Message from the Chairman:
Are Private Pensions the Obama Administration's Next Target?
There is growing evidence that the Obama Administration wants to adopt ideas being pushed by the AFL-CIO and SEIU to radically change the nation's private pension system. They want individuals to have less control over and less access to their own retirement savings.
The White House recently released its "Annual Report on the Middle Class" advocating new "retirement options" and imposing new regulations on 401(k) retirement savings. The plan calls for the creation of something called "Guaranteed Retirement Accounts" (GRAs). The Departments of Labor and Treasury have also jointly issued a "Request for Information" to implement the "annuitization" of 401(k) plans through "Lifetime Income Options." Their plans also call for an enlarged role over pensions by the Department of Labor.
In an economy suffering from excess debt, insufficient savings and unfunded government obligations, it is hard to imagine a more misguided policy than to discourage savings by reducing individual access to assets and creating a new government entitlement. Think of it, the same federal department with responsibility for mine safety, the Department of Labor, could assume a larger role over your retirement savings.
The impetus for this pension scheme comes from a new group, "Retirement-USA,"[1] founded by the AFL-CIO, SEIU [2] and a number of labor affiliated organizations. Their plainly stated goal: "The system should be administered by a governmental agency or by private, non-profit institutions that are efficient, transparent, and governed by boards of trustees that include employer, employee, and retiree representatives."
Other Retirement-USA goals include restricting employees from taking lump sum distributions at retirements, preventing savers from accessing funds before retirement or from stopping remaining pension assets from being left to family members at death.
Given the performance of union managed pension plans, SEIU seems a surprising source of advice on private pensions. According to the Wall Street Journal, public records based on the SEIU's own filings show that the SEIU National Industry Pension plan - which covers some 101,000 workers - was only 75% funded in 2006. "Put another way, the plan had only three-fourths of the money it needs to meet its retirement obligations. And the national chapter is only the start. Some 13 local SEIU pension plans in 2006 were less than 80% funded; several didn't reach 65%."[3]
Despite this record, the links between Retirement-USA" and the Obama Administration are apparently very close. Last fall at an "Envisioning Retirement Security" conference sponsored by the group, Labor Secretary Hilda Solis praised the group's objectives.[4]
Just this week in response to this threat, House Republican Leader John Boehner and other members of the House GOP sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and reject proposals that would dismantle or nationalize the private pension system in favor of a government-run retirement security regime: [5]
"[W]e write today to express our opposition in the strongest terms to any effort to 'nationalize' the private 401(k) system, or any proposal that would dismantle or disfavor the private 401(k) system in favor of a government-run retirement security regime.... Instead, we urge the Departments to make it easier for employers to include retirement income solutions in their savings plans and to help workers learn more about the value of their retirement savings as a source of retirement income."
As a positive alternative toward letting Americans rebuild their savings, Republicans have formed a "House GOP Savings Recovery Solutions Group." This group has proposed:
· Rebuilding Americans' Retirement Savings by extending the suspension of minimum pension withdrawals for an additional three years, through 2012.
· Rebuilding College Savings by extending the existing SAVERs Credit to contributions made to 529 college savings accounts, effectively reducing by up to half the cost of a family's contribution to a 529 plan.
· Increasing Retirement Income by reducing the Social Security earnings penalty by doubling the Social Security earnings limit from $14,160 to $28,320 and allowing more Americans to increase their income without being hit by the earnings penalty.
· Tax Relief for Investors and Seniors by suspending the capital gains tax on newly acquired assets for the next two years and raising and indexing to inflation the amount of capital losses allowed against ordinary income to $10,000.
The contrast between the two political parties on savings policy could not be clearer. The Obama Administration is moving toward a more collectivist strategy in which individuals have reduced access and less control over their own assets. Republicans instead would encourage improved individual balance sheets with more savings.
