I was over visiting Neil Boortz tonight (local time) and found the Democrats Secret Plan for socializing the economy.
Here's the deal. The government grants various tax breaks to these retirement plans. As you know, or as you should know, tax breaks are usually granted to force some individual or corporation to act and behave in some manner pleasing to government. The Democrats plan to change the rules on pension and 401K accounts. Instead of just investing these funds in stocks and bonds, fund managers will be required by the government to invest these funds in certain investments dictated by government -- by Democrats. In this way the governments can fund some of their spending schemes, but without using government funds. The Democrats will simply pass laws requiring fund managers to invest in corporations building low income housing; or companies who are hiring workers off welfare roles. Other "allowed" investments will be in such things as environmental protection, waste recycling and other causes popular with the left. In short order the Democrats will have rules in place which state that these pension funds cannot be invested in companies that are "unfriendly" to unions. To a Democrat ... any company with a non-union workforce is "unfriendly" to unions. Corporations who have affirmative action programs will get the nod. Companies who hire and promote on merit will not.Sounds like a plan to destroy the economy. And why not? It will help us compete with Europe. Or maybe it is the other way around.
I think I said socialism is dead.
I guess we will have to wait for 3 Nov to find out for sure.