Newest Democrat Money Grab: Your Retirement Account

This has been floated around ever since Obama took office, yet, most people probably thought “there is no way even this group of Democrats could possibly consider nationalizing individual IRA’s”. Alas, no, as the American Thinker points out

Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea.

This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to “transform” this nation. A logical next step would be to legitimize the confiscation of private retirement assets — an idea that was contemplated in the recent past by the Clinton administration.

There is over $7.835 trillion in private retirement accounts. Money that Democrats currently cannot get access to in order to redistribute. And, really, in Liberal World, that money isn’t really yours. It’s the governments, and, if you don’t share, you’re just a big old meany. Plus, you’re probably too stupid to invest it correctly, anyhow.

Lest you think this is the American Thinker getting a bit overwrought, Forbes has this

Notice they don’t breathe the word “annuity.” The U.S. Labor Department and the U.S. Treasury Department are holding hearings today and tomorrow on how to annuitize, that is how to get a lifetime of income, from your 401(k) or IRA, entitled: “Hearing on Certain Issues Relating to Lifetime Income Options for Participants and Beneficiaries in Retirement Plans.”

Interesting that there was basically no coverage of these extremely important hearings yesterday in the Old Media, and nothing on them today. Of course, the big stories yesterday and today are about the primaries. It’s almost like they scheduled these hearings, which are about confiscating your money and using it (and supposedly giving it back), to be below the radar. They wouldn’t do that, would they?

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