[This is a SPECIAL REPORT on the State of the Union. It will be presented in installments over the next few weeks. The report will be published in its entirety separately. It is an extensive look into the murder of liberty, the rise of tyranny, and the end of the age under National Socialism.]
For someone not to surrender everything the government demands, that person is forcing seniors out onto the streets, closing schools and laying off teachers, and taking food out of the mouths of children. Such a person is decidedly an enemy of the people. (part 8 )
The National Socialists have only become this brazen in their rhetoric in the last few years. Even for them, it would have been unthinkable a decade ago to publicly admit they believed a country couldn’t afford to allow people to become prosperous by keeping most of the money they earned, or that the country ‘can’t afford’ it when they do. They can do that today because they’ve succeeded in creating a majority population dependent in some way on the government. With over 50 % of the people on some sort of government assistance, the government really can’t afford not to confiscate more of people’s private wealth.
As governments around the world spring into action in response to failed socialist capitalism, we learn the real identity of the rich the government is targeting. For instance, as Social Security gets closer to failing steps are being taken in America to nationalize 401(k)’s and other private retirement plans.
In 2008 about 60% of Americans had $3 trillion in 401(k) accounts. According to Congressman George Miller (sponsor; GIVE Act) at the time, however, those savings represented an “an inadequate vehicle.”25 To get a clear understanding of where Miller wanted to go with the $3 trillion, look at one ‘vehicle’ he was considering licensing for the road.
It’s a new government mandated retirement program were everyone is forced to invest 5% percent of earnings annually in an account run by—Social Security Administration. (This is the same Social Security Administration the government has managed to go into insolvency by 2020; 2037.26) At the same time, tax breaks would be discontinued for 401(k)’s, and other measure would probably be taken to effectively eliminate them altogether. Eventually, those billions in private accounts will be forcibly transferred into the Social Security slush fund for the government to continue raiding.
The reason is government debt brought on by too much spending, and one doesn’t need to look far to see the writing on the wall for American private retirement accounts.
In 2008 Argentina nationalized $24 billion in private retirement accounts to make up for falling tax revenue. In 2010, Hungary gave their citizens an ultimatum to either deposit their private retirement savings in the state accounts, or lose their government retirement accounts.27 The action was prompted by the fact that the government retirement program was running 900 billion forint in the red, and Hungary is only one of the falling dominos in the Eurozone collapse.
American is nearing 16 trillion dollars in debt, and has 100 trillion in unfunded liabilities.28 There is no way it can pay its debt or make good on its promises, but to postpone the inevitable it will seize private accounts and continue the spending.
With public enemy number one vanquished, the government will then focus more intently on public enemy number two.
Notes:
25. Wall Street Journal, “Targeting Your 401(k),” November 14, 2008. http://online.wsj.com/article/SB122662401729126813.html
26. Amy Goldstein, “Report Warns of Insolvency for Social Security, Medicare,” Washington Post, May 13, 2009. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/12/AR2009051200252.html
27. Zoltan Simon, “Hungary Follows Argentina in Pension-Fund Ultimatum, ‘Nightmare’ for Some,” November 25, 2010. http://www.bloomberg.com/news/2010-11-25/hungary-follows-argentina-in-pension-fund-ultimatum-nightmare-for-some.html
28. Claude Sandroff, “America Should Default,” American Thinker, January 30, 2012. http://www.americanthinker.com/2011/03/america_should_default.html
