Sunday, August 30, 2015

Barack Obama Plotting To Seize Your 401K

No, this is not just some conspiracy theory and if you want to know how it is being done, don't look for a full-frontal assault, instead, examine why the government is presently proposing additional regulations on the companies that administer your retirement account and start to connect the dots...

(Joe Miller) In 2013, in a little-heralded case, the U.S. Court of Appeals for the Seventh Circuit rejected the Obama Labor Department’s attempt to punish voluntary retirement plan service providers.

The DOL, under the direction of the controversial, radical leftist Tom Perez, had tried to force providers of 401(k), 403(b), IRA, and related services to adopt a massive new set of regulations known as "fidiculary" responsibilities.

The Seventh Circuit slammed the door shut on Labor and the Supreme Court thereafter declined to hear the appeal, which meant that the Obama administration had lost in the highest court in the land.

Of course for the "most transparent administration ever," that step simply meant that the court’s opinion was to be rejected and that Obama would use his infamous pen to rule by executive fiat. After all, the ends justify the means, correct?...

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Posted By: Chris Carmouche