Larry Caldwell wrote:

In article ,
(badgolferman) says...
Voluntary? Please translate the below paragraphs for me to
understand better:

"Testifying for the House Committee on Education and Labor,
Ghilarducci proposed that the government eliminate tax breaks for
401(k) and similar retirement accounts, such as IRAs, and
confiscate workers’ retirement plan accounts and convert them to
universal Guaranteed Retirement Accounts (GRAs) managed by the
Social Security Administration."

OK. Roughly translated it goes: "We are a lying sack of **** right
wing propaganda organization dedicated to injecting fear into the
populace in an effort to bring down the US government."

If you want to read the actual testimony, it is short and direct.


http://www.house.gov/ed_workforce/te...hilarducci.pdf

You will notice it has no resemblance to what the lying sack of ****
right wing traitors said.

As has been mentioned a prepared statement and how the actual
question/answer session went will be entirely different. The truth is
probably somewhere in between the two articles.

I did notice in the link you provided the professor's short term plan
was carefully worded to include words like "let workers trade in" and
such. However the long term plan made no mention of voluntary GRAs and
the return rates were paltry over the long term in relation to stock
market options. The point is there will be no capital making its way
into the economy through business, it will all be controlled by
government bureacracies which will grow bigger and more inefficient
over time, just as they are now.

I freely admit much of this economic mumbo-jumbo is beyond my
understanding but the basic concept of forced savings, no choices, free
market anathema, increased government coffers doesn't sit well with me.
I am not in favor of increased government control over the finances and
lives of citizens and greatly resent the attitude of those who think
they know more than us how to run our lives. Let government clean up
their own spending habits before they take away our money for our own
good. This plan is merely another method of redistribution of wealth
and it is all about creating more power for government.

--
"Underlying most arguments against the free market is a lack of belief
in freedom itself." ~ Milton Friedman