Uncle Sam Is Coming After Your Savings

Bloomberg | January 23, 2015 | Megan Mcardle

[bruoz]

"What makes things worse ... Florida"

For those of us that have lived in Florida all our lives, I say thank God for the "save our homes amendment. It is idiotic that property taxes in this state are based upon what some GD Yankee is willing to pay for our homes.

[veracious]

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?

[EVO X]

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.

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..

[JAKraig]

The governments desires to control all money and give it to who they want will destroy all savings. No, they won’t come and just take it away, first they will protect all retirement accounts by taking away your access to it and then guaranteeing a return of some percentage of it. They will make sure you get your 3% when the inflation rate is 15%.

Put your money in anything that cannot be grabbed by the government.

[EVO X]

I haven’t seen any activity of the type you mention as far as it relates to retirement accounts. Right now the biggest threats to 401K style accounts is crappy investment offerings and high fees. In a case like that, it maybe better to do it on your own. Retirement accounts have protection from bankruptcy proceedings for the most part. There are some exceptions and limits..

[AllAmericanGirl44]

bkmk