401(k) Seizure Threats Rise To The Surface Again
Rumors are flying again regarding certain Democratic Senators pushing for legislation for the government to seize private 401(k) plans in an attempt to bailout Union pensions and distribute retirement funds in a more “fair” manner. Make no mistake, if this kind of crap happens – and it might actually be attempted to be pushed through with a lame duck congress in the coming months – there will be a serious uprising in this country.
This is straight up theft, where people have been allocating their own money towards their own retirement, not towards someone else’s retirement. How anybody could be in support of such a piece of legislation is absolutely insane. This single issue alone should be enough to not vote Democrat.
What the hell is Social Security for? Isn’t that the mechanism that is in place already to assist people with retirement income? Why would the government need to steal individual saving accounts? Oh yeah, because social security is broke, and the government doesn’t like individuals having control over anything. This is pure insanity. If this crap even comes close to happening, there is going to be serious s**t hitting the fan.
You can read more about this here.
I’ll be watching this and will definitely update the blog with various news on this front.