Posted on 08/10/2021 3:36:00 PM PDT by NohSpinZone
Democrats on Capitol Hill are proving their socialist stripes: They’ve reportedly considered raiding the “super-sized retirement savings accounts” of the wealthy to pay for their $3.5 trillion progressive spending fiasco.
On Tuesday, Politico reported that congressional Democrats are “aghast that hundreds of Americans have IRAs worth more than $25 million, and nearly 30,000 have accounts with balances topping $5 million.” (The nerve of them, no?)
On the other hand, they observe, some folks “have little to no retirement savings” — also surely the fault of those who work hard and save their money over the course of their lives.
Meanwhile, Democrats are desperate to figure out how to pay for all those left-wing agenda goodies — free college tuition, climate-change schemes, universal pre-K — that they’re aiming to stuff into their $3.5 trillion spend-a-palooza. Senate Finance Committee Chairman Ron Wyden (D-Ore.) vows to find a way, even if it takes all summer. And what better way than to skim from the savings of “evil” rich folk, those who have been wise stewards of their money, that is?
(Excerpt) Read more at nypost.com ...
Dems (and the FBI) cannot imagine anyone having saved money without doing something nefarious because they do nefarious things to get money.
THAT is why they are aghast.
Your retirement savings are for your ex-wife who never contributed a penny to them. Everybody knows that, right Jamie?
I’m surprised the number of successful account holders isn’t higher.
The Democrats stole the US so everything is theirs now
Well, we’re no where near that much in savings. So I guess they’ll come for us last. The time to fight was in November/December, but we just stood and watched expecting someone else would do it. That is when we lost. JMHO
This has been their plan for years.
L
Just watch and the Dems will give haircuts to savings accounts by charging income tax rates against them.
It might be time to cash out. Eat the penalty but at least get out while you can.
That’s my red line.
Wait till they find out a good number of deep staters have those accounts.
How will they steal our retirement savings? INFLATION
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
Vladimir Lenin
Redistribution of wealth is the first step that makes it easier for government to seize all wealth for itself.
It's higher than you think. It's almost effortless to save a million dollars these days. Using just 10% of your income to fund an IRA or 401k from when you are in your 20s guarantees multi-millionaire status. Those with company matches can get to the million dollar mark with just 6 or 7 percent saved.
There are already 20 million "millionaires" in the U.S. today, mostly Baby Boomers, and that figure is exploding as the Gen X'ers come into retirement range.
Of course, having a million dollars isn't what it used to be. I tell my 30-something sons to expect to have at least five million saved up before they can retire. Just one million won't cut it.
All that money invested in economic growth, leftists can’t stand it. They think it’s better to squander it on partisan rubbish which contributes only their own enrichment.
Yes, they are closing in on the self defeating “wealth tax.”
It might be time to cash out.”
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Digital currency only coming soon, may be as early as 2022. These people have it all figured out.
I wonder what Dave Ramsey has to say
The best counter: Allow a one-time withdrawal of $100k TAX FREE! The ‘offer’ has to be done during election season.
Term Limits and Jail Terms
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