The Democrats’ election victories have emboldened them. House Democrats now want their hands even deeper, and I mean deeper, into your pockets. The have been holding talks on handing your private retirement accounts — 401(k)s and IRAs — to the management of the Social Security Administration.
As crazy as this sounds, what’s their excuse?
Rep. George Miller, D-Calif., chairman of the House Committee on Education and Labor, in prepared remarks for the hearing on “The Impact of the Financial Crisis on Workers’ Retirement Security,” blamed Wall Street for the financial crisis and said his committee will “strengthen and protect Americans’ 401(k)s, pensions, and other retirement plans” and the “Democratic Congress will continue to conduct this much-needed oversight on behalf of the American people.”
Yes, of course they blame the economy. Because of the economic downturn, these retirement accounts are threatened, and therefore it is the government’s job to protect them by confiscating them!
No, thank you. I’d like my retirement accounts where they are right now, managed by the private financial institutions. The government can get my tax dollars, but they better not touch my hard-earned retirement savings.
Remember, folks: what the government gives, they government can take it away. Think twice about nationalized health care, nationalized banking, nationalized oil production, etc.
