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January 6, 2011

European nations begin seizing private pensions

The most striking example is Hungary,
where last month the government made the citizens an offer they could not refuse. They could either remit their individual retirement savings to the state, or lose the right to the basic state pension (but still have an obligation to pay contributions for it). In this extortionate way, the government wants to gain control over $14bn of individual retirement savings. -- CSMonitor.com

Think that 401K is safe? Think again.

Posted by Vanderleun at January 6, 2011 8:26 PM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

They'll tax your Roth before they take your 401k. There is a 0% chance the Roth accounts won't be taxed, making them double-taxed.

Until the politicians have a real fear of real tar and feathers they will keep taking your stuff and the federal judges with no fear of impeachment will approve of it all.

Posted by: Scott M at January 7, 2011 4:10 PM

The politicians need to be really careful about how many "nothing left to lose" type people their manipulations create.

Posted by: Cheezburgrrr at January 7, 2011 9:39 PM

They have already done this in Argentina.

Posted by: Fat Man at January 8, 2011 8:20 PM

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