Originally Posted by G29Reload
Ok, lets stop the scare tactics. Correction:
Obama DOES NOT begin push for new national retirement system.
This is a bunch of hooey from an advocacy group.
Not new. This is a little scary, but it was floated about 4 years ago just after he was first elected. Some lefties in congress mouthed off on the floor of the House about it.
Even in the then dem controlled congress it did not make traction.
And more importantly, NOW…
We've got divided government. He can't do it unilaterally. Has to come from Congress and so its a non starter. Calm down.
A more likely scenario is higher taxes on retirement accounts.
Nothing will happen as long as the Republicans control the House but look how fast the Democrats acted on Obama Care and the Stimulus when they gained full control.
If the economy falls into recession again the voters may blame the Republicans and vote straight Democrat.
When the Democrats win full control again expect a drastic increase in Government and seizing retirement accounts (or taxing them out of existence) will be on the table.