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Auto IRA Tax

Discussion in 'Politics, Elections & Legislation' started by otnot, Sep 10, 2010.

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  1. otnot

    otnot Active Member

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    Well here comes a new tax on the people and small business. The government wants us to save more so that when they end social security we can still retire. And I guarantee you your NEW savings will be tied into treasury bonds since no one else in the world seems to want to buy them anymore, oh except the Federal Reserve who we then pay interest to.
     
  2. tj303

    tj303 Member

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    Sorry but a search using Google does not support the claim this would be a new tax or that it would be tied to treasury bonds. It would require companies of ten or more employees to allow employees to have automatic IRA contributions made from their pay check.

    http://www.heritage.org/research/reports/2010/02/automatic-ira-builds-retirement-security
     
  3. otnot

    otnot Active Member

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    No it's not law yet and no it's not called a tax. But it is just another way to take more control of your life by the government. I didn't want health care but I got it anyway. Now I get to pay for it in the form of taxes for 4 years before I will ever see it. I don't need someone to help me save for retirement either. One defict the government doesn't count is Social Security and Medicare and Medicade because it's future debt. But debt it is and it's to the tune of 115 trillion.

    Any time the government institutes a new social reform bill it's just another way to tax you and I. To pay for all these programs the government needs to raise taxes by 15%. So I see a Value Added Tax or VAT in the near future as well.

    Get out and vote in November.
     
  4. tj303

    tj303 Member

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    Other possible revenue (tax) would be a Federal Sales Tax. Canada has GST (Goods and Service Tax) as well as Sales Tax. I think the VAT is more likely because it is hidden from the consumer. Also be prepared to see Social Security benefits eliminated for the 'wealthy'. It is possible the government will look at asset taxes as well, the local governments already taxes the value of your real estate. What will stop the government taxing the value of stocks, bonds, and other investments that you hold?
     
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