Leftists hate the idea of a 401k retirement account. Only the filty disgusting rich get to really benefit from them, and they discriminate against the poor, poor, pitiful poor people not smart or willing enough to build up nest eggs for themselves. So it should hardly be a surprise (especially to long-time readers of VFD) that the President’s budget proposal comes right out and TAKES from your 401k savings. The anticipated revenues to the government are supposed to be 9 BILLION dollars, but consider where that money comes from:
The retirement savings you strove a lifetime to set aside, and which you counted on to provide you with a comfortable lifestyle after you retire.
Hold on there.
No, wait, it’s not your money anyway. You are an exploiter, treading on the backs of the poor to get that money saved in your richevil taxhaven retirement account. Having more than three million dollars in a retirement account, well, that’s just about as bad as MURDER!
Don’t hold your breath waiting for this story to make the nightly news. Also do not be surprised when the idea somehow becomes law. Also do not be surprised when the safe-from-confiscation limits change from “tax the really rich” through “tax the pretty well-off” and right down to “who really needs retirement savings anyway” and they start taking everyone’s savings.
If you want to secure your wealth, you need to do it with actual property. Real estate is a traditionally good bed, but it is in a price bubble just now and is easy enough for government to steal (ask the farmers in Rhodesia!) Guns tend to hold their value pretty well over time, but with the current scare-buying still underway, you probably don’t want to buy those for investments now either. Gold is tricky to time but probably going to head north again soon. The best thing to save your money in these days increasingly looks like a safe in your mattress. But perhaps our fortunes will change and you will wish you had bought MREs and ammunition instead of making to-be-confiscated 401(k) account contributions.
If you depend on the legal constructs of wicked men to help you save money, don’t be surprised when they take it from you, legally.