Posted on 02/21/2014 1:32:19 PM PST by stevie_d_64
President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports.
Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. Read Companies bracing for 1-2 retirement punch .
According to the report, the proposals are designed to direct more of the tax preference for retirement savings toward getting more low- and middle-income people into the habit of saving.
(Excerpt) Read more at marketwatch.com ...
Obama: How much should we ALLOW a person to make?
I hope this is one of the straws that needs to break his back...
But, in reality, this is ALL about revenue generation to pay for as much of the crap he has gotten away with in the last 5-6 years...
Of course the elected official cadre will have their retirement plan protected, exempt...
Is it time to fire ALL of them or what???
I could really care less if you have your favorite, or like the person you’ve elected to represent you, or not...
Obama the freaking commie.
President JackA$$ is a rabid ideologue and therefore too stupid to learn from history.
Well, if you must ask Jim, seems to me a compensation of $6000 a year for your congressman, and maybe an extra $500 for a U.S. Senator would be a good start...
That would eliminate the have’s continuing to screw you and I out of what we do to make our lives better, economically and socially...
If there is a segment of this population in this country that does not do anything but live off the government teet, than I have ZERO sympathy for you until they get off their duff and do things the way you are supposed to do as a citizen of a free society!!!
You are certainly free to be a shmup living off other peoples hard work, but the scales are tipped a bit too much in favor of shmups these days and it is getting worse...
Just my opinion...
The BS Vortex continues in DC.
I remember when they came out with the Roth account, and the promise “it would never be taxed”. Hey, is you like your retirement account, you can keep your retirement account.
The Brown Clown is a TOTAL Azzhat!
NO LAWMAKER EXCEPTIONS All elected officials and their staff should be subject to the same laws, rules, regulations, and ordinances as their constituents.
YES / NO
He steal our guns, takes away our health care, takes away our right to speak, takes away our money, takes away our jobs, and nobody in Congress does anything.
Nobody in America cares. Jimmy Fallon interviews the Obamabastard’s wife on TV and everybody falls all over her.
A nation of slaves waiting their master’s dictates.
“According to the report, the proposals are designed to direct more of the tax preference for retirement savings toward getting more low- and middle-income people into the habit of saving”
Translation, the Marxist Government will take from those whom were responsible towards their retirement, and set up Government type IRA accounts for those whom didn’t. The Government will pay pennies on the dollar in Capitol gains to the dead beat recipient and pocket the rest to fund their Communist dream.
More divisive class warfare BS. Ahead of the midterms.
A whole 1 billion dollars,in revenue! Will that even fund the government for two hours?
> Obama: How much should we ALLOW a person to make?
I’m sure this applies to HIMSELF as well...../s
> Obama: How much should we ALLOW a person to make?
I’m sure this applies to HIMSELF as well...../s
Since they are all calling up Congresmen and others requesting amnesty and since all of the news papers and media is supporting same along with the Dem’s that is just fine with me. If they want socialism then they are just going to have to pay for it. Not because they are rich but becasuse they are the ones tearing our country down. A year ago I never would of thought I would say this.
OBAMA HATES OLD PEOPLE.
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