It seems that seizure of your 401(k) is being discussed
- in a round about fashion. Creation of a "Guaranteed Retirement Account" is being discussed and the plan is to fund it with YOUR payroll taxes - up to 5% tax. You already pay Social (in)Security tax and now you will have to pay an additional amount to a "guaranteed retirement" for government funded pension plans.
Our schools are failing. Our military is hamstrung and fighting a seemingly unwinnable war. Social security is bankrupt. The stimulus did NOTHING but waste money (and now Obama wants more - what happened to "shovel ready"?
). Medicare and Medicaid are bankrupt. Fannie Mae and Freddie Mac were major contributors to the housing bubble.
Now the government wants to take control of our retirement and pensions?!?!
Elections are coming up soon. If you vote to reelect these criminals, then you deserve to be bilked.