Think positive...they can't take away accumulated money. They can tax the interest as much as they want, but that principal stays.
Here's a thought. People buy and hold stock when they feel confident and secure about the future. Catching Osama (which I really thought would've happened long ago), toppling Saddam, doing something about the ridiculous immigration situation, putting the corporate crooks in jail, discovering a way to solve the water or oil depletion problems are all examples of the kind of things that could cause a confidence in the future euphoria.
But, think about it. Many people have lost a large chunk of their retirement savings. They don't feel safe. A lot of formerly trusted groups (bosses, the Church, education) have let them down. Their jobs are in jeopardy, or many have had to accept lower paying ones. The government message is to "spend for the economy". I really think a lot of the spending and loss in the stock market is due to a perception of the future that isn't confident.
Have you ever read "THE DEMOCRATS' (SECRET) PLAN FOR AMERICA" by Neal Boortz?
Here is an exerpt:
Tax your pension funds
This idea first received serious consideration in the early Clintonista years. As soon as the Republicans took control of the Congress the idea disappeared. Right now it’s being “secretly” incubated by Democrats to be hatched when they regain control. The idea is simple. There are trillions of dollars out there in various private pension and 401K plans. All of these trillions of dollars are earning interest for (gasp!) private investors and individuals and not for the government! To make matters worse – most of these private pension and 401K plans are owned by the evil, hated upper income earners.
The “secret” plan? A one-time 15% tax on the outstanding balance of all private pension and 401K retirement plans. This money would be paid into the general fund of the federal government and used to fund various social programs for low and middle-income earners.
Is this a dangerous plan for Democrats? Not really. The plan would take money chiefly from those who earn enough money to actually pay income taxes and contribute to pension plans. These people do not make up the core of Democratic voters.
Tax your pension contributions also
After the Democrats levy their 15% tax on the outstanding balance of all pension and 401K plans, they intend to follow up with a tax on all future contributions to these plans. The theory is that “rich” people shouldn’t be allowed to contribute that money to these plans tax free when “poor” people don’t have that opportunity.
For more go to: http://www.boortz.com/demsecrets.htm