Mark Hemingway: Unions target your private retirement savings | Washington Examiner

Both are masters of theft.

Mark Hemingway: Unions target your private retirement savings | Washington Examiner

Do you know what is really scary about this? We already have a guaranteed retirement account and we are already taxed to support that account. It's called Social Security. But now two Neo-Lib Democrat Senators–ok, one patently Neo-Lib Democrat and one Independent who calls himself a Socialist (at least in that he is truthful)–have held hearings that discussed doing away with the 401(k) and requiring a mandatory retirement deposit be made to the government. They will call it--now wait, this is rich--a Guaranteed Retirement Account.

This sounds just peachy...if you're a thief wanting to steal more money. Most of you won't remember that the original Social Security program placed the funds collected into a trust fund. That fund did very well and Social Security was completely solvent. But the fund did too well and under President Lyndon Johnson's Great Society program (ca. 1965) the Democrat-controlled Congress changed the rules so that Congress could use those funds for other than Social Security. As a result of Congress essentially stealing those funds--had they said at the beginning when FDR proposed Social Security that the money would go to the general fund rather than a trust fund the bill would not have passed--the fund has been depleted to the point that in the next 10 or so years it will be broke. There will not be enough money to cover the payments required under the law. The money that we've already put in will have been spent.

But Americans are a thinking people. Long ago we realized that unlike our grandparents we could not have a comfortable retirement or even depend on Social Security. Thus, with urging from We the People, Congress passed laws allowing for 401(k) and Roth retirement accounts. With those laws we could plan for our own retirement and ensure that it was comfortable. At least we thought so until Mr. Yes We Can Obama and his minions came along.

So what is the next move? (And please note and remember that it was the Democrats that screwed-up Social Security in the first place.) Obama and his Regime have decided that the government should take-over the 401(k) accounts and put them into a new Guaranteed Retirement Account. The final bill will, I am sure, require that these accounts be completely sacrosanct so it will be an individual's account and he or she will know exactly how much money is in the account and everyone will be happy. At least until the last vestiges of private retirement accounts have been eliminated. At that point we only have to wait until we again have a liberal Democrat-controlled Congress, a crisis that is either real or created, and voilà: Congress in its infinite wisdom and ultimate avarice will again change the law to allow themselves access to our retirement funds for, of course, the good of all. They will of course guarantee that we will get the money when we retire but that will come from future budgets rather than an account that we alone control. The exact same thing they said back in 1965 and we all know just how well that worked!

Imagine, the Social Security program that was to be our retirement account will be broke in all too few years because of Congressional slight-of-hand thievery. Now they are going to create a new program to increase our dependency on the federal government even more. Anyone want to take bets on how long it will be before they manage to bankrupt that program as well?

Follow the link.

And go vote tomorrow. Vote wisely and send Liberals and RINOs a pink slip. It's time to elect people who really have our interests at heart because the current crowd certainly doesn't!