They have no shame

fasterpatrick · #1 (**permalink**) 02-04-2010, 06:03 PM

They're at it again, while we're not watching they start coming after the money you manage to save for yourself. This is a obvious attempt to steal the money we all are putting away for ourselves in retirement.

"In recognition of the foregoing, the Agencies are considering whether it would be appropriate for them to take future steps to facilitate access to, and use of, lifetime income or other arrangements designed to provide a stream of income after retirement."

Could someone a lot smarter than me read through this document and tell me what the f%$k the criminals in DC are up to.

http://www.zerohedge.com/sites/defau...0-02028_PI.pdf

Patrick

Black Mamba · #2 (**permalink**) 02-04-2010, 06:07 PM

Is this why we want deregulation?

Ronbo · #3 (**permalink**) 02-04-2010, 09:06 PM

The way it's worded it sounds like they want to force at least some level of investment in goverment bonds, so yes it's a good argument for deregulation.

Bobcat · #4 (**permalink**) 02-05-2010, 08:09 AM

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 ".