See: Retiree Annuities May Be Promoted by Obama Aides
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
I have some comments that I will be sending their way. I will politely suggest that they forget about this crazy idea. I would encourage you to do the same and to suggest that everyone that you know do the same as well. I will also forward a like missive to my local Congress-Critter and my state Senators. This is the kind of horrifically bad idea that will get passed through a Democrat controlled Congress and White-House in the dead of night if we aren't aggressively vigilant.
If this thing can't be stopped, I will liquidate my 401k's and my IRA's rather then give those scum sucking, bottom dwelling, excrements any more control over my retirement then they already have. Its my money. I earned it. I am going to spend it however I see fit. I would rather take the tax hit for liquidating everything then give the Democrats anything else to hang over my head.
Voting to put Democrats in office is no different then voting to put thugs and thieves in charge of safeguarding your rights and your money. Only bad things will come of it.
See also:Class Warfare's Next Target: 401(k) Savings
See also:Are the Democrats Coming After Your Savings?
HT: JCM at CC