Wednesday, December 19, 2012


Barack Obama Caricature -

Obama Is Coming After Your Private Pension Funds
Fewer Americans are paying income taxes as a proportion of the population than at any time in recent history, and those who are will likely soon be paying even more of their income to the federal government. But that still won't be enough to satisfy Washington's insatiable appetite for the people's money; the Obama administration, unions, Congress and the Treasury Department are looking to findamentally change the way you plan and save for retirement as well. Led by statists who use the federal budget to buy votes to remain in power, as well as those wed to the notion that Americans don't deserve to keep their own wealth, a major movement that began a few years ago to redistribute $3.5 trillion in private investment funds is gaining ground. The idea is to seize traditional 401k and IRA accounts and fold them into a government run Guanantee Retirement Account. The legislation was authored in 2010. The government wants everything and is coming for everything.