Feds Want Your 401(K) Retirement Fund!
While the government takeover of healthcare has most Americans
screaming mad, it also apparently has others close to the Obama
administration inspired and wanting more.
According to an
article posted on World Net Daily, a staunch labor
union consultant to the White House is preparing to wave an entirely
new entitlement program idea in front of the President—one that creates
government-mandated retirement accounts.
Colorado Congressman, Bob Beauprez, warns: "If you think ObamaCare was
unconstitutional government intrusion, wait ’til you get a load of this
According to Beauprez, by law, American employers
and employees would be required to contribute to a socialist-style
retirement fund, with lower-income workers entitled to taxpayer-funded
government subsidies that would bring their retirement up in line with
others who earn more money.
But then, the unfairness crosses
over into tyranny when, according to the plan, these employee
contributions would, in part, be forcefully invested in a government
annuity, funded by purchasing Treasury debt.
In other words,
private citizen investments in 401(k)s, IRAs and such would suddenly be
“available” to the government for paying off its irresponsible deficit
spending—a proposal that just might tempt the President to bite, as he
stares at a $1.5 trillion shortfall this year alone, with virtually no
takers on government bonds . . . not even the Federal Reserve anymore.
contends it’s Congress’ habitual spending recklessness in what is now a
desperate-times-desperate-measures environment, combined with the vigor
of successfully bullying its healthcare bill through, that makes this
outrageous scenario frighteningly conceivable.
property, personal assets and individual freedom mean nothing to this
man (Obama),” says Beauprez. “Seizing $3.6 trillion in retirement
accounts assaults another of our individual freedoms and forces
Americans to finance a couple years’ worth of his enormous federal
debt—something even the Chinese are increasingly reluctant to buy.”
top of it all, this plan does not even replace the already doomed
Social Security program. And the hits just keep on coming and coming
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