Uncle Sam Wants Your Savings

 Posted by on 8 April 2010 at 7:00 am  Activism, Finance, Government
Apr 082010

A few weeks ago, Bob Gifford posted to OActivists about the Treasury Department’s proposal to “manage” our 401(k)s and other retirement accounts. (You know, because the government is such a fine example of fiscal responsibility.) The government is soliciting comments on this proposal. Bob suggested the following talking points:

Along with the obvious things to say about taking over our property, other things you could include are:
  • Americans are perfectly capable of managing their own money and do not need the government to do so.
  • The government has shown no ability to manage our money.
  • Annuities do not have the flexibility necessary for an investment.
  • Annuities provide fixed income and offer no protection from inflation.

Keep a close eye on this. If it is implemented, there may be some room for self-defensive actions.

Those are good suggestions. Also, as you might recall, Paul recent published an op-ed in Pajamas Media on this topic: “Government Grab of Retirement Accounts.”

If you wish to tell the federal government what you think, you can send your e-mail to [email protected] with “RIN 1210-AB33″ in the subject of the message. Here’s the comment that I submitted:

I’m completely opposed to any government takeover or management of retirement accounts like 401(k)s.

The government has shown itself wholly incapable of managing its own finances. Any government interference with 401(k)s would just be yet another way to steal the hard-earned money of responsible Americans, so that politicians could spend it it on pork and welfare. That would be morally grotesque — and grind the economy to a halt.

Respect property rights: hands off our retirement savings!

[name & address omitted]

Please do submit a comment, even if only something short and sweet! They’re due on May 3rd at the very latest.

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