True to my word, I spared myself the agony of listening to the President’s State Of The Union address last night. From what I’ve read this morning there were no surprises from Mr. Obama. As expected, the President pretended to be the Champion of the Middle Class and as expected the policies he promoted will do nothing but hurt the Middle Class. I’m talking about his proposal to raise the minimum wage and his offer to create a way for Americans to create a savings plan, which he dubbed, myRA accounts. Let’s talk about these ideas separately.
As expected, President Obama pushed to raise the minimum wage from $7.50 to $10,00 per hour. He announced that HE had signed an Executive Order to do just for the workers on all new federal contracts. Here’s a question for you. How many federal contractor workers make minimum wage? One percent? Two percent? It’s not many, is it? And, here’s the irony of the Left’s push to raise the minimum wage. Ask a liberal this question. If it is a good idea to raise the minimum wage from $7.0 per hour to $10.00 per hour, Why would it be better to raise it to $1000.00 per hour? They will laugh at you and say that would destroy the economy, right? So, they don’t want to destroy the economy. They just want to make it bleed a little bit. IDIOTS!
But, raising the minimum wage wasn’t the most egregious part of Mr. Obama’s plan to help the Middle Class into the poor house. Let’s move along.
From the Fox News report on Obama’s SOTU, we learn:
Among the other executive actions Obama is vowing to take is a plan described as “starter savings accounts.” Obama said he’d launch “myRA” accounts to help people save for retirement – under the rough outline of the plan, the accounts would be offered, via employers, through a Roth IRA account and backed by the government.
Obviously, President Obama has a very, very low opinion of the American people. One would have to be certifiably insane to trust the federal government to safe guard their hard-earned savings. Think about it. President Obama is asking Americans to trust the same government that long ago broke open the Lock Box where excess Social Security contributions were stored and replaced those funds with worthless I.O.U.’s., the same government that has allowed te Medicare program to be bankrupted, the same government that has made the American education system the worst in the developed world, the same government that is destroying the health care system in America, the same government that is using the IRS to intimidate its political enemies, the same government that is using the Justice Department to intimidate reporters they don’t like, the same government that is using Homeland Security to militarize our local and state police forces, and the same government that uses its NSA to spy on everything Americans do. Americans are supposed to trust that government with their savings? In a pig’s eye! Like the meme of old, Remember the Alamo, the good people at Zero Hedge suggest another meme, Remember Poland! What should you remember about Poland? This:
Poland Confiscates Half Of Private Pension Funds To “Cut” Sovereign Debt Load
- Government has too much debt to issue more debt
- Government nationalizes private pension funds making their debt holdings an “asset” and commingles with other public assets
- New confiscated assets net out sovereign debt liability, lowering the debt/GDP ratio
- Debt/GDP drops below threshold, government can issue more sovereign debt
You think that couldn’t happen in America? Zero Hedge reminds us of what the CFPB was suggesting a year ago:
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
That’s one of the things we’ve been exploring and are interested in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.
President Barack Obama is not the Champion of the Middle Class. He is the worse enemy the Middle Class has ever had!
Well, that’s what I’m thinking. What are your thoughts?