Posted on 10/09/2008 6:13:51 AM PDT by rellimpank
Mom MD, my husband and I feel much the same way. He’s 58, I’m 54. We both have law degrees and have worked very hard all of our lives. If anything is left in our retirement accounts, we will take that and anything we can get from selling our house and its contents and also head to the hills. I’m not going to keep working like this to support a bunch of people whose votes are being bought for the likes of Obama and the Democrats. Atlas is going to shrug and they can get off their lazy butts and go to work.
The tax savings is why many people have the accounts — yes, that’s right. When they took away the tax deduction for IRA contributions for people making more than $80,000 per year, most everyone in that income bracket stopped contributing to their IRAs. Notice this: these dems are proposing to take away the tax deduction for 401k contributions for whatever they define as “rich” — and believe me, it won’t be the same definition you and I use. I can promise you that they will also want to tax the money before it is contributed to the 401k and again when it is taken out as a distribution. The greedy bas*****!
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