In order to make up sizable budget deficits, governments in Hungary, Bulgaria, and Poland have begun to sweep up some or all of their citizens' private pensions. See the story here.
Think this can't happen here? Think again.
(From a Glenn Reynolds Facebook Post)
Sunday, January 2, 2011
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4 comments:
What's wrong with having union members and retired government employees decide to take either their pension or Social Security benefits, but not both.
That's not what's happening here. People with 401K like accounts are having them confiscated into a "guaranteed" retirement account.
This very thing is on Obama's "to do" list if he gets a second term. Believe it!
The Peoples Republic of New Jersey is trying something similar:
We Want Your Money!
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