Mark Uncapher
Montgomery County Republican Chairman
[1] http://www.retirement-usa.org/
[2] http://www.seiu.org/2009/03/seiu-coalition-partners-launch-retirement-usa-initiative.php
[3] http://online.wsj.com/article/SB121616792365556301.html?mod=rss_opinion_main
[4] http://www.dol.gov/_sec/media/speeches/20091021_RRS.htm
[5] http://gopleader.gov/savings/solutions.htm
| "The bigger the government, the smaller the individual."
In a speech to the Maryland GOP Convention, Chairman Audrey Scott challenged Republicans to go one step further in discussing the dangers of big government. The term itself has become overused and not understood. We must get in the habit of explaining that we cannot grow government without taking away resources from individuals, diminishing individual human beings and stifling their potential.
MDGOP Chairman Audrey Scott addresses Convention - photo by S. Green
The three key messages of Republicans should be: We need smaller government, lower taxes and individual responsibility."
The venue for Mrs. Scott's speech was the State Convention of the Maryland Republican Party, held in Ocean City on April 30 and May 1. The weekend included several training sessions, hospitality suites hosted by candidates, and guest speakers. Among the speakers were Gov. Bob Ehrlich, former New Mexico Gov. Gary Johnson, Pollster David Winston, RNC National Committeewoman Joyce Terhes and RNC National Committeeman Louis Pope.
After being introduced as "The 60th and the 62nd Governor of Maryland," Bob Ehrlich launched into an impassioned keynote address that highlighted the reality that "progress is not Democrat or Republican . . . it is what it is. Progress is progress."
"We need to support businesses. . . Enough of class warfare. Enough of making the people who create the wealth the bad guys."
Gov. Bob Ehrlich addresses MDGOP Convention - photo by S. Green
Gov. Ehrlich's focus will be not only to cut taxes, but to expand the law to develop more educational opportunities and charter schools.
- S. Green
| It's easy to Volunteer with the Montgomery County Republican Party
There are several categories in which you can share your talents and time by clicking on this simple form:
Online Volunteer Sign-up http://mcgop.net/volunteer.aspx Choose as little or as much as you like: being a precinct chair, hosting a GOP event in your home, distributing literature, working the polls on election day, displaying a yard sign. These are just some of the opportunities you can help with. Once you submit the form, someone will get in touch with you.
Thank you!! | | MCGOP Press Release on Decision of Northrop Grumman not to locate Hqs in Maryland
Failed O'Malley Policies Responsible for Loss of New Jobs, Says Montgomery County GOP
The "B-2 Spirit" made by Northrop Grumman
Rockville, MD, April 27, 2010 - Northrop Grumman's decision to locate its new headquarters in Northern Virginia rather than Maryland represents lost jobs and revenue for Marylanders. According to Montgomery County Republican Party Chairman Mark Uncapher, "Unfortunately Northrop Grumman's decision comes as little surprise, given Maryland's and Montgomery County's marked deterioration as business friendly jurisdiction over the past three years. "
As reported in the Washington Business Journal, Maryland was originally on a short list for the Northrop site. According to news reports, the headquarters jobs will now go to Virginia.
Mark Uncapher notes, "The business development legacy of Bob Ehrlich was Maryland's success with base realignment process (BRAC); the legacy of Leggett and O'Malley is Virginia's success landing Northrop Grumman. According to the Tax Foundation, Maryland now has the fourth worst business climate in the country, down from 25th four years ago. "
|  Freedom in the 50 States -
Maryland ranks among last
Can individual freedom be measured? The academic minds at George Mason's Mercatus Center make a compelling case that it can be. In February 2009 they published a paper that assigns a index of personal and economic freedom to each of the 50 states. They analyzed categories of data in four categories: (1) Fiscal Policy, (2) Regulatory Policy, (3) Economic Freedom, and (4) Personal Freedom. The rankings in each of these categories were combined to assign each state an index and a ranking. Not surprisingly, Maryland was ranked 46th. New Hampshire was ranked #1 with the greatest degree of individual economic and personal freedom. To read more about the Mercatus Center and see the details of this fascinating study, follow this link: http://mercatus.org/publication/freedom-50-states-index-personal-and-economic-freedom?id=26154
- J. Pasenelli
|
To all candidates and activists:
Wake up voters with "The Tax Estimator"
It's a terrific GOP tool, brought to you by the Maryland Public Policy Institute
Fill out the form in the link below to look at some astonishing results. The tax estimator gives the clearest picture ever of the amount in taxes that are too often hidden from our citizens. It accounts for federal, state and local taxes of every kind and also gives a picture of what specific amounts you would be paying for various services.
