If you will recall the last time a president tried to permit American citizens to divert some of their Social Security deductions into a self-directed IRA and halt the poor investment that Social Security has become, you'll remember that the president was George Bush and you'll also recall the cat-calls and insults that his detractors hit him with, claiming that private retirement accounts were risky, that market and stock market swings could cause a loss of funds and there may not be enough money in private accounts when retirement money was needed, and finally concluding that if you didn't have money safely "invested" with and by the government through Social Security you were likely to end up broke and in poverty. The amusing thing is that the government is broke and impoverished and stocks and bonds are doing quite well, thank you. So who was right; Bush or his oh-so-smart detractors?
So now Bush's critics have decided they need some of our private IRA money to help bail out our over-spending, broke government, and they have devised several plans to take all of this tax-deferred retirement money away from its rightful owners, of course on the grounds that the people who have value and wealth in the IRAs are too stupid to know how to handle the money they've accumulated, and the government ruling class who has spent and borrowed America into bankruptcy knows best how to use the trillions of dollars in the private accounts.
By trying to get to our private retirement accounts the government is admitting that Social Security is a retirement account failure and that Bush was right when he proposed that the best retirement plan for individuals and families is private accounts with real value to them, not a hollow government promise. And now they are going to take away the accounts of intelligent, thoughtful people and dump us on a welfare retirement program that will allow us only a subsistence level allowance. And when the money from these IRA/401(k) accounts is dumped into the rat-hole of government spending, there will be no real money, earned through real profit-and-loss companies left to soak, the government will in fact then own the corporations of America and all hope to get our economy revived and back to sanity again will be lost and the futures of our children and grandchildren will be at enormous risk.
But of course our paternalistic government is only planning this takeover out of a concern for our future welfare and out of a sense of fairness for those who were unlucky enough, or too lazy, to have a good job they could work at for 30 or 40 years that would enable them to develop a nice retirement plan for themselves. Just watch these liberal fools start the class-warfare crap they have been developing into an art form these last 4 years, and watch as they raise resentment against all of us who have worked, paid our taxes, served in the military, raised families, put our children through school, done without fancy living so we could save and invest our money in anticipation of a retirement that would not include Social Security (which has been heading toward bankruptcy for 30 years), and start calling us racists and hate mongers for wanting to keep our own money.
However, the real reason politicians ever wanted Social Security funds flowing to government at all is because the inflow of these funds far exceeded what Social Security was paying out to retirees, and now that government revenues are down (not enough people employed any longer paying FICA taxes) and with retirement age now hitting an increasing number of American citizens, there is no more excess Social Security money to spend on Santa Clause-like, give-away, vote-getting projects, so now they're after the only remaining pile of wealth left in America: stocks and bonds in retirement accounts and the value of the companies these investments represent. If the government gets our retirement accounts, our nation is certainly doomed.
