With the Help of President Trump, the Elites Are Coming For Your Retirement.

The greed is not going to stop unless we force it to.

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Photo by Huy Phan on Unsplash

Here in the United States, lawmakers and the wealthy overlords they are beholden to taking advantage of crisis situations to rob the American people in some form or another is nothing new, and the current crisis has fostered the perfect climate for them to do so once again.

In the midst of a pandemic that has cost almost 120,000 lives and left over 40 million people unemployed with criminal inaction on the part of our lawmakers only adding to the widespread misery, despair, and uncertainty, naturally they will take advantage of the situation to leech off of workers once again. As many of us might already know, 500 billion dollars of our taxpayer money has been handed over in “loans” to undisclosed businesses in yet another people-funded corporate bail out. Unfortunately, that’s just the tip of the iceberg when it comes to how the Trump administration has taken advantage of the chaos to further the agendas of the rich and powerful.

Now, they’re coming for your retirement.

Syndicated columnist and former Bernie Sanders senior advisor David Sirota writes:

“As news cycles were consumed by Trump deliberately inflaming social unrest and threatening a domestic military invasion, the president’s political appointees were approving a regulatory change that could transfer hundreds of billions of dollars of Americans’ retirement savings to private equity firms. Those are the Gordon Gekko-run outlets that have become famous for fleecing investors, laying off workers, gutting local economies, strip-mining media outlets and creating public health and environmental disasters — all while minting Wall Street billionaires.

The Trump administration’s new directive came just a few months after private equity billionaire Steve Schwarzman — who had been pushing for the change — poured $3 million into a super PAC backing Trump’s reelection bid.

…While longstanding worker-protection regulations have prevented 401k plans from investing in high-risk private equity firms, the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees.

…In practice, private equity firms will now be allowed to access — and skim fees off of — the $9 trillion in 100 million workers’ 401k plans and IRAs.

…The Labor Department letter is the result of all that private equity influence — and at a particularly opportune time. The industry — including Partners Group — has recently been fretting about a decline in fees during the COVID pandemic. The letter offers the potential for a bailout for the industry, paid for by millions of workers’ retirement savings.”

It’s not enough that corporate greed has robbed us of a living wage. It is not enough that corporate greed has robbed my generation of a future with a habitable planet. Evidently, they are bound and determined to ruin any remaining chances for up to 100 million of us to have a stable retirement after decades of working.

At this point, it’s difficult to continue to find the energy to continue being angry.

In all honesty, what gets me the most when I consider this is how much we’ve been conditioned to celebrate the idea of having not just money, but wealth. But why? Why, when this is how it’s being attained in this end stage capitalist plutocracy? For as far back as I’m sure many of us can remember, we have been conditioned to look at wealth as a symbol of what we can get when we “work hard”. As we continue to be reminded with cruel policies such as this, wealth is what’s achieved when you steal from those putting in the labor to generate it.

But frankly, this is just par for the course. They’ve been salivating at the chance to get their hands on social security almost since its inception, so why wouldn’t they take it a step further in their hunt for your 401k? I can’t help almost laughing at the thought of the Trump supporters who fill the stands behind him at his rallies, idolizing this man as the sole politician in Washington who will “drain the swamp” and end the corruption. Imagine if they were actually willing to accept that he’s allowing his donors to skim off of their retirement funds.

It should go without saying that this is unsustainable. You cannot continue to take from people when they have nothing left to give, and you cannot continue to take from people when they have and nothing left to lose when they decide they’ve had enough.

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