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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: rich4eagle who wrote (221689)	1/24/2002 11:07:44 AM
From: gao seng	Read Replies (2) \| Respond to of 769670

Have you ever heard of this 'plan' before? I haven't. DOES THIS IDEA STILL LURK IN THE MINDS OF BELTWAY LEFTISTS? Right now we have a collection of politicians – it IS an election year after all – trying to come up with some nifty new legislation that will protect people from future Enron disasters. Plans are afoot for all types of new laws to “protect” your pension plans from greedy corporate robber barons. This brings to mind a little revenue-raising plan that bounced around the hallways of the Clinton Administration for some time. Clinton economic advisors looked with hungry eyes on the $3 trillion --- that’s with a “T” --- dollars that rested in the nation’s 401K and pension plans. They wanted some of that money for government vote-buying plans. The plan – never really pursued – was to levy a “one time” fifteen percent tax on the outstanding value of all of these pension plans. The argument was that these plans were owned by people who got rich off the Reagan tax cuts and that some of this ill-found wealth needed to be redistributed to those who were “left behind” by the ‘80’s economic boon. You do know you only hear of these plans on talk radio, don’t you? boortz.com