A Swedish friend of mine who was working here about twenty years ago had about $80K taken from his retirement fund by the socialist goverment because they were running short on money.
Last night on Fox News, Tucker was arguing against a war with Iran. Then Hannitys show came on and he was taking a much more aggressive tone, reminding me of his support for Bush’s invasion of Iraq
If we have a war against Iran, get ready to hand over most of your IRA, because the feds are deep in debt so the money for a new war will have to come from new taxes
The US already has socialism built into many programs (income taxes, financial aid) and there is no reason this won’t occur with retirement savings. As it is, you’ll pay taxes on some retirement income if your income is over $x dollars. They’ll simply keep lowering that amount (while pushing retirement back further and reducing the purchasing power of the money they do give out).
This system is designed to keep most people within their assigned income caste; any sector in which the laws of supply and demand push salaries higher will quickly be flooded by foreigners. Also, ObamaCare has forced plenty of people I know with the money to retire at 62 to keep working until 65 very specifically because they can’t afford the available healthcare (once they don’t have an employer plan). While Pelosi insisted ObamaCare would separate health insurance from employment, it had exactly the opposite effect - it forced people to cling to their employer plans more than ever (since the other plans were unaffordable AND unusable).