Stories have been floating around that in order to make up for the shortfall in government over-spending and revenue shortfalls, Obama and Company will propose dipping into our retirement accounts. The rationale for violating the public trust will be that all of these tax-deferred retirement accounts were created by acts of Congress.
What the State gives, the State can take away. Blessed be the name of the State.
When the politics of envy kicks in with both feet, we will be told that it’s not “fair” that some people have been able to have retirement accounts while others unable. In order to equalize the disparity, it is necessary to spread the wealth to those who have not been able to realize the American dream. Consider the following:
“[T]he National Seniors Council has announced that ‘Obama (has) Begun to Push for a New National(ized) Retirement System.’ According to them, a recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRAs and 401k plans.”