Everyone needs to know a little bit about retirement savings and anyone who has ever made a good chunk of money has to be very careful with that money and hire wealth management advisor. Unfortunately, now these wealth management advisors have a little competition; it's called the United States government.
Yes, that's right the United States government has got into the wealth management business. In fact, they are going to help you manage your wealth by taking it from you and redistributing some of it to those that they feel are in the most need. For instance, those who have never worked an honest day in their lives, who have never paid taxes or are quite lazy and don't feel much like working.
After all, that's what a socialist government does, as it tries to level the playing field for all citizens by taxing the rich and redistributing to the masses. Some say this is fair for all concerned because it takes away the wealthy class and makes everyone equal. However when everyone is equal those that produce the most simply stop producing and you don't have to read an Ayn Rand's novel to know that.
Not only is the US government getting into the wealth management business it is also getting into the banking sector, the automotive business, the mortgage business, and your business. Americans have recently elected Barack Obama as President of the United States of America, a nation that is clearly the greatest nation ever created in the history of mankind with the most wealth.
Not only does the United States government give away money to the poor nations of the world, now the US government will take your money and give it to everyone who thinks they are poor, who doesn't want to work or who has their hand out. Redistribution of wealth almost sounds like Robin Hood but, did you know that Robin Hood steals [operative word] from the rich and gives to the poor?
That might sound good if you are poor, but it gives you no incentive to get rich if the government is just going to take it away from you. If there is no incentive to produce or be productive then obviously there will be fewer productive people.
The flaws of socialism are well known, there's no secret to it. There have been many nations that have come and gone using such an approach. Even in our own lifetimes we see Germany and France deficit spending and may actually cause the collapse of the European Union.
France's unemployment rate currently is at 17%, while people in the United States complain that unemployment is at 6.5% up from 4.5%. By the way for 4.5% unemployment rate is one of the lowest in the world.
Dear US citizen, Be careful what you wish for! Sincerely,