The federal government covets my 401K

Originally posted by me elsewhere on Oct. 13, 2010.

Yesterday I posted a status update about a recess hearing in which senators heard testimony about the pros and cons of having the federal government confiscate money from 401K plans in order to cover the shortfall in union pension funds. The article that I read was New Lame Duck Threat to Bailout Union Pensions published at Human Events. What I read there was alarming enough that I tried to find out more today. As it turns out, I was unable to find any information supporting the contention that the government was considering using money in private 401K plans to bail out union pension plans. In fact it seemed as though the Human Events article was confusing two distinct proposals.

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