"The left is coming for your retirement".......again

 

I have blogged quite a bit about "Retirement accounts and 401K's" on my blog, y'all can follow the linkie and go down the rabbit hole for quite a while, LOL.  I saw this and thought, "well crap" they are going to try to soak us for more cash to feed the gaping maw of the leviathan".  We are nothing but sheep to be sheared as needed by .gov and occasionally slaughtered for mutton chops as necessary for a political purposes.  I have a small pension from Ford, and 2 401K's one from Ford and the other from my present employer.  I have a gut feeling that social security will not be there when I retire because when I retire it is forecasted to be at a negative balance, and nobody has the political will to make the changes to save the program.  The donks sure ain, it is a huge vote buying program for them, How many times y'all hear "Vote for the GOP and they will push Granny off the Cliff and cut her SS".  the GOP can't try to save it, because if they make changes, it will cost them politically for years.  It is the "3rd rail of Politics" not to be touched.  Several years ago several countries like Cyprus seized peoples bank accounts to shore up the government's finances, don't think that ours won't do the same thing.  I am almost of the belief that if push came to shove, ours would seize ours "in the name of fairness".  I remember in 2013 during the 2nd term of the anointed one, there was a proposal to take everyone's 401K and put it into SS and give them "credit" and call it "MYra accounts and managed by the Feds" They backpedaled big time by the reaction, but if there was any traction, they would have done it.  To me it was a trial balloon floated by an "outside leftwing consultant"....Ya right.  To me, it is your own personal responsibility to set up your financial security, not the government, if you rely on the government, you surrender your individual sovereignty to the state and do what they tell you, and become a slave to them, and also what they giveth, they also can taketh away.

      I shamelessly clipped this from Newsmax

Starting in 2026, a new rule from the Biden-era Secure 2.0

Act will limit how some workers can make retirement contributions.

The new rule is raising serious concerns not just for the upcoming year, but regarding long term precedent and implications for hardworking Americans.

The Secure 2.0 Act, introduced by one of the most left-wing members of Congress and signed into law by then-President Joe Biden, was passed in 2022 with the stated goal of helping Americans save more for retirement.

It includes automatic enrollment in 401(k) plans and expanded access for part-time workers. But one part of the law is especially controversial: changes to how "high-income earners" can make catch-up contributions to their retirement accounts.

Until now, workers aged 50-plus could choose between contributing to a traditional 401(k) (which lowers their taxable income now) or a Roth 401(k) (which is taxed now but grows tax-free).

Starting in 2026, workers earning $145,000 or more will be forced to use Roth-style accounts for catch-up contributions — meaning they'll pay taxes upfront whether they want to or not.

This Secure 2.0 provision removes choice and seems more like a quick way for the government to collect taxes than a real plan to help retirees.

Calling someone making $145,000 a "high earner" also feels out of touch, especially with how much inflation has increased costs in recent years.

People nearing retirement — many of whom have worked hard, paid taxes, raised families, and planned carefully — should not be penalized now when they need flexibility the most.

This rule isn't just about taxes — it's about control.

It shows how the government is slowly limiting Americans' ability to decide how to save for their future, all because of its own poor budgeting; another consequence of nearly a hundred years of the left's spending policies.

Unlike this approach, previous administrations (like President Trump's) trusted the people more — cutting taxes and growing the economy instead of reaching into pockets of hardworking Americans.

In the end, Americans should have the freedom to choose how to invest for retirement.

The Secure 2.0 Act’s catch-up rule takes that freedom away — and the people deserve to get it back.

This Secure 2.0 Act Development also represents a significant milestone in that it marks the government taking away a choice to citizens that had previously been available under current retirement savings provisions.

The chances of something similar happening in the years ahead are even greater with the out of control fiscal insanity perpetuated by the left in Congress and more than a few who call themselves conservatives.

Expect the government to try and get its hands on whatever they can to satisfy their short term spending thrills, especially regarding another program, the Social Security Ponzi scheme. 

Our current debt is so out-of-control that we can barely pay the interest alone on it.

The principal on the debt continues to raise daily.

The interest alone is on course to become the largest portion of the national budget.

And with Social Security starting to massively wane (only 80% of the program is funded after the year 2033), monies will be needed for that program as well.

The left-wing flubbed Social Security and they flubbed catch up contribution choices.

With such fiscal irresponsibility already upon us, and expected to get only worse, future leftist administrations will continue to come after our retirements and other sources of income.