[Toddsterpatriot]

One of the nation's largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the United States.

Because the current government run "retirement system", Social Security, is doing so well. LOL!

Claiming that the retirement system in place now has "failed most Americans," EPI vice president Ross Eisenbrey

I wonder if any of FR's EPI fans will agree with this idea?

[444Flyer]

You’ve been right over the target:

3/26/10

“Obama ally targets 401(k) dollars
Trillions in IRA funds could be forced into U.S. Treasury debt”

http://www.wnd.com/index.php?fa=PAGE.view&pageId=132061

“...Moreover, with the Obama administration needing to raise nearly $1.5 trillion just to cover this year’s anticipated federal budget deficit, and with the Federal Reserve discontinuing efforts to purchase U.S. Treasury debt, the Obama administration is looking at 401(k) and IRA accounts as trillions of dollars that could be forced into Treasury bonds to finance the federal budget deficits.

Given that the Federal Reserve has now phased out its direct purchases of Treasury debt, the Obama administration is anxious to find another market upon which to unload hundreds of billions of dollars of Treasury bonds carrying yields much lower than would be required if they were sold in the open market. ..”

[The Pack Knight]

Unfortunately, I think the problems with Social Security will be put forward as an argument for this nonsense. I don't know if this release was deliberately timed to coincide with the news of this year's Social Security deficit, but I'm sure it will be used to give SEIU's scheme some added momentum.

Now, I haven't seen any direct quotes from the SEIU advocating outright seizure of 401(k)s (not that they'd be opposed), but at the very least a "Cadillac retirement plan" tax would fit right into the left's current logic.