Skip to comments.
Obama Budget to Cap Retirement Accounts at $3 Million
Big Government ^
| 4-5-2013
| Tony Lee
Posted on 04/05/2013 6:32:16 PM PDT by Sir Napsalot
The budget President Barack Obama will submit on April 10 will contain a proposal that would prohibit individuals from accumulating more than $3 million in Individual Retirement Accounts (IRAs) and tax-preferred retirement accounts.
According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals "to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving."
"The budget would limit an individuals total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million in 2013," the statement said. "This proposal would raise $9 billion over 10 years."
(Excerpt) Read more at breitbart.com ...
TOPICS: Breaking News; Front Page News; Government; News/Current Events
KEYWORDS: 401k; bhofascism; budget; communism; democrats; fascism; fubo; govtabuse; obama; tyranny
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61-80 ... 101-117 next last
To: Sir Napsalot
2
posted on
04/05/2013 6:34:53 PM PDT
by
BenLurkin
(This is not a statement of fact. It is either opinion or satire; or both)
To: Sir Napsalot
I am ashamed of America, and the fact that people are allowing this to continue.
3
posted on
04/05/2013 6:36:56 PM PDT
by
stockpirate
(Sen. John Kerry belonged to the terrorist group VVAW.)
To: Sir Napsalot
If WH knows what is best for people to retire on, what else can they not decide?
Is there a limit on things they can ‘regulate’?
///I am really fuming here
4
posted on
04/05/2013 6:37:27 PM PDT
by
Sir Napsalot
(Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
To: Sir Napsalot
$9 billion is chump change for this loser
5
posted on
04/05/2013 6:37:41 PM PDT
by
driftdiver
(I could eat it raw, but why do that when I have a fire.)
To: Sir Napsalot
Is this from The Onion? It should be.
6
posted on
04/05/2013 6:41:51 PM PDT
by
Major Matt Mason
("Journalism is dead. All news is suspect." - Noamie)
To: Sir Napsalot
“I see you have some money there. Give it to me.” — Your Government
7
posted on
04/05/2013 6:42:29 PM PDT
by
ClearCase_guy
(The ballot box is a sham. Nothing will change until after the war.)
To: Sir Napsalot
Where does this Kenyan piggy get the authority to do this. This is BS.
8
posted on
04/05/2013 6:44:45 PM PDT
by
FlingWingFlyer
(Dude! Where's my Bill of Rights?)
To: Sir Napsalot
"Everyone's going to have to give." - BHO
9
posted on
04/05/2013 6:45:20 PM PDT
by
Jane Long
(Background checks? Dandy idea, Mr. President. Shoulda started with yours. - Sarah Palin)
To: Sir Napsalot
So this is directed at Corzine, Madoff, Eric Schmidt, Jay-Z, etc, right?
10
posted on
04/05/2013 6:46:12 PM PDT
by
nascarnation
(Baraq's economic policy: trickle up poverty)
To: driftdiver
9,000,000 might really be chump change after hyperinflation. Maybe enough for a week’s worth of food. Not unlike the Weimer Republic. This is not a time for anyone, rich or poor, to be buying into any rigid dollar limits projected into such an uncertain future.
To: Sir Napsalot
Throw in 20 years of qe and that’s enough to buy a trailer home with a view of a trailer home.
12
posted on
04/05/2013 6:47:49 PM PDT
by
enduserindy
(Conservative Dead Head)
To: Sir Napsalot
13
posted on
04/05/2013 6:47:52 PM PDT
by
Flycatcher
(God speaks to us, through the supernal lightness of birds, in a special type of poetry.)
To: Sir Napsalot
WOW- just wow....who the fuq does this POS think he is??
14
posted on
04/05/2013 6:48:17 PM PDT
by
God luvs America
(63.5 million pay no income tax and vote for DemoKrats...)
To: stockpirate
...substantially more than is needed to fund reasonable levels of retirement saving...
Ayn Rand could not have written a better line for a moocher.
15
posted on
04/05/2013 6:48:21 PM PDT
by
AD from SpringBay
(We deserve the government we allow.)
To: Sir Napsalot
16
posted on
04/05/2013 6:49:09 PM PDT
by
knarf
(I say things that are true ... I have no proof ... but they're true)
To: nascarnation
don’t forget jamie dimon and george soros....
17
posted on
04/05/2013 6:49:17 PM PDT
by
God luvs America
(63.5 million pay no income tax and vote for DemoKrats...)
To: Sir Napsalot
A Stalinist turd resides in the WHut.
18
posted on
04/05/2013 6:49:51 PM PDT
by
SpaceBar
To: Sir Napsalot; fellowpatriot; MarineMom613; Ron C.; wolfman23601; ColdOne; navymom1; Pat4ever; ...
+
Freep-mail me to get on or off my pro-life and Catholic List:
Add me / Remove me
Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of general interest.
19
posted on
04/05/2013 6:50:56 PM PDT
by
narses
To: Sir Napsalot
If WH knows what is best for people to retire on, what else can they not decide? Is there a limit on things they can regulate? Maybe 80 years is long enough to live?
20
posted on
04/05/2013 6:51:23 PM PDT
by
Dartman
(Mubarak and Gaddafi are going to look like choirboys when this is over)
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61-80 ... 101-117 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson