Here we go again.

That paragon of economic virtue, Teresa Ghilarducci has surfaced once more to expound the benefits of the government taking over seizing confiscating stealing your 401k “for your own good.” I wrote about this little banshee back in May, after O’biden made a slip of the tongue with regard to their plans for redistributing your retirement nest egg. Now, it appears she has been gaining ground with her arguments because, as Doug Ross points out, it’s not off the table. In fact, your 401k may be part of the main course for the upcoming lame duck session of Congress.

Doug writes:

…I am not a conspiracy theorist. But I can put two and two together. Earlier this evening Papa B pointed me to an oozing secretion from the Puffington Roast, which markets the idea that 401(k) retirement savings accounts are evil and should be abolished.

He goes on to detail Mzzz. Ghilarducci’s well laid plans to confiscate your dough.

Guilarducci and the Democrats are advocating legalized theft of the juicy trillions of dollars Americans have saved in their retirement plans. Nationalizing those accounts would support massive new spending programs plus payoff the unions and crony capitalists looking for more bailouts at the “workers'” expense.

Please do read the whole thing. Then listen to the interview she gave with Mark Levin in October of 2008. It’s linked in the Doug Ross article but just in case, here is the link again.

I also find it worth noting that:

Mz. Ghilarducci was named by US News and World report as the Most Dangerous Woman in America back in 2008. It appears they may have been on to something.

And, Mz. Ghilarducci “at times” has been a member of the Democratic Socialists of America, a fact noted in their National Political Committee meeting minutes of Sept. 28-29, 2009 as being considered for Vice Chair. – Thanks Wikipidia.

Keep your eyes peeled, folks. They’re not done by a long shot.

But neither are we.

  • CGHill October 19, 2010 at 8:18 pm

    I don’t have an enormous sum tucked away in 401(k), but I’ll dump it in a minute rather than let those hyenas get their paws on it.

    • mnrobot October 19, 2010 at 10:30 pm

      I’m with you CG. The contract is there. We both signed it. If you want to change the rules, then grandfather what I’ve already saved. Otherwise, it’s theft. Straight up. But everyone knows that’s not what this is about.

  • […] Democrats Still Drooling Over Your 401(k) […]

  • theCL October 19, 2010 at 8:49 pm

    I’ve written about why in numerous posts. This is the predictable act of a failing empire’s desperate Ruling Class. History does repeat itself. America is not immune. We’re on a burning platform, and “We the People” better get uber-serious right quick!

    Budget, budget, budget, slash spending, slash spending, slash spending. Departments must be abolished. Europe must defend herself. We can’t tame the fire, we must put it out!

  • John Carey October 19, 2010 at 9:10 pm

    I’m with CL on this one. Time to roll up our sleeves and get to work. I’m tired of kicking the can down the road when it comes to spending and entitlement programs.

  • Matt October 19, 2010 at 10:55 pm

    This is predicable. They were floating this right after Obama’s inauguration. When they say that they are going to do something, you can never take silence as evidence that they have stopped.

    I too, agree with CL. We’ve been focusing on elections, which is good, but we also have to put ENORMOUS pressure towards exactly what CL suggests. The federal government doesn’t need trimming, it needs radical surgery…right now!

    • theCL October 20, 2010 at 1:45 pm

      Which is why I’m so disappointed, yet not surprised, that Republican (Tea Party no less) candidates refuse to rattle off massive spending cuts. I’m sorry, but politicians must prove themselves to me before I trust them, “team” affiliation is meaningless.

      Mark my words, Republicans will disappoint, as they always have. There is nothing new under the sun. Nobody likes to hear this, but it is the truth. Give your faith to God, not politicians. What more can I say?

      THERE IS NO MONEY! For anything! Zip. Zero. Nada. Stick a fork in it. Either we have serious discussions about ending the Fed, closing the Dept. of Education, absolving the police state, ending entitlements, ending military welfarism, etc., we’re doomed. Literally.

      America will remain a country of course, but not even the little bit of liberty we have left will remain. Without liberty, who cares? I sure don’t. Give me liberty or give me death!

  • Randy_G October 20, 2010 at 5:28 am

    My 401k (as are most) is just now healed up from the last few years. Any chance the wizards in washington know that?

  • Kurt P October 20, 2010 at 11:14 pm

    I already spent mine.
    After hearing about stealing it twice, I cashed it in and paid taxes and bills.
    Figured if anyone was going to spend it, it should be on something that actually helped me.

  • GrizzlyMama October 25, 2010 at 3:05 am

    I, too, heard about this diabolical plan right after BHO was elected. I immediately cashed mine in – paid the fine – and I refuse to open one. I would rather stuff my mattress or bury it in the backyard like grandma used to do.

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