Note: I could have posted this in the “not for everyone” thread but everyone(members and non members) needs to be aware of some have in mind for your retirement funds.
Dems Target Private Retirement Accounts](http://www.carolinajournal.com/exclusives/display_exclusive.html?id=5081)
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs
By Karen McMahan
November 04, 2008
RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
Well, let’s hear it, what do you think?
Is this a good idea?