Class Warfare’s Next Target: 401(k) Savings.

You did the responsible thing. You saved in your IRA or 401(k) to support your retirement, when you could have spent that money on another vacation, or an upscale car, or fancier clothes and jewelry. But now Washington is developing plans for your retirement savings.

Well, they aren’t talking about confiscating your retirement savings. Instead, they want to have you “invest” that money into Treasury bonds. Oh, by the way, ¬†you are free to do that now, if you so choose.

It’s exactly what we’d all be doing that if we believed the rate of return was worth the risk involved in the investment.

My suggestion to anyone who is in favor of this crap is to go ahead and divest all of your retirement savings currently sitting in mutual funds/stocks and buy up Treasury bonds.

Then come talk to me about why this is a good idea. We’ll have that discussion again in 10 years or so and see what you think about it then.