The article on which this blog is based is TWO YEARS OLD. It was posted on the website of the National Seniors Council. It referred to a hearing TWO YEARS AGO jointly sponsored by Treasury and Labor to look into lifetime income options in 401(k) and defined contribution plans.
However, having said that, I don’t disagree with the headline of the blog. The Obama Administration would like to seize all 401(k)s in the name of giving people a low cost annuity and have Social Security manage everything.
The guy who called this conference, Mark Iwry in Treasury, HATES 401(k)s and all the people called to testify are extreme leftists and Communists who also HATE 401(k)s because it puts retirement ownership and control in the hands of the people. They don’t like that because people who save for retirement get to have a better retirement. They call those people RICH.
But what it’s all about is the most successful people in society being targeted to take away the fruits of their success. It’s PURE EVIL.
Barry held meetings with Dems in Dec 2008—even before he was sworn in.
He didn’t do this in the first term because he wanted to have a 2nd term. He has accelerated his Executive Orders because of a balky Congress. This will only continue, as he thinks he is a king and we are to do his bidding.
What role will his Czars play when this hits the fan??? He already has a replacement person for all his Cabinet posts—his hidden Czars.
I suspect that there has been a group working on implementing this plan to steal our money since Dec 2008.
I wonder what the compliant media will say when their savings, Money Markets, and 401’s are wiped out??? Finally their bull will also get gored.