Here They Come

Dems Target Private Retirement Accounts

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.

But wait, there's more...

The current retirement system, Ghilarducci said, "exacerbates income and wealth inequalities" because tax breaks for voluntary retirement accounts are "skewed to the wealthy because it is easier for them to save, and because they receive bigger tax breaks when they do."

"I'm just rearranging the tax breaks that are available now for 401(k)s and spreading — spreading the wealth."

I'm still waiting for my car and house payment check from the government. Did you get yours yet?