Get The Rope

Following a tip from SayUncle, I learn that

The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.

In other words, if you have a tax-deferred retirement account, they want to con you into moving into a form in which they can tax it.

No doubt, they will also be looking at ways to convert untaxed investments--i.e., Roth IRAs, in which the principle was deposited after taxes, so any earnings are tax-free--to be double-taxed.

Thieves.  Looters.  Pirates.

Finally get people investing so that when they retire they will not be a burden, and then look for ways to take those investments from them, which will force them to be a burden.

Of course, as socialists I mean liberals I mean regressives I mean "progressives", whose life work is squashing any tendency to self-reliance and personal responsibility on The People, forcing The People into Government Support programs, is the Ultimate Goal, isn't it?

Well, I've got your support right here!

PS: Here's an article from October of 2008, in which the seizure of pension funds by the government of Argentina is discussed.
Here's a .pdf file of an article on living with Argentina's collapse.
Ranbtburg: US May Follow Argentina By Nationalizing 401(k) and IRAs Into T-Bills