Serf
Well-Known Member
Let me preface this by first creating a scenario that is not all that far fetched. Then read the link pasted about the new plan. Scary and Fascinating.
Imagine, the year is 2034. The United States has been a one party system for the last 20 years. Social Security has dried up. Inflation is so high and the Government so cash strapped that they have taken over people's 401k's,IRA's and hijacked private pensions. In exchange the Government would give a minuscule lifetime monthly payment. And once the citizen dies of mysterious causes the money goes to the Federal Government not to the heirs.
Now ask yourself: "Could the Government eventually force my company/retirement plan to buy bonds and control all my assets?" The Answer? Damn right they can. And here is the start of it. First it's small amounts, then the more desperate they become, the more rules they make, abd the more they take.
Imagine, the year is 2034. The United States has been a one party system for the last 20 years. Social Security has dried up. Inflation is so high and the Government so cash strapped that they have taken over people's 401k's,IRA's and hijacked private pensions. In exchange the Government would give a minuscule lifetime monthly payment. And once the citizen dies of mysterious causes the money goes to the Federal Government not to the heirs.
Now ask yourself: "Could the Government eventually force my company/retirement plan to buy bonds and control all my assets?" The Answer? Damn right they can. And here is the start of it. First it's small amounts, then the more desperate they become, the more rules they make, abd the more they take.