Friday, February 11, 2011

Coming Soon: Obamacare on Steroids, for Your Money (to cure you of envy)

Are you concerned about the growing government debt crisis? Are you outraged by some of the pensions that government employees are getting? Well, forget the facts of the situation, economist Teresa Ghilarducci has a couch in her office and has determined you suffer from government "pension envy".

I kid you not.

Ghilarducci, an economics professor at The New School, in New York City, writes in a blog post titled, Pension Envy: Bashing Public Employees:
Envy is a celebrity (sic?) deadly sin, many philosophers think it's the worst. Joseph Epstein writes in Envy, "Envy clouds thought, clobbers generosity, precludes any hope of serenity, and ends in shriveling the heart."

Jealous is intensely felt, you are jealous of what someone has. Envy is cold and sneaky, you are envious for who someone is, not just for what they have. Jealousy about the pensions of government workers spurs you to fight for your own pensions. Envy would spur you to spitefully lobby to cut their pensions. A dose of jealousy helps you; envy hurts all.

The envy machine is cranked up.

Illinois State Senator Chris Lauzen says government benefits are unsustainable and unfair to taxpayers who earn less than civil servants. "People will become angrier and angrier when they learn the difference between their pay and benefits and what we give to public employees." Public sector workers are attacked for their generous pensions.
Got that? Your concern has nothing to do with  pensions that threaten to bankrupt state and local governments around the country. This has nothing to do with the fact that you are coerced into a system via taxation to support programs that you have no use for. This is, according to Ghilarducci, your envy showing!
Her solution to your envy: Give taxpayers the same pensions as government employees:
Public employees have a couple of choices: Accept pressures for cutbacks in their medical and pensions or help taxpayers get better pensions and medical beenfits. So now is the time for a little jealousy, a lot of solidarity, around the deamdn (sic) for everyone to have safe and secure pension income. Envy is destructive.

How does she advise this be done, since government pensions are on the verge of bankruptcy? Well she wants to tax your pay and force the money into a government agency where the funds will then be palced with approved investments (naturally, through "approved" financial advisors).

Translation: For your own good, she wants to tax your pay, so that "approved" advisor Goldman Sachs invests it in U.S. government bonds, which, of course, won't protect you against inflation, and which will result in even more inflation as the Fed prints money to pay you out.

Ghilarducci calls this the "Plan for Mandatory Universal Pension System". Think of it as Obamacare on steroids for your money, with Goldman Sachs as the doctor operating on your wallet.