More on the government grabbing your retirement account

One of the primary memes of the left is the concept “fairness.” Although life is not, and cannot ever be, fair to everyone, the left injects this into virtually every discussion of social issues. The recent revelations that the government is looking at grabbing trillions of dollars in private retirement accounts illustrates that the left’s version of fairness only extends to certain “protected” groups and is important when it benefits the left. (story here)

Many Americans are predictably alarmed at this prospect. One of my friends who I’ll call “John” is a hard-working middle-class professional who has lived frugally, saved enough to send his two children to college, and has carefully built up a nest egg sufficient to ensure that he and his wife will have a comfortable retirement. In contrast, his neighbor George making the same salary has chosen to spend his income on fancier vacations and a more extravagant lifestyle, rather than saving for the future. John is understandably outraged that the government might someday tax or confiscate his nest egg to guarantee George’s retirement income regardless of George’s bad choices.

The fact that George could face old age with minimal savings does not entitle him to any of John’s savings. George’s need does not give him a right to John’s money. Penalizing John for having saved responsibly to bail out George would be a gross injustice — just as it was a gross injustice for the government to punish frugal homeowners who lived within their means to bail out irresponsible homeowners who took out larger mortgages than they could afford.

Ostensibly, the government’s excuse to convert your retirement into government securities has little to do with its stated intention of providing retirement “security” for all. It is first and foremost a power grab, and a new source of money to fund its socialist agenda.

For those of you who are concerned about your future retirement, it will be to your benefit to follow this closely. There may come a time when converting your IRA or other retirement account to a ROTH account or gold (which can be hidden) will be the only way to keep it out of the government’s hands.

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