I ran across this article in THE NEW MEDIA JOURNAL entitled, Democrats Target Private Retirement Accounts. The article originally appeared in THE CAROLINA JOURNAL on November 4, 2008. It seems House Democrats have been conducting hearings on confiscating workers' personal retirement accounts and converting them to accounts managed by . . . . THE SOCIAL SECURITY ADMINISTRATION. Can you believe this? The government just outright taking our money we're setting aside for retirement and having it managed in the worst way possible - through Social Security. This is just another example of how out of touch the Democrats really are with reality. Here's the article:
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs
November 04, 2008
RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.