Posted on 05/20/2016 5:05:57 PM PDT by bkopto
If you read the fine print, they already own it. None of that money is really yours until you pay all taxes due on it. Contributing is like throwing your money over a high fence and hoping the government will throw it back to you some day, a little at a time, plus interest.
All they have to do now is claim the public is too ignorant to manage its own money and that all private retirement account balances will be converted to Federal Savings Bonds, redeemable at age 67 and paying "reasonable" rates of interest. Coupled with an Obamacare-like media campaign claiming that only the "greedy" would try to punish our most vulnerable citizens in their time of need by keeping control of their own money when they already have too much, and they are done - trillions of new dollars appear to buy votes with until the next crisis comes.
They can't do it under a President Trump, though. They needed Jeb's help, and he didn't follow through... :)
Informative but depressing comments.
I really don’t give a ****. If they take it from me, I am taking it back, even if I have to knock off a federal reserve bank. Bet on it.
Pension are no more or less than another liabilities a company must pay. It’s prioritize of or claim on profits is only the security given the obligation. If the unions or workers do not ask for a higher level of security they will not get it. But the unions knew that going in. They chose higher pay and benefits in the here and now and said mere promises are good enough for later pensions. They could have secured the pensions but the companies would have lowered pay elsewhere.
There is nothing sacred about pensions. If I lone a company money and insist it is secured by the accounts recievable why should I not be replaced as per the agreement? If a union agrees to have the pension obligation (which means the worker has in essence become a lender) funded by future earnings then they should live wth their agreement.
Bank accounts for security are not WISE!
Checking for auto-pay and monthly deposit are the only uses for banks now, for me.
Strictly cash shopping now.
Pretty easy to do when you are an insider in the government.
You government stooge you.
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