All those relying on private pensions to aid them in their inaptly named “Golden Years” take note:
Go here to Forbes to read the rest. Do not think for a moment this will not happen here. Governments around the country have long played games with public employee pensions. As our debt situation becomes more acute, governments will look ever more longingly at the pot of gold, just waiting to be plundered, in private pensions. This of course is part of a mindset that views all property as belonging to the State, and that what people are able to retain from their own sweat and effort is, in effect, a gift from the State. If you think that this can’t happen here, it is being advocated now by voices on the Left, most notably by Professor Teresa Ghilarducci, a Professor of Economics at the New School for Social Research. Go here to read all about it.
“This of course is part of a mindset that views all property as belonging to the State, and that what people are able to retain from their own sweat and effort is, in effect, a gift from the State. ”
Also part of the mindset of the “Universal Destination of Goods” Catholics who use this teaching as an argument to ever expand the government.
As noted, coming to a corrupt government near you.
401k bad
Reliance on Govt. good
Self reliance bad
Dependent on State good
Ok. I got it. Time for my entitlements.
Because Obama! Thank goodness for New School for Social Research…aka Mein Kampf!
I was unaware of the Polish government’s actions. Poland has had one of the best performing economies in Europe and had not converted to the Euro.
Poland’s two main parties are Civic Platform and the Law and Justice Party. Neither of them are comparable to American political parties.
It was suggested when Klintoon was President that the government take over private pensions and 401K plans. The GOP then would never have allowed it to happen. Today Obumbler does whatever he wants and the Washington GOP is spineless and weak.
I’ll put our money in my wife’s Colombian pension system.
[…] Stealing When the Government Does It? – Donald McClarey, T.A.C. […]
The Federal Reserve Banks and the Social Security Administration hold the bulk of the U.S. domestic debt, years ago it even amounted to nearly 60% of all federal debt (including foreign debt). The U.S. could easily abolish the Federal Reserve and create a replacement ex nihilo, but doing the same with the SSA would be a desperate move. Don’t rule it out, especially after a major event like the first (and second and…) Iranian covert nuclear detonations on U.S. soil.