Barack Obama and the Democrats' Plans for Nationalized Healthcare and Ending 401(k)'s Will Bring Back the GOP
If Sen. John McCain or some of his high-level campaign staffers knew how to run a presidential campaign, they would have turned information such as this, presented by my U.S. News colleague James Pethokoukis, to voters, combined with Senator Obama's "spread the wealth around" comment. If they had, McCain's poll numbers would look a lot better than they do at this late date.
Yes, too many Americans (unfortunately, in my view) want nationalized healthcare. Yes, they want Social Security to be made fiscally sound. But do they want Daddy Government to reach this far into their beloved 401(k) retirement plans and wreak fiscal havoc? Methinks not. Jimmy P. reports:
House Democrats recently invited Teresa Ghilarducci, a professor at the New School of Social Research, to testify before a subcommittee on her idea to eliminate the preferential tax treatment of the popular (401 (k)) retirement plans. In place of 401(k) plans, she would have workers transfer their dough into government-created "guaranteed retirement accounts" for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return. Rep. Jim McDermott, a Democrat from Washington and chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, said that since "the savings rate isn't going up for the investment of $80 billion [in 401(k) tax breaks], we have to start to think about whether or not we want to continue to invest that $80 billion for a policy that's not generating what we now say it should.
Puh-leeze, just how stupid do Democrats think each one of us is? I can see it now, President Obama and the "tax and spenders" in Congress will seize victory and turn it immediately into disaster by raising taxes, reinstating the inheritance tax, and nationalizing healthcare. (OK, I won't call it "socialized" healthcare.) Thereby they will catapult middle-income Americans and independent voters into a speed run back into the GOP camp—a re-creation of the so-called Reagan Democrats of the 1980s. Didn't they learn from their congressional losses in 1994? Didn't they learn from having to swallow eight years of the most incompetent White House governance we've ever seen (George W., that is.) Apparently not. In fact, apparently not at all.
Tags: Democrats | healthcare | presidential election 2008 | social security | Barack Obama | 401(k) | government intervention
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Reader Comments
comments to c a long of OH
"Insurance companies are in the business to make money. Often times they DENY coverage to those that they insure. Do you really think they care about your well being? Hardly!!!"
Politicans are in the business of fame, power and money (and women). Often times they are puppets of special interests to keep thier jobs and perks. Do you really think they care your well being? Hardly!!!
I have never seen a government system run well - refer to education, DMV, post office, even the prison system.
"There are others ways to do things. We are not always the RIGHT way because we are the USA!"
Well, I am sure that's why people from all over the world flock to the U.S. because their own countries are so right they would rather come and experience the misery with Americans in the United States.
Final thought: I grew up in a foreign country, one that Americans always try to emulate the culture, exercise, medicine, furnishings, etc. Well, the people there sure think Americans are stupid and naive (because they make comments like those above) and are to be taken advantage of. That is why they love American tourists. They go home and laugh about them at night. And no matter how right some Americans think my native country is, I can honestly say NO WAY IN HELL will I ever move back there. I think United States actually had it right (when I moved here in the 80s). And even though it is now rapidly moving in the direction of being not so right (Its becoming where I came from, ugh!), it is still SO MUCH BETTER than anywhere else.
insurance companies care?
Insurance companies are in the business to make money. Often times they DENY coverage to those that they insure. Do you really think they care about your well being? Hardly!!! Everyone should view the PBS Frontline documentary by T. R. Reid "sick Around the World" and see how other countries provide health care for all of it's citizens. There are others ways to do things. We are not always the RIGHT way because we are the USA!
http://www.pbs.org/wgbh/pages/frontline/sickaroundtheworld/
Good Idea or Bad Idea-Pros and Cons
I'm an American (born and raised) that has lived and is currently living overseas (England, Scotland and Algeria now).
During this time I have seen how a nationalized healthcare system works and I can understand both the pros and the cons of this system.
In the UK you pay 11% of your total salary, on top of the normal taxes, to fund the healthcare system whether you use it or not. Currently private healthcare options are popping up in the UK which offer shorter waiting for more major things such as transplants, surgeries etc etc. Everyone contributes the poor pay much less and the rich pay much more. There isn't a cap. People who smoke or are obese are not penalized or charged more, they offer help for people to stop smoking, or to lose weight (This is a pro for the person and the government.
As for any government service-there are always winners and losers. The world is not ideal. People will take advantage of whatever they can.
I think we should wait and see what exactly this bill entails on a nationalized health scheme and make sure that it is fair for all-rich, poor, sick, healthy.
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