Thursday, October 23, 2008

Democrats wanting to get their hands on your 401k

In the continuing battle between savers and spenders, taxpayers and tax-takers, independents and dependents the Democrats look to be making a move to push more of us into the later of each.

House Democrats Contemplate Abolishing 401(k) Tax Breaks

Brilliant really - confiscate the accumulated wealth of Americans who have conscientiously saved their money, and redistribute it to all whether they saved or spent their way through life, thus securing your position as distributor of largesse.

Then give only a 3% annual return so that no one can really get ahead or be self-sufficient and guarantee even more people will be dependent on, and thus in support of, government programs in their old age -- and of course heavy taxation on those still working.

You knew the Democrats couldn't stand the thought of billions of dollars growing untaxed and out of their control now could you?

Yet another reason to vote to stop a one-party Democrat rule in Washington - if you thought you had it bad now, just wait until there is no holding them back.

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