You know you want to.
We all know what is coming...
Government confiscation all of all pensions (unions and government workers exempted), 401k and IRA funds.
To be replaced with “guaranteed” government bonds.
It will be for the children.
And for the votes of the free sh*t army.
No one could have seen this coming....
The best course for America is to cut Obama from the oval office
“if you like your 401k - you can keep your 401k”
Oddly enough, I don’t see this as such a big deal. Basically, 401(k) and IRA accounts would be held to the same standards as pensions under Federal tax law — at least in terms of their tax deductibility.
No one is really listening to this idiot anymore
They make it very clear that until all taxes are paid in full, that isn't your money - it's theirs.
Just how does placing a “limit” on something generate a billion bucks of revenue?
Oh, by STEALING it from those to whom it actually belongs...
Keep taking investment money out of the economy to redistribute it into the federal plantation, until everyone is on the federal plantation, and no one has investment money to redistribute. It never works out, but radical leftists, called Democrats, keep trying to prove it can.
How about ending the EITC (I believe) where people get tax money back that they never even paid in the first place!
There are no tax deductions for IRA’s for high income people Oboobma.
So, the One Billion Dollars this new Tax Scheme will raise for the next 900 Years will pay for Obama’s failed Stimulus Program.
Add in another Five Thousand Years to pay off all of Obama’s Deficits.
To encourage people to save, we will take people’s retirement money.
War is Peace
Freedom is Slavery
Ignorance is Strength
This is why I tell people they shouldn’t pay the taxes on an IRA and convert it to a Roth to any large degree.
Ten years from now some people are going to be sitting on huge (converted) Roth IRAs that are supposed to be exempt from all income taxes when withdrawn. All it will take is for a Democrat arguing “fairness” and pointing to someone withdrawing, say $50k from a Roth IRA of $1,000,000 to get a groundswell going to tax them in spite of what the previous law specified. Then they’ll end up paying the taxes twice.
Hell, it wouldn’t surprise me to see even our after-tax savings partially confiscated in the next financial panic. Greece has already done it, so the precedent is there.
One of Obama’s sorriest accomplishments is convincing a lot of people that contracts mean little anymore, especially when the government comes calling. And if he ever gets to appoint a liberal Supreme Court, they’ll mean nothing at all any longer.
Wait until bill gates and warren buffett find out a WEALTH TAX is coming.