[Bobcat]

This was an idea floated some time ago by Bill Clinton and the Democrats . Basically , it will force IRA`s and 401k`s to invest in Government controlled investments ... i.e. T bills etc . I see two things here ... first , it`s a way for the government to confiscatetax/control the money that is already in retirement plans and out of their reach to finance their spending . The other is that it will be a way to " spread the wealth " . From what I`ve seen on this proposal so far , they want to give every person a "guaranteed income stream for life " . In the Clinton proposal , there would have been a "one time tax " of 15% on the outstanding balance of every IRA/401K in the country .
The government just can`t stand it that there is all this money accumulated by the evil working "rich" that they can`t control .
If they get this through , then they will control you completely .... health care , Social Insecurity and then your retirement . Just think ... those of us who worked hard , stayed out of debt and saved for our retirement , will be supporting those who didn`t .
You have to fight this in any way you can .... but they will use the economy to sell this a a "secure retirement ".