Welcome dear reader, to the most intense nightly read on the ‘sphere… BitsBlog’s Nightly Ramble.

  • I see Al Gore is still preaching Global Warming…At Harvard, no less… In spite of global cooling like we’ve not seen in over a century. Whoever said Gore made sense? There’s obviously a large number of idiots who still don’t get it. Which, in turn is what keeps Al’s private Jet in the sky, adding to the ozone problems he preaches at us about.
  • We keep getting charged with running a hateful campaign, we on the right, and yet the reality is quite different. Add this to the list I posted just last night.
  • So, now we have a study telling us what we already knew… the press is in the tank for Obama. Look, I don’t mean to diminish the work Kurtz is doing. He’s right to do it. But this stuff has been quite obvious for long enough to make it clear that the facts are going to be ignored. What price will we pay for that, I don’t know yet.
  • Some of the breakdowns of that AP poll I mentioned last night… the one where the race is tied… have started showing up. Boortz has some of the breakouts, and the tale they tell is interesting.

    McCain posted his biggest gains among voters earning under $50,000 a year. He used to trail Obama by 26%. Now he only trails by 4%. Could these be the people who are looking to a successful future, but don’t like the prospect of being punished for their success?

    The reason for things starting to turn around? Joe the Plumber. Now, maybe, we understand better why the Democrats have been so nervous about Joe. The Politico breaks this down pretty well.

  • Speaking of Boortz, I see him making mention of Argentina. If you’ve got a 401k plan, you need to stay with me, here.

    Lets see … for about 14 years now I have been telling you that the Clinton administration (mentioning his name isn’t racist) had been considering a plan to levy a one-time tax on the value of all privately owned pension and 401K plans in this country. The were stopped by the voter revolution of 1994 .. a revolution betrayed, by the way, by the Republican Party.Could something like this happen in an Obama administration? (OK, I mentioned his name. Hate speech! So I’m racist.) Maybe you should turn your attention to what is happening in Argentina. The Argentine president, Cristina Kirchner, has just announced that she is going to nationalize all private pensions in Argentina. That would be $30 billion in private retirement accounts. All that money is going to become government property.

    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.'”

    Dawgonnit! Now that sounds just a wee bit familiar, doesn’t it?

    Do you think the MoveOn Democrat/Socialist party would have trouble getting something like this by the U.S. Supreme Court? Remember, please, Kelo vs. New London.

    Oh, indeed. But at Q&O, McQ goes a step farther, this monring, saying in part:

    In anticipation of an Obama presidency and full dominance by Democrats in Congress, your 401(K) is now in jeopardy:

    Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
    House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.

    I don’t ever want to hear another word about “greedy Wall Street”. Democrats in Congress have been trying to find a way to get at the huge pool of money for decades.

    The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.
    A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered.


    “I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

    Under the current 401(k) system, investors are charged relatively high retail fees, Ghilarducci said.

    “I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ghilarducci said.

    Ah, a little “spreading of the wealth?”

    Indeed. Do you understand the depth of the problems America is inviting on itself giving these people the power of government? How can this stuff be any more obvious, people?

  • DNC-NBC has decided to team up with ACORN, and LaRoza. Gee, big shock, that. Like I said, how can this stuff be any more obvious, people?
  •  Orson Scott Card is pissed. Rightiously so. Little late for that now, Scott. Like Clinton said. Enjoy it.
  • Nothing attributable yet, but I’ve seen three times today, rumors that say Obama’s team is about to ask McCain to suspend his campaign while Obama’s visiting his sick grandmother. Of course, if McCain turns him down, Obama can say McCain’s a meanie. Of course, this tells us the Obama people are very worried, as I said the other day, that this downtime will cause Obama to lose.

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One Response to “Nightly Ramble:Your 401K Belongs to the Democrats; Global Warming, Still?; More Hate; More”


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