Showing posts with label 401K. Show all posts
Showing posts with label 401K. Show all posts

Friday, October 15, 2010

Government Prepares to Seize Private Pension Funds

Massive wealth confiscation program would replace 401(k) system with Social Security-run ponzi scheme

Government Prepares To Seize Private Pensions 111108top2

Paul Joseph Watson
Prison Planet.com
Tuesday, October 12, 2010

The government is preparing to seize the private 401(k) pensions of millions of Americans while enforcing an additional 5 per cent payroll tax as part of a new bailout program that will empower the Social Security Administration to redistribute pension funds in a frightening example of big government gone wild.

Public pension plans have been so aggressively looted already by the government that cities and counties face a $574 billion funding gap, according to a CNBC report.