Some Freepers are worried about future confiscation of retirement accounts, but I wonder why it's more difficult for the government to confiscate my regular brokerage account at Fidelity than my IRA accounts there.
This really should not be a surprise. The American Welfare State (aka Socialism) is at the point where it can’t easily squeeze more income out of the population so it has to find some other pot of money to feed its social spending. So it will start taking savings. It has happened in a lot of other countries and Obama is trying to make it happen here too. 401Ks will be next.
Not Uncle Sam...Obama
I seldom make any progress arguing about economic policy with Obama supporters, but the one thing I have been able to get a few of them to acknowledge is that when the government deliberately sets out to devalue its currency through “quantitative easing” and deficit spending it is seizing wealth from any citizens who have savings in that currency.
HA! Outsmarted them and burned through it all. Oh.......
They’ve been talking about this for several years now.
Leave your “penny jar” on the front porch, it will be picked up by either a representative from ACORN, or the SEIU.
RevRunt Shopton will be auditing the proceeds.
No gots...............
I'd love to see how much wealth that's been accumulated is being destroyed because Seniors are having to put their money into annuities and get reverse mortgages because their savings aren't paying any interest.
Bank Robber: Government official: Because that's where the money is.
Hahahahaha! Boy, are they gonna be disappointed!
The UniParty is going to gang-bang the Roth IRAs like a two-dollar whore. I've been telling people that for years.
It a matter of time before the Feds begin appropriating 401ks, replacing them with IOUs. I get the feeling they already consider 401ks their money.
Die and most all your remaining money will go to wealth redistribution, not your family.
If you are not in poverty you are also taxed to death.
One big circle of death regarding taxes.
There is a reason. The IRA is considered a Trust and therefore a little more protected, tho with the Chicago mob running this gigantic ‘break-out’ (Google it), nothing is sacred.
Alex Jones has been warning that for years but no one wants to listen.
Sad to see so many here think that Barry is the source of the problem. Sadder still, the -reserve- and USG are on course to completely destroy the USA financially; completely as in utterly. How can well meaning people still think this is a political issue?
Seems even less likely now with control of both houses than it was the last 2 election cycles. Like you, I see changing the tax brackets as the biggest risk. There could be some changes around the edges, but most of these politicians aren't going to vote against their own self interests. They all have family and friends that use these retirement vehicles. If they get voted out office, they will wan't the max limits at their new lobbying firm..
bkmk