That will never happen! They can’t do that! It’s unconstitutional!
These are always the first reactions to predictions of future legislation where by our federal government proposes to steal our money while pretending to help the masses. Americans had better come to terms with the fact that the Obama Administration is one election away from the confiscation of retirement savings and Democrat loyalists all over America are gleefully waiting for the next round of Obama income redistribution.
If the 2012 election didn’t get America’s attention the 2014 elections most certainly will. Liberals are on the war path and the next election will probably cause a dangerous shift of power to the Democrat Party. There will be no stopping their subversive agenda once they own both the Executive and Legislative branches. After all the “working poor” is now a powerful force in our Democratic process and they know it.
It’s almost inevitable that the United States will soon raise the debt ceiling and fall victim to a credit downgrade. Our national debt isn’t going down (under the present administration) and GDP growth forecasts are even more depressing. With 23 million out of work and close to 50 million subsisting off of government largess the government will have to find new and creative ways to provide for the ruling party’s dependents now and in the future.
The U.S. government is borrowing 40 cents on every dollar they spend to prop up our economy and our financially deprived underclass. Foreign patrons of our U.S debt (Treasury Bonds) are experiencing buyer’s remorse and are slowing their investment in our eventual bankruptcy and the Federal Reserve is now purchasing over 60% our Treasury Bonds. Eventually the U.S. government will have to look to other revenue streams to finance is operations and Retirement Savings (IRA’s and 401K’s) are now on the table.
No way you say? Well, our present government (who by the way worships FDR, Unions, and Socialism) has had proposals for doing just that in the works since Obama’s election in 2008 (look up Obama “Automatic IRA”). Government Retirement Accounts (GRA’s) are currently being (ever so quietly) explored as a new entitlement solution to our nations exploding fiscal crisis as well as a solution to retirement savings disparity and inequality among our nations’ poor. Not only should the rich (everyone making a taxable income) pay their fair share, but they will soon be tapped to finance the next Obama entitlement payoff: Nationalized Retirement Accounts.
I can hear it. Oh he’s crazy. It’s just right wing tripe. There’s no way they could do it.
Let me remind you that most retirement savings is already trapped by government regulation. Capital controls were put in place a long time ago to keep America’s retirement investment from flowing across our borders to places out of reach of government confiscation. Today less than 3% of retirement savings is “self-directed” which means that most of it is available for government mandated “re-directing” to exploit the savings available by subsequent taxation or confiscation. By the way, this re-direction I speak of amounts to trillions of dollars of national debt financing capital that is in reality deficit neutral.
Labor unions leaders like Richard “Lenin” Trumpka are salivating over the prospects of pooled or nationalized retirement plans. Between the growing public union roles and all the new meat (illegals turned U.S. citizens) the SEIU will be bringing in; nationalized retirement savings will solve a large portion of their future pension funding problems. Not to mention that I’m almost positive union members will be entitled to all of GRA’s benefit without bearing the actual costs; just think Obamacare waivers.
Most American’s think that their 401k’s and IRA’s are safe. I beg to differ. Do a little investigation and you will find that the government has been running a scam for decades; a scam that manipulated hard working and thrifty Americans to accumulate a large sum of money ripe for confiscation when the time comes. Remember most traditional Americans thought Obamacare would never pass yet now it’s constitutionally protected government overreach. Happy Thanksgiving!