The Government Wants Your Money

Let me start by saying that this is my own opinion, based upon information that I have gained from my own research. I do not expect everyone to accept my words as gospel. In fact, I hope that everyone will research this for themselves, before it is too late!

To begin, let us establish some basic facts.

First, the existing Social Security Trust, has been robbed by the federal government, to fund other programs. This is not a fantasy; it is common sense. When it was originally established, it was supposed to be a separate fund, isolated and protected, for the sole purpose of providing a return to the contributors. Of course, that is not what has happened. And now, that pot of money is full of I.O.U.'s that can never be repaid. Today's workers, the workforce that you and I belong to, pay our FICA dollars into the pot, and that money goes to the growing number of Social Security recipients. Will there even be any money available when we all reach retirement age? Who knows? The driving force behind President George W. Bush's plan to privatize Social Security, was to establish a new means for today's workforce, to make investments into their own future. This investment would have been safe from interference from the government, because it would have been controlled by the individual. Of course, the measure was destroyed before it ever had a chance. And we are left with a government pot of worthless I.O.U.'s that we look to for our retirement. To be frank, the best that we can hope for, is that the coming generation of workers continue to pay into this program, so we can get our payments when we do retire.

Next, we need to discuss the 401(k) program. For many years now, people, individual Americans, have been taking advantage of this program, saving their own money for their own retirement. Of all the nerve! Taking their own money, that they have earned through their own labor, and withholding it from their own paychecks even before the government takes taxes on those earnings! Now, is there anything wrong with this? I do not think so! I have a 401(k) myself.

The problem is, that the government has a problem with it! There is a HUGE pot of money out there, that, while we cannot use it (for the most part - of course there are ways to use a portion of it for our emergency needs), they cannot even touch! And that does not sit well with them.

However, perhaps there is a way that they can get it. Within the House of Representatives, there are hearings going on, to take control of BILLIONS of dollars of 401(k) money. That is our money, people! And what would they do with it? You probably already know the answer to that question. They would use it for their own programs, of course! Just like they did to the Social Security "Trust" fund.

Of course, first they have to convince us that this is a good plan. How are they going to do that? The first thing that they propose, is to re-value everyone's 401(k) to an earlier value, before the recent stock market upheaval. By promising this, it plays on everyone's desire to have their maximum value restored, as if the recent market fluctuation never happened. This, of course, will make people happy! I know that it would make me happy. Next, they have to make us the promise that our money would be "protected" from this ever happening again, by allowing the government to control it for us. Of course, they would have to guarantee us a return on our continued investment. And they will... a guaranteed 3% return. That may seem low, but after all, it is a guarantee. It is better than nothing.

So, what happens when we retire? Why, we get our check from the government, of course! And of course, in order to simplify the process, we would receive a single check, from the Social Security Administration, which includes both our "Social Security" payment, and our 401(k) payment. More to the point, what the government decides to give us, of our 401(k) money!

Does everyone follow me? The government wants to take OUR money, and put it into the Social Security Administration's coffers! That same pot of money that they have already drained! That same pot of money that they want to drain again! They do not want to protect our money for us! They want to tax it as we earn it (more tax dollars into their hands), hold our retirement savings in a program that they control (our money in their hands, for their use), and then control how much of our money we get to have every month after we retire (and they keep whatever is left over)!!

What can we do about it? The first thing that I recommend, is to contact your Congressmen! Let them know that you see what is going on! Remind them, that taxes are for funding the functions of government, and to stay out of our pockets! Tell them to leave our retirement accounts in OUR control, where they belong! It is not their business to control our personal accounts!

Barring this, if they do manage to pass this invasive legislation, then I recommend that you do what I am going to do, and stop my 401(k) withholdings in favor of a personal savings account. Yes, the government will be taxing my money before I save it, but I will have it under MY control, to use as I see fit! The government is already big enough, and in control of more of my life than I think it needs to be. Why would I want to give the government more money, to grow even larger, and force itself even more into my affairs?

Why would any of us allow this?