Skip to content

Obama Administration to Go After Retirement Accounts

November 24, 2012
Gary DeMar
Source …..

When threats of Communism were in the news, books were written at a feverish pace reminding us of the insidious nature of the beast. There were the “useful idiots” who praised communism, but they were few and far between. But there were others who believed that while communism was something we did not want to imitate, we could work with communists for common ends.

There were always warnings, however, that you can trust the communists . . . to be communists. In fact, there was a book by that title written by Fred Schwarz in 1960: You Can Trust the Communists (to be Communists) when it came to their allies, intellectual dishonesty, education, children and literature, brainwashing and language, the manipulation of truth, relativism, and the use of the term “peace.” Communists were always going to be communists no matter how much wishful thinking hoped to believe otherwise.

In a similar way, you can trust liberals to always be liberals or progressives. They will always push taxing and spending policies. We’re seeing more of the consistency of liberals in their call from removing the debt ceiling and the daily insistence that taxes must be raised in the rich so they can pay their “fair share,” a plank, by the way, that’s taken right out of the Communist Manifesto.

But there’s only so much money that can be squeezed out of the wealthy. The money has to come from somewhere to fund the liberal version of Utopia. Inflation, increasing the money supply via the printing press, can do long-term damage to the economy.

When liberals agreed to set up retirement accounts where taxation could be postponed, a lot of people were skeptical. Why would any liberal agree to such a thing? Now we’re beginning to hear rumblings about the possibility that the Obama administration is looking at the trillions of dollars of potential revenue in these accounts as Jeff Berwick is warning us:

“[T]he National Seniors Council has announced that ‘Obama (has) Begun to Push for a New National(ized) Retirement System.’ According to them, a recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRAs and 401k plans.”

Who will object to such a takeover? Certainly the people who have money in these accounts, but not the people who don’t. The appeal will be made to the 51 percent who voted for Obama. “Why should the wealthy have what you can’t afford to participate in?,” promoters of the takeover will argue.

Retirement funds will be in the same category as Social Security, collected and managed by the State. Is there historical precedent for this type of statist action? You bet there is:

“In late 2010 Hungary’s government gave its citizens a choice: hand over all their savings to the government or lose all their state pension money. The government sought control over Hungarians’ $14 billion in individual retirement accounts. The Bulgarian government did something very similar when it tried to transfer $300 million in private early retirement savings into a state pension scheme. They only managed to get roughly 20% of the funds they sought. Last year Ireland raided the private stash in the National Pension Reserve Fund with a 0.6% levy under the label of a ‘jobs plan’ in order to bail out insolvent Irish banks.”

Liberals will never change. You can trust them always to believe and act as liberals, that is, liberal with other people’s money. None of it is really ours. We only get to keep what they allow us to keep.

2 Comments leave one →
  1. November 24, 2012 9:23 pm

    Reblogged this on America at War and commented:
    Here’s another blog that I just started following, thought I’d share it with you all

  2. Rwolf permalink
    November 24, 2012 1:12 pm

    If Obama will confiscate your retirement if is problematic Obama Next will want to confiscate Americans’ other property for the 51% that voted for him; seize Americans’ real estate and homes even if that means evicting the owners? You may recall the communists in Poland not long ago were able to rapidly organize support for a communist government by offering Poland’s downtrodden and criminals the property of well off Polish Citizens; communist looters could keep whatever they confiscated. Home owners were found dead hanging from their dinning room chandeliers; their homes stripped of everything valuable. Communist supporters attached Poles cutoff the fingers of supposed well off people to steel their jewelry. Increasingly in the U.S. there are reports of mobs taking over stores, stating “We own this place” while taking the merchandise. Wake up America! Obama’s ilk won’t stop with taking your retirement account, Obama’s Reds want everything you have.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: