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 ...
At least since the 90s that I started hearing.
I’ll effin burn it first!
Especially when your 60 year old wife leaves you for another woman and takes half of everything. This happened to a co-worker of mine.
Wow.
There are no winners in a game of losers - Tommy Joyce.
Maintaining 401K investments until RMD begins at 72 offers opportunities for a ton of earnings. I’ve been doing it since early retirement 2015.
-PJ
- First they came for the $25 million IRA holders, and I did not speak out-
- Because I did not have $25 million.
- Then they came for the $5 million IRA holders, and I did not speak out-
- Because I did not have $5 million.
- Then they came for the retiree social security, and I did not speak out-
- Because I was not a retiree.
- Then they came for me-
- and there was no one left to speak for me.
I thinks it because the retirement account isn’t the only account for savings. Maxed out Roth IRAs won’t accrue that much. Some people A lot put in enough to maximize the tax break on the traditional ira. Then the rest is invested elsewhere.
That is what this is about. Fix a target small enough it can’t defend itsself, create envy, inspire greed against it, destroy it and be a hero to the jealous, envious, ignorant masses.
Yep. Some lefty broad from a NYC “Think tank” suggested nationalizing 401k accounts.
It’s a pity no one hunted her down.
L
I have been saying this for years: Some of us who have paid into Social Security our whole lives are not going to get it. They are going to do means testing.
“You already have enough saved up. You don’t need Social Security.”
But I also see them coming after money we have saved. It’s pessimistic, I know. I just feel it in my gut.
ANd Babylon Bee states, “Sorry! We can’t out do these clowns.”
Because we didn’t build that?
“But I also see them coming after money we have saved. It’s pessimistic, I know. I just feel it in my gut.”
Will they raise taxes on All income? Answer: Yes
Will they steal your whole account? Answer: Not likely
Will the market destroy your retirement with a deflationary crises?
Answer: Not yet or anytime soon, but historically it “does happen.”
Assistant Democrats will be glad to help the Democrats to your retirement accounts.
I assume my pension (state teachers’ retirement) has already been looted.
I’ve been telling colleagues for years to diversity.
And, own physical gold and sliver.
I hear you. I guess it could go completely the other way with a Weimar Republic situation too.
What are ya gonna do?
The DNC are a bunch of cowards. Why are they so afraid to not go ALL IN and just go 1917 or 1949?
Another story I was hoping came from The Babylon Bee, but didn’t...
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