100%. He’s destroying the “middle class” as fast as he can.
Remember 0Marxist’s first “definition” of “rich”? $250,000. Then it dropped to $200,000. Originally that was yearly gross income; pretty soon, it’ll be our net worth!
And it’s going down even further in the next 3yrs. He’ll “rule” by EO, bypass Congress, and his last 18mos will be a living hell for all of us.
I read an article recently that identified one element in the 2014 budget proposed by Obama is that if you have more than $3.4M in retirement savings (Pensions, 401K, IRA, etc.) then you are no longer eligible for pre-tax investments. They identified it as “the wealthy should not have these tax benefits to keep their money.”
Now, if you run an investment calculator and figure out how much you would have in an investment if you ONLY ever worked for minimum wage and invested 13% (the SSIP)in the market for 40 years at 10%, then you would find that you would have something in the range of $3-4M in savings.
When I put these two facts together, I see that they are actually identifying the $3.4M as once again governing to the least common denominator. If anyone has actually been responsible for the full 40 working years, then they will far exceed this minimum number.
Me, I got a late start myself so I will only achieve a couple mil, but many of my peers laugh at me for being silly about my purposefully planned life....so they are gonne be left with SSIP payments and as a result they will not be as “lucky” as me. I’m sure they will be all for the government taking mine to give to them....