Before the mid-terms in 2006 the Dems wouldn’t come right out and say that they were going to let the bush tax cuts expire, but now they brag about it openly. Sadly, if the Dems win, while all but waiving a socialist banner, they will be they have a mandate to do just that. Furthermore, if people aren’t up in arms about what they openly have stated they plan to do, I wouldn’t count on a grass roots rebillion to save our 401K’s.
On another thread a poster suggested increasing your deductions and maybe working fewer hours to reduce your tax liability. Anything to keep the dollars earned by own sweat and tears out of Obortion's hands.
“Furthermore, if people aren’t up in arms about what they openly have stated they plan to do, I wouldn’t count on a grass roots rebillion to save our 401K’s.”
Throw in the financial turmoil, we are in now and the potential damage it has done to our IRAs and 401ks, we might have a majority of retirees and those wanting to retire, begging Obama, Pelosi, Reid the Dead and Barney to take control of what’s left of their Iras/401ks.
It wouldn’t require a grassroots movement. If you have 200K of life savings in a 401K and your senator and congressman votes to take it away from you don’t you think you would throw them out at the next election? Senators and Congressmen operate from one single perspective, getting re-elected, They can weasel and doubletalk taxes all day long, and try and convince their constituents they are getting a tax break, but when they threaten to take away all your life savings they know you will take very sharp notice. Dems from very poor areas would support it, but they are in a minority.