Posted by Tina
An alarming article by Katie Pavlich at TownHall links to a Wall Street Journal article describing what is fast becoming Obama’s last gasp to grab control over the private sector and private funds. If you have an IRA, I suggest you read the article:
President Obama’s regulators aren’t slowing down, alas. And on Wednesday they unveiled another part of their plan to push Americans out of private investment accounts and into government-run plans.
The Department of Labor says its so-called fiduciary rule will make financial advisers act in the best interests of clients. What Labor doesn’t say is that the rule carries such enormous potential legal liability and demands such a high standard of care that many advisers will shun non-affluent accounts. Middle-income investors may be forced to look elsewhere for financial advice even as Team Obama is enabling a raft of new government-run competitors for retirement savings. This is no coincidence.
Labor’s new rule will start biting in January as the President is leaving office. Under the rule, financial firms advising workers moving money out of company 401(k) plans into Individual Retirement Accounts will have to follow the new higher standards. But Labor has already proposed waivers from the federal Erisa law so new state-run retirement plans don’t have the same regulatory burden as private employers do.
Pavlich compares the scheme to Obamacare where regulations made providing health insurance too expensive for employers who dumped their employee plans forcing many into government Obamacare plans. She points to the job the government has done with Social Security and then lists the problems that will follow: “1) individuals saving less for retirement 2) the government raiding retirement accounts to pay for other programs 3) more government dependency.”
Fascism consists, in part, of controlling the means of production.Wealth is required to fuel the means of production. High taxes, high taxes on investors, high taxes on manufacturers and producers, are one way of controlling wealth…another is grabbing control of every middle class 401K.
This will impact many middle class investors. it will impact many small privet investor businesses. It will forever change the ability of future generations to grow their own wealth and prosper in the future.
Your vote matters this time more than in any other election.
Off Topic
This will help you to understand Chris.
http://www.breitbart.com/big-government/2016/04/09/conservatives-will-always-lose-climate-change/
Excellent article Pie. I found the advice helpful.
One suggestion, that republicans should re-frame to win based on our main area of concern, the economy, could be a winning solution on both fronts. People are part of the environment. The well being of people must be considered in both environmental policy and economic policy. If we “save the planet” and our efforts put people in suffering and poverty what have we gained?
I do think we still have to push back and expose corruption and lies in the green movement. There is definitely a crony element and a whole lot of people positioning to get rich through government coercion more than taking risks and competing.