water heaters, refrigerators, pool pumps, computers and lights in response to signals from utility companies. If contractors and residents refuse to comply with the mandate, their building permits will be denied. The proposal, set to be considered by the commission Jan. 30, requires each thermostat to be equipped with a radio communication device to send “price signals” and automatically adjust temperature up or down 4 degrees for cooling and heating, as California’s public and private utility organizations deem necessary. Claudia Chandler, assistant executive director for the California Energy Commission, told WND the new systems would be highly beneficial to residents. The Programmable Communication Thermostat, or PCT, will allow power authorities to control home temperatures while denying consumers ability to override settings during “emergency events.” Nowhere in the proposal does it clarify what type of situation would qualify as an “emergency,” but Chandler offered her own explanation: “An emergency is when the utilities need to implement rolling blackouts and drop load in order to be able to meet their supplies because the integrity of the grid is being jeopardized.”


She claims residents will be able to manually override controls in all cases, but the 2008 Building Efficiency Standards (Page 64), known as Title 24, specifically states: “The PCT shall not allow customer changes to thermostat settings during emergency events.”

Michael Shames, executive director of California’s Utility Consumers’ Action Network, told WND he believes the idea of a chip consumers are unable to override is not feasible. While he considers the technology to be a positive development, he said denying consumers control over their own appliances is a highly problematic concept.

“The implications of this language are far-reaching and Orwellian,” he said. “For the government and utility company to say, ‘We’re going to control the devices in your house, and you have no choice in that matter,’ that’s where the line is drawn. That sentence must be removed.”

Additionally, no provisional exceptions for people with health conditions worsened by excessive temperatures are mentioned in the current proposal; however, the Energy Commission spokeswoman said existing supply problems are more worrisome to Californians with health issues than the projected solution.

Concerned California residents expressed outrage with the proposal in several online postings:

“I hate this state. Why don’t we just fly a communist flag while we are at it? We are planning a move out of state. I’m done.”

“This is insane. Please, everyone reading this, take action. Write your representatives, call the RINO governor, call your local radio programs and, lastly, write letters to the editors of your local papers. Dear God, just when I thought California couldn’t get much worse!”

Other opponents of the state proposal expressed concern that its mandatory nature is a sign of increasing “Big Brother” government control.

Read the entire article here .

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