If there’s one thing Democrats have always wanted to get their hands on, it’s workers’ private retirement accounts — the 401(k)s, the Roth IRAs, the Social Security checks. The idea is that that big pot of stored savings can be spent now for leftist social programs instead of raising taxes, and let what happens happen to people who’ve saved for retirement.
We saw it in 2010, in the Democrats’ effort to “Argentinize” U.S. 401(k)s and replace them with “guaranteed retirement accounts,” using the private savings to bail out failing public pensions. It fell flat, but that didn’t stop Democrats. The job-free economy created by the Obama administration then drove many workers to deplete their private retirement savings just to stay afloat, which served Democrat interests, too. I wrote about the Democrats’ cat-food future for seniors here.
Now we have yet another, and much sneakier effort, buried deep within the scads of policy proposals coming from emerging Democratic presidential frontrunner Elizabeth Warren. Jazz Shaw at Hot Air dug into the fine print and found a new expropriation scheme within Warren’s “Accountable Capitalism” plan to re-do corporate boards on a political correctness model:
Buried in that proposal is a plan to force all corporations with more than $1 billion in revenue to staff up at least 40% of their board of directors with representatives elected by the employees.
Read the full story from American Thinker
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