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IRAs in crosshairs of Obama Budget

Discussion in 'Politics, Elections & Legislation' started by crusha, Apr 5, 2013.

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  1. crusha

    crusha TS Member

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    Nice. The President has determined that we don't have a spending problem: it's actually the untaxed balance in your IRA that's at the root of our budget woes.


    Yes, apparently so many of you are taking so much responsibility for your own retirement security, so effectively, that the government simply cannot afford your wise choices anymore. (After all, that's money that can be used to buy votes, and shore up government pensions).


    Is there anything these Aholes won't stoop to? It's reminiscent of the Alternative Minimum Tax - it's originally designed to hit the rich while shielding "average" people from paying the consequences...but if the amount shielded from taxation doesn't get updated over time, less and less affluent people start getting pulled in by it (how much do you really think a Million US dollars will buy, in 40 years time?)


    I wonder how long ROTH accounts will preserve their tax-privileged status, before gubmint starts calculating how many votes they can buy with THAT money?


    The Ant and the Grasshopper, all over again.
     
  2. Brian in Oregon

    Brian in Oregon Well-Known Member

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    And eventually they'll ratchet the threshold to where it impacts ordinary people.
     
  3. bigdogtx

    bigdogtx Well-Known Member

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    guess hussein thinks we are Cyprus.........
     
  4. Barrelbulge(Fl)

    Barrelbulge(Fl) TS Supporters TS Supporters

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    AARP doesn't care. They are sucked in over the sweet deal they got with Obamacare That is why they lost so many members over the past 4 years. Bulge.
     
  5. TinMan88

    TinMan88 TS Member

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    Someone said to me "thats illegal!" when disscussing the action in Cyprus. Let it be noted that there was not one government entity, justice or judicial, that went public in defense of the citizens of Cyprus. 60% of their savings taken from their bank accounts and not so much as a tissue to wipe with.
     
  6. Catpower

    Catpower Molon Labe TS Supporters

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    Kind of like our GM stock after the restructuring
     
  7. crusha

    crusha TS Member

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    Well, to be accurate, folks...if you actually read the link, they just want to put limits on the amound shielded from taxation, not steal the balance (yet, anyway). The argument can be made that it's no different than they ever did, since you've always been limited on the amount you can put in.


    But it appears some have gotten "too good" at saving for retirement! At least as far as Uncle Barack is concerned.
     
  8. TinMan88

    TinMan88 TS Member

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    Rick, If my post is what you are referring to- Cyprus action was not a Govt. action but a 'bank' action.


    Cyprus bailout deal with EU closes bank and seizes large deposits ...www.guardian.co.uk › Business › Eurozone crisisCached
    Mar 25, 2013 – Draconian terms aimed at keeping Cyprus in eurozone include ... They saw a rich country, decided to take their money, and destroy them.
     
  9. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Where are the usual liberal trolls here who told us in past threads on this subject that the liberals and Obama would never go after 401Ks or IRAs?

    chirp.... chirp.... chirp....
     
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