Karen McMahan reports:
Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Karen DeCoster recommends:
It’s wise to think of withdrawing your 401k, taking the penalty and tax hit, and getting out. It has to be done before the government puts a freeze on any withdrawals (as I am sure it will do at some point), and doing so after December 31st gets you a tax deferral.
If you thought the Bush regime accelerated the pace of fascism, just wait until you get a taste of the Obama regime.