This is not the first time this has come up. The leftists have coveted IRA/401K’s for a long time. I think I remember Jesse Jackson running on the idea of taking that money and using it for reparations.
I think last year some Dems were talking about taking that money and putting it into social security in exchange for small monthly payments. or something like that.
“I think I remember Jesse Jackson running on the idea of taking that money and using it for reparations.”
I don’t doubt JJ was talking about that but I remember Robert Reich and his sidekick Actenburg (HHS under Clinton) were talking seriously while running HHS about taking 15% of the current balance of all 401K/IRA accounts and 15% of all future contributions to ‘invest in the inner cities’. They claimed this was necessary since the market didn’t fully recognize the values of such intestments and that these ‘investments’ would pay for themselves by reducing crime, poverty, etc.
I also doubt that there are few politicians that wouldn’t slobber over the thought of taking a sizeable portion of all 401k/IRA accounts to pay for their pet projects, ie, health care, reparations, etc.
1Tim.6 [10] For the love of money is the root of all evil: