When I googled this, I found page after page of conservative bloggers warning of this “confiscation.” I didn’t see any liberal blogs reporting on this nor any traditional media. I finally found a reference to the hearing on a couple of Congressmen’s sites and that’s where I got the above information. Neither representative’s site I looked at endorsed any of the 10 or so plans they’ve heard about.

By Karen McMahan

November 04, 2008

RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.

Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.

The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers’ retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.
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That’s just great. I guess if are going to sh–it, I mean socialist, this is just one step along the way. If we are turning into France, at least Brad will finally be able to use his vast collection of manpurses (i.e. European Carry-alls) in public.

all controlled by the Deomcrats

At the Federal level at this time we are a left leaning country. On the big ticket issues voters went to the left. The last I checked 52% or 53% is more than half. The majority of props went to the right. I think that is because these issues are voted on at the state level. The percentage of voters is less. If these issues are voted on at the national level, I think they pass at about the same percentage as the popular vote for president. And I would not be surprised to see this left leaning government tackle some of these same props.

Right or wrong the reality in the public’s eye is that Bush is to blame for what is wrong with the country. It did not take a genius to see that the public felt that way. The Reps seemed to not acknowledge this fact. The Reps ran a scattered campaign. They did not connect with the voters. The Reps did not have a plan to respond to the issues that counted with voters. Some of the maneuvers by the Reps seemed gimmicky or insincere. The Reps have their base, but you can not win on your base voters alone. The Reps better hope that the Dems can not keep the current momentum and use this election to transform their base. If that happens we might see a filibuster proof Congress and Senate during the mid-term elections. The Dems are better organized. The Dems have focused on the big electoral states like Ohio and Fla and have taken those states from the Reps. I bet you see a lot of Reps crossing the line to vote with Obama – trying to keep their jobs.

TB and MD in 2012!!!!!

Yes it is an urban vs. non-urban split but urban is where a large portion of our country lives. NYC alone houses half the population of that State. Maps skew the perception because the visual is about the land area not population.

Sweet I’m glad you got a chuckle out of my lesbian comment maybe it will be Cheney’s daughter.