RUSH: Ellen in Toledo. Great to have you. Thank you for waiting. Hello.
CALLER: Well, hello, Rush. It’s a great pleasure to speak with you. I’ve been listening to you for, oh, 20 years, like the prior caller. I used to listen to you on my way to college. My radio station would get one station, one AM station, and you were the lucky one that I got to listen to.
RUSH: Thank you very much. I’m glad you’re here.
CALLER: Yes! Anyway, I have tripped upon a story that disturbed me, so I did some more reading on it, and I wanted to get your opinion on it or see if you caught wind of it, ’cause I haven’t heard anything in the news about it. It’s about Poland and how they plan on seizing 50% of pensions, you know, of the people who put in money in the pensions. Well, because of their high debt, the Polish government plans on confiscating 50% of the value to increase the government assets so they can being start borrowing more money again.
RUSH: Right. Yeah, I saw that.
CALLER: — because, like us, they also have debt.
RUSH: I didn’t see it on Twitter, by the way. Yeah.
CALLER: No. I actually read that on Reuters, so I am hoping that they didn’t get their source from someplace else. But, anyway, as I am reading it, I’m thinking, “Well, you know, Obama has this “you didn’t build that” philosophy and a lack of respect for private property. I’m kind of concerned about this.
CALLER: I’m 48 years old. I’m a diligent saver.
CALLER: This could be 20 years down the road when I go to retire.
CALLER: Who’s to say you go to bed one day and you have multi-thousands of dollars, hundreds of thousands of dollars in your retirement account. But you wake up, and the government sneaked in and electrically transferred it to their coffers, and now you have nothing.
RUSH: Well —
CALLER: I’m guessing that somewhere somebody in Washington is laying awake at night thinking of a plan to do this.
RUSH: Oh, Ellen. Jesse Jackson, back in the early nineties, suggested this. Jesse Jackson began advocating for the government to confiscate pension fund money and use it to fund social programs for the poor shortly after this program began. This is something that the left has had their eyes on in this country for a long time. Now, as far as anybody knows, they haven’t done it. Our government has a division which will absorb pension plans from private industry which aren’t funded and will never be.
Like the General Motors pension plan for their retirees, they just don’t have the money, and they’re never gonna have the money. So the government takes that over, but not at full value. But your fear is understandable. There are all kinds of Democrats who have designs on your retirement funds. Pension funds are one of the last remaining gigantic stockpiles of real money, and you’re right to be concerned about it. But a digital transfer of what’s in your account, you can go crazy fearing that, and a lot of people do fear that they’re gonna lose everything they’ve got.
Don’t worry about that. I mean, that’s not the way it’ll happen.