For example, if you fill out the form as a married couple filing jointly with 3 dependents in Montgomery County with an income of $300,000, you would discover that you pay more than half of that income in taxes, $154,481 in taxes
But, let's try the same couple earning $100,000. They are still paying nearly half their income in taxes with a grand total of $46,300 in taxes.
Click here to enter your own numbers: http://tax.mdpolicy.org/Estimator/Estimator_3.html
And spread the word!
| From the Maryland Public Policy Institute
Originally published in the Frederick News-Post May 5, 2010
Fiscally delusional
by Marta Hummel Mossburg
Politicians routinely abuse their power to promote themselves at taxpayer expense. For example, I am reminded of disgraced former Baltimore Mayor Sheila Dixon each time I throw recycling into a bright yellow bin with her name on it, and of current Mayor Stephanie Rawlings-Blake whenever trapped behind a city bus with her name plastered across it.
And then there are constituent mailings meant to "inform" residents of recent legislation or a politician's accomplishments. They are usually thinly disguised campaign literature, but Delegate Roger Manno, D-Montgomery, takes spinning residents to a new art form in his recent missive to his constituents.
If some of the claims in his eight-page "Report on the 2010 Legislative Session" are not outright lies, then they are the musings of a man who either does not understand basic math or thinks his readers are too lazy to check his facts.
He writes the fiscal 2011 budget cuts spending by $525 million and that overall spending "decreases almost 2 percent from last year." His assertions are only possible if more than $1 billion of federal stimulus funds in the state budget don't count as spending. It's like a family claiming to balance their budget, except for their credit card bill.
Worse, the statement makes it seem as if the state were fiscally responsible when no plan exists to plug the $1.5 billion hole in next year's state budget created by the removal of those federal funds and ultimately, by legislators' decision not to align the budget with state revenue.
Second, he claims that the state cut 4,000 positions over the past four years, "including 600 positions from this year's budget." According to the most recent figures from the Department of Budget and Management, the state actually gained 286 employees from fiscal 2008 to fiscal 2009. The only positions cut, except for a handful, were vacant. What if someone could claim they lost 25 pounds when they actually packed on a few? It's the same logic.
Manno also claims "leadership on teacher and employee pension reform." His solution to fix the $30 billion unfunded liability for state employee pensions and health care benefits was not to address the cause of the problem: overly generous promises to state employees plaguing states across the country. It was to spend more by taxing income over $1 million. Aside from the fact that his legislation does not fit with his narrative of cutting spending, it also maintains the illusions that the state can afford to promise benefits without a revenue stream to pay for them.
If passed, it would have made Maryland even less attractive a place for business only two years after massive tax increases took effect and as Maryland is losing tens of thousands of people to lower-taxed states, according to census and IRS data.
These are just three examples from eight pages of his taxpayer-funded public relations piece. How many people took the time to read his report instead of tossing it in the recycling bin with some other politician's name on it is anyone's guess. But for those who did read it, they could be forgiven for thinking Maryland's economy is booming, especially with green and biotech jobs, its budget balanced and outlook stress-free. I can't wait to see what Manno writes after legislators raise taxes next year to fill the $1.5 billion budget hole he pretends does not exist.
Marta Mossburg is a senior fellow at the Maryland Public Policy Institute. mmossburg@mdpolicy.
| | | | |
Upcoming Events
Rural Women's Republican Club Republican Candidate Meet and Greet
Monday, May 17th - 7:00 pm
Contact Lynn Lipp at 301-972-8134. Precinct Training - Saturday, May 22,10:00 - 12:00 MCGOP Headquarters 15833 Crabbs Branch Way , Rockville, MD For more information, contact Dan Cuda at 301-926-1095 or dcuda54@juno.com
Chevy Chase Women's Republican Club Political Lunch Bunch
Thursday, May 27th 1:30 pm
La Madeleine Restaurant
11858 Rockville Pike
Rockville, MD
Contact: Anne Dickey
301-983-1854
First Monday Introductions Monday, June 7, 7:30 - 9:00
Montgomery County Republican headquarters
15833 Crabbs Branch Way
Rockville, MD 20855
The first Monday evening of each month The Montgomery County GOP hosts an event in which Republicans can meet candidates and discuss concerns and ideas. contact Mark Uncapher mark@uncapher.net
The Maryland Republican Party's 20th Annual Red, White and Blue Dinner
Guest: Mitt Romney
Sponsorship Opportunities & Tickets Thursday, June 10-7:00 pm
BWI Airport Marriott
1743 West Nursery Road, Baltimore, MDContact Kim Jorns at (410)263-2125 or kjorns@mdgop.org
Governor Romney currently serves as the Honorary Chairman of the Free and Strong America PAC. In 2008, Governor Romney was a leading candidate for the Republican presidential nomination and distinguished himself as an important voice in favor of strengthening our economy, military, and families.
To sit at a table with other Montgomery Republicans, contact Mark Uncapher at 301-417-9256 or Mark@uncapher.net
Maryland Young Republicans 2010 Leadership Conference
June 18 (4:00 pm) - June 19 (11:30 pm)
Salisbury State University
1101 Camden Avenue
Salisbury, MD 21801-6837
Contact: Moshe Starkman
301.254.9660 or e-mail
Moshe Starkman Rural Women's Republican Club - Saturday Night in the Country
October 9th 5:00 pm (dinner served at 7:00)
Location: Isaac Walton League on West Willard Road in Poolesville.
Featuring singing auctioneer Anne Lynn to run the fun auction of neat stuff.
| | Mark your calendar for the Next Precinct Training Session Saturday, May 22nd
at MCGOP HQS 10:00 a.m.-12:00 Noon15833 Crabbs Branch Way in Rockville
Learn how to Organize Republicans in your Precinct (there are more than you realize!)
and to elect Republicans in Montgomery County This training session is fun, free and informative
For more information call Dan Cuda at 301-926-1095 or e-mail at dcuda54@juno.com | |
Consider being treasurer for a GOP Candidate!
By offering to be a candidate's treasurer, you are doing a great service to both the GOP and our hardworking candidates. A candidate cannot even file to run until he or she has designated a treasurer. If this sounds like a volunteer position that suits you or if you would like to learn more, please contact our candidate recruitment chair, Jim Shalleck at jimshalleck@hotmail.com
Also: Our Organization Committee - which recruits for our precinct organization is looking to fill these volunteer positions:
Volunteer Welcome Chair- Responsible for contacting new volunteer prospects, identify activities for them to get involved with, communicate with volunteer contacts, follow-up up to make sure the volunteer "hand-off" to committee chairs and other leaders has been completed.
Organization Database Administrator - Custodian of the county party's computer database of precinct chairs and volunteers. Requires strong computer skills, especially with databases.
Voter Vault Administrator - provide walking lists, call lists and other information from the party's Voter Vault database to candidates and the precinct organization. Requires strong computer skills.
Contact Mark Uncapher Mark@uncapher.net
| Quote to remember:
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history. "
Mahatma Gandhi
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| CONTACT YOUR CENTRAL COMMITTEE MEMBERS:
Hon. Robert Dyer, III. - 16 Hon. Dan Willard- 19
dswlaw@willardlaw.com
****
J. David Cotter
Jdavidcotter@gmail.com
Treasurer
| |
MCGOP CONVENTION!