Thursday, July 14, 2011

Why is the government in Argentina nationalizing all private pensions?

Why is the government in Argentina nationalizing all private pensions?
Some excerpts: Here's an excerpt from The Wall Street Journal story covering this outrage: "Mrs. Kirchner won't have trouble making the case for expropriation to Congress, which is controlled by her fellow Peronists. When the Argentine government ran out of money in 2001, it blamed the market and increased its own role in the economy. Since then it has imposed price controls, defaulted on its debt, seized dollar bank accounts, devalued the currency, nationalized businesses and tried to set confiscatory tax rates with the aim of making society more 'fair.'" http://online.wsj.com/article/SB122471757680560465.html Do you think the Democrat party would have trouble getting something like this by the U.S. Supreme Court? Remember, please, Kelo vs. New London. Also consider the recent forced seizure of a good portion of several large financial institutions in this country. Could something like this happen in an Obama administration? What are your thoughts?
Politics - 9 Answers
Random Answers, Critics, Comments, Opinions :
1 :
That is next on the Democrats agenda for change. The change they are speaking of is going from a democracy to a socialist dictatorship.
2 :
Our pensions are already covered but in the 80's under Reagan many were raided and lost leaving millions without their retirement checks . No protection existed back then and today it is all secured and insured .. NOw its not secure from the ups and downs of the market .
3 :
I think that even if thats what they want they would never admit that it could turn out like that.
4 :
I say let S. America have its socialist agenda. They resist all efforts to make themselves anything but stong, so do it. They will see, like the nordic countries have seen, that socialism just increases taxes for useless programs, ties the hands of the government to special interest unions, and raises unemployment considerably because true entrepreneurial folks have no incentive to start businesses that are going to ultimately be controlled by the government. So, in summary, let them do it and find out the hard way that they are misguided. Then they can go from being 50 years behind the rest of the world to 500 years behind, just like the countries in the Middle East. Maybe then they will even set up Monarchies again! How wonderful.
5 :
The most frightening scenario is the government seizing assets from the population. We are on that path now. I have doubled my income over the past 10 years and I am still in the same house living the same lifestyle. NY State makes sure of it by taking 20K in taxes from me along with 1/3rd going to Federal. It's virtually impossible to live the American dream anymore, and so many voters plan to vote to take even more for THEMSELVES. They believe the government will solve their problems despite the overwhelming proof that it is the problem. Ask them to prove that Social Security and Medicare (2 largest programs other than the military) and they respond with rhetoric and attacks on how racist and cold hearted we are. Both are on the verge of bankruptcy, and those who pay most of the bills keep getting nailed by our own government that acts like they care. They are no different than the Mafia. They make the rules and you shut up and pay or they'll throw you in jail. Edit: WHY DO THEY ALWAYS THUMBS DOWN THE TRUTH????? a bunch of F*&King thieves! Brainwashed kids who are voting for more stuff. This is where my hard earned money goes. 90% of property taxes go to the union, and all these kids on here don't even understand it. They listen when the unions talk about "the children" but ignore the cold hard statistics. http://www.myshortpencil.com/teachersalaries.htm There is another article somewhere on the percentage of NY State pension checks that are mailed to winter homes in Florida. The poor unions. They make twice what you do because their pension is worth millions, and they don't pay state taxes.
6 :
I think Democrats will do what is needed for the economy to bounce back, as oppose to Republic party who is driven by free market mindless ideologues.
7 :
I think it will happen here. It would only take two more liberal Judges on the Supreme Court to pull this off.
8 :
Most definitely. It IS a form of socialism and it would only outrage anyone who has ever worked for something in their lifetime. But those people arent voting for Obama anyway. The ones voting for him are those who dont have a pot to piss in or a window to throw it out of, and they fail to possess a willfull urge to go out and get anything for themselves. A majority of them anyway. Of course, you do have these college brats whos tuition was probably paid for by retirment 401k savings and what have you. Bottom line is anything is possible. I would see that going over about as well as a turd in a punch bowl though, because, afterall you are talking about someones "life savings". Thats a tough pill to swallow especially when you didnt even vote for the guy. Lets say that did happen or even if a "scare" that it was a likely possibility, arent 401k plans locked in to where you cant possibly drain them if needed or stipulations must be met if you try to withdraw the money? I never liked the idea of me saving money I wasnt able to touch...
9 :
This may not happen immediatly under Obama, but he will certinly set the stage for such a takeover.



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