Coming soon:
Obambie to take ALL of your earnings and money, in exchange for five acres and a mule.
Yeah right it will end up being a single room apartment in a slum somewhere and a bus pass....
...and the mule has only three legs...
Once the fix is in to nationalize retirement assets, then means testing will redistribute them.
Imagine your pension fund (made up of your earnings you chose to defer or to save or to invest) being run by the people now running our economy into the ground. The economic geniuses who call tax cuts “spending” and unemployment checks and rampant govt pork spending “stimulus”
Imagine your pension being managed by the people who run the Post Office.
Retirees who own their own homes mortgage free, being “wealthy”, will get only half a mule. Actually a piece of paper entitling them to half a mule, payable over 10 years.