Brilliant! Transfer more money from the productive to the non-productive sector!
If word gets out, he’ll lose the 50+ vote altogether.
Giving people a huge incentive to save for retirement.
More like lose the 30+ vote.
They have the most to lose if their future retirement options become enlaved in yet another govt-mismanaged “trust fund” ponzi scheme.
Doe anyone still believe in that lockbox? Looked inside it lately?
Any govt that wants to confiscate wealth on this scale needs to be totalitarian, or trusted. Now where do you think our Congress and WH stand?
and oh, the word will get out. The stock market, real estate and financial industry will love this
50+ don’t vote much for Zero anyhow. Makes them a likely target for stealing their retirement funds or cutting off their healthcare.
REMEMBER GULLABLE AMERICANS, IN EVER SPEECH HE IS FOR THE MIDDLECLASS. These criminals must be stopped and look who we have........................... The rino GOP are the rats in sheeps clothing. Where oh where does a conservative turn?
They are still looking to steal more rather than cut the size and scope of the monster Federal government. Sick.
I moved to a nice farm in Kentucky with a new house. If my entire house payment was interest (it’s not anywhere close to it) I would still take the standard deduction. The deduction for interest on home loans is only a selling point in blue counties where home prices went through the roof. And now that house prices are STILL tumbling in those areas and interest rates are flopping around on the floor, more and more people find themselves in the same position.
IOW, the interest deduction is looking more and more like a handout to the rich an upper middle class. I say that because compared to most people around me, I’m “rich”, yet my house payment, with interest, would have to triple or even quadruple to allow me to get more of a deduction than the standard deduction.
There are a lot of things he wants do in his second term, when he no longer has to worry about re-election
Brilliant! Transfer more money from the productive to the non-productive sector!
These policies are a time bomb that will eventually explode and destroy the country. Rather than defusing the bomb, however, our spineless leaders are just trying to delay the explosion. But by doing so, they are making the inevitable carnage bigger, and BIGGER AND BIGGER.
Yeah that should work.
Remove incentives to work and save.
Anybody familiar with the concept of a death spiral?
Or a negative re-enforcing system collapsing?
The single largest block of money on the planet is the $18 trillion sitting in the 401(k) accounts of WORKING Americans. Of course Uncle Sam wants their filthy little mitts on this cash.
As an employee benefits lawyer I can tell you without a single doubt, this is a horrible idea on so many levels.
From an Obama/liberal perspective it’s a win/win - grab an extra $450 billion a year from working Americans and destroy their retirement forcing them to rely on Mother Government for subsistence as they age.
Pass a constitutional Amendment that requires all Government agencies to rejustfy their existence every 15 years. If any agency fails to met its established, by law, goals in 15 years they are automatically closed., their real property is sold, and all employees forced to find new jobs.
The problem that has finally hit us squarely between the eyes isn't the lack of taxes it is overspending at multiple levels by the Federal Government.
Lets start with my two “favorite” agencies - the Department of Energy and the Department of Education.
Department of Energy was established in the late 1970s and was supposed to reduce our dependency on foreign oil. Forty years later what have they accomplished other than increasing the amount of taxes required to “run” the Federal Government?
Department of Education was established about the same time and was supposed to improve our children's test scores, etc. Forty years later what have they accomplished other than increasing the amount of taxes required to “run” the Federal Government?
Does any freeper have other Departments that have failed so badly over the last 40 plus years?
As a private citizen I try to avoid throwing good money after bad for more than a year or two. But our “elected” “professional” politicians see no problem doing that with our tax dollars. Every wonder why?
Look, it costs money to buy the votes of the corrupt and lazy... are you begrudging that? /s