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Nationalizing 401(k) Plans: Down Argentine Way

I posted yesterday about a loopy idea floating around Capitol Hill to shift people out of their 401(k) plans into a government plan. It would be like Social Security: the Sequel. It would also be a $100 billion-a-year tax increase that would hit people making as low as $75,000, according to the plan's author, a prof at the New School of Social Research. My guy Ed Morrissey over at Michelle Malkins's Hot Air site makes a great follow-up point:

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