moves to control Internet, grab retirement funds must be stopped
April 26, 2012
from this page
broadcaster Glenn Beck moved some of his operations from cable television
to the Internet just for the greater freedom it allows him to say
what’s on his mind and what’s in his heart. And he,
too, is warning about federal interference in cyberspace.
year, heavy public resistance to proposed legislation supposedly
dealing with online piracy, the U.S. House’s Stop Online Piracy
Act (SOPA) and the Senate’s Protect Intellectual Property
Act (PIPA), put a stop to those bills and thwarted federal plans
to get a foothold in the Internet.
local congressman, Republican U.S. Rep. Dennis Ross, was an early
co-sponsor of SOPA.)
presidential candidate Ron Paul, a congressman from Texas, is sounding
bells about another Internet-related bill. This one goes by
the acronym CISPA — the Cyber Intelligence Sharing and Protection
Act — and at this writing, it has just passed the House by
a 248-168 vote. Paul and other opponents warn that the act, if it
becomes law, would greatly expand the government’s ability
to snoop through the records of millions of people who use Internet
services like Google and Facebook. (That would be most of us, of
let anyone in government tell you that all of these honorable-,
logical- and reasonable-sounding proposals are good for us and essential
for national security. They’re all about control — more
government control over our Internet-dominated lives, less privacy
and further intrusions on individual liberty.
In the financial
realm, people in government and some of their friends outside of
government have talked quite openly and for quite some time about
the “need” for a federal takeover of private pension
funds and other retirement plans, such as the millions based on
simple 401(k) accounts.
Among the more
well-known proponents of such a move is the (so-called) Rev. Jesse
Jackson, he of the Rainbow Coalition (a race-bating front to shake
down millions of dollars from corporations), anti-Semitism and adultery
— and father to at least one love child.
Those who propose
a federal takeover of private retirement funds say they just want
to protect the fund owners from “unscrupulous” and “corrupt”
money managers and negative free-market forces. Don’t
believe that for a moment. This is nothing but an attempt at a money
grab — a huge money grab.
What the politicians
and bureaucrats really want is control over the billions and billions
of dollars in these retirement funds and the means for a practically
insolvent government to spend it.
Controlling — and bankrupting — Social Security isn’t
enough for these people. They want the private monies that millions
of Americans have set aside for their retirement years.
And don’t think that this attempted money grab is limited
to the federal government. People in various state governments have
the same idea.
In February, a California Democrat, state Sen. Kevin De Leon, proposed
a plan to create a retirement savings plan for an estimated 7 million
private-sector workers who don’t have job-related retirement
De Leon said his savings plan, which on the surface sounds like
good idea, is designed to supplement Social Security benefits. It
would allow workers to put 3 percent of their pay into an investment
pool that would be managed — get this — by a new state
Keep in mind that Califonia is on the brink of financial default,
with mumblings and rumblings in government and the media there about
the possible need for a federal bailout.
Also keep in mind that, based on De Leon’s own estimates,
the board overseeing his proposed savings plan could manage up to
$6.6 billion in investments in just the plan’s first year.
That’s $6.6 billion more than the California government currently
has to spend on foolish things.
The proposed savings plan automatically would enroll workers across
the state, but De Leon has offered assurances that workers could
choose not to participate.
That prompts this question: Once the state starts feeding on this
new source of easy money, just how long would the voluntary savings
plan be voluntary?
Skepticism prompts this answer: Not long.