Yeah, been reading about that. Their salivating over what they can loot. Who was it that wanted to do a "ONE TIME" 15% tax on retirements? These asshats simply cannot spend everyone else's money quick enough.
That was Hillary during the campaign and I think she proposed taking 10% right off the top. Apparently, her idea wasn’t “bold” enough.
The “one time” tax on retirements was originally floated by the Clinton Administration in ‘93 and it didn’t go anywhere. Think about it; you have $100,000 in your 401k today. The government says you now owe $15,000. How do you get it? You have to sell off the assets. You and everyone else. What happens when everyone tries to liquidate 15% of the market? It will trigger the greatest stock crash of all time, making the 1929 and 2008 look like little “corrections.”
There is some issue with this being a “taking” under the 5th Amendment. I doubt it would be Constitutional, but with the judges we have now the Constitution is really just a scrap of paper.
“15% One time retirement tax”
This was the pride of hillary clinton when she was running her mouth every day.
Now we have to worry about the drunk -resident living in government housing @ the WH.