We brought this up on the air yesterday, but this idea of taxing (as in Ireland) or outright seizing (as in Argentina) private sector pension plans is nothing new.  In 1993 the Clinton administration was mulling over the idea of levying a “one-time” tax of 15 % on the outstanding balance of every private sector pension plan, IRA and 401K account.  The idea here was that there was something inherently unfair about some people having these private accounts while others were going to be left to rely solely on Social Security.  This seizure of private pension funds was supposed to even things out a bit.  The idea died – well, temporarily – with the voter revolution of 1994 when the Republicans took control of the congress. 

Remember too that Democrats are even now considering ideas for seizing private pension accounts and folding them into some sort of government-managed plan that would guarantee an annual retirement income for all Americans.  Try to consider the power that would vest in politicians who not only controlled your medical care but who also exercised complete control over your retirement income.    At some point you’re going to realize that this is about increasing the power of government by making more and more Americans more and more dependent.  Liberty is the enemy of government.  The quest for political power is the enemy of liberty.