One idea that surfaced a few weeks ago in Obama's so-called brilliant and intelligent group of advisers, as some folks joyfully identify them (conservatives and George Bush just do not measure up in wisdom and intelligence, in liberals' estimation and hypocrital self-esteem).
Back in Clinton'sd day there was talk of putting a tax on pension funds--your 401(k) pension fund--and now, it is suggested that it would be a grand move to have you turn your pension fund over to the government and let it guarantee you a 3% per year earning on the fund, for the stock markets and free market concepts just do not give you the kind of security you need.
Do you know what will happen to your pension fund? I'll tell you.
It will become just like your Social Security Fund, the one you paid into all your working days, along with your employer's matching portion. It will be spent. SPENT! And in its place will be Treasury bills showing that the government owes your pension fund that money. It will be used to justify higher spending for socialistic programs to procure votes and to declare a reduction in the annual budget deficit.
There is no Locked Box containing your Social Security funds, and there will be no Locked Box containing your pension fund. The government will not--NOT--invest your pension funds in the open market for stocks, bonds and similar securities. It will be in Treasury Bills. They will cash in you stocks and SPEND THE MONEY on socialistic programs. Has congress embraced to idea of investing some of your Social Security funds in the market place?
Absolutely not! It was rejected with derision.
The practices of the past and attitudes of the present tell us just how it will be! You can bet on it!
Gene Lawley
